Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
McCarthy Margaret M
   2. Issuer Name and Ticker or Trading Symbol
AETNA INC /PA/ [AET] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP, Operations & Technology
(Last)
(First)
(Middle)
AETNA INC., 151 FARMINGTON AVENUE		 3. Date of Earliest Transaction (Month/Day/Year)
10/20/2010
(Street)

HARTFORD, CT 06156		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 10/20/2010   S   200 D $ 31.02 0 D  
Common Stock 02/14/2011   M   87,201 A $ 32.11 0 D  
Common Stock 02/14/2011   F(1)   78,784 D $ 37.43 0 D  
Common Stock 02/15/2011   M   6,204 D $ 33.375 0 D  
Common Stock 02/15/2011   S   14,621 D $ 37.15 (2) 9,665 (3) D  
Common Stock               1,012 (4) I By 401(k) Plan

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Appreciation Right $ 32.11 02/14/2011   M     87,201 02/13/2010 02/13/2019 Common Stock 87,201 $ 32.11 43,600 D  
Employee Stock Option $ 33.375 02/15/2011   M     6,204 02/11/2006 02/11/2015 Common Stock 6,204 $ 33.375 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
McCarthy Margaret M
AETNA INC.
151 FARMINGTON AVENUE
HARTFORD, CT 06156		       EVP, Operations & Technology  

Signatures

 Margaret M. McCarthy by Judith H. Jones, Attorney -in-fact   02/16/2011
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Stock Appreciation Right is net settled; amount represents withholding of shares by the Company to pay exercise price and taxes.
(2) Average Sale Price. Range of sales was between $37.03 and $37.25.
(3) Includes 12 shares acquired through dividend reinvestment.
(4) Represents the pro rata portion of the stock portion of Aetna Common Stock Fund held by reporting person on January 31, 2011. The information is based on information provided by the Plan Trustee as of that date.

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