(RTTNews) - Aetna, a CVS Health company (CVS), has introduced SimplePay Health, an alternative health plan. Under the plan, members pay a copay for every covered medical and pharmacy service up to their out-of-pocket maximum. The copay covers the end-to-end service, essentially a bundled payment, everything from admission to discharge for a hospital or facility visit, or all services in a specialty visit such as labs or EKG.
Key components of SimplePay Health are: no deductibles/no co-insurance; details on exact cost for all covered services; and zero percent due out-of-pocket at time of provider visit or prescription pick-up. Under the plan, instead of bills and Explanation of Benefits, members just receive one monthly statement that summarizes all of their medical and pharmacy claims for the prior 30 days.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
