2020 premium payment options for MA/MAPD plan members
Remember, when members enroll in an MA/MAPD plan, they must select a premium payment method on the enrollment form.There are three payment options to choose from: an automatic deduction from a bank account (i.e., EFT); a coupon book payment or monthly invoice (i.e., direct pay); or a Social Security Administration or Railroad Retirement Benefit deduction.
Top 6 questions members have about the payment options
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What is a monthly invoice or coupon book?
A monthly invoice or coupon book is sent to give members a way to pay their monthly premium. If members select the direct pay option, they'll receive a monthly invoice or a coupon book to pay their monthly premium.
Note: In 2020, some members who previously used a coupon book for payments, will begin receiving monthly invoices instead. Invoices are sent when balances are owed or if there is other account activity including payments, retro charges, or adjustments (such as refunds, bank returns, etc.).
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When are monthly plan premiums due?
Premium payments are due on the 1st of each month.
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Can members using a coupon book or monthly invoice pay more than the amount due?
Yes, they can prepay by making quarterly or annual premium payments.
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Can members send one check to pay for themselves and their spouse?
Yes. They can send one check to pay both plan premiums. They'll just need to include both coupons otherwise the payment will go to only one account.
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How can members change their payment option to have the premium automatically deducted from a bank account or credit card?
They can sign up for automated payments through an electronic funds transfer (EFT) by calling the number on their Aetna member ID card. Premium payments are withheld between the 10-15 of each month.
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How can members update their contact information?
To update their address, phone number or other contact information, they can call the number listed on their Aetna member ID card.
If you have any questions, just contact your Aetna Medicare Broker Manager. Or contact the Aetna Medicare Broker Services Department at 1-866-714-9301, there normal business hours are Mondays - Fridays from 8 a.m. to 8 p.m. ET.
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