Aetna Medicare Supplement Insurance Review [Best Plans & Pricing]

Last Updated: November 2019

Disclaimer: We are NOT Aetna, this is our review of Aetna medicare supplement insurance plans after conducting over 18 hours of research.

You probably don’t associate volcanoes and health insurance companies, but Aetna, which is one of the longest lived premier insurers in America (if not the world) is named after a volcano – Mt. Etna in Italy.

Aetna is a managed health care company headquartered in Hartford, CT. It is a subsidiary of CVS Health, having been acquired in 2018. Aetna was founded as Aetna (Fire) Insurance Company in 1853.

Aetna has a financial strength rating of “A-” from S&P and “A” from A. M. Best. Aetna issues Medicare Supplement Insurance through various subsidiaries, depending on the State, including:

• Continental Life of Brentwood, Tennessee
• American Continental
• Aetna Health and Life

In this Aetna Medicare Supplement Review, we’ll cover (click the link to be taken straight to the section):

• Aetna Medicare Supplement Plans
• Benefits Provided By Aetna Medicare Supplement Insurance
• How Much Do Aetna Supplement Insurance Plans Cost?
• Which Medicare Supplement Plans Does Aetna Offer?
• Can I Switch From One Aetna Supplement Plan To Another?
• How To Enroll In An Aetna Medicare Supplement Insurance Plan

Aetna Medicare Supplement Insurance Plan

Medicare Supplement Insurance policies are issued by private insurance companies to Medicare Beneficiaries. These policies are designed to fill in the gaps of Original Medicare. For this reason, they are frequently called Medigap Plans.

These policies are available in every State, although Minnesota, Wisconsin, and Massachusetts have slightly different rules and regulations than the other 47 States. Medigap policies are regulated at the State level, as well as at the Federal level by CMS.

In order to obtain coverage from a Medicare Supplement Insurance policy, you must meet several criteria, including:

• You must be enrolled in Original Medicare (Parts A and B), and you must continue to pay your Part B Premium.
• You must not be simultaneously enrolled in a Medicare Advantage Plan
• You may be required to be age 65 or older (some States)

Benefits Provided By Aetna Medicare Supplement Insurance Plans

Medicare Supplement Insurance policies issued by Aetna or it’s subsidiaries come with the following benefits (may vary by state):

• 30 day free look period
• Competitive premiums
• Helpful and streamlined online portal
• Industry-leading customer service, support, and claims processing
• Stable (relatively small) rate increases

How Much Do Aetna Supplement Insurance Plans Cost?

Each Medigap carrier sets their own premiums (subject to regulatory approval). Aetna’s (and Aetna-owned companies) premiums may be based on these or other criteria:

• Age at issue
• Age at renewal
• Tobacco usage
• Plan type
• Amount of claims paid in the last year versus estimates

Medicare Supplement Insurance companies are allowed to adjust their premiums, and typically do. You will be notified if or when the rate is increasing. Typically, rates are lower the younger you are.

Which Medicare Supplement Plans Does Aetna Offer?

Medicare Supplement Plans come in eleven standardized “Plans” and are known by letters: A-D, F, G, K, L, M, and N. The Plans differ in the amount of coverage provided; in other words, how much of the Original Medicare gaps are filled in.

Aetna and its affiliates offer all the standardized Medicare Supplement Plans,although they don’t offer them all in every State.

Plans F, G, and N are reviewed in detail below as they are the most popular selections.

Aetna Medicare Supplement Plan F

This is the most comprehensive Plan, with these benefits:

• Pays the entire Original Medicare Part A and B deductible for you
• Provides 365 extra hospitalization days beyond Original Medicare
• Covers the first 3 pints of blood needed
• Hospice co-payment or co-insurance under Part A
• Covers 100% of any “excess charges” from Part B services
• Covers 100% of Medicare Part B co-insurance
• Will cover Nursing home costs
• Provides emergency coverage while travelling internationally, up to Plan limits

If you enroll in Plan F, it is likely that you will not pay any fees for medical services of any kind, as long as they are Medicare-approved services and procedures. Because of this, Plan F is great if you want to know with certainty that your Medical spending will be minimal.

Aetna Medicare Supplement Plan G

Plan G is almost identical to Plan F. The only difference is under Plan G the Beneficiary must pay the Part B deductible (currently $185 per year) before the Plan will cover Part B services.

The monthly premium for Plan G is lower than that for Plan F, and usually by more than the Part B deductible, so this is often a better value than Plan F, while still providing comprehensive coverage.

Aetna Medicare Supplement Plan N

Plan N is also quite comprehensive, but unlike Plans F and G, Plan N offers an even lower monthly premium is you’re willing to pay small co-pays:

• No more than $20 co-pay for office visits
• No more than $50 co-pay for emergency visits
• Plan N doesn’t cover “excess” charges under Plan B. You can find out from your medical service provider whether you would be subject to excess charges (which can’t exceed 15% of the Medicare approved price).

Plan N is an excellent compromise between affordable premium and comprehensive coverage.

Aetna’s Medicare Supplement Insurance Plans are required to be Guaranteed Renewal. This means that they cannot be canceled by Aetna unless you fail to make your required premium payments.

Update On Aetna Medicare Supplement Plans C, F, and G

You may have heard about changes for Plans C, and F. These changes will only affect Beneficiaries who are eligible for Medicare after January 1, 2020. Plans C, F, and High Deductible F will not be available for those eligible after January 1, 2020.

If you are already eligible for Medicare, or if you become eligible before January 1, 2020, you will be able to enroll in these Plans, or keep them if you are already enrolled in them. Even if you’re not already enrolled in these Plans, your right to enroll in them is preserved.

With Plan F and High Deductible F being eliminated in 2020, a new option is being made available: High Deductible G. This Plan will function just like regular Plan G, but you must meet the annual deductible of $2,180 before the Plan will pay Part B benefits.

In exchange for paying the higher the deductible, the Plan comes with lower monthly premiums.

Can I Switch From One Aetna Supplement Insurance Plan To Another?

One of the drawbacks to Medigap Plans is that switching from one Plan to another, or one carrier to another can be difficult. Every Medicare Beneficiary has the right to enroll in a Medicare Supplement Insurance plan when they first become eligible for Medicare.

This is known as the Medicare Supplement Open Enrollment Period. This is a six month window which begins the later of the date you turn age 65 or enroll in Part B.

If you want to change Plans or carriers after Open Enrollment, you are allowed to, but you will generally be subject to medical underwriting. Your application can even be denied.

However, there are other times when a Medigap company must issue you a policy without underwriting. These times fall under what are called Guaranteed Issue provisions. You may have a Guaranteed Issue right in these circumstances:

• You are on Medicare Advantage, and you move out of the Plan’s service area
• You have been on Medicare Advantage for less than 12 months, and it is your first time on Medicare Advantage (this is known as a Trial Right)
• You dropped your Medicare Supplement Plan to enroll in Medicare Advantage for the first time, and you want to switch back. If you have been on the Medicare Advantage Plan less than 12 months you have a Trial Right

There are other times when you might have a guaranteed issue right. Speak with an independent licensed agent to learn more about changing to Medicare Supplement Insurance after your original Open Enrollment Period.

How To Enroll In An Aetna Medicare Supplement Insurance Plan

Once you know that an Aetna Medigap Plan is right for you, enrollment is simple. You will need your red, white, and blue Original Medicare Card to enroll. Using an independent insurance agent, you can enroll online, over the phone, or face to face.