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Anthem and Aetna Policy and Plan Comparisons
Now that we're done with the boring history lesson, let's start comparing these two health insurance heavy weights.
It's possible Anthem is going for quantity over quality. They have 14 total plans (Inside and Out of the Marketplace) available for you to choose from in 2015.
Bronze - 5
Silver - 7
Gold - 1
Platinum - 0
Catastrophic - 1
Aetna has the fewest number of plans of any health insurance company in Ohio with a grand total of five.
Bronze - 2
Silver - 2
Gold - 1
Platinum - 0
Simple math will tell you Anthem is going to give you more choice. But having the most plans doesn’t make you the best. Just like having the least doesn’t make you the worst. It’s a matter if there’s one that works for you.
Anthem and Aetna Doctor/Hospital Network Differences
This is where both companies fall pretty far behind. There are other companies that haven’t let Obamacare get the best of them, like Anthem and Aetna. Those companies still offer a mostly unchanged network.
Both Anthem and Aetna decided to significantly limit your choice of doctors and hospitals. Usually only leaving one major hospital network to choose from in your area.
If they happened to pick your prefered hospital system, that might work. If not, than you might have some problems.
You don't want to have to try and squint really hard to see a scenario where one of their plans make sense.
The biggest risk you run with limited choice is not being able to see a top special if needed. As you'll see in the next section, if this could save you money, I might allow it. But, nine time out of 10 it's just not in the cards.
Anthem and Aetna Pricing and Cost
This is where things turn into a battle for last place. Both Anthem and Aetna have had little interest in offering competitive rates. There are companies like Medical Mutual and even InHealth Mutual that are cheaper.
Also, don’t forget the network limitations both companies have.
This has been the case for the last two years, with a few exceptions popping up here and there. Sometimes I would run a quote for a client and Anthem and Aetna would be in the ballpark, but rarely cheaper.
If no major adjustments are made by either company in 2016 you can expect this trend to continue. The rate for 2016 should start to show up at the start of open enrollment on November 15.