Have you heard that Aetna is dropping Medicare Advantage Plans across the country? The company is expected to lose roughly 400,000 (10%) of their enrollees.
This news can be very upsetting and confusing, especially if you or someone you know is currently enrolled in an Aetna Medicare Advantage Plan.
You may have a lot of questions, like “Why is this happening?” “Who is affected?” Or, if you’re affected, “What are my options?”
In this article, we’ll go over the top seven questions regarding Aetna dropping their Medicare Advantage Plans across the country.
By the end, you should know what is happening and what you can do to avoid expensive mistakes.
Top 7 Questions and Answers About Aetna Exiting Medicare Markets in 2025
What Areas is Aetna Exiting?
Aetna will exit Medicare Advantage markets in several states in 2025. As of this writing, this is a developing story.
Aetna announced that it is ending some of its Medicare Advantage Plans, and is expected to keep its other plan types open (such as its Medicare Supplement Plans and Medicare Part D prescription drug plans).
Why is Aetna Exiting Medicare Advantage Markets?
Executives announced that they are prioritizing “margins over membership” in Medicare Advantage for 2025. Like other insurance companies leaving certain Medicare Advantage markets in 2025 (such as Humana, BCBS, and Centene), they have cited rising medical costs and tighter CMS regulations as some of the reasons for their decision.
How Can You Find Out if Your Medicare Advantage Plan is Shutting Down?
If you are currently enrolled in a Medicare Advantage Plan that is shutting down in 2025, your insurance company should have sent you a notice that they are not renewing before September 30, 2024.
If you haven’t received one, you can call your insurance company to make sure your plan isn’t shutting down in 2025.
You can also call us directly and we’ll check it out for you. As licensed insurance agents, we can walk you through your options — and it doesn’t cost you anything to work with us.
Note: Aetna is not the only insurance company shutting down in certain Medicare Advantage markets in 2025. That’s why, regardless of your insurance company, it may be wise to inquire if your plan is staying active in 2025.
How Does This Impact Your Coverage?
Everyone currently enrolled in an Aetna Medicare Advantage Plan that is shutting down in 2025 will lose their current coverage on January 1, 2025.
On January 1, 2025, people enrolled in one of these Medicare Advantage Prescription Drug (MAPD) plans will lose their coverage.
However, if they enroll in another plan during the Annual Enrollment Period (October 15 – December 7), their current coverage will end on December 31, and the new plan’s coverage will begin on January 1.
If they miss the Annual Enrollment Period, they may still have until December 31 to change plans. If they don’t, they will be without drug coverage starting January 1, 2025.
If they fail to enroll in another plan, they will automatically revert back to Original Medicare on January 1.
You can enroll in a new Medicare Advantage Plan during the Annual Enrollment Period (October 15 – December 7), or a Special Enrollment Period (if you qualify). If you don’t enroll in a new Medicare Advantage Plan, you will revert to Original Medicare on January 1, 2025.
Note: not all Aetna Medicare Advantage Plans are ending. Aetna is yet to release a full list of areas where they are not renewing plans. See the next question to find out how to tell if your plan is ending.
What Can You Do If Your Plan Is Shutting Down?
If your plan is not renewing in 2025, you may enroll in a different Medicare Advantage Plan during the Annual Enrollment Period, which runs from October 15 to December 7. During this period, you can switch to another Medicare Advantage Plan available in your area.
Any plan change you make during the Annual Enrollment Period will take effect on January 1 of the following year.
If you are losing your Medicare Advantage Plan because it is shutting down, you may qualify for a Special Enrollment Period that starts on December 8 and ends on the last day of February of the following year. During this period, you may enroll in a Medicare Advantage Plan or a Medicare Part D prescription drug plan.
Generally speaking, if your plan is shutting down in 2025 and you qualify for a Special Enrollment Period, you can technically switch plans until February 28. However, if you wait this long, you would be without full coverage from January 1 to February 28. That’s why it’s popular to get new coverage within the 2024 Annual Enrollment Period window (October 15-December 7).
What Are Your Other Options?
Aside from joining another Medicare Advantage Plan, you may also enroll in a Medicare Supplement Plan.
If you’re losing your Medicare Advantage coverage because your plan is ending, you qualify for guaranteed issue rights for Medicare Supplement Plan A, B, C, D, F, G, K, and L.
That means you can enroll in one of these eight Medicare Supplement Plans without undergoing medical underwriting during your guaranteed issue rights period.
This guaranteed issue rights period starts 60 days before you lose your Medicare Advantage coverage, and ends 63 days after you lose your Medicare Advantage coverage.
You can also enroll in a Medicare Supplement Plan N or M, but since there are no guaranteed issue rights for these two plans, you may have to pass medical underwriting before you are accepted for these plans.
Where Can You Get Help?
If you need help navigating these confusing times, you can contact a licensed insurance agent to assist you. Licensed insurance agents work with several different insurance companies, so they can listen to your needs, compare the plans available in your area, and help you find the right plan fit for you in 2025 without bias.
Licensed insurance agents are also paid by commission so that you can get their services at no cost to you.
So, if you need help, call or text us at +1 877-360-6565 (TTY: 771), and we’d be glad to assist you with your concerns!
Conclusion
If you or someone you know is currently enrolled in an Aetna Medicare Advantage Plan, we understand that this period of change can sometimes feel overwhelming and cause anxiety.
However, here’s a quick summary to help you navigate the road ahead:
- Check if your Medicare Advantage Plan is ending in 2025.
- Switch to another Medicare Advantage Plan during the Annual Enrollment Period or Special Enrollment Period, or
- Switch to a Medicare Supplement Plan using your guaranteed issue rights.
- Contact a licensed insurance agent for help finding and enrolling in the right plan fit for you in 2025.
Follow these four simple steps, and you should have a relatively smooth transition into a new plan for 2025. For unbiased help finding the right plan for you, don’t hesitate to reach out to our team of licensed insurance agents by clicking the link below: