Aetna, part of CVS Health, has launched an innovative health plan named SimplePay Health. This plan simplifies how members pay for their healthcare services by setting a fixed copay amount for each covered medical and pharmacy service, up to the total out-of-pocket maximum. This copay encompasses all related services, offering a bundled payment approach that includes everything from hospital admission to discharge, or all associated services in a specialized visit such as laboratory tests or electrocardiograms (EKGs).
Key features of the SimplePay Health plan include the absence of deductibles and co-insurance, transparency with clear pricing details for all covered services, and no out-of-pocket payments required at the time of provider visits or when collecting prescriptions. Instead of receiving multiple bills and Explanation of Benefits documents, members are provided with a singular monthly statement that summarizes all their medical and pharmacy claims from the previous month.
