Mutual of Omaha Medicare supplement Plan G has become a very popular plan option but some argue that Plan N may save you money. This article will outline the benefits of these two Mutual of Omaha Medicare supplements and look at the pros and cons of Plan G vs Plan N.
One thing to keep in mind when comparing these plans is there’s more to saving money than merely having lower premiums. If lower premiums are the goal, Plan N will win that contest primarily because the benefits are not as generous as Mutual of Omaha Medicare supplement Plan G benefits.
When comparing these two plans for cost savings you’ll need to consider your overall health, how often you visit a doctor and any major health issues on the horizon.
Mutual of Omaha Medicare supplement Plan G vs Plan N benefits
There are currently 11 standardized Medigap (Medicare supplement) plans. After January 1, 2020 Medicare supplement Plan F and Plan C will not be sold due to legislation that takes effect then. Other available plans are less than comprehensive and not very popular. Review the chart below to compare Mutual of Omaha Medicare supplement Plans G and N.
|Mutual of Omaha Medicare Supplement Plan G vs Plan N|
|Plan G||Plan N|
|Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are exhausted||Yes||Yes|
|Medicare Part B coinsurance or copay||Yes||Yes**|
|First three pints of blood||Yes||Yes|
|Medicare Part A hospice coinsurance or copay||Yes||Yes|
|Skilled Nursing Facility (SNF) coinsurance||Yes||Yes|
|Medicare Part A Deductible||Yes||Yes|
|Medicare Part B Deductible||No||No|
|Medicare Part B Excess Charges||Yes||No|
|Foreign Travel Emergency (Up to Plan Limits)||80%||80%|
**Plan N pays 100% of the Medicare Part B coinsurance. There are a two exceptions: Certain office visits may require a copay of up to $20; and emergency room visits that don’t result in your being admitted inpatient may require a copay of up to $50.
Potential Costs: Plan G vs Plan N
Some of your costs will be driven by plan design. It’s safe to say that if you are comparing plans from the same company, Plan N will have a lower premium because you are responsible for more out-of-pocket costs. By reviewing the chart above you can see that you may be subject to copays for doctor and ER visits as well as any excess charges under Plan N.
Both Mutual of Omaha Medicare supplement Plan G and Plan N require that you pay the Part B deductible before your plan will pay toward outpatient care (Medicare-covered preventative care excepted). The Part B deductible for 2017 is $183.
Your health and how often you use your plan will also have an impact on your costs. If you are a healthy individual that rarely visits the doctor or emergency room you may save money by owning Plan N.
In either case both Mutual of Omaha Medicare supplements are good choices when your goal is to supplement original Medicare. As with other insurance companies offering Medicare supplements, availability and rates can vary widely.
Since Medigap plans are standardized you would be wise to Compare Medicare Supplements from several companies to get the best rate. eHealth represents most carriers and you can compare and enroll online. They can also help you with your Medicare Part D prescription drug coverage. For personalized service you can speak with an agent toll free at (800) 310-0376.