Aetna Medicare Supplement Plans Review
Providing health care coverage to more than 22 million people,1 Aetna is the third-largest health insurer in the United States. The company sells private medical, pharmacy, Medicare, Medicaid, and other insurance plans. Its Medicare products include Medicare Advantage (Part C), Medicare Supplement (Medigap), and Part D prescription drug plans.
In 2019, Aetna counted 842,000 members on its Medicare Supplement (Medigap) plans nationwide—a number that grew by 51,000 from the year before.2
If you're looking for information about Aetna’s Medicare Supplement plans, you've come to the right place. We've reviewed the company and its plan offerings to give you an idea of what to expect in terms of the types of plans offered, benefits and coverage available, eligibility, and enrollment.
Aetna Medicare Supplement pros and cons
A detailed look
- Strong financial rating: Rating companies give Aetna high marks for financial stability. Standard & Poor’s gave Aetna a financial strength rating of A-3.
- Additional features and benefits: Being an Aetna member comes with several perks like access to a nurse phone line—available 24/7—that can help you answer health care questions.
- Doesn’t serve all states: Aetna sells Medigap plans in 44 states. If you live in Alaska, Connecticut, Hawaii, Maine, Massachusetts, Washington, or Washington, DC, you’ll need to pick another company.4
- Limited Medigap options: Depending on where you live, Aetna lets you choose from five six different Medigap plans (there are 10 total), which means several options are often left out, including one of the most popular: Plan C.5
Aetna Medicare Supplement: plan overview
Medicare Supplement plans help you pay for costs not covered by Original Medicare, including deductibles, copayments, and coinsurance. Because the benefits for Medigap plans are standardized by state and federal law, you won't see benefits differ between companies for the same plan. What does vary, however, is which plans are available in specific areas and how much they cost.
In most states, Aetna sells Medigap plans A, B, F, G, and N. In some areas, Aetna also offers the high-deductible version of Plan F.6 Note that the Centers for Medicare & Medicaid Services (CMS) are phasing out Plan F for newly eligible Medicare recipients starting in 2020, although some beneficiaries can still enroll in one of these plans. Find out if you can still apply for Medicare Supplement Plan F.
Certain benefits are common to all these plans, such as the following services:
- Part A hospital: Helps to pay for the daily coinsurance of inpatient hospital stays
- Part B medical: Helps to pay the Part B coinsurance or copayment
- Blood transfusion: Pays for the first three pints of blood per year
Plan B has the same benefits as Plan A plus coverage for the yearly Part A deductible ($1,408 in 2020).7
One of the most popular Medicare Supplement plans, according to the Kaiser Family Foundation (KFF), is Plan F.8 It provides comprehensive coverage that helps pay for both the Part A and Part B deductibles and Part B excess charges. It also covers 100% of the coinsurance for skilled nursing care and 80% of emergency care while traveling overseas.
Plan F also comes in a high-deductible version, which Aetna sells in certain areas. This plan requires you to pay a $2,340 yearly deductible before the benefits kick in (up from $2,300 in 2019).9 Because your share of the costs are higher, high deductible Plan F may have lower premiums than other Medicare Supplement plans.
The coverage for Plan G is similar to Plan F, but it doesn’t include the Part B deductible of $198 in 2020 (up from $185 in 2019).10
Under Part B coverage, the Medicare program establishes maximum rates for what it will pay for certain services. Some providers charge more than the maximum, leaving beneficiaries to pay these Part B excess charges. While some Medigap plans cover these charges, Plan N does not.
Aetna Medicare Supplement plan costs
Because your benefits for Medicare Supplement plans don't change from company to company, the main difference between Aetna and other companies is the premiums it charges. Plan costs vary depending on where you live, so contact a licensed sales agent for the latest Medicare Supplement pricing.
Aetna Medicare Supplement eligibility and enrollment
You can purchase an Aetna Medigap plan as long as you're age 65 or older. You may also be able to buy a plan if you qualify for Medicare because you have a disability or end-stage renal disease (ESRD). You also must meet these criteria:
- You have Original Medicare Part A and Part B
- You live in the state where Aetna offers the plan you want
Aetna financial ratings
Aetna’s reviews from financial ratings companies are strong. Overall, the company gets reasonably high marks for its finances and stability, but they aren’t the highest possible scores. Here are the long-term senior debt ratings from four financial ratings organizations:
|Standard & Poors||A-(strong)11|
Moody's Investors Service
Baa2 (moderate credit risk)12
A.M. Best Company
Table created using information available at AMBest.com, StandardAndPoors.com, Moodys.com, and FitchRatings.com. Data effective 12/6/2019.
Ready to enroll in Medicare Supplement?
Not sure which type of Medicare coverage is right for you? We can help.
We suggest that you compare plans from several companies before deciding. A licensed sales agent can help you with this.
1. Becker’s Hospital Review, “America’s Largest Health Insurers in 2018”
2. Aetna, “Form 10-Q”
3. Standard and Poors, “Aetna Inc.”
4. Aetna, “Find Medicare Supplement Insurance Plans”
5. Kaiser Family Foundation, “Medigap Enrollment Among New Medicare Beneficiaries: How Many 65-Year Olds Enroll In Plans With First-Dollar Coverage?”
6. Aetna, “Find Medicare Supplement Insurance Plans”
7. Medicare, “Medicare Costs at a Glance”
8. Kaiser Family Foundation, “Medigap Enrollment and Consumer Protections Vary Across States”
9. Medicare, “How to Compare Medigap Policies”
10. Medicare, “Medicare Costs at a Glance”
11. Standard and Poors, “Aetna Inc.”
12. Moody’s, “Aetna Inc.”
13. Fitch, “Aetna, Inc.”
14. A.M. Best, “Aetna Inc.”
Content on this site has not been reviewed or endorsed by the Centers for Medicare & Medicaid Services, the United States Government, any state Medicare agency, or any private insurance agency (collectively "Medicare System Providers"). Eligibility.com is a DBA of Clear Link Technologies, LLC and is not affiliated with any Medicare System Providers.