Accendo Medicare Supplement Plans
Everyone wants the best healthcare they can get, but that decision can be hard. Without the right information, which sometimes cannot be readily available, some may not be able to make the best, and most informed, decision for them.
Our review of Accendo, a new medicare supplement plan launched on March 13, 2020, will help you stay informed with the newest in medicare supplements.
What Accendo Offers
Currently Accendo offers Medicare Supplement Plans A, B, F, G, & N. The availability of each plan can vary by state.
One feature of all plans is a unique 14% household discount if both spouses enroll with Accendo. This is higher than average household discounts given by most companies.
[TIP] Knowing this is a good tip when shopping for the perfect Supplement plan for you. Don’t only look at individual pricing, but consider yourself and your spouse as a package. You might find overall pricing much more competitive than if you both chose different company plans. A good broker can run those numbers for you to find the most affordable coverages with the biggest benefits.
Accendo Medicare Supplement Plan A
As you know, the federal government defines the coverage offerings for each plan. Regardless of company, coverage packages will be the same. There are differences between companies and we will discuss below, but coverage remains the same among all.
Plan A is the basic benefit package for all other Supplement Plans. It is the lowest level of coverage options. All other plans build off of Plan A and will include these benefits:
- Plan A offers 100% coverage on:
- Part A coinsurance
- First 3 Pints of Blood
- Part A hospice coverage
- Part B copayments or coinsurance
Plan B includes all the benefits of Plan A with one important addition. Medicare Part A deductible is included in the Plan B benefits.
Plan F is the most comprehensive Medicare Supplement available. It covers everything that the original Medicare does not pay in full. Because of the broad nature of coverage in this plan, it has the most frequently purchased plan.
Including Plan A & B, you receive the following coverages:
- Medicare Part A & Part B coinsurance
- Hospital costs are covered for 365 days after you deplete the Medicare benefit
- First 3 pints of blood needed
- Nursing Facility Coinsurance
- Medicare Part A & B deductibles
- Emergency Medical expenses in a foreign country
- Part B excess charges
If you see a physician that accepts Medicare and your treatment is a covered expense, you will not have any out-of-pocket medical expense.
Plan G covers almost every Medicare Supplemental benefit, except Part B’s annual deductible. The out-of-pocket spending will be higher than Plan F. This is becoming the popular supplement plan, because it is cheaper than Plan F.
Here’s the main benefit of Plan: the amount you save in premium is more than the deductible which usually justifies Plan G over F. Rate increases have tended to be less on average with G.
If You Need Help
Plan N is a good option for healthy seniors who don’t see the doctor very often. You can potentially save up to 25% of your monthly premiums on this plan. You will have a small office co-pay with Plan N but will save on your insurance premiums.
It is identical to Plan G except it does NOT cover:
- Part B deductible
- Part B excess charges
- Doctor office co-pays
- $50 Emergency Room Visits
The exclusions make it very affordable often. Make sure to talk with your agent to see if you are good fit for this plan based on your medical history and frequency of doctor visits.
As we have reviewed the plans, we have found them very competitive especially with plans F, G, & N.
Regardless of the plan you choose you can guarantee the following benefits:
- 12-month rate guarantee (all plans)
- Competitive rates
- A product seniors trust
- No waiting period for pre-existing conditions
- Over 30 years claims experience
- Knowledgeable, in-house customer service
Accendo, a partnership between Aetna and CVS, is a new medicare plan that aims to provide better services to households. With this new partnership, both CVS and Aetna strive to put the customer first when developing a medicare plan. By cutting prices for the customer while still providing the same great service, recipients of this new plan will be in good hands without emptying their wallet.
In today’s world, people are dealing with chronic illnesses more often and are not receiving the care that they need to treat them. Plans can be hard to find, difficult to pay for, or just do not provide the right services needed to treat chronic illnesses. This new partnership strives to make this process easier for patients who need this type of care.
Aetna and CVS will also begin to provide screenings for communities as this partnership continues. They plan to create a better and healthier community through this partnership, providing care to those who need it most.
Our review will give you the basics of the Accendo product by walking your through:
- The history of Aetna and CVS, and why this matters for their medicare supplement product.
- The various supplement plans will be discussed along with the advantages of each of these plans.
- Finally, we will summarize our experience and opinion of the new Accendo product.
History of the Aetna and CVS partnership
In 2008, the nationwide pharmacy company, CVS, entered into a partnership with Aetna. At that time, Aetna became a subsidiary of CVS.
Aetna began as an insurance company in Hartford, Connecticut in 1819 under the direction of attorney Henry Ellsworth. The name was taken from the famous Mediterranean mountain on the island of Sicily, projecting strength and stability.
In 1850, Aetna re-organized an annuity fund to sell life insurance. They retained the Aetna name because of the solid reputation earned through their early years of business.
