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Hi everyone. I'm Lindsay Engle and I'm with Elite Insurance Partners and MedicareFAQ.com. Thank you so much for joining us. And in today's video, we're going to discuss and compare the differences between Medigap Plan F versus Plan G versus Plan N. But before we start comparing the plans, we need to address some important changes that have impacted all Medicare beneficiaries that were newly eligible as of 2020. The year that you became eligible for Medicare is what will determine which plans you are eligible to enroll in. So if you are eligible for Medicare before 2020, you can enroll at any of the top three plans being Plan F Plan G or Plan N. If you were not eligible for Medicare until this year or after 2020, you will not be eligible to enroll in Plan F. Your options will be Plan G and Plan N.
Plan F is considered a first-dollar coverage plan because it will leave beneficiaries with zero out-of-pocket costs outside of their monthly premium. With Plan F you'll have no cost-sharing. This includes deductibles, coinsurance, and co-pays.
Plan G has been the runner-up plan to Plan F due to it covering almost all of the same benefits. The only Benefit Plan G does not cover is the Part B deductible. The Part B deductible is $198. What this means is you'll have coverage for all of your out-of-pocket expenses, including co-pays coinsurance and deductibles. Once you've met that Part B deductible of $198, the only out-of-pocket costs will be what your monthly premium for Plan G.
Plan N has quickly become one of the most popular choices that our clients choose to enroll in. Plan N is considered a cost-sharing plan. This is because when you visit the doctor's office or the emergency room, you will have a small copay to pay. These co-pays are what keeps your monthly premium low. When you go to the doctor's office, you'll have a $20 copay. If you end up in the emergency room, you'll have a $50 copay. In addition to the co-pays, you’ll be responsible for the Part B deductible of $198 as well as any excess charges. However, most beneficiaries don't need to be concerned with excess charges. Some states do not even allow them and most doctors won't charge you with excess charges. Quick tip, If you can find an urgent care facility near you, then you won't have any copay to pay when you go to visit. This is important to take into consideration if you visit the doctor's office often. If you are not one to visit the doctor's office often then Plan N may be a good choice for you. It's important to remember that premiums vary from state to state.
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For information on the 2020 changes visit
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