Health insurance generally describes all programs that help eligible beneficiaries pay for their medical expenses. Government-funded programs like Medicare and privately purchased insurance provide similar benefits. The coverage of a plan is dependent on the eligibility of the applicants and the availability of the services in the health care institution they request the service from.
Medicare is different from another government-funded health care program called Medicaid. While Medicare provides services to those who have paid the insurance fee during their employment, Medicaid is designed for those who were unable to previously pay for the fee. This is created by the government to promote equality among US residents who need financial assistance when it comes to medical expenses. However, the services offered by Medicaid are often a lot less valuable than those in Medicare.
Medicare offers a lot of benefits categorized into three main groups. The first group of benefits covers for the hospitalization of the beneficiary, including the necessary tests he or she needs to undergo and the food he or she receives during hospitalization. The second group covers for the medical expenses of the beneficiary, specifically those that are no longer covered by the first group.
The third group covers for medication needs of the beneficiaries. Medicare policyholders can take advantage of large discounts on pharmaceutical medicine or even get these medications for free. Those benefits not covered by any of these groups are covered completely by supplement plans such as Medicare Supplement Plan N.
A Medicare supplement plan is a health insurance plan that can be added to the original Medicare plan. A supplement plan offers extended coverage and benefits not offered by the basic Medicare plan. Supplement plans are provided by private insurance companies and can be applied for by anyone eligible for the basic benefits of Medicare. To date, there are ten supplement plans available to Medicare beneficiaries, represented as Medicare Supplement Plan A to Medicare Supplement Plan N.
Among all the supplement plans available, Medicare Supplement Plan N is one of the newer plans offered to Medicare policyholders. First offered in June 2010, Plan N uses a co-payment structure for doctors visits and emergency room visits. Plan N is often available at lower premiums compared to other supplement plans.
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