Reaching the age of 65 will be a time when you will join Medicare for your health insurance needs. Medicare Part A will cover health care facility expenses and Medicare Part B will cover your physician costs. Medicare Part A will have copayments and deductibles and Medicare Part B will have monthly premiums, copayments and deductibles.
A Medicare supplement plan will help cover the remaining costs not cover by Medicare Part A and Part B. Medicare pays 80% of the medical expenses and the remaining 20% will be taken care of by your Medicare supplement plan. Your medical expenses will have to meet the Medicare Part B deductible before Medicare starts to pay its part. If you travel out of the United States often, and have some health issues, some Medicare supplement plans will cover your expenses up to 80%, so this may be a benefit you wish to include in your coverage.
When you decide to get your Medicare, it is good idea to get your Medicare supplement plan within 6 months after you turn 65. Any existing medical problems you may have will still be covered, but if you wait beyond that time frame, you may find that the plan will not cover your medical condition. These Medicare supplement plans renew yearly. As long as your physician takes Medicare, you will be covered for your medical needs for the physician services, as well as, at a health care facility. There are 10 Aetna Medicare supplement plans and all these plans are standardized, meaning they are the same, no matter which insurance agency you use to purchase your plan. There are 3 states that are not regulated and they are Minnesota Wisconsin, and Massachusetts.
It is important to note, that the premiums for the Medicare supplement plan will be different wherever you reside. Those premiums are decided by the insurance company and can be greatly different from company to company. Medicare supplement plans will not cover prescription drugs, vision, hearing, or dental. You do have the choice of getting a Medicare Part D plan that will cover prescriptions. This too will be available from various insurance companies. It is very important to review each Medicare supplement plan to see which one will cover your medical needs. The more coverage you get will increase the monthly premiums as well. Going to local seminars or looking online at Medicar.gov will help you in your decision.