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Medicare Plan N –
Medicare Part B Excess Charges- What to Know
Medicare Part B Excess Charges are a part of Medicare that is important to understand. It may very well affect the way your plan covers your out of pocket expenses.
Part B Excess charges are covered only on two plans. Plan F and Plan G. Other plans like Plan N do not cover excess charges.
What are Part B Excess Charges and how much are they?
There are two important terns to understand. “Medicare” and “Medicare Assignment”. This is the difference on whether your doctor will bill you for “excess charges”.
If your doctor accepts “Medicare Assignment” then they have agreed to accept what Medicare pays them.
If your doctor only accepts “Medicare” then they take what Medicare pays them and then have the ability to bill YOU 15% in addition to the Medicare reimbursement. Pretty crazy right?
How would the average person know if a doctor accepts “Medicare” or “Medicare Assignment”?
Well… you have to ask! Here’s the funny part… a lot of time the doctor’s office won’t know either! Many times they confuse it with Medicare Advantage!
So it is up to you to be comfortable with how the doctor will bill you.
Even though Plan N does not cover “Excess charges”… there are many times when it will still make sense as your Medicare supplement choice. If the premium difference is great enough then it is a good idea.
There are also 8 states that do not allow “excess charges”. If you live in one of those states then it may makes sense to consider Plan N.
Which states are they?… Watch the video!!
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