The cost of healthcare is on the rise, as it is every year. These rates are only going to go higher, and as you grow older, the number of expenses you accrue for medical care are likely to increase. While you may be able to save money by using Medicare Supplement plans, you do need to understand how the rates can change and what you get for the money you pay. That’s why we want to focus on Aetna Medicare Supplement rates here.
Medicare Supplement Costs
The cost of Medicare Supplement plans is not something that is dictated by Medicare. It’s up to Medicare to design the plans and decide what rules govern those plans, but the individual insurance companies, like Aetna, get to decide how much to charge for the plans. It’s up to them to set their rates, and it is up to them to decide when to change their rates and what to change them to.
The rates tend to change about once a year, and if you’re signed up for one of their plans, then your rates are going to stay the same until your plan expires. That’s typically a one-year plan, and the rates are locked in for the plan’s duration. Once the term for the plan is over, though, then you can opt to get a different plan, cancel your plan entirely or renew at whatever rate is being offered. The end of a plan’s term is essentially an opportunity for you to renegotiate your coverage and rates.
Aetna will have its own set rates, and those rates change from place to place. In one state, Aetna may charge more than another, and for one person, it may cost more than another in the same area. Rates can change based on your preexisting medical conditions, but if you apply for your Supplement plan within six months of turning 65, then you don’t have to pay higher rates no matter what your medical status is like.
Now, we want you to look at what you can get for the rates being charged. It is important to know what your rates cover, so you know if the cost of the plan is worth what you will pay for it. We are going to look at three of the most popular plans, which also happen to be three of the highest coverage plans.
Aetna Medicare Supplement Plan F
This is the highest possible coverage plan you can get. It covers all the supplemental expenses, and we are going to list those here so that you know what a Supplement plan is able to cover for you. Other plans don’t cover as much, but they do take their coverage from this same list of items, so anything they cover will be included here. It just won’t be as much as Plan F covers.
When you look at Aetna Medicare Supplement rates, it is important that you know that Plan F is the most expensive coverage plan. That’s because it covers you for Medicare Part A and Part B copayments, for the Part A and Part B deductible and for Part B excess charges. Some of these are common expenses, while others are a bit rarer, but Plan F covers them all. It also covers the cost of Medicare Part A hospice coinsurance and skilled nursing care coinsurance. On top of that, it covers the cost of blood you use up to three pints every year and the cost of foreign travel exchange (or up to 80% for each incident, anyway).
That’s the full coverage plan, and every insurance company offers this. It’s not just Aetna, so if you don’t like their prices, then you can always get the same plan elsewhere. Keep in mind that no matter the rate you pay on a plan, that does not change its coverage. The higher coverage plans tend to be more expensive, but changing the rates does not affect the coverage in any way.
Aetna Medicare Supplement Plan G
With Plan G you get a lot of the same coverage. In fact, Plan F and Plan G are so similar that you will only see one item of difference between them. That’s the Medicare Part B deductible, which Plan F covers and Plan G does not. Everything else is the same between these two plans, except for the price. Plan F will always be more expensive, and you may be able to save some cash by going with Plan G instead.
Aetna Medicare Supplement Plan N
The Plan N rates are even lower than the other two plans we just covered. This plan covers a bit less than them, but not by much. It won’t cover that Part B deductible from Medicare, nor will it cover the Part B excess charges. It also asks you to pay a small copayment each time you visit the emergency room or doctor’s office.
Other than that, it covers all the same stuff as Plan F- the copayments, the Part A deductible, the blood, the coinsurance and the travel exchange. It’s a high coverage plan, but it shaves off some of the unnecessary expenses, or at least the ones that are unnecessary for a lot of seniors. This is a great plan for people who need a lot of coverage but don’t have the money to afford an expensive Supplement plan.
You can find out the prices on this plan and more by using a price comparison website or by visiting the Aetna website and requesting a quote. Know that the rates can and will change, so keep checking on them up until you are ready to sign up for a plan.
Aetna Medicare Supplement rates are not always the cheapest around, and you will want to compare them, but keep in mind that Aetna is a very stable, trustworthy and longstanding company that has a lot to offer its members through resources and benefits. Just be sure that you choose the most suitable plan for you at the best price, and if you do that, you can save a lot of money on health insurance.