What are the Best Aetna Medicare Supplemental Plans?
Aetna Inc. (NYSE:AET) is a major health insurance company that offers Medigap coverage (also known as Medicare Supplemental plans). And rest assured, Aetna has been in the market for a very long time. In 1853, Aetna Insurance was incorporated as Aetna Life Insurance Company. Aetna is based out of Hartford Connecticut, and since November 28, 2018, the company has been a subsidiary of CVS Health. Aetna’s main competitors in the Medicare supplemental insurance market are: Mutual of Omaha, Cigna, and United Healthcare, which also offers AARP sponsored insurance.
Aetna Medigap Offerings by Plan Type
Which Aetna Medicare Supplement Plans are right for you? This will depend on a number of factors. First, Aetna does not offer every Medicare supplemental insurance plan (also known as Medigap) that Medicare has standardized.
If you have a specific interest in any other Medicare Supplemental Insurance that Aetna offers, Aetna Medigap Insurance may be the best for you. We can help you decide the best Aetna Medicare Supplement plans for you. Call us today!
Aetna Medigap Offerings by State
Another factor which will help you determine which are the best Aetna Medicare Supplement Plans for you is the state you live in. The best Aetna Medicare Supplement Plans are going to be the ones that are in your state. Below are the states where Aetna offers Medicare supplemental insurance in 2019.
What Benefits are Offered by Aetna Medicare Supplemental Plans?
Medicare.gov has a great chart that shows the kinds of benefits available across Medigap plans. Below we present the benefits for Medicare supplemental plans that Aetna offers. Remember, in 2019 Aetna does not offer Plan D or Plan M. Note that “Yes” denoted in the chart means that the plan covers 100% of the benefit listed. “No” means that the plan does not cover that benefit.
How Does Aetna Medicare Supplemental Insurance Compare?
Aetna is one of several health insurance companies that offer Medicare supplemental plans. IMPORTANTLY, every company offers identical benefits within each plan letter but the cost of each plan can be different. For example, Plan G from Mutual of Omaha, is identical to Plan G from Aetna, Cigna, or United Healthcare. However, while the benefits of these plans are the same across health insurance company, the premiums can be different and that’s where we can help! You can find quotes online using our FREE quote engine, or better yet, call us! 888-891-0229. We can walk you through the details.
So, What Plans are Most Popular?
Medicare Supplement Plan G is our most popular plan. In Plan G, you pay the Annual Part B deductible each year. In 2019 this deductible is $185. Once that is met, Plan G pays 100% of the costs in Medicare Part A and B. Does this include coinsurance on all Medicare approved expenses? Yes! Plan G covers the 20% coinsurance on all Medicare approved expenses. Again, remember that it’s important to recognize that while the benefits of Medigap plans are the same across plan, the costs among those plans can vary greatly. In other words, standardized Medigap policies that insurance companies offer must provide the same benefits. You may have also heard about Plan F. Plan F technically covers more than any other Medigap Plan, but it comes at a cost as the premiums are going to be higher. Also, Plan F is being discontinued on January 1st 2020. Those who have it may keep the plan, however those eligible for Medicare A and B on January 1, 2020 and beyond will not be able to enroll in a Plan F.
Which Seniors have a Medigap plan?
The American Health Insurance Plans analyzed demographics of seniors who have Medigap plans. 34% of seniors in 2016 who had original Medicare (Part A & B, not Medicare Advantage) had a Medigap plan. Interestingly, 61% of seniors in 2015 who had Medigap insurance were women, but this can vary by state. Who is buying Medigap plans? Younger beneficiaries! 48% of seniors 65-74 years of age have a Medigap plan, compared to 25% for 75-84% and 10% of 85 years and older. Also, the share of seniors with a Medigap plan in 2015 varied widely by state: from 3% in Hawaii to 51% in Kansas. This means not every senior is aware of the benefits of Medigap insurance. You can find quotes online using our FREE quote engine, or better yet, call us! 1-888-891-0229. We can walk you through the details!
What’s the Take Home Message?
The bottom line is, plan benefits are standardized within each letter, but premiums are NOT. Every Medigap policy must follow federal and state laws designed to protect you, and the plan must be clearly identified as “Medicare Supplement Insurance.” Insurance companies can sell you only a “standardized” policy identified in most states by letters. You have a lot of choices, and we can help you determine the best Aetna Medicare Supplemental Insurance plan offers you the unique balance of benefits and cost. Call us today! 1-888-891-0229.