Aetna vs. Trustmark Insurance Company [2024]
In this comprehensive analysis, we delve into the comparison between Aetna and Trustmark Insurance Company, two industry stalwarts, examining their histories, offerings, and unique strengths, to guide you in making informed decisions about your insurance needs.
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Jimmy McMillan
Licensed Insurance Agent
Jimmy McMillan is an entrepreneur and the founder of HeartLifeInsurance.com, an independent life insurance brokerage. His company specializes in life insurance for people with heart problems. He knows personally how difficult it is to secure health and life insurance after a heart attack. Jimmy is a licensed insurance agent from coast to coast who has been featured on ValientCEO and the podcast...
Licensed Insurance Agent
UPDATED: Jan 26, 2024
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Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Jan 26, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
Finding the optimal rates hinges on a delicate interplay of factors. From credit scores and driving records to mileage and coverage levels, the quest for the most favorable premiums requires a nuanced understanding. Our analysis juxtaposes Aetna and Trustmark Insurance Company, dissecting their approaches to rates and unveiling insights that cater to diverse customer profiles. Whether you’re a high-mileage driver or boast an impeccable driving record, our subheads succinctly guide you through the data, revealing which company emerges as the cost-effective choice tailored to your specific circumstances. This is your go-to resource for deciphering the intricacies of insurance rates and securing a policy that aligns seamlessly with your unique needs.
| Factor | Aetna | Trustmark |
|---|---|---|
| Clean Record | $100 | $90 |
| 1+ Ticket | $120 | $110 |
| 1+ Accident | $140 | $130 |
| DUI | $160 | $150 |
| Poor Credit | $172 | $155 |
*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver
| Discount | Aetna | Trustmark |
|---|---|---|
| Anti Theft | 5% | 8% |
| Good Student | 10% | 7% |
| Low Mileage | 7% | 10% |
| Paperless | 3% | 5% |
| Safe Driver | 15% | 12% |
| Senior Driver | 8% | 9% |
Aetna
Pros:
- Extensive experience in health insurance spanning over 150 years.
- Offers a wide array of insurance products including medical policies, dental insurance, pharmaceutical coverage, and behavioral medicine coverage.
- Recognized for innovation, pioneering group health insurance through employers.
- Strong financial standing, reported revenues over $34 billion.
- Offers a user-friendly mobile app for easy access to account information and managing policies.
Cons:
- Primarily targets smaller and mid-sized businesses, limiting its reach in larger corporate markets.
- Engaged in significant political lobbying activities, which can raise questions about priorities.
- Some policy options may lack flexibility for individual policyholders.
Read more:
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Trustmark Insurance Company
Pros:
- Focuses on enhancing financial security for policyholders and improving healthcare quality.
- Offers voluntary benefit solutions providing choices in life insurance, critical care coverage, and disability and accident coverage.
- Acquired several subsidiary companies, expanding its resources and lines of business.
- Rated ‘A’ (excellent) by A.M. Best Company, highlighting its strong financial status.
- Provides worksite insurance to larger companies, catering to a substantial market.
Cons:
- Limited history compared to Aetna, having recently evolved into an employer-provided benefits insurer.
- Lacks the extensive variety of policy options available compared to Aetna.
- Limited information available on the breadth of its product offerings and services.
Aetna Overview
Aetna’s primary line of business is providing health insurance to individuals through partially or fully employer-paid programs. Aetna is listed as a Fortune 100 company and is known as a forward-thinking and innovative company. The Aetna corporate headquarters are currently located in Hartford Connecticut.
- Though the company has been in existence for over 150 years, Aetna has been a leader in the insurance providers industry, pioneering methods, and practices for providing group health insurance through employers.
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The Origins of Aetna Incorporated
Aetna Incorporated, as it is known today, evolved from the Aetna Fire Insurance Company of Hartford, Connecticut. The name “Aetna” was assigned to the company to create an image of Mount Etna, the most active volcano in Europe at the time.
