Aetna Medigap 2021
The level of coverage the Aetna Medigap 2021 lineup of plans offer is precisely the helping hand seniors need to afford their healthcare. Understandably, sometimes seniors might find the process of visiting the doctor’s office, hospital, or any other medical facility daunting. The reason is simple – the costs that come from such trips only lead to frustration while the main focus should be taking care of your health.
Why Would You Need A Medigap Plan in 2021?
Seniors are thankful for the Original Medicare healthcare program that kicked off in 1966 and has helped them cover their medical costs over the years. It became apparent that while the health insurance helped seniors, and other eligible adults, pay their medical costs, it did not pick up the full tab.
The gaps it left behind left seniors in a pickle because they had to meet these expenses themselves. That is when Medigap came up to essentially fill in the gaps and help seniors cover their healthcare costs as comprehensively as possible. Also called Medicare Supplement plans, these policies take care of Original Medicare (Part A and Part B) copayments, coinsurance, deductibles, excess charges, emergency travel abroad for medical care, and blood usage. Some Supplements also provide coverage for Medicare Part D which is known as the prescription drugs policy.
Seniors can’t have Medicare and a Medicare Advantage plan (Part C) because both essentially work the same way. Medicare Advantage plans are an alternative to Original Medicare with added benefits for instance, some packages might bundle in the prescription drugs cover. In the same way, Medicare Advantage plans cannot team it up with a Medigap plan. Both policies are underwritten by private insurers but the basic coverage is standardized by CMS (Centers for Medicare and Medicaid Services).
Medigap Plans Available In 2021
There are a total of 11 Medicare plans in existence, and this includes the four core Medicare parts. Part A (inpatient), Part B (outpatient), Part C (Medicare Advantage), and Part D (prescription drugs) make up the four core parts of Original Medicare. The Medigap plans include Plans F, high deductible F, G, K, L, M, and N.
As of 2020, Plans F and C have been discontinued, but beneficiaries who were already enrolled in these policies can maintain their coverage. This was in line with a congress decision that saw it fit to have seniors pay Medicare Part B deductibles out-of-pocket. These two plans take care of these deductibles. The setback that Medicare (the federal government) faced is that beneficiaries have misused this coverage, not because they need it, just because they have it.
The bottom line is that it costs a lot to keep paying out these claims while Medicare can channel it where it is most needed. The deductible is a negligible amount totaling $198 (for 2020), and in general, just about every Medicare beneficiary can meet this cost on their own.
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What You Should Know About Aetna Medigap For 2021
Aetna does not offer the full lineup of 11 Medigap plans in existence, and like all other insurers, it’s their discretion to pick which ones to sell to their beneficiaries. Their Medigap plans are standardized by CMS, like all other Medicare supplements in general, but Aetna typically sweetens the pot by including additional benefits to the Medicare Supplements they sell.
CMS requires all insurers to avail Part A coverage as part of all the Medigap policies they offer. They were also required to offer either Plan C or Plan F as part of the lineup of Medigap covers they sell. Aetna met these requirements, and like all other Medicare Supplement underwriters, they will continue covering beneficiaries who have pre-existing Plan F covers.
Currently, new Medicare Supplement subscribers find Plan G the most beneficial Medigap plan. This supplement matches the itemized list of costs that the recently phased out F Plan covered. The only cost that Plan G does not handle is the B deductibles.
Plan N is also another Medigap plan worth considering because it also handles the bigger out-of-pocket expenses and only excludes the smaller amounts. The excluded costs are usually the $20 copayment imposed on doctor’s visits, $50 for emergency room visit costs, and Part B excess charges.
When Should You Get A Medigap Plan?
Worth noting is that you need to sign up for a Medigap plan during the 2020 Initial Enrollment Period (OEP) for the coverage to kick off in 2021. You still have to meet certain eligibility criteria and the main one is having already enrolled in Original Medicare. To join Original Medicare, you should have just turned 65 or met other criteria for people below this age. The exception is mostly made for those who are disabled or suffering from end-stage renal disease.
You can sign up for Medicare, and hence Medigap, within the seven months leading up to your 65th birthday. This period is calculated as the three months leading up to your birthday, your birthday month, and the three months after your 65th birthday.
The reason why you also want to sign up for a Medigap plan at this time is because the insurer cannot turn down your application for reasons concerning your pre-existing health conditions. Otherwise, if you wait to purchase these plans much later, the insurer selling the supplement plan has the discretion of selling it to you with a higher premium rate if you have pre-existing medical issues.
Why Should You Purchase A Medigap Plan From Aetna?
The reason why Aetna stands out as the insurer of choice when purchasing Medigap plans is simply because of their member benefits. The Aetna Medigap 2021 lineup of plans come with added perks like personalized meal plans as well as workout regimens offered to beneficiaries. They provide several other perks that may vary based on the subscriber’s particular location.
Like with all Medigap plans, you can move with your Aetna policy to another state. The only aspect worth having in mind is that you might have to pay more for your supplement in a different state. Typically, in this situation, you may also be privy to more member benefits and this makes it all worth the price increment.
Aetna Medigap beneficiaries have the needed peace of mind everyone needs to know that their healthcare costs are covered.
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