Aetna Medigap Plan G Coverage

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Aetna is a global healthcare industry leader and has been for decades. Starting in the 1960s, when they began offering Medicare products, and up until today and beyond, Aetna has been and will continue to be a reliable partner for countless consumers.

In addition to the other 10 Medigap policies, Aetna offers Medigap Plan G, one of the market’s most comprehensive and fastest-growing Medigap plans. This article will give you an overview of Aetna’s Plan G offerings and a bit more information about Aetna as a company. 

Aetna & Medigap 

AM Best – the insurance industry gold standard for quality-assurance ratings – gives Aetna an “A” as a company. This alone should give you a high degree of confidence that Aetna’s plans are competitive and their services are reliable. When you’re shopping for policy’s, it’s important to keep in mind both price AND quality of service. 

Additionally, you’ll want to keep in mind premium rates and out-of-pocket costs. Just because a policy has lower premiums doesn’t necessarily mean it’s a good policy. Higher premiums can sometimes save you money on out-of-pocket expenses. 

Our licensed experts will tell you that when it comes to Aetna’s Medigap policies, it’s hard to beat their coverage, prices, and quality of service. 

Now we’ll tell you a little bit more about Aetna’s Plan G policies, as this plan is one of the most asked-about plans on the market.

What Does Aetna’s Medigap Plan G Cover?

Plan G is the second most comprehensive Medigap plan behind Plan F. However, Plan F has been phased out by the federal government, so if you’ve joined Medicare on or after January 1, 2020, then you can no longer enroll in Plan F (if you had Plan F before January 1, 2020, you can keep it for forever). As a reminder, Plan F covered 100% of the gaps Original Medicare left behind. Plan G is nearly as comprehensive, except Plan G does not cover the Medicare Part B deductible. The 2021 Part B deductible is $203. 

While new enrollees are no longer eligible for the more comprehensive Plan F, there is reason to be optimistic. Plan F has higher premiums than Plan G. The money you can potentially save in a year by paying Plan G’s lower premiums may outpace the money you save by not paying the Part b deductible under Plan F. As a matter of fact, if you’re enrolled in Plan F you may find that it is better on your budget to switch to Plan G. 

So, Plan G covers everything that Medicare Part A and b cover at 100%, except for the Part B deductible. This essentially means that you will not have to worry about out-of-pocket expenses for covered services and treatments once you have met your Part B deductible. 

As with Medigap Plan F, Plan G has you covered from “excess charges” as well. An excess charge is when you visit a doctor that doesn’t accept Medicare-appointment, and they charge you a higher price. Legally, doctors that do not accept Medicare can charge you up to 15% more than the Medicare-approved amount for the same service. With Aetna’s Plan G, there is no need to worry about these charges. 

If you’re in poor health or otherwise have frequent doctor’s visits, or if you think you might need a good deal of medical help in the future, Plan G is a good plan for you. It’s highly comprehensive in coverage, and many policyholders like the peace of mind Plan G provides. 

Senior men discussing Aetna Medigap Plan G coverage.
As with Medigap Plan F, Plan G has you covered from “excess charges” as well.

How Can I Enroll in Aetna’s Plan G?

The best time to enroll in Aetna’s Plan G – or in any Medigap plan – is during your Medigap Open Enrollment Period (OEP). Your OEP begins when you turn 65, and your Medicare Part B is effective. Your OEP remains open for 6 months. If you are 65 or older and on Medicare, you can buy a Medigap policy at any time, though you may be subject to medical underwriting and health screening if you enroll outside of your OEP. Crucially, if you enroll during your OEP, then providers must charge you the same price for the same plan regardless of your medical history or current medical status. 

What is Aetna Medicare Supplement Rate Increase History?

Don’t forget; all insurance companies increase their rates. This practice is not unique to Aetna. It is helpful information to have an idea of a company’s rate increase history, but it is not necessarily make-or-break information. 

Additionally, it’s extremely difficult to predict rate increases from year to year. You really just have to wait until the numbers come out to see what you will have to pay. Rate increases are affected by numerous factors such as your location, policy type, and the company you’re purchasing your rate form. For these reasons, predicting rates can be a bit of a fool’s errand. 

Like most companies, Aetna historically increases its rates between 3 and 10 percent a year, depending on numerous factors. One bonus that Aetna offers is a 12-month rate guarantee that your rates will not increase in your first year of holding an Aetna policy. Aetna also has a 30-day Free Look Period, which allows you to cancel your policy within the first 30 days the policy is active, no questions asked.  

Is Aetna the Best Medigap Provider? 

“Best” is a subjective term, so we won’t go quite that far. The best policy for you will depend on your personal health situation, your budget, your location, and much more. However, we do stand by Aetna as a top-tier Medigap policy provider. 

Enrolling in Aetna’s Medigap Plan G 

If you like the sounds of having an Aetna Medigap Plan G policy, feel free to reach out to one of our licensed Medicare experts today. We can tell you a bit more about both Aetna and Plan G, as well as give a price quote. Additionally, we can walk you through other Medigap options so that you wind up having the best healthcare plan for your personal needs.

 

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