Aetna Medicare Supplement Plan F
Multiple private insurance providers offer Plan F as part of their lineups of Medicare products. However, this Medicare Supplement is scheduled to sunset in 2020 but seniors who had already enrolled in this plan will keep receiving coverage.
Plan F is far from a unique plan in terms of the medical costs it covers but what makes it stand out is the fact that it picks the entire tab. This is concerning the deductibles, copayments, hospice care, and nursing care costs that seniors would otherwise pay out-of-pocket.
The Aetna Medicare Supplement Plan F works in collaboration with Medicare (inpatient and outpatient cover), much like all other Medigap policies. In Aetna’s case, they sweeten the pot by including added services as part of the package at minimal or no added expense to the beneficiary. It is for this reason that seniors consider Aetna as a premier provider of Medicare Supplements.
Aetna is not a new player in the insurance industry and they have years of experience in the field. Their reputable track record as an insurer of choice has helped them maintain strong visibility as one of the major insurers selling Medicare products. Aetna’s Medicare Supplement plans are also competitively priced and they stand out further because of the added perks.
Once again to reiterate, Plan F and high deductible Plan F have been discontinued since 2020. That means that only seniors who had already purchased this plan can keep its coverage if they please. The core benefit every insurer offers with Plan F across the board stays the same, and in essence, this supplement covers the medical costs that Original Medicare does not payout.
Aetna’s Plan F package provides seniors bundled their F Plan with benefits like access to healthcare professionals and experts. They are concerned about their beneficiaries’ health and help them maintain their overall wellness through perks like gym memberships and free medical checkups.
The primary differences between the Aetna Medicare Supplement Plan F package and what other insurers offer are the added benefits and price. Aetna packages the supplement as standardized by (CMS) Centers for Medicare and Medicaid Services but Aetna is at liberty to price it as they see fit. These changes are subject to various factors and you may get a quote today that will be different from what you ultimately pay for the plan. However, Aetna always informs their members about any price changes ahead of time.
How You Stand To Benefit From Plan F
Medicare Supplement Plan F provides seniors with the same basic coverage regardless of where they purchase the policy. Aetna is no exception as explained and the only difference is the premium you will pay for the cover as well as the added benefits they include to the package.
The full coverage that comes with Plan F that picks up the tab when Original Medicare had already paid the primary medical costs. They include:
- Blood usage – when seniors need blood transfusions, they can have up to three initial pints paid every year thanks to this cover.
- Seniors often need professional nursing care at one time or another, and Plan F handles these costs.
- Hospice care is required typically when seniors are battling life-limiting illnesses and it is focused on enriching their quality of life. Plan F includes these costs.
- Like all other supplements that are required to cover Medicare Part A deductibles (inpatient services) Plan F also pays these costs.
- Medicare Part B handles outpatient costs and with Plan F you will have the deductible related to this part paid.
- Excess charges on Part B can arise when you visit doctors or seek medical services over the limit of what Original Medicare prescribes. Plan F comes through and pays these costs.
- Copayments refer to the medical costs that Medicare covers partially and that means that it is up to seniors to pay for what is not covered. Plan F takes care of A and B copayments.
- Sometimes seniors might have to travel abroad to access special treatment and Plan F handles the cost.
In essence, all other Medicare Supplement policies cover just a few of these cost items but the difference is that they leave seniors with huge expenses in terms of what is not covered.
Important Details About Plan F Coverage
Members enrolled in Plan F are locked in to receive coverage for the agreed-upon period, and in essence, that means beneficiaries can not drop the policy mid-way. In the same breath, the rate paid and coverage provided for the term are locked without any changes imposed during the term.
When the term lapses, changes may be implemented in terms of rates and the benefits offered but the core coverage as outlined by CMS still stands if a senior elects to continue with the plan.
Head on to Aetna’s website to access the application forms necessary to renew your Plan F coverage. Remember that Plan F and its high deductible version have since been discontinued beginning of this year (2020). You can still contact them to find out more details about your existing Plan F policy and how the discontinuation might affect the future rates you pay.
Should You Keep Your Aetna Plan After 2020?
Given that Aetna Medicare Supplement Plan F is set to sunset in 2020, the insurer, and all others in general, will not include it on their lineup of Medicare products. Seniors who bought the plan last year or years before that can still access the full extent of this plan’s benefits.
Aetna still has the discretion of introducing price changes or switching up the added benefits bundled with this plan. Generally, these price changes do not factor things like age or changing health status, as long as a beneficiary purchased the plan during the Medicare Open Enrollment Period (OEP).
The best time to sign up for a Medicare Supplement is the time leading up to your 65th birthday. Usually, the OEP runs from mid-October to early December each year. As long as you are eligible to take up Medicare coverage by that time, you can initiate the enrollment process for a Medigap plan as well.
Visit Aetna’s website to find out more about maintaining your Plan F coverage going forward or details about switching to a different Medicare Supplement if you please.