As we look at retirement, we are faced with several big challenges. Securing the proper Health Care Plan is just one of the issues that we face.

The tough thing to do is to find a plan that is affordable but also offers the right coverage, when living on a fixed income coverage and price are a major factor to take into consideration.

As of 2010 Medicare Plan N was unveiled creating an affordable alternative to Medicare Advantage. This is great option to look at if you are trying to stay within a budget but having great coverage is important to you. This plan was a welcome result of the Medicare Modernization act.

One of the reasons why there is a lower monthly cost with N in comparison to other plans is because there are some cost sharing options built in.

The breakdown of the plan works like this. The large Part A deductible of $ 1132 as of 2011 and all of the Co-Insurance for Part A is covered. Part B of Medicare is also covered for co-insurance. However the Part B deductible of $ 162 as of 2011. Also part of the cost sharing is a $ 20 co-pay at the doctors office and a $ 50 co-pay at the emergency room that is waived if you are admitted.

A side benefit of Plan N is that typically rate increases are less than other supplement plans because of the cost sharing built into that plan.

So for folks with restricted budgets you can still have the level of quality and freedom of choice that traditional Medicare and a supplement plan offers just at a lower price. A large percentage of our clientele has elected to have a Plan N. We would love to discuss whether it might be a good option for you.