Aetna Supplement Insurance is a type of insurance that covers the gaps in your Medicare coverage. Medicare is a federal health insurance program for people who are 65 or older, or younger people with certain disabilities or conditions. While Medicare provides a lot of benefits, it doesn’t cover everything. That’s where Aetna Supplement Insurance comes in. This article will tell you everything you need to know about Aetna Supplement Insurance, including what it covers, how much it costs, and how to enroll.
What is Aetna Supplement Insurance?
Aetna Supplement Insurance, also known as Medigap, is a private insurance policy that helps cover the gaps in your Medicare coverage. It’s sold by private insurance companies, such as Aetna, and helps pay for things like copayments, coinsurance, and deductibles. There are several different types of Aetna Supplement Insurance plans, each with different levels of coverage. These plans are standardized by the federal government, so no matter which insurance company you buy your plan from, the coverage will be the same.
How Does Aetna Supplement Insurance Work?
Aetna Supplement Insurance works by filling in the gaps in your Medicare coverage. When you go to the doctor or hospital, Medicare will pay its share of the bill, and then your Aetna Supplement Insurance plan will pay its share. Depending on which plan you have, your Aetna Supplement Insurance plan may cover some or all of your copayments, coinsurance, and deductibles. Some plans may even cover certain services that aren’t covered by Medicare, such as medical care when you’re traveling outside of the United States.
Who is Eligible for Aetna Supplement Insurance?
In order to be eligible for Aetna Supplement Insurance, you must be enrolled in Medicare Parts A and B. You must also live in the state where the policy is being offered. If you have a pre-existing condition, you may still be eligible for Aetna Supplement Insurance, but you may have to pay a higher premium.
What Does Aetna Supplement Insurance Cover?
The exact things that Aetna Supplement Insurance covers will depend on which plan you have. However, all Aetna Supplement Insurance plans must cover certain basic benefits, including:
Basic Benefits: |
Plan A: |
Plan B: |
Plan C: |
Plan F: |
Plan G: |
Plan N: |
|---|---|---|---|---|---|---|
Medicare Part A coinsurance and hospital costs after you’ve used up your Medicare benefit period |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Medicare Part B coinsurance or copayment |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
First three pints of blood |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Part A hospice care coinsurance or copayment |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Skilled nursing facility care coinsurance |
No |
Yes |
Yes |
Yes |
Yes |
Yes |
Medicare Part A deductible |
No |
Yes |
Yes |
Yes |
Yes |
Yes |
Medicare Part B deductible |
No |
No |
Yes |
Yes |
No |
No |
Medicare Part B excess charges |
No |
No |
No |
Yes |
Yes |
No |
Foreign travel emergency (up to plan limits) |
No |
No |
No |
80% |
80% |
80% |
As you can see, the more comprehensive plans, such as Plan F and Plan G, cover more benefits than the basic plans, such as Plan A and Plan B. However, they also tend to have higher premiums.
How Much Does Aetna Supplement Insurance Cost?
The cost of Aetna Supplement Insurance will depend on a number of factors, including which plan you choose, where you live, and your age. In general, the more comprehensive plans will have higher premiums. However, since Aetna Supplement Insurance plans are standardized, the coverage will be the same no matter how much you pay for your plan.
When Can You Enroll in Aetna Supplement Insurance?
The best time to enroll in Aetna Supplement Insurance is during your Medigap Open Enrollment period. This is a six-month period that starts the month you turn 65 and are enrolled in Medicare Part B. During this time, you have a guaranteed issue right, which means that insurance companies can’t deny you coverage or charge you higher premiums because of pre-existing conditions. If you miss your Medigap Open Enrollment period, you may still be able to enroll in Aetna Supplement Insurance, but you may have to pay a higher premium or be subject to medical underwriting.
FAQ
What is the difference between Medicare and Aetna Supplement Insurance?
Medicare is a federal health insurance program that provides coverage for people who are 65 or older, or younger people with certain disabilities or conditions. Aetna Supplement Insurance is a private insurance policy that helps cover the gaps in your Medicare coverage. While Medicare provides a lot of benefits, it doesn’t cover everything. Aetna Supplement Insurance helps pay for things like copayments, coinsurance, and deductibles, so you don’t have to pay for them out of pocket.
What does Aetna Supplement Insurance cover?
The exact things that Aetna Supplement Insurance covers will depend on which plan you have. However, all Aetna Supplement Insurance plans must cover certain basic benefits, including Medicare Part A and B coinsurance, hospice care coinsurance or copayment, and the first three pints of blood. Some plans may also cover services like skilled nursing facility care, Medicare Part A and B deductibles, and foreign travel emergency care.
How much does Aetna Supplement Insurance cost?
The cost of Aetna Supplement Insurance will depend on a number of factors, including which plan you choose, where you live, and your age. In general, more comprehensive plans will have higher premiums. However, since Aetna Supplement Insurance plans are standardized, the coverage will be the same no matter how much you pay for your plan.
When can you enroll in Aetna Supplement Insurance?
The best time to enroll in Aetna Supplement Insurance is during your Medigap Open Enrollment period. This is a six-month period that starts the month you turn 65 and are enrolled in Medicare Part B. During this time, you have a guaranteed issue right, which means that insurance companies can’t deny you coverage or charge you higher premiums because of pre-existing conditions. If you miss your Medigap Open Enrollment period, you may still be able to enroll in Aetna Supplement Insurance, but you may have to pay a higher premium or be subject to medical underwriting.
Is Aetna Supplement Insurance the same as Medicare Advantage?
No, Aetna Supplement Insurance is not the same as Medicare Advantage. Medicare Advantage is a type of Medicare plan that is offered by private insurance companies. It replaces your original Medicare coverage and may offer additional benefits, such as prescription drug coverage, dental and vision coverage, and fitness programs. Aetna Supplement Insurance, on the other hand, works with your original Medicare coverage to help cover the gaps in your coverage.
Can you switch Aetna Supplement Insurance plans?
Yes, you can switch Aetna Supplement Insurance plans at any time. However, you may have to go through medical underwriting and you may not be able to switch to a plan with more comprehensive coverage than your current plan.
Conclusion
Aetna Supplement Insurance is a valuable tool for anyone who is enrolled in Medicare. It helps cover the gaps in your coverage, so you don’t have to pay for things like copayments, coinsurance, and deductibles out of pocket. While the cost of Aetna Supplement Insurance may vary depending on a number of factors, it’s worth considering if you want to have more comprehensive coverage. If you’re interested in enrolling in Aetna Supplement Insurance, be sure to do your research and compare plans to find the one that’s right for you.