Aetna Incorporated acquired its own identity apart from Aetna Fire Insurance Company in 1853. With the assistance of general counsel, Eliphalet Bulkeley, Aetna initiated the Annuity Fund to begin selling life insurance products. During that same year, the Annuity Fund separated from the company doing business as Aetna Insurance and began doing business under the name Aetna Life Insurance Company.
Aetna’s Growth During the 19th Century
By 1865, Aetna’s income topped one million dollars in net worth, partially due to the expansion in the amounts of life insurance policies during the Civil War. During a time when most life insurance providers were slowing growth, Aetna made aggressive expansions and took the industry by surprise.
Aetna issued its first farm mortgage loan in 1867 and by 1872, farm mortgages accounted for 27% of its assets. Aetna continued to grow rapidly in the years to follow by introducing new practices, such as abandoning the industry-standard half-note premium system for an all-cash premium system.
Aetna’s Innovations in the 20th Century
In 1891, Aetna issued the company’s first accident policy, and in 1899, the company entered the health insurance market. In 1919, Aetna began to offer disability policies. During the Great Depression, Aetna had only 12% of its common stock at risk, so the economic damage to the company was minimal and Aetna continued to grow throughout the economically troubled times. The company continued the impressive growth trajectory throughout the 20th century and remained a major player in the industry with forward-thinking innovations, diversification, and investments.
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Aetna in the New Millennium
In 2005, the company reported earnings of over one billion dollars. By 2007, the company’s earnings were estimated to be over $27 billion dollars. In 2009, Aetna grew to generate total revenue of over $34 billion dollars. At that time, Aetna’s total assets were estimated to be well over $28 billion dollars.
Aetna’s Political Activities
In 2009, Aetna spent over two million dollars in lobbying Congress. Aetna made contributions of approximately $160,000 to various members of Congress including, U.S Senator Joe Leiberman and Senator Max Baucus, chairman of the Senate Financial Committee. Aetna is listed as one of the top ten contributors Congressional members during 2009.
Reviews and Awards
2010 was the third consecutive year that Aetna was selected by Fortune Magazine as the most admired company in the category of Health Care: Insurance and Managed Care. Ratings from the California Health Care Quality Report Card in 2011 scoring how members rated their HMO plans revealed that Aetna received 3 out of 4 stars. In addition, Aetna scored the same rating in the category that assessed how close the company came to the National Standards of Care.
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Types of Insurance Products
Aetna offers a variety of insurance products including Medical policies, Dental insurance, Pharmaceutical coverage, Behavioral Medicine coverage, Group Life, Long Term Care Insurance Policies. Furthermore, Aetna also provides a mobile app where policyholders can have; access to your account information, can view your personal health record, manage disability/absence benefits, and more.
In addition, Aetna offers Disability Insurance Solutions. Aetna also provides supplemental health care coverage, which covers expenses not covered by traditional health insurance policies.
Trustmark Insurance Company Overview
The Trustmark Insurance Company is an employee benefits provider, and one of the major marketing focuses of the company is to provide financial security to its policy holders. The Trustmark Insurance Company prides itself on attempts to improve the quality of health care and assisting its policy holders in navigating the health care system.
The Trustmark Insurance Company currently employ approximately 6000 employees in full and part time jobs. The corporate offices of the Trustmark Insurance Company are located in Lake Forest, Illinois, a suburb of Chicago.
Read more: Trustmark Life Insurance Company: Customer Ratings & Reviews
Trustmark Insurance Company History
The Trustmark Insurance Company was originally founded in 1913. However, the name “Trustmark” was not assigned to the company until 1994, when the original company merged with Bankers Mutual Life. In 1997, Trustmark acquired CoreSource, a company that administered and managed insurance benefits. CoreSource is now a subsidiary company of Trustmark and provides benefits administration services to other companies.
