Medicare Supplement Plan N

On June 1st of 2010 several meaningful modifications were made to the previously available Medicare Supplement plan offerings. Medicare Supplements E, H, I and J were eliminated. Medicare Supplement Plan G was modified by adding coverage for Medicare Part B excess charges. Two new plans were added and they are Plan M and Medicare Supplement Plan N. The two new plans, Medicare Supplement Plan N and M were designed to be cost sharing plans whereby the insured partially shares in the cost of care by paying a deductible and co-pay.

Medicare Supplement Plan N Proves Quite Popular

Medicare Supplement Plan N immediately gained popularity amongst retirees most likely due to a premium that averages approximately 70% of the most popular Plan F Medicare Supplement. The premium savings of Medicare Supplement Plan N can be attributed to the fact that the insured must pay the $162 Part B Medicare Deductible along with a $20 co-pay per physician visit and a $50 emergency room co-pay if not admitted to the hospital following an emergency room visit. In addition Medicare Supplement Plan N does not cover Medicare Part B excess charges although very few providers ever charge above what Medicare allows. Medicare Supplement Plan N also provides a very attractive alternative to Medicare Part C, Medicare Advantage plans. Medicare Advantage plans have very low or no premium although they are very restrictive and require members to receive their care inside a specific network. Medicare Supplement Plan N provides cost savings closer to that of a Medicare Advantage plan but allows the insured to use any physician or hospital.

Medicare Supplement Plan N - A Look inside the Numbers

Medicare Supplement Plan N accounted for almost 12% of all Medigap enrollments in 2010 which is quite significant since it wasn't even available until June. In all, Medicare Supplement Plan N had almost 148,000 policies in force at the conclusion of 2010. Over 50% of all Medicare Supplement Plan N policies issued in 2010 were underwritten by United of Omaha. In total, United of Omaha wrote 89,283 Medicare Supplement Plan N policies in 2010.

Top 10 Writers of Medicare Supplement Plan N in 2010

• United of Omaha Medicare Supplement Plan N
• Colonial Penn Medicare Supplement Plan N
• AARP Medicare Supplement Plan N
• United World Medicare Supplement Plan N
• Mutual of Omaha Medicare Supplement Plan N
• AARP of New York Medicare Supplement Plan N
• Blue Cross Blue Shield Medicare Supplement Plan N
• Sterling Medicare Supplement Plan N
• American Continental Medicare Supplement Plan N
• Standard Life & Accident Medicare Supplement Plan N