Reaching the age of 65 entitles you to join Medicare for your health insurance needs. Medicare Part A will cover your hospital services and Medicare Part B will cover your physician services and medical tests that may be needed. Medicare Part A may have yearly deductibles, as well as copayments. Medicare Part B will also have a deductible, copayment and premiums which should be considered. The main reason to acquire a Medicare supplement plan is that Medicare will only pay 80% of your medical expenses. The remaining 20% will be your responsibility and a Medicare supplement plan will help cover those.
In order to get a Medicare supplement plan, one must have Medicare Part B. You still have to pay the Medicare Part B deductible, if that is the plan you wish to have. There are 10 Medicare supplement plans and are known by the letters A-N. Each plan will have different coverage for the medical services and should be looked at carefully to see what plan will meet your medical needs. These plans are standardized, so they are the same for every insurance company you may consider. The difference will be in the monthly premiums and this may help you in deciding which plan you choose.
It is important to consider getting your Medicare supplement plan within 6 months of joining Medicare. Any medical condition you may have will not be rejected within that time. If you get a plan later than the 6 months, you may find your medical condition may be rejected and your premiums may be a lot higher. So it is important to be aware of this condition when getting one of the Aetna Medicare supplement plan.
Some plans will cover you when you travel outside the United States. This may be important to you and you will find some Medicare supplement plans will cover your health emergencies in another country up to 80%.
Medicare supplement plans are purchased from private insurance companies. They are standardized and will be the same no matter which insurance company you choose. The difference will be in where you reside and the monthly premiums. The premiums are determined by each insurance company, so it is important to check out all the plans, as well as the insurance company you may wish to go with.
You will need to go to a physician who takes Medicare, so you may have to change your doctor if this is the case. Looking at each plan will help you to decide which Medicare supplement plan is for you.