For seniors interested in getting help covering medical expenses and hospital costs, Aetna Medicare Supplement Plan F is one of the best options available. Medicare Supplement insurance provides health care coverage in addition to the Medicare benefits beneficiaries receive through Medicare Part A and Part B (Original Medicare).
Aetna Medicare Supplement Plan F is called Aetna Medigap Plan F because it bridges the coverage gap between what Original Medicare pays and what the beneficiary has to pay. It does not offer prescription drug benefits. Like with all Medigap plans, to get outpatient medication benefits, you must buy a stand-alone Prescription Drug Plan.
To remain eligible for Aetna Medigap Plan F, you must remain enrolled in Medicare and pay your Medicare Part B premium.
Aetna Medicare Supplement Plan F Benefits
Aetna Medicare Supplement Insurance Plan F is frequently called “first-dollar coverage” because it pays your cost-share amount starting with the first dollar you owe. Here is an overview of the benefits that Aetna Medigap Plan F covers 100%:
- Medicare Part A coinsurance and hospital costs for up to one year after your Medicare benefits are used
- Medicare Part A deductible
- Part A hospice care coinsurance
- Part A hospice care copayment
- Medicare Part B coinsurance
- Medicare Part B copayment
- Medicare Part B deductible
- Medicare Part B excess charges
- First three pints of blood
- Skilled nursing facility coinsurance
Aetna Medigap Plan F also covers 80% of the following benefits:
- Foreign travel emergencies (up to plan limits)
Aetna Medicare Supplement Plan F Rates
Because Aetna Medigap Plan F features the best benefits coverage, it also has the highest rates in comparison to other Medigap plans. However, Medigap Plan F rates are potentially more stable because Aetna covers the highest number of beneficiaries, so the risk can be spread among more policyholders. Even so, Medicare Supplement Plan F rates vary between insurance providers.
Each insurance company sets its rates based on factors such as location and gender. The rating method a carrier uses also affects prices.
To discover the best Medicare Supplement Plan F rates, beneficiaries must compare rating methods. Rating methods affect how the monthly premiums will change in the future. Carriers use one of three methods:
- Attained-age: Your age determines your Medigap policy premium. Premiums will increase as you get older.
- Issue-age: Your age when you take out the Medigap policy determines your premium. Premiums can increase because of inflation but never because of your age.
- Community rated: All beneficiaries pay the same rate regardless of age.
It is important to understand that Aetna, or any other insurance company, may choose one rating method in one state and another method in another state. Also, annual increases in rates differ between states based on geographic considerations.
Aetna Medicare Supplement Plan F Reviews
Aetna has provided health care benefits to beneficiaries for more than 160 years and is one of the best-rated Medicare Supplement policy carriers. In comparison to other top-rated carriers, Aetna has one of the largest enrollee populations covered by Medicare Supplement plans. The long-term stability and large beneficiary base offer several benefits for seniors considering Aetna Medigap Plan F or any Medigap plans:
- Creates more stability with rates
- Provides greater customer service
- Generates a high insurance company rating
- Reflects good financial strength
Aetna Medicare Supplement Plan F Vs. Plan G
When you compare Medicare Supplement plans, Aetna Medigap Plan F is attractive for the broad benefits it covers. Another popular Medigap plan is Plan G. Here is how the two plan options compare.
- Benefits: The only benefits difference between the two Medicare Supplement plans is the Part B deductible. Plan F covers the deductible; Plan G does not.
- Rates: Aetna’s Medicare Plan F rates have remained competitive nationwide. They typically are higher than Plan G because Plan F offers the best benefits. When you compare annual rate increases, Plan G increases generally are lower than Plan F.
Aetna High Deductible Medicare Supplement Plan F
Beneficiaries willing to assume more cost-sharing for medical expenses can choose the Aetna high deductible Medicare Supplement Plan F as their Medigap plan. Benefits are the same as Plan F, but under the high-deductible plan, the beneficiary pays copayments, deductibles, and coinsurance up to a maximum out-of-pocket deductible. In 2019, the deductible is $2,300.
Like regular Plan F, the high-deductible Plan F will not be available to beneficiaries eligible after Jan. 1, 2020.
Medicare Supplement insurance can be confusing, and our insurance agents are waiting to help. We can compare whether the high-deductible option is the best Medicare Supplement Plan F for you, help you compare plans, and explain the plan limits of each Medigap policy.
We can also answer questions about your Medicare benefits. Give us a call today, and we will help you find the best benefits package for your needs.