In 1853, the Annuity department separated from Aetna Insurance to form the Aetna Life Insurance Company. In 1861, Aetna began selling life insurance policies which paid dividends to policyholders just like mutual life insurance policies.
By 1864, Aetna had increased its volume of business by 600% over 1861 and its annual premium income ninefold, exceeding one million dollars which allowed it to meet the stringent regulatory requirements placed on life insurance companies in Massachusetts and New York and in 1865, Aetna started doing business in these states.
In 1907, Aetna moved into other insurance areas creating a casualty subsidiary to handle items such as automobile property coverage as well as related lines such as collision and damage which rolled into the Aetna Casualty and Surety Company.
In 2017, CVS Health announced the acquisition of Aetna for $69 billion.
Aetna Inc. is a managed health care company that sells a wide variety of health insurance plans in the United States. Their main focus is employer-based plans for insurance and benefits programs as well as Medicare. Aetna became a subsidiary of CVS Health in 2018.
Aetna currently has 22.1 million medical members, 12.7 million dental members and 13.1 million pharmacy benefit management services members. Aetna’s network is made up of 1.2 million health care professionals, 700,000 primary care doctors and specialists and over 5,700 hospitals.
Aetna earned a 4 out of 5-star rating in our annual review of Best Health Insurance Companies. They got 3.5 and 4 out of 5-star ratings across the board in claims, price and customer service and 4-star ratings in website & apps.
When we asked Aetna customers if they would recommend the company to others, 75% said yes and 84% said they planned to renew their plan.
The complaint data is gathered from the NAIC Complaint Index, which collects complaint information from state insurance regulators and then compares a company’s performance to other companies in the same insurance market. The national average is always calculated to be 1.00; those above 1.00 are worse than the national average and those below are better (have less complaints) than the national average. Read more at the NAIC website.
Note: Many companies have a variety of subsidiaries listed with the NAIC, the one rated here may be different than the one that writes your policy. Check with your company/agent for specific information.