Aetna Medicare Supplement Plans

About Aetna

Aetna, which began as a life insurance company based in Hartford, Connecticut in 1850, has a 170-year history of providing insurance support and addressing Americans’ health care disparities. Aetna, now a subsidiary company of CVS Health Corporation, services an estimated 39 million people in the United States and worldwide. They provide insurance plans that may include medical, dental, pharmacy, Medicare, Medicaid, and behavioral health services. Their network has millions of health care professionals, from primary care doctors to hospitals.

The Pros and Cons of Aetna

Overview of Aetna’s Medigap Plans

Aetna offers only seven plans compared to Blue Cross Blue Shield, which offers all 10 plans. But they offer more than Cigna, which only offers four. Below is an overview of the seven different Medigap plans that Aetna offers and the benefits that they include.

* Plans only available to those who first became eligible for Medicare before 2020
** Copays apply

Which Aetna Medigap Plan Is Right for Me?

Choosing the right Aetna plan doesn’t have to be complicated. We’ve outlined our recommendations for the company’s various Medigap plans so you can find the one that’s right for your lifestyle, health condition, and budget. Availability is based on your location, and not all plans are offered in every state.

Those who need basic, comprehensive coverage

In general, Aetna’s Medigap Plan A and Plan B provide comprehensive coverage for many beneficiaries’ needs, including hospital coverage, hospice care, home health care, and assistance with copayments for routine appointments. However, services like skilled nursing facility care or foreign travel emergencies are included in some of the more comprehensive Medigap plans.

Seniors who travel frequently or are in need of highly skilled care

If you need more skilled care and currently live in or plan to move to a skilled nursing facility, plans D, G, N, C, and F will limit those additional costs. These plans also provide international emergency coverage, making them reliable options for seniors and other beneficiaries who travel frequently.

Seniors on a tight budget who don’t have frequent doctor’s appointments

For seniors and other beneficiaries who don’t need to visit the doctor as often, Plan N is one of the least expensive options; however, you’ll be charged a $20 copay for every office visit and a $50 copay for emergency room visits. You should also know that Plan N copayments don’t count toward the annual Part B deductible.

Seniors with chronic health conditions or frequent appointments

Plans F and G have high deductible options, so this may not be an option for those who don’t utilize services as often to meet the deductible and receive these plans’ benefits. This may be a good option for seniors and other Medicare beneficiaries who are managing their chronic illnesses and have frequent follow-up appointments with providers and specialists, or those who may be undergoing surgery or other procedures that will meet their deductible.

How Much Do Aetna’s Medigap Plans Cost?

While Colonial Penn offers all 10 plans, their rates are typically higher than Aetna’s rates. The standard prices outlined below are for a 65-year-old male living in New Jersey. The prices vary by the state, age, and sex of the policyholder, but we wanted to give you an approximate range of premium prices you may encounter.

Why Seniors Need a Medigap Plan

Some 12.5 million people in traditional Medicare had a Medigap policy in 2022. While most seniors in America have health insurance through Medicare, certain aspects of Medicare coverage can lead to high out-of-pocket expenses. For example, Medicare doesn’t have an annual or lifetime out-of-pocket maximum, so older adults can potentially pay higher out-of-pocket expenses as the cost of health care continues to increase.

You can get unbiased help by contacting the State Health Insurance Assistance Program (SHIP) for objective insurance counseling and assistance. To contact your local SHIP, use the SHIP Locator or call 1-877-839-2675.

Medigap plans, such as the supplemental coverage that Aetna offers, can help cover the costs not covered by Original Medicare A and B and limit yearly out-of-pocket expenses. Plus, they offer more extensive benefits to meet the needs of seniors and other beneficiaries. Aetna’s Medigap provides coverage for coinsurance, copays, or both for Medicare Part A and Part B services. Some of their plans offer coinsurance for skilled nursing facilities, hospice services, and insurance coverage while traveling.  Around 77 percent of seniors surveyed said the most valuable benefit of their Medicare Supplement coverage was hospital expenses not covered by Original Medicare.

How Do I Buy an Aetna Medigap Policy?

The best time to purchase a Medigap policy is when you are first eligible. During this time, you’ll have access to all of the insurance company’s plans, as well as access to the best prices and variety of policies. Like Cigna, Aetna offers a 7 percent household discount.

There is a six-month Medigap open enrollment period that starts on the first day of the month during which you are 65 or older and enrolled in Medicare Part B. You can still purchase a Medigap policy even after your Medigap enrollment period; however, the insurance company will use medical underwriting, which may limit the policies you can purchase.

Aetna charges a one-time policy fee for new enrollees in most states, typically $20. The policy fee for your state can be found under the rate tables in the “Outline of Coverage” documents for each state on the website.

Here is a step-by-step guide to purchasing an Aetna Medigap policy:

1. Start by visiting the Aetna website. Decide on the benefits you want and need to find an acceptable Aetna Medigap policy.
2. Research which Aetna plans are available in your state using the “View available plans” tool on their website’s home page. Also, research other insurance companies that sell Medigap policies where you live. That way you can compare the competitors alongside Aetna to see if the company is the right fit.
   

   Searching by state on Aetna's home page

3. You can compare the options available to you on the Aetna website by clicking “Get a no-obligation quote” on the page that appears after you enter your state. You’ll be asked to input some information like your birthdate, gender, and ZIP code. A list of Aetna’s policies will appear with monthly rates and plan benefits. Remember, monthly rates will vary by location and from person to person.
   

   Comparing Aetna Medigap plans and prices

4. We also recommend calling and comparing the costs of Medigap policies from different insurance companies. Below this list, we’ve included a helpful worksheet from Aetna’s website2 that provides important questions to ask during your search.
5. After comparing the policies and prices, choose your policy and company, submit an application, and purchase the policy. The insurance company will inform you of acceptable payment options. The most common are checks, money orders, or bank withdrawal.

Aetna vs. the Competition

Aetna is among the top three health insurance leaders in the U.S. But there are others that offer medigap plans, and it’s important to shop around. Here’s a look at the competition:

Aetna vs. Mutual of Omaha

Aetna offers a household discount of 7 percent but Mutual of Omaha offers a household discount of up to 12 percent. Mutual of Omaha serves every state except Massachusetts and Washington, D.C., and customers get fast quotes with an easy online process. Read our Mutual of Omaha Medigap review to learn more.

Aetna vs. Anthem

Similar to Aetna, customers have the option to add dental and vision to their plans. But the company services only 14 states. They have competitive pricing but only offer a 5 percent household discount.

Aetna vs. Humana

While Aetna only offers seven Medigap plans, there are as many as 10 Humana Medigap plans to choose from, depending on your age and location. They also offer Part D, dental, and vision plans. Some Humana plans are available in all 50 states, and they offer a 6 percent discount for enrolling online. Plus, Humana has an easy online enrollment process. Head to our Humana Medigap review for more information.

Final Thoughts on Aetna

With over 170 years in the industry and 39 million customers, Aetna is a name you can trust in the insurance industry. The company offers seven Medigap plans, which is more than other providers we’ve reviewed like Anthem, whose plan offerings are more limited in some areas. We also appreciate their simple online enrollment process (you can’t get a quote online with Colonial Penn) and large provider network.