Aetna vs. Cigna: An In-Depth Comparison
You have a lot of options when it comes to choosing a Medicare plan. Although a range of choices can help ensure you find a plan that works for your needs, it can also make choosing a plan challenging. Our comparison of plans from two popular companies, Aetna and Cigna, can help you weigh various benefits. We’ll start with a 30,000 foot view of what both companies have to offer.
*Aetna no longer sells Part D prescription drug plans under its own names. It does, however, sell SilverScript plans. Stay tuned for our review of Silverscript. When we publish that, we’ll add a link here.
Data effective 12/12/2019.
*Subject to vary by state.
Provider network access
Because Original Medicare and Medicare Supplement (or Medigap) plans allow you to see any doctor who accepts Medicare, provider networks don’t apply to those plans.
But with Medicare Advantage, plans often have rules for which doctors and providers you can see. If you go with Aetna, you get access to the company’s approximately 1.2 million health care providers worldwide. But Cigna has an even larger provider network, with 1.5 million health care providers across the globe.
Availability by location
You can purchase a Part D prescription drug plan (PDP) from Cigna no matter which state you live in. Aetna no longer sells its own prescription drug plans.
Aetna sells Medicare Advantage plans in 44 states and DC. Contrast this with Cigna, which sells Medicare Advantage plans in only 15 states and DC.
Nearly every state can get a Cigna or Aetna Medigap plan but, between the two, only Cigna offers Medigap coverage in DC.
Comparing the plans offered
Both Aetna and Cigna offer Medicare Advantage plans and primarily sell HMO or PPO plans. Both companies also offer HMO SNPs (Special Needs Plans) or HMO-POS (Point of Service) plans in select states.
Data effective 12/12/2019.
*Subject to vary by state.
If you are considering purchasing a Medicare Advantage plan, we recommend looking at how Cigna compares to other providers, such as Blue Cross Blue Shield or United Healthcare.
Data effective 12/12/2019.
*Subject to vary by state.
Each Medicare Supplement plan helps pay for a different portion of costs not covered by Original Medicare. The chart below details the coverage of each of these plans, so look it over to find out which benefits each Medigap plan includes. Remember that not all Medicare Supplement plans are available in all areas. You can also visit our Medigap plan comparison guide for more details.
Comparing financial rankings
One way to measure an insurance company’s strength is by looking at its financial ratings. Certain organizations, like Standard & Poor’s (S&P), review these companies’ financial data to make predictions on how stable they are—in essence, how likely it is that they will be able to continue paying claims for the foreseeable future.
Aetna is rated A- by Standard & Poor’s for financial strength, while Cigna is rated at an A. According to S&P, the “A” category means the company has “strong financial security characteristics but is somewhat more likely to be affected by adverse business conditions than are insurers with higher ratings.”25 The minus (-) added to Aetna's grade simply means it's at the lower end of the rating.
To summarize, Cigna is in slightly better financial standing than Aetna according to Standard and Poor’s, but not by very much.
Final thoughts
If you’re looking for a comprehensive Advantage plan, prescription drug coverage, or Medigap plans, both Aetna or Cigna may have plenty of options, depending on where you live.
Are you ready to compare quotes from Cigna and Aetna to see what will work best for you? Call the number below for help.
Sources
1. Aetna, “Aetna Facts”
2. Cigna, “A Global Approach”
3. Centers for Medicare and Medicaid Services, “2020 Medicare Advantage Landscape”
4. Centers for Medicare and Medicaid Services, “2020 Medicare Advantage Landscape”
5. Aetna, “Medicare Supplement Plans in Your State”
6. Cigna, “State Disclosures, Exclusions, Limitations & Reductions”
7. Centers for Medicare and Medicaid Services, “2020 Medicare Prescription Drug Landscape”
8. Centers for Medicare and Medicaid Services, “2020 Medicare Prescription Drug Landscape”
9. Aetna, “Medicare Advantage Plans"
10. Cigna, “Medicare Advantage Plans”
11. Aetna, “Outline of Coverage”
12. Cigna, “Compare Medicare Supplement Plans”
13. Centers for Medicare and Medicaid Services, “2020 Medicare Prescription Drug Landscape”
14. Centers for Medicare and Medicaid Services, “2020 Medicare Prescription Drug Landscape”
15. S&P Global, “S&P Downgrades Aetna, Subsidiaries”
16. S&P Global, “S&P Downgrades Cigna, Subsidiaries”
17. Centers for Medicare and Medicaid Services, “2020 Medicare Advantage Landscape”
18. Cigna, “Cigna Medicare Supplement Insurance”
19. Centers for Medicare and Medicaid Services, “2020 Medicare Prescription Drug Landscape”
20. S&P Global Ratings, “Understanding Ratings”
21. Aetna, “Medicare Advantage Plans"
22. Cigna, “Medicare Advantage Plans”
23. Aetna, "A Reliable Way to Limit Your Out-of-Pocket Costs"
24. Cigna, "Compare Medicare Supplement Insurance Plans"
25. Standard and Poors, "S&P Global Ratings Definitions"
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