Most Medicare beneficiaries love Aetna Medicare Supplement plans because they allow access to great doctors while lowering patient costs. These policies have helped seniors pay for healthcare for many decades. This guide to Aetna Medicare Supplemental Insurance will make it easier to decide if options such as Aetna Plan G, Aetna Plan F, or Aetna Plan N are the right fit for you.
A Short History of Aetna Medicare Supplement Plans
Aetna first opened its doors as a life insurance company in 1850. In 1963, an agent in Houston sold life insurance to the first astronauts and convinced his company to accept the policies before the men ventured into space. Fortunately, that deal worked out well for both the astronauts and the insurer’s brand.
You may have first become familiar with Aetna because of the life insurance or Medicare Supplement plan products they offer for individuals, groups, and families. This company actively markets both individual and group health insurance. You may also have concerns because you heard that Aetna has pulled some medical insurance from the health insurance marketplace.
This a quick summary of Aetna’s current position in the medical insurance industry:
● A.M. Best financial score: A (Excellent)
● Number of health insurance members: Over 23 million
● Number of Medicare Part D prescription policy members: 15.2 million
Besides offering Medicare Supplement plans, Aetna has also focused on improving health and wellness in the communities that they serve. They promote many charitable events that help raise money for good causes, and they always encourage their employees to volunteer. For example, Aetna has sponsored Race for the Cure, the American Heart Association, and the Marine Corps Marathon.
Aetna has a reputation for excellent customer service, stable rates, and finding the right products for their customers. Since this company has been in the insurance business for well over a century, it’s fairly safe to predict that they will be around for many years in the future.
Unlike other kinds of medical insurance, Aetna Medicare Supplement plans have remained very stable over time. With an Aetna Supplement, you won’t have to worry about changes every year.
Why Consider Aetna Medicare Supplement Plans?
Aetna paid their very first Medicare insurance claim in 1966, only a few years after Medicare opened its doors. If you are thinking about purchasing an Aetna Medicare Supplement plan, you can feel confident that you’ll do business with an experienced company.
Many companies have moved in and out of the top-seller ranks for Medigap plans, but Aetna has managed to keep a strong position by offering customers stability. The company also designs policies that are tailored to the market. They keep both their customers’ budgets and their healthcare needs in mind.
Aetna Medicare Supplement Plan Review
There are many reasons to consider Medicare Supplements over Medicare Advantage Insurance (MA). Consider these questions while you compare plans:
- Is Your Doctor Outside of Your Potential Insurer’s PPO Network? Almost all MA plan protection relies upon HMO or PPO networks, but many top treatment centers for critical diseases do not participate in provider networks. With a Supplement, you can use your policy with any doctor or clinic that accepts Medicare without being limited by PPO and HMO networks.
- Are You Planning to Travel? If you plan to spend some of your retirement traveling, you will receive healthcare anywhere in the country with a Medicare Supplement plan. Some options even cover foreign healthcare expenses. If you have an Advantage plan, however, you will have network restrictions that won’t offer you the same kind of access.
- Do You Often See Medical Specialists? You won’t have to visit a primary care doctor just to get referrals to specialists, and you can go right to the specialist you need without unwanted price increases.
In general, beneficiaries have been very satisfied with Supplement insurance. In surveys, over 90 percent of people who owned Medicare Supplements said they were satisfied by a combination of Original Medicare and their Supplement protection.
Compare the Most Popular Aetna Medicare Supplement Plans
Medicare Supplement plans by all insurers are standardized by the government. Most states rely on federal standards, though a few states have created their own standards. Once you decide which plan offers you the best protection for your needs, you are free to compare prices and insurance companies.
This is a brief overview of the popular Aetna Medicare Supplement plans that we often suggest to clients: Aetna Plans F, G, and N.
Aetna Medicare Supplement Plan F Benefits:
- Nationally, people choose Aetna Plan F more than any of the other Supplements. Since this Supplement offers the widest range of protection against healthcare expenses, it’s also the most expensive. Aetna Plan F appeals to people who would prefer to just pay their premium and not worry about deductibles, copays, coinsurance, and access to doctors.
