Accendo Insurance Company Medicare Supplement Plans
Accendo is an insurance company affiliated with Aetna/CVS that offers five Medicare Supplement Insurance plans in most states.
Accendo Insurance Company offers Medicare Supplement Plans A, B, F, G, and Plan N. Affiliation with the highly rated Aetna/CVS Health partnership gives Accendo credibility and access to an expansive network of healthcare professionals. From a customer perspective, there is an opportunity for comprehensive coverage and cost savings through a 14% premium discount for households with more than one Accendo policyholder.
About Accendo Insurance Company
Accendo is a subsidiary of Aetna, and its parent company is CVS Health Corporation. Branch offices sit in Alabama, Florida, Missouri, and Virginia, but since March 2020, Accendo has been offering Medicare Supplement Insurance Plans across 42 states.
A unique feature of Accendo Medigap plans is access to a 14% household discount that reduces your premium. You can qualify if you and a family member living with you carry an Accendo policy.
Since Accendo is an Aetna affiliate, you can also meet the eligibility criteria if one of you is an Aetna policyholder.
In addition to the household discount, Accendo Medicare Supplement plans have member discount programs for vision care and hearing services within the plan’s provider network.
Discounts are not available in all states, so be sure to consult with one of our insurance agents on options specific to your location.
What Medicare Supplement Plans does Accendo Offer?
Under the Medigap umbrella, there are currently 10 Medigap Supplement Insurance plans on the market. Accendo Medicare Supplement plans include A, B, F, G, and N. Accendo does not sell Medicare Advantage plans (Part C) or prescription drug plans (Part D).
Accendo Medicare Supplement Plan G
Medicare Supplement Plan G is the same as Plan F, except that Plan G does not cover the Part B deductible. Plan G may be the most popular plan, given the wide range of benefits and availability compared to other Accendo Medigap plans.
High deductible plan versions of Plan F and Plan G are sold for lower premiums to offset the higher out-of-pocket cost.
Across all insurance companies, Plan G enrollment increased 22% between 2019 and 2020, adding 660,000 beneficiaries.
Plan G had the most significant growth rate in 2020 due to Plan F enrollment changes.
Accendo Medicare Supplement Plan F
Medicare Supplement Plan F offers the most coverage of all the Accendo Medicare Supplement plans.
Following are the benefits you get in addition to the benefits in Plan B:
- Skilled nursing facility coinsurance
- Part B deductible
- Part B excess charges
- Foreign travel emergency health care (up to 80% of covered charges within plan limits)
Note that Plan F is the only one of the Accendo Medigap plans covering the Part B deductible. Since January 1, 2020, Medigap insurance plans have been prohibited from selling plans with Part B deductible coverage to anyone except beneficiaries who became Medicare-eligible before January 1, 2020, and have not yet enrolled.
Accendo Medicare Supplement Plan A
Plan A is the core Medigap plan, covering 100% of:
- Medicare Part A hospital coinsurance
- Inpatient hospital costs up to 365 days beyond the days that Medicare will cover
- Hospice coinsurance or copayments
- Medicare Part B coinsurance or copays
- The first three pints of blood purchased for you
Accendo Medicare Supplement Plan B
Plan B offers the same health insurance as Plan A but adds coverage for the Medicare Part A deductible. In 2022, the deductible amount is $1,556 for each benefit period.
There is an important difference between the Original Medicare Part A and Part B deductibles, not only in the amount but the time frame. The Part B deductible is required once per calendar year. Part A’s benefit period begins the day of admission into a hospital or skilled nursing facility and ends after 60 consecutive days of no inpatient care. After 60 days, a new inpatient admission triggers a new benefit period with a deductible that must be met before benefits are paid. Medicare does not set a limit on the number of benefit periods.
Enrollment in Accendo Medicare Supplement Plans
If you want to sign up for one of the Medicare Supplement policies, it is in your best interest to do so during your Medigap Open Enrollment Period. Federal law does not shield you from medical underwriting outside the Medigap Open Enrollment Period, meaning the insurance company can deny coverage or increase pricing based on preexisting conditions. Specific qualifying events guarantee your right to purchase a policy, but state laws vary on the extent of guaranteed issue rights.
The Medigap Open Enrollment period is a six-month duration, beginning with the first day of the month you turn 65 or older. Enrollment in Part B is a prerequisite. During your Medigap Open Enrollment Period, you can expect the most choices, the best pricing, and no restrictions for preexisting conditions.
Accendo Medicare Supplement Review
AM Best is a U.S.-based global credit agency that publishes financial strength ratings (FSR) and issuer credit ratings (ICR) for the insurance industry. In December 2021, AM Best awarded an “A” (excellent) rating under the FSR and ICR categories for Aetna Life Insurance Company, operating entities of Aetna, and wholly owned subsidiaries of CVS Health Corporation, including Accendo Insurance Company.