AETNA Premiums and Coverage Updated
By Michael | Published October 26, 2012
AETNA is one of the latest insurers to reveal the new pricing points for their range of International Private Medical Insurance (IPMI) products. Together with BUPA, AETNA has also revealed an increase in the cost of its IPMI plans; with both companies providing similar adjustments levels (10% Aetna, 10.3% Bupa) that match the current global medical inflation trends and compensate for the increasing costs of medical treatment at major international hospitals.
Customers who have purchased plans after October 1st 2012, or who will be renewing their policies after that date will have the adjusted premiums placed on their policy.
While the increase of 10 percent may seem steep, it is important to realize that this is actually lower than AETNA’s 5 year average 11.9 percent premium inflation rate; and is only higher than the increases the company placed on its premiums in 2010 and 2012 which were 9.9 and 8.2 percent respectively.
However, outside of the normal yearly adjustment of plan premiums in relation to heightened levels of global medical inflation AETNA has taken some welcome steps to provide more comprehensive protection to policyholders and their families.
Starting with the inclusion of Traditional Chinese Medicine benefits in the prescribed under both Inpatient and Outpatient medication Coverage, in addition to offering rehabilitation protection under those same benefits, AETNA has drastically improved its maternity package by including expanded coverage for a range of maternity and infant related treatments.
Under AETNA plans, as of October 1st, they have extended the maternity coverage under the complications of pregnancy benefit where they will now offer post-natal check-ups for 6 weeks after the complicated birth. Furthermore, keeping with the family friendly developments, AETNA plans are now able to provide coverage for congenital anomalies in an infant up until the child has reached 12 months of age.
In a clear sign that the company is intending to attract more business from expatriate families around the world, AETNA has also improved the protection offered to dependents who are not infants by enabling coverage up until the age of 18 if the dependent is living with the policyholder, or up until the age of 26 if the dependent is enrolled in full time education.
Continuing the changes are a number of considerations which will enable even further flexibility to policyholders with an AETNA plan, including an extension of the claim submission deadline to 180 days after treatment – allowing for more give in relation to customer’s lives. However, AETNA plans will now limit Accidental Dental Treatment to one visit within 30 days of the initial accident or treatment which warranted the Dental care.
AETNA, which took over international insurance company Goodhealth, has shown with the update of its coverage offerings that it is committed to providing exceptional levels of protection to foreign nationals, and their families, whom are located around the world. While the average premium increase may, initially, seem high, the inclusion of a range of more innovative and comprehensive coverage should see the company well positioned to see success for the remainder of the year.