You can save on out-of-pocket costs with Aetna Plan F in these ways:
- Medicare Part A hospital coinsurance
- Hospital costs up to 365 days after benefits through Original Medicare are exhausted
- Part A hospice care copays or coinsurance
- Part A deductible
- Medicare Part B deductible
- Part B preventive office visit coinsurance
- Part B coinsurance or copays
- Excess charges for Medicare Part B
- First three pints of blood needed for a medical procedure
- Coinsurance for care in a skilled nursing facility
- Limited foreign travel emergency care
Aetna Medicare Supplement Plan G Benefits:
- Aetna Plan G is a great bargain for many people. It’s only different from Plan F because it won’t pay the Part B deductible. In 2020, this deductible is only $198, so if it’s possible to save that much on payments during the year, Aetna Plan G can be a good deal. This is probably why Aetna Plan G has become an increasingly popular choice over the years.
Aetna Medicare Supplement Plan N Benefits:
- Aetna Plan N requires members to pay a $20 copay for some visits to the doctor and $50 copay for the emergency room. It also leaves out protection against excess charges. Aetna Plan N is usually considerably cheaper than Plan G or F, so it might be the best choice for a relatively healthy person who doesn’t mind paying for some modest expenses out of their pocket.
Best Aetna Medicare Supplement plans
If you plan to travel and would prefer to pay for your insurance and not worry about most healthcare costs, you might be happiest with Aetna Plan F. On the other hand, it’s very likely that Aetna Plan G can provide you with almost the same advantages for a lower price. If you do get sick, the plan will still cover most of the costs.
It’s difficult to predict the future:
- The government could increase the Part B deductible.
- You could need more healthcare in the future because of an illness or accident.
- Doctors may charge more than Medicare says they should in the coming years.
In short, retirees may select Aetna Plan F because they want to make sure they can manage their healthcare costs in the future.
Enrolling in Aetna Medicare Supplement Plans
Unlike with Medicare Advantage, you will not have to wait for an enrollment period, but there are times when you can enroll in Medigap plans without having to answer any health questions. For instance, you are offered a Guaranteed Enrollment Period when you first turn 65 and become qualified for Medicare Part A and B.
If you can prove certain other circumstances, you may also get to enroll without having to fill out a health application:
- You lose insurance from a union, employer, or the government.
- You move away from the company’s service area.
- You lose insurance because your insurance company decided to move away from your local area or failed financially.
If you don’t have a Guaranteed Enrollment Period, you may still qualify for an Aetna Medigap plan. You can find out by answering a few questions on an application. Additionally, you shouldn’t assume that these Medicare Supplement insurance companies won’t take you because of certain controlled medical issues.
Sample Rates & Cost for Aetna Medicare Supplement Plans
Naturally, the price you have to pay each month for your Medigap could impact your choices. Typically, retired people need to manage their budgets carefully. To help you understand how much Supplements might cost, you can view some sample monthly rates for different Aetna Supplements.
These are for a man who lives in selected areas, is just turning 65, and doesn’t smoke:
- Aetna Plan F: $153-$200
- Aetna Plan G: $100-$196
Note: Your age, exact ZIP code, and in some cases, your medical condition could increase or decrease the price. You should also know that we only provide these sample prices as a courtesy and aren’t endorsed or supported by Aetna.
Here are some tips that might help you choose the right Aetna Medicare Supplement plan for your healthcare needs and budget:
- Again, if you’d prefer a set-it-and-forget-it Medigap plan, Plan F is likely to satisfy you. It covers all expenses and even pays for a few things that Medicare doesn’t. This includes foreign travel and excess charges (the amount of money that medical providers might charge over the amount that Medicare says that they should).
- It’s possible that you’d save money every year if you choose Plan G because the Plan B deductible might not be as high as the extra amount you’d pay each year. In these examples, the difference between Plan F and G is $40 or $50 a month, and this year’s Part B deductible is only $182. If things stay the same, you could make up the difference in about three or four months.
Why We Recommend Aetna Medicare Supplement Plans to Many Clients
Aetna has established itself for many decades as a top performer in the Medicare Supplement market. They have won clients over with a reputation for stable and competitive rates and consumer-friendly products. This company combines efficient technology with good customer service.
Aetna Medicare Supplement plans are available in numerous states, including Iowa, Florida, Illinois, Ohio, and Texas. If you live in an area where this insurer offers services, then Aetna Plan N, F, or G may be a good option for you.
Quotes for Aetna Medicare Supplement Plans
To get started, just enter your state in the drop-down menu right here on our website. You can also give us a call to speak with one of our qualified agents.
In the end, you might choose Aetna or another insurer. We aren’t here to sell you on one company or one insurance choice. Our mission is to give you the answers that you need to make the right decision about Medicare Supplement plans.
Please note: We are not Aetna, and this is our general opinion of Aetna Medicare Supplement plans. Refer to your complete policy for full coverage details.