Most employers know that medical plans are a benefit that they are expected to offer to their employees. That’s the easy part. The difficult aspect is that medical plans come in many shapes and sizes, don’t always cover everything and those with high deductibles can leave employees with financial stress.
“Employers and their benefits advisers often face pressure to develop packages that deliver attractive, cost-effective options to a workforce with diverse needs,” said Randy Finn, Senior Director, Voluntary Business, Aetna. “Bundling a medical plan with a supplemental plan is a helpful solution that can deliver both administrative and cost efficiencies to employers, including savings on premiums and fees, while also enriching the benefits package they can offer their employees.”
In 2019, Aetna introduced the Aetna Enhanced Medical BundleSM, which combines an Aetna medical plan with one or more of its supplemental plans. The Aetna supplemental plans pay cash benefits directly to members, which they can use to help cover medical plan expenses, like their deductible, or even everyday costs like childcare, rent and groceries. They also help ensure members can financially weather unexpected health events.
An Aetna Enhanced Medical Bundle can include one, two or all of three of the supplemental plans, which are:
- Aetna Accident Plan: Cash payments for common services related to an accident, like a broken ankle.
- Aetna Critical Illness Plan: Cash payments for expenses faced during a serious illness like cancer, stroke or heart attack.
- Aetna Hospital Indemnity Plan: Cash payments for out-of-pocket costs associated with a planned or unplanned covered inpatient stay.
On top of cash benefits, bundled plans provide additional benefits to members. They can manage their medical and supplemental benefits through a single website, and Aetna leverages the medical claim so employees don’t have to submit additional paperwork to get their supplemental claim paid.
Through one or more supplemental plans, members gain a cost-effective means to minimize out-of-pocket medical expenses and protect themselves from a potentially financially devastating medical event.
“Whether its related to a high-deductible health plan or another medical plan, the supplemental plans under the Aetna Enhanced Medical Bundle can give members confidence that they have a safety net in the event of a health care need and the ease of an all-in-one process to manage their benefits,” said Pat McGinn, National Vice President of Sales, Aetna.