They have an extensive, solid customer base and some would say they are among the best carriers in the country. Aetna Medigap insurance reviews include their conservative rate increases and one-year rate lock.
Medicare is a federal government sponsored health insurance program designed to provide coverage for seniors 65 years of age and above. You automatically become eligible for Medicare when you turn 65. Medicare doesn’t provide full coverage; there are coverage gaps that result in certain out-of-pocket expenses for recipients.
Some of these expenses arise from deductibles, co-pays, and coinsurance. Under Original Medicare, there’s no annual cap on cost sharing expenses. People who visit their doctors on a regular basis can see their co-payments and coinsurance increase pretty fast, which is why they need to seek additional coverage to reduce your out-of-pocket expenses.
If you’re a Medicare beneficiary and you’re not covered under any other type of health insurance — say your employer’s or private health insurance plan — you should purchase a Medicare Supplement insurance plan for additional coverage.
Supplement insurance, also known as Medigap or sometimes Medsup, is a type of Aetna Medicare Supplement plans policies that helps Medicare beneficiaries pay for the out of pocket costs not covered by Original Medicare and fill the coverage gaps. First we’ll review the types of supplement plans available, then we’ll review some of the specific Aetna Medigap plan options.
State Plans Available
There are ten Medigap plans labelled alphabetically between letters A to N. Each letter represents a category of benefits offered under that particular plan and coverage level varies across the letters. For instance, Plan F offers more coverage than Plan A, no two plan letters are identical.
Same Coverage Benefits, Different Prices
Though these plans are standardized, only the coverage aspect of the plans is controlled. Prices vary from carrier to carrier as they are not regulated. This doesn’t mean you’ll pay exorbitant rates to obtain coverage. There are many companies offering these plans, and their goal is to make sales, and if they want to remain competitive, they have to maintain affordable rates. Many Medicare beneficiaries choose to settle for established providers like Aetna.
Available Aetna Medigap Plans
As pointed out earlier in the article, there are ten standardized plans available in the United States. These plans are designated alphabetically by letters running from A through N. Out of the ten standardized Medigap plans, Aetna provides plans in most states with each plan covering different out of pocket costs. Aetna coverage allows you to receive medical services in any heath care facility in the country.
Note that Medigap insurance doesn’t substitute or replace Original Medicare. Both Aetna Medigap policies are supposed to work together to provide a enough level of coverage for Medicare beneficiaries. Original Medicare is a prerequisite to purchasing a Medigap plan. Below explains the coverage of the top supplement plans Aetna offers:
Aetna Medigap Plan A is the most basic plan. If a carrier provides these plans, they are required to provide plan A. In other words; an insurance company cannot sell Aetna Medigap insurance plans if they don’t provide Medicare Supplement Plan A.
The following benefits are available under this plan:
- Provides coverage for the first three pints of blood
- Provides coverage for Medicare part A hospice co-payment or coinsurance
- Medicare Part B co-payment and coinsurance
- Medicare Part A hospital costs and coinsurance
Plan B Medicare Supplement offers payment for Medicare Part B deductible in addition to all benefits covered by Plan A above. It does not include coverage for skilled nursing, Part B excess charges or any foreign travel coverage.
Aetna Medigap Plan F
Medicare Plan F is the most sought after of all Aetna Medigap policies since it provides the most benefits. It covers all the core policy benefits as well as your Part B deductible and any doctors excess charges.
Aetna Medigap Insurance Plan F provides the following benefits:
- Emergency care when a Medicare beneficiary is traveling to a foreign country
- Full coverage for coinsurance if a patient receives comprehensive nursing care
- Pays for Medicare Part B excess charges
- Pays deductible for Medicare Part B in full
- Covers all the other benefits listed with Plan A and Plan B
Aetna Medigap Plan G
Aetna Medigap Plan G benefits are the second-best plan in regard to coverage aside from Plan F. The only benefits not included is your Part B deductible. It does cover foreign travel and excess charges from your Part B of Medicare.
Aetna Medigap Plan N
Aetna Medigap Plan N is the third most popular plan because it includes all of the same benefits as Plan G, except it doesn’t cover your Part B excess charges from doctors. It also has a small copay for some office visits and emergency room care. This plan is found to be cheaper than the above plans, but still have decent benefits.