In 1968, Aetna listed their stock on the New York Stock Exchange. In 1975, they were one of the first companies to create an HMO and entered the managed healthcare space.
To focus more intensely on healthcare and health insurance products, Aetna divested themselves of their property and casualty business in 1996. Then to continue this focus on health, in 2013, Aetna acquired Coventry Health Care, which was the 3rd largest managed care organization in the nation.
ry, Aetna has remained one of the world’s largest providers of healthcare, dental, pharmacy, group life and disability insurance, and employee benefits.
CVS, or Consumer Value Stores was founded in 1963 in Lowell Massachusetts by Stanley, Sidney Goldstein, and Ralph Hoagland. This new company grew from Mark Steven, Inc. which helped CVS manage their health and beauty product lines. Pharmacies may be what they are known for today but this was not their original business model. The pharmacy side of the business was not added until later.
CVS later partnered with the Melville Corporation in order to expand their retail businesses. Through this partnership CVS saw much success in the 1980’s and 1990’s which allowed them to break off from Melville and was later traded on the New York Stock Exchange.
In 2007, CVS partnered with Caremark Rx which developed into CVS Caremark Corporation and then later CVS Health in 2014. CVS provides many healthcare services since this merger which has allowed them to open CVS Pharmacy, CVS Caremark, CVS Specialty, and the MinuteClinic.
The Caremark partnership gave CVS the knowledge and experience that would lead to the merger with Aetna to form a new healthcare powerhouse.
In 2018, CVS acquired Aetna for $68 billion. By 2019, CVS was ranked #8 on the list of Fortune 500 companies and #19 on the global Fortune 500 list.
To give you more detail on the strength of Accendo, it is helpful to discuss the final piece of the CVS lineup that allowed for the development of strategic products, especially for the Senior population.
Caremark, before the acquisition by CVS, was founded in 1979 by James Sweeney as the Home Health Care of America (HHCA). The first office was opened in Beachwood, Ohio with only four employees on staff. In this early stage, they were partnered with Cleveland Clinic Foundation which helped provide resources for their healthcare services.
In 1992, Caremark separated from their parent company Baxter in order to better provide healthcare services. They were now being publicly traded on the New York Stock Exchange after this separation. In 1998, Caremark partnered with MedPartners which later rebranded as Caremark Rx before partnering with CVS.
CVS also has one of largest pharmacy benefits managers through CVS Caremark and a major Medicare Part D plan sponsor through its SilverScript unit.
The additional healthcare services especially with pharmaceutical managment has created a strong brand for Accendo.
Today, Aetna & Caremark under the CVS leadership serves approximately 22.1 Million medical members, 12.7 Million dental members, 13.1 Pharmacy benefit management services. Their network stretches across the country reaching over 1.2 million health care professionals, 700,000 primary care doctors and specialists, and over 5,700 hospitals.
Accendo has the same access to all the resources both CVS and Aetna built over their many decades of growth.
Let’s transition to what Acccendo can over consumers for Medicare Supplement options
States and Rates
Here is the list of where Accendo is currently available and along with samples rates for NC.*
Use this as a starter guide to determine if Accendo is one of the companies you should consider when shopping for a Supplement plan.
Accendo is currently offered in the states of:
Arkansas, Arizona, Georgia, Iowa, Illinois, Indiana, Michigan, Mississippi, North Carolina, Nebraska, New Jersey, Oklahoma, Pennsylvania, South Carolina, and Tennessee
This is an example of Accendo pricing in NC for a 65 Year Old Female, Non-Tobacco User
|Plan G||Plan N||Plan A||Plan F|
|Household % – 14%||Household % – 14%||Household % – 14%||Household % – 14%|
|Monthly Rate: $105.40|
|Monthly Rate: $123.53|
|With % – $90.33||With % – $81.80||With % – $80.45||With % – $106.23|
|Annual Rate: $1261||Annual Rate: $982||Annual Rate: $1123||Annual Rate: $1483|
|Annual % Rate: $1084|
Annual % Rate:
Annual % Rate:
|Annual % Rate: $1275|
|Policy Fee: $25||Policy Fee: $25||Policy Fee: $25||Policy Fee: $25|
*If you don’t see your state, click for other Aetna availability in your area.
Even though Accendo is new to the market, it is built upon two strong and reliable companies. The financial strength and service record of both companies deliver high levels of trust for customer service, claims processing, rate stability, and competitive premiums.
We recommend that you consider Accendo, when shopping for medicare supplement coverage. Make sure you work with your agent to compare pricing and benefits. It is critical they understand your current needs, so they can find the best plan for you.
Pricing and accessibility can vary among the states, and we work nationwide.
Contact one of our agents today or get a quick competitive medicare supplement quote now.