Getting an insurance plan that offers a comprehensive package of benefits such as an Aetna Medicare Supplement plan to complement the Original Medicare is one way of securing the future and shielding oneself from surprises of high costs of healthcare services.
A Medicare Supplement Plan is a supplemental health insurance plan that a Medicare beneficiary may avail of to cover for those health-care related expenses not covered under the Original Medicare. Examples of these costs are coinsurance, copayments, and deductibles. Costs incurred for long-term care, vision or dental care, hearing aids, eyeglasses, or private duty nursing are not covered under a Medicare Supplement Plan.
A brief overview of the Medicare program
The Medicare Program, as a whole, provides health care insurance for Americans who are 65 years old and above, persons under the age of 65 but with disabilities, and those who are afflicted with certain diseases.
The health care benefits under the Medicare Program is categorized into four parts, namely, Part A, B, C, and D.
Medicare Part A, also known as the hospital insurance part, covers those expenses incurred by the patient is receiving treatment while admitted to a hospital. It includes inpatient care in a hospital, in a skilled nursing facility, or in a religious, nonmedical health care institution. If a patient needs it and if his attending doctor would certify that hospice care or home health care is essential to his recovery or medical condition, Medicare Part A will also cover for such.
Medicare Part B, on the other hand, covers medically necessary services of a medical professional, outpatient care, home health services, durable medical equipment, mental health services, and other related medical services, aside from preventive health care services. There are no out-of-pocket costs for preventive health care services if this was acquired through a doctor or health care provider who accepts Medicare assignments, but there may be a payment for either a deductible, coinsurance, or both for some preventive service or if a patient availed of such during a doctor’s visit for a non-preventive service.
Medicare Advantage Plan is the other name used for Medicare Part C. This plan is usually acquired through a private insurance provider and with a corresponding cost. It also provides the same coverage with that of Medicare Part A and Part B but with some extras such as vision, hearing, dental, and other health and wellness programs. Some of the plans being offered in the market also include a Medicare Prescription Drugs Plan, which is also called as Medicare Part D.
For this component of the program, Medicare Part D helps cover the cost of prescription drugs. A person may acquire one from a private insurance provider if Original Medicare covers him. Each plan costs differently and covers different types of prescription drugs. One has to take time to analyze the Prescription Drugs Plan being offered to him and see if the coverage offered will be beneficial for him.
Aetna Medicare Supplement Plan G
Though the hospital and medical insurance provided under Medicare Part A and Part B are sufficient as it can be, there are remaining gaps regarding costs that the individual will have to pay out-of-pocket. A way to do away with these out-of-pocket costs is to get coverage under a Medigap.
Aetna was established as a life insurance company way back in 1850. With over 23 million health insurance members and 15.2 million prescription policy members, they are known for offering life or Medicare supplement plans for individuals, groups, and families, aside from promoting charitable activities.
Though Aetna offers both Medicare Advantage Plans and Medicare Supplement Plans, the company has listed several advantages of Medicare Supplement Plans over the other. One is that the Medigap policy can be used with any doctor, clinic, or hospitals that accept Medicare patients and that it can be used if one needs access to healthcare service if he is outside the country.
Aetna carries all ten types of Medicare Supplement Plans but the most popular ones are Plans F, G, and N. Though Plan F offers the most comprehensive set of benefits’ package, it does not come in cheap. Because of this, consumers turn to Aetna Medicare Supplement Plan G because it offers a lot of value regarding health care coverage but in a lower than that of Plan F.
Availing of Aetna Medicare Supplement Insurance entitles the covered individual to 100 percent of Medicare Part A coinsurance and hospital costs of up to an additional 365 days after Medicare benefits have been used up. The same goes for Medicare Part B coinsurance or copayment.
It also pays the full amount of three pints of blood and Part A hospice care coinsurance or copayment. Aside from those who have been mentioned already, Plan G covers 100 percent of Part A and Part B deductible, Part B excess charges, and for 80 percent of the cost of foreign travel emergency medical services, up to plan limits.
The only difference of Aetna Medicare Supplement Plan G to Plan F is that it does not cover the cost of Part B deductible. However, the amount of Part B deductible in 2017 was $182, so Plan G remains a good deal for those who want to save money but still wants to have maximum health care protection.
Do note, however, that even though the benefits’ package offered under different Medicare Supplement Plan is standardized across the country, the cost differs from each state. The premium paid for this supplement plan is on top of what is paid for the Original Medicare Part B premium.
For those who are interested in signing up for an Aetna Medicare Supplement Plan may do so during the Open Enrollment Period, which starts when as soon as the person turns 65 years old and has already signed up for Medicare Part B coverage. These two conditions must be fulfilled first before he can sign for any Medicare Supplement Plan, for that matter. To further illustrate, he cannot enroll for a Medigap plan if he is already 65 years old but was only able to enroll under Medicare Part A.