Aetna vs. Blue Cross Blue Shield Medicare: Which Is Better?
Aetna and Blue Cross Blue Shield are titans in the insurance industry and offer Medicare plans to millions of beneficiaries nationwide. Our comparison found that Aetna is a better option for Medicare Insurance plans, and Blue Cross is better suited for individual and family health insurance plans.
In addition, Blue Cross Blue Shield has a more extensive network of medical providers than Aetna, which is essential if you want to keep your current doctors.
Editor’s Pick:
- Aetna offers the best Medicare insurance options
- Blue Cross offers the best individual health insurance options
However, finding the best health insurance can be confusing. The quality of health insurance providers, differences in plan benefits, and which health insurance plans are available in your area all require careful examination.
Here we compare some of the key differences between the two:
Aetna Medicare Plan Highlights
- Most Aetna Medicare Advantage health plans include prescription drug coverage.
- Many Aetna plans provide coverage for wellness programs.
- Aetna ranks second in customer satisfaction with telehealth.
- Aetna is the third-largest for-profit provider of Medicare Advantage plans in the United States, increasing its Medicare Advantage enrollment by 323,000 in 2022.
- Ranks lower in customer satisfaction surveys than Blue Cross and Blue Shield
- Offers fewer Medigap plans than Blue Cross
- Medicare Advantage plans: HMO, HMO-POS, POS, EPO, PPO
- Medicare Part D plan
- Medicare Supplement plans (Medigap)
- SNPs (special needs plans)
- Dual-eligible SNPs (D-SNP) if eligible for both Medicare and Medicaid
- Availability: All 50 states
- Waiting Period: Varies by plan/location
- Providers In-Network: 1.2 million
- Covers Telehealth: Yes
- Policy Management: Website, phone, mobile app
Blue Cross Blue Shield Medicare Plan Highlights
- Offers a larger provider network than Aetna
- Consistently ranks high in customer satisfaction
- Sells more Medigap plans than Aetna
- Third largest insurer in the country
- Online customer satisfaction is not uniform across all Blue Cross and Blue Shield companies.
- Medicare Advantage plans are not available in some states
- Medicare Advantage plans, HMO, HMO-POS, POS, EPO, PPO & D-SNP
- Medicare Part D plans
- Medicare Supplement plans (Medigap)
- SNPs (special needs plans)
- Dual-eligible SNPs (D-SNP) if eligible for both Medicare and Medicaid
- Availability: All 50 state
- Waiting Period: Varies by plan/location
- Providers In-Network: 1.7 million
- Covers Telehealth: Yes
- Policy Management: Website, phone, mobile app
Aetna vs. Blue Cross Blue Shield: Medicare Plan Availability
Blue Cross Blue Shield and Aetna offer health insurance plans for various markets, including small businesses and individuals. After CVS Health acquired the company in 2018, Aetna began offering individual and family plans. Both companies also offer Medicare plans.
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Aetna
- Medicare Advantage health insurance plans are found in 49 states and Washington, D.C.
- Prescription drug plans are found in 50 states and Washington, D.C.
- Aetna Medicare Eagle plans, designed for veterans, expanded to 42 states this year.
- Aetna D-SNPs are available in 30 states but might not be available in every county.
- Medicare Supplement insurance plans are available in all states except Alaska, Connecticut, Hawaii, Maine, Massachusetts, New York, and Washington.
- Aetna offers Medicare Supplement Plans A, B, C, D, F, G, and N.
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Blue Cross and Blue Shield
- BCBS sells Medicare Advantage plans in 47 states (Alaska, Mississippi, and Wyoming are the exceptions) and Puerto Rico.
- Prescription drug plans are accessible in 42 states (exceptions are Alaska, Delaware, Hawaii, Louisiana, Maryland, Mississippi, Oregon, and Washington).
- Blue Cross Blue Shield features Medicare Supplement plans in all 50 states.
- BCBS sells nine of the ten standardized Medigap plans available in nearly all states, including Plans A, B, C, D, F, G, K, L, and N.
Aetna vs. Blue Cross Blue Shield: Medicare Plan Costs
The monthly premium for a 65-year-old male through Blue Shield of California is $110 for Medicare Supplement Plan G.
The same plan through Blue Cross Blue Shield in Ohio is $122.
The monthly premium for a 65-year-old male in California with Aetna is $247 for Medicare Supplement Plan G.
The cost of an Aetna or Blue Cross Blue Shield plan varies based on location and the type of plan you buy, even among Blue Cross Blue Shield companies.
Other factors also affect your monthly premium:
- Whether the plan includes drug coverage
- Deductible, coinsurance, and copayment amounts
- Age
- Health habits
Most Aetna, BCBS HMO, PPO plans, and some EPO plans require you to see an in-network doctor or use an in-network healthcare facility. Therefore, except in emergencies, you will have a higher cost share if you use an out-of-network provider. Some of these plans also require you to designate a primary care physician to coordinate your care.
Aetna and BCBS, Medicare Advantage health insurance plans cap out-of-pocket costs for medical services, giving you a certain amount of financial security from spiraling healthcare expenses.
Aetna vs. Blue Cross Blue Shield: Medicare Star Ratings
Medicare Star Ratings measure the quality and performance of prescription drugs or health insurance plans. The Centers for Medicare and Medicaid compile these ratings each year. The highest rating is five stars.
Here’s how Aetna and Blue Cross Blue Shield fared in 2021:
Aetna
• 3.75 on Medicare Advantage plans
• 3.84 on Part D plans
BCBS
• 3.75 on Medicare Advantage plans
• 3.77 on Part D plans
Aetna vs. Blue Cross Blue Shield: Enrollment Process
The best time to enroll in a Medicare Supplement, Advantage, or Part D plan is during your Initial Enrollment Period when you’re first eligible. After that, you can change your plans during the annual Open Enrollment Period. The Open Enrollment Period varies based on the type of plan. In addition, you also have special enrollment periods for life-changing events.
Events that qualify for special enrollment include:
- Moving into or out of a plan’s service area
- Losing health insurance coverage
- Marriage or divorce
You can receive your Medicare benefits through a Medicare Advantage plan rather than Original Medicare. If you choose this option, you cannot buy a Medigap policy. Most Medicare Advantage plans, including PPO plans and HMO plans, provide drug coverage, so you don’t have to buy a separate Part D plan in most instances.
FAQ's
- Does Aetna Have A Good Reputation?
- Is Blue Cross Blue Shield Good Insurance?
- Is Anthem The Same As BCBS?
Final Summary
Comparing health insurance companies is difficult because there are many variables to consider. However, regarding health care coverage, both Aetna and Blue Cross, and Blue Shield are solid companies with a strong history of excellent performance and strong financial ratings.
A comparison between Aetna and BCBS comes down to evaluating the plans in your area to see how they fit in with your financial situation and healthcare needs.
Sources
- The Chartis Group: Medicare Advantage Enrollment
- Medicare Enrollment Periods: What You Need to Know | Aetna Medicare
- Blue Cross Blue Shield Medicare Plans
- AM Best Affirms Credit Ratings of CVS Health Corporation’s Aetna Subsidiaries
- 2022 U.S. Telehealth Satisfaction Study | J.D. Power (jdpower.com)
- 2022 Health Plans Ratings – NCQA (National Committee for Quality Assurance)
