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One of the many perks, as we age, is that the U.S government provides supported health insurance for those over 65 (and others who have eligible disabilities) in the form of Medicare. But let's face it, with the rising costs of health care and medications, Medicare isn't always enough to make medical services affordable. If you're on the hunt for a Medigap plan to (you guessed it) bridge the gap between your medical expenses and Medicare coverage, Aetna might be the right fit for your needs.
Aetna is an established health insurance company with a long history of providing coverage and support to millions of seniors across the country. Their Medigap plans offer a variety of benefits and options to make sure that older adults have the quality care they need and deserve. Aetna prides itself on providing “freedom and flexibility” to seniors with a network of millions of health care professionals. We're all about having options, so we believe Aetna is worth considering if you're looking for a Medigap plan!
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 healthcare professionals, from primary care doctors to hospitals. Talk about comprehensive coverage!
Below is an overview of the seven different Medigap plans that Aetna offers and the benefits that they include.
|Medicare Part A coinsurance and hospital coverage; up to 365 days of coverage after Medicare benefits are used up||Yes||Yes||Yes||Yes||Yes||Yes||Yes|
|Medicare Part B coinsurance or copayment||Yes||Yes||Yes||Yes||Yes**||Yes||Yes|
|Part A hospice care coinsurance or copayment||Yes||Yes||Yes||Yes||Yes||Yes||Yes|
|Skilled nursing facility coinsurance||No||No||Yes||Yes||Yes||Yes||Yes|
|Medicare Part A deductible||No||Yes||Yes||Yes||Yes||Yes||Yes|
|Medicare Part B deductible||No||No||No||No||No||Yes||Yes|
|Medicare Part B excess charges||No||No||No||Yes||No||No||Yes|
|Blood (first three pints only)||Yes||Yes||Yes||Yes||Yes||Yes||Yes|
|Foreign travel emergency (plan limits apply)||No||No||Yes||Yes||Yes||Yes||Yes|
* Plans only available to those who first became eligible for Medicare before 2020
** Copays apply
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 budget and lifestyle.
Pro Tip: For seniors enrolled in the Medicare Part A deductible plan, Aetna plans B, D, G, N, C, and F will provide the most benefits and coverage, while plans C and F are best for those enrolled in the Medicare Part B deductible plan.
In general, Aetna's Medigap Plan A and Plan B provide comprehensive coverage for many seniors' needs, including hospital coverage, hospice care, home healthcare, and assistance with copayments for routine appointments.
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 who travel frequently.
For seniors 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.
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 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.
The 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.
|A||$141.78 per month|
|B||$160.27 per month|
|C||$228.33 per month|
|D||$169.93 per month|
|F||$213.41 per month|
|F high deductible||$75.97 per month|
|G||$173.85 per month|
|G high deductible||N/A|
|N||$115.37 per month|
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.1 Talk about a dent in your wallet.
Pro Tip: Want to learn more about Medigap and figure out if it's right for you? Visit our comprehensive Medigap guide for all the details.
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. 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.
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. 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.
Here is a step-by-step guide to purchasing an Aetna Medigap policy:
With over 170 years in the industry and nearly 39 million customers, Aetna is a name you can trust in the insurance industry. The company offers seven Medigap plans to choose from, which is more than other providers we've reviewed, like Americo, whose plan offerings are more limited. We also appreciate their simple online enrollment process and large provider network.
To learn more about Aetna, visit our list of the best Medigap plans of 2022.
You are eligible to apply for a Medigap Plan if you are in a state that offers the policy, have Medicare Parts A and B, and are age 65 or older, or are under 65 with a disability or end-stage renal disease.
You can keep your policy even if you move states as long as you still have Original Medicare. However, Medigap policies may vary from state to state, so if you decide to switch to a different Medigap policy, you may need to contact your insurance company to know what is available in your new state.
No, Medigap plans do not work with Medicare Advantage plans. Medigap policies do not pay deductibles, copayments, coinsurance, or premiums under Medicare Advantage.
Generally no, because the Medigap policy is guaranteed to be renewable. Reasons your insurance company can drop you include: unpaid premium payments, invalid/false application information, or the company becomes bankrupt.
National Bureau of Economic Research. (2017). Externalities and Taxation of Supplemental Insurance: A Study of Medicare and Medigap.
Aetna Medicare. (2020). Choosing a Medigap Policy:A Guide to Health Insurance for People with Medicare.