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Writer's pictureTravis Tyson

10 Things to Know About Medicare Supplement Plan N in Florida

Updated: Nov 9, 2023


Medicare Supplement Plan N is a great option for seniors in Florida. It offers the lowest cost of any comprehensive Medigap plan available in the state, and it provides many important benefits. In this blog post, we will cover all you need to know about Plan N in Florida. We will discuss the information and pricing for this plan, and we will explain why it is a wise choice for seniors. We will also talk about carrier options, age rating in Florida, and how to enroll in a Medigap plan on your own. By the end of this blog post, you will have a clear understanding of all that Medicare Supplement Plan N has to offer. Thanks for reading!


If you have any questions about Medicare Supplement Plan N in Florida, please leave a comment below and we will be happy to help. And remember, if you're looking for more information on Medicare Supplement plans, be sure to check out our other blog posts. We cover all the basics of Medigap plans so that you can make an informed decision about which plan is right for you. Thanks again for reading!


What is Plan N?


Plan N is a Medicare Supplement insurance plan that helps cover some of the costs that Original Medicare doesn't pay for. This includes copayments, coinsurance, and deductibles. Plan N does require you to pay your Medicare Part B deductible before coverage begins. When visiting a doctor you will have a copay of up to $20. If you go to the emergency room expect to pay up at a $50 copay. Keep in Mind that Plan N doesn't cover excess charges but these are easy to avoid. Other than that, Plan N works the same way as Plan G. The only real difference is the copays and excess charges.


Why Plan N?


Plan N is a great option for seniors who want to save money on their Medicare Supplement insurance. It offers the lowest premiums of any comprehensive Medigap plan available in Florida, and it still provides important coverage for things like office visits and deductibles. If you're looking for a Medigap plan that won't break the bank, Plan N is definitely worth considering.


What to look for when Shopping?


When you're shopping for Medicare Supplement insurance, it's important to compare carriers carefully. Even though all plans are required to have the same benefits, not all carriers offer the same prices, so it's important to do your research before enrolling in a plan. We can help you compare carriers and find the best rates on Medicare Supplement Plan N in Florida. Just give us a call or send us an email, and we'll be happy to help.


Issue Age Rated


The age rating is how the rate increases and prices are set. Florida enjoys the Issue Age rating. This means that the price is set when you enroll in the plan and does not increase as you age. This means you will always be paying the same rate as a new person starting the plan at the age you started. For example, if you start your Medicare Plan at age 65. Suppose now you're 75 years old. If a new Medicare beneficiary turns 65 and starts the same plan, You'll be paying the same rate as him.


Since aging doesn't impact your rate increases, the plans in Florida start a little higher than some other states. Over time, you should save more money in an Issue age state than an Age Attained, or Community rated state or plan.


When to Enroll


You can enroll in a Medicare Supplement insurance plan at any time, but there are certain times when it makes more sense to do so. The best time to enroll is during your six-month Medigap Open Enrollment Period. This period begins on the first day of the month that you turn 65 and have Part B coverage. Outside of your open enrollment, you will have to medically qualify in most cases.


Enrolling Without Speaking with an Agent


You can enroll in Medicare Supplement Plan N on your own or through an insurance agent. Some carriers allow an online self-enrollment option, such as Mutual Of Omaha, most prefer you use an agent.


If you enroll on your own, you can do so by going to E-AdviseInsurance.com. Keep in mind not all carriers have an online self-enrollment option. At E-AdviseInsurance, you can request an application and it will be emailed to you to complete. They will follow up with instructions and help you complete the enrollment if needed. If you enroll through an insurance agent, he or she will help you compare plans and carriers to find the best option for you.


Plan N Monthly Costs


Based on a 65-year-old female, non-smoker in Pinellas county, the lowest plan N available at the time of the writing of this blog is United American with a price of $129 a month.


The Top 5 Prices and Carriers in Pinellas County Florida for Medigap Plan N


Medicare Supplement Company

Price

United American

$129

Accendo (a CVS/Aetna Company)

$134

Continental Life (a CVS/Aetna Company)

$135

United World (a Mutual Of Omaha Company)

$135

Cigna

$138



Does the Company I Choose Matter?


Yes and No. As far as coverage goes, a Plan N is a Plan N. the coverage is required to be the same no matter the company. However, some things to keep in mind is that not all companies are created equal. Typically the more financially stable a company is will reflect lower rate increases and better customer service. However, keep in mind this isn't always the case.


A Mutual company such as Mutual Of Omaha answers to its policyholders instead of shareholders, so profit is returned to the company to keep rates low.

Mutual of Omaha and United American are two of the carriers that helped start and pilot the Medicare Supplement program. This gives them a track record of excellence and both have been in the Medicare market longer than many others.


Plan N Tricks and Tips


Here are a couple of details you can use to get the most out of your plan and lower your medical costs.


Urgent Care: At the urgent care you have a $0 copay, so instead of running to the emergency room, if it isn't life-threatening, consider the urgent care.


Avoiding Excess Charges: Excess charges allow a healthcare provider to charge up to 15% more than the Medicare Approved amount. Only about 5% of providers nationwide charge excess charges but they are easy to avoid. Simply ask ahead of time if the provider accepts Medicare Assignment. If they say yes they cannot charge excess charges.


FAQs

Will my Plan N rates ever go up in Florida?

Yes, but not because of your health, or age. Medicare Supplement plans are guaranteed renewable for life as long as you pay your premiums when due and the plan is still offered by the company. But in Florida, there will still be rate increases based on inflation and other factors.


Do I have to take a medical exam to enroll in a Plan N in Florida?


Yes and No. One of the great things about Medicare Supplement plans is that you don't have to medically qualify in order to enroll when first starting Medicare. However, if you wait until after your Medigap Open Enrollment Period and don't have any other qualifying event, you will likely have to answer some health questions on most carriers' applications, and an underwriter will review the application to either approve or deny your application.


Can doctors in Florida charge a Medicare excess charge?


Yes, but only if the doctor is not accepting Medicare-assignment. If you have a doctor that doesn't accept Medicare-assignment, they can charge up to 15% more than the Medicare-approved amount for their services.


Can I enroll in a Plan N in Florida if I'm under 65?


Yes. You must be enrolled in both Part A and B of Medicare before you can enroll in any Medigap plan, including Plan N. You can expect to pay more for a Medicare Supplement under the age of 65 in Florida. Another option is a Medicare Advantage plan.


What's the best way to compare rates for Plan N in Florida?


The best way to compare rates is to use an online quoting tool like the one on

E-AdviseInsurance.com. You simply enter your zip code and follow the prompts on the screen.


Can I enroll myself in a Medigap Plan without an agent in Florida?


Some carriers such as Mutual Of Omaha allow you to do a self-enrollment without an agent. Some web brokers such as E-AdviseInsurance.com have access to online quotes, and if a carrier doesn't allow self-enrollment you can request the application and they will email it to you with instructions on how to complete it. The best part of doing the latter is they are then your agent. They can help if you have issues with your plan going forward.

We hope this blog post has been helpful in explaining some of the basics of Medicare Supplement Plan N in Florida. If you have any questions, please feel free to leave a comment below or contact us directly. We're always happy to help! Thanks for reading!



Please note that this blog post is for informational purposes only and does not constitute legal or financial advice. For specific information about your situation, be sure to speak with one of our qualified professionals about your needs. We can assist in a needs assessment and ensure you get the coverage that's right for you. Simply give us a call or fill out our online request form. If you prefer to shop on your own, check us out on the web at

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