Aetna Medicare Supplement Plans
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!
The Pros and Cons of Aetna
Pros About Aetna
- Large provider network
- Available in most states
- Insurance coverage when you travel
- Up to seven Medigap plans to choose from
- 7 percent household discount
Cons About Aetna
- Plans and prices vary from state to state
- Aetna doesn’t offer Medigap plans in Alaska, Connecticut, Hawaii, Maine, Massachusetts, New York, Washington state, and Washington D.C.
Overview of Aetna’s Medigap Plans
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
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 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.
Those who need basic, comprehensive coverage
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.
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 who travel frequently.
Seniors on a tight budget who don’t have frequent doctor’s appointments
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.
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 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?
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|
Why Seniors Need a Medigap Plan
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.
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.
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. 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:
- Decide on the benefits you want and need to find an acceptable Aetna Medigap policy.
- 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.
- 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.
- 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.
- 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.
Final Thoughts on Aetna
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 2023.
Frequently Asked Questions about Aetna Medicare Supplement
What is the eligibility for an Aetna Medigap Plan?
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.
What happens to my policy if I move states?
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.
Do Medigap policies work with Medicare Advantage plans?
No, Medigap plans do not work with Medicare Advantage plans. Medigap policies do not pay deductibles, copayments, coinsurance, or premiums under Medicare Advantage.
Can I lose my Medigap coverage?
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.