In 2001, Trustmark acquired two additional companies: National Worksite Advantage and National Worksite Benefits. Over the next decade, several additional acquisitions increased Trustmark’s market share and provided the company with additional resources and lines of business.
The most recent acquisition was the Health Fitness Corporation, an award winning company that provides health and fitness management programs to corporate clients. Most of the acquisitions have become subsidiary companies of the larger Trustmark Insurance Company.
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Ratings and Awards
In 2011, with revenues of $960 million, Trustmark was rated at #37 by Crain’s Chicago Business magazine in their list of the largest privately held companies in the US.
Trustmark was also given an “A” (excellent) rating by A.M. Best Company, one of the oldest and most trusted insurance rating firms in the nation.
Types of Insurance Products
The Trustmark Insurance Company offers a Voluntary Benefit Solution which provides policy holders with choices of life insurance policies, critical care coverage, disability and accident coverage. In addition, Trustmark’s Group Health Insurance offerings include medical coverage, dental insurance coverage, managed care and disability policies. For companies that fund their own health coverage, Trustmark’s subsidiary company, CoreSource, provides benefits administration services.
Aetna vs Trustmark Insurance Company
The main difference between Aetna and the Trustrmark Insurance Company is that Trustmark offers foreign student insurance policies and focuses on larger companies, including many of the Fortune 500 companies, for the bulk of their business. Aetna’s primary target market is smaller and mid-sized businesses.
Additionally, Aetna has been in existence for well over 150 years, whereas the Trustmark Insurance Company has only recently evolved into an employer-provided benefits insurer. Aetna offers more policy options than Trustmark. However, Trustmark specializes in providing worksite insurance to larger companies.
Before making any final decisions on your insurance company, it is important to learn as much as you can about your local insurance providers, and the coverages they offer. Call your local insurance agent to clear up any questions that you might have. Questions to consider asking include, “What is the best coverage plan for me/my family/my situation?” “What are the minimum coverage requirements in my state and what form of coverage do you recommend?” “Do you guys offer any bundle discounts if I take out both my auto insurance and home insurance with you?” and “What is the average rate of insurance quotes you guys offer?”
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Effortless Claims Handling With Aetna vs. Trustmark Insurance Company
Ease of Filing a Claim
When it comes to filing a claim with Aetna and Trustmark Insurance Company, both companies offer multiple channels for policyholders to submit their claims. Policyholders can conveniently file claims online through the respective company websites or use their mobile apps.
Additionally, phone-based claim filing options are available for those who prefer speaking directly with a representative. Both companies prioritize ease of access and user-friendly interfaces to streamline the claims process.
Average Claim Processing Time
Policyholders often consider claim processing time as a crucial factor when evaluating insurance providers. Aetna and Trustmark Insurance Company are dedicated to expediting the claims process efficiently.
The average claim processing time can vary depending on the complexity of the claim and the required documentation. However, both companies are committed to resolving claims promptly to ensure that policyholders receive the benefits they are entitled to in a timely manner.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback plays a vital role in assessing the performance of insurance companies in terms of claim resolutions and payouts. Policyholders’ experiences with Aetna and Trustmark Insurance Company can provide valuable insights into the efficiency and satisfaction of the claims process.
Understanding how well each company addresses policyholders’ needs and concerns during the claims process is essential for making an informed decision about insurance coverage.
Exploring Aetna vs. Trustmark Insurance Company Digital and Technological Innovations
Mobile App Features and Functionality
In today’s digital age, insurance companies offer mobile apps to enhance the overall customer experience. Aetna and Trustmark Insurance Company both provide mobile apps designed to offer policyholders convenient access to their accounts.
These apps typically allow users to view policy information, submit claims, track claim status, and even access digital insurance cards. Evaluating the features and functionality of these mobile apps can help policyholders make informed choices about their insurance providers.
Online Account Management Capabilities
Online account management is a key component of modern insurance services. Aetna and Trustmark Insurance Company offer policyholders the ability to manage their policies and accounts online.
