Law Offices One Logan Square, Ste. 2000 Philadelphia, PA 19103-6996 (215) 988-2700 phone (215) 988-2757 fax www.drinkerbiddle.com CALIFORNIA DELAWARE ILLINOIS NEW JERSEY NEW YORK PENNSYLVANIA WASHINGTON D.C. WISCONSIN Established 1849 | November 10, 2014
Barclays Capital LLC Citigroup Global Markets Inc. J.P. Morgan Securities LLC Wells Fargo Securities, LLC as Representatives of the several Underwriters named in Schedule I to the Pricing Agreement hereinafter described
We have acted as special Pennsylvania counsel to Aetna Inc., a Pennsylvania corporation (the “Company”), in connection with the execution and delivery of, and the closing held today under, the Underwriting Agreement dated May 1, 2012 (the “Underwriting Agreement”) among the Company and Barclays Capital LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, as representatives of the several Underwriters (the “Underwriters”) named in Schedule I of the Pricing Agreement dated November 3, 2014 (the “Pricing Agreement”) among the Company and the Underwriters, providing, collectively, for the issuance and sale by the Company of its 3.500% Senior Notes due November 15, 2024 in the aggregate principal amount of $750,000,000 (the “2024 Notes”). We understand that the 2024 Notes are being issued and sold pursuant to the Company’s Registration Statement on Form S-3 (File No. 333-178272) (the “Registration Statement”) filed with the Securities and Exchange Commission (the “Commission”) pursuant to the Securities Act of 1933, as amended (the “Securities Act”), the prospectus dated December 2, 2011, included therein, the preliminary prospectus supplement dated November 3, 2014 and the final prospectus supplement dated November 10, 2014 to the prospectus included in the Registration Statement, each as filed with the Commission pursuant to Rule 424(b) under the Securities Act. This opinion is being delivered to you at the request of the Company pursuant to Section 9(d) of the Underwriting Agreement. Capitalized terms not defined herein have the meanings specified in the Underwriting Agreement. For purposes of this opinion, we have examined originals or copies, certified or otherwise identified to our satisfaction, of the Underwriting Agreement, the Pricing Agreement, the Indenture, the Supplemental Indenture, the form of the 2024 Notes, the Amended and Restated Articles of Incorporation and Amended and Restated By-laws of the Company, and such corporate records and other agreements, instruments and documents and such certificates of the Company or comparable documents of public officials and officers and representatives of the Company, have made such inquiries of such officers and representatives of the Company and have considered such matters of law as we have deemed appropriate as the basis of the opinions hereinafter set forth. In all such examinations, we have assumed the genuineness of signatures, the authenticity of documents submitted to us as originals, the conformity to authentic original documents of documents submitted to us as copies, and the accuracy and completeness of all records and other information made available to us by the Company. We have also assumed that you and each of the Underwriters have acted in good faith and without notice of any fact that has |