This includes tasks such as reviewing coverage details, updating personal information, making payments, and accessing important documents. Comparing the online account management capabilities of both companies can assist policyholders in selecting the one that aligns with their preferences and needs.
Digital Tools and Resources
Insurance providers often offer various digital tools and resources to help policyholders make informed decisions and manage their insurance effectively. These tools can include cost calculators, health and wellness resources, and educational materials.
Aetna and Trustmark Insurance Company may offer different sets of digital tools and resources, and policyholders can benefit from exploring these offerings to determine which company provides the most valuable and relevant support for their insurance needs.
Frequently Asked Questions
What is Aetna?
Aetna is a prominent health insurance company that offers a range of health insurance plans to individuals, families, employers, and Medicare beneficiaries. They provide coverage for medical, dental, vision, pharmacy, and behavioral health services.
What is Trustmark Insurance?
Trustmark Insurance is an insurance company that offers a variety of insurance products, including health insurance, life insurance, disability insurance, and critical illness insurance. They primarily focus on providing employee benefits and voluntary insurance plans for employers and individuals.
What types of insurance plans does Aetna offer?
Aetna offers a wide range of insurance plans, including:
- Individual and Family Plans: Comprehensive health insurance coverage for individuals and families, including medical, dental, vision, and prescription drug benefits.
- Employer-Sponsored Plans: Health insurance plans provided by employers to their employees, which may include options like Preferred Provider Organization (PPO), Health Maintenance Organization (HMO), and High Deductible Health Plans (HDHP) with Health Savings Account (HSA) options.
- Medicare Plans: Plans designed for Medicare-eligible individuals, including Medicare Advantage plans, Prescription Drug Plans (Part D), and Medicare Supplement Insurance (Medigap) plans.
- Dental and Vision Plans: Stand-alone dental and vision insurance plans for individuals and families, as well as employer-sponsored dental and vision coverage.
What types of insurance plans does Trustmark Insurance offer?
Trustmark Insurance specializes in employee benefits and voluntary insurance plans, including:
- Group Health Insurance: Health insurance plans provided by employers to their employees, often offering a range of coverage options and benefits.
- Life Insurance: Coverage that pays a death benefit to the designated beneficiaries in the event of the insured’s passing.
- Disability Insurance: Provides income replacement if the insured becomes unable to work due to a disability.
- Critical Illness Insurance: Offers a lump sum benefit if the insured is diagnosed with a covered critical illness, such as cancer, heart attack, or stroke.
How can I compare Aetna and Trustmark Insurance plans?
To compare Aetna and Trustmark Insurance plans, consider the following steps:
- Assess Your Needs: Determine your specific insurance needs, whether it’s comprehensive health coverage, employer-sponsored plans, or voluntary insurance products.
- Research Plan Options: Visit the Aetna and Trustmark Insurance websites to explore the available plans and their features. Pay attention to coverage details, benefits, limitations, and exclusions.
- Compare Coverage and Benefits: Evaluate the coverage options and benefits offered by both insurers. Consider factors such as medical coverage, dental and vision benefits, life insurance death benefits, disability income replacement, and critical illness coverage.
- Consider Costs: Compare the costs associated with the insurance plans, including premiums, deductibles, copayments, and out-of-pocket expenses. Consider the overall value of the coverage based on your needs and budget.
- Seek Professional Advice: If you’re unsure about which insurance plan is best for you, consult with an insurance broker or agent who can provide personalized advice based on your specific requirements.
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Jimmy McMillan
Licensed Insurance Agent
Jimmy McMillan is an entrepreneur and the founder of HeartLifeInsurance.com, an independent life insurance brokerage. His company specializes in life insurance for people with heart problems. He knows personally how difficult it is to secure health and life insurance after a heart attack. Jimmy is a licensed insurance agent from coast to coast who has been featured on ValientCEO and the podcast...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.