A Medicare Supplement Companies Overview of Insurance Options

Medicare Supplement companies offer a range of insurance options to help cover out-of-pocket costs. There are 10 standardized plans (A-N) to choose from, each with varying levels of coverage.

Plan A is the most basic, covering only the Part A deductible and the first three pints of blood. Plan J, on the other hand, offers the most comprehensive coverage, including the Part A deductible, Part B deductible, and 80% of foreign travel expenses.

Plan F is the most popular, covering 100% of the Part B deductible, as well as 80% of foreign travel expenses and 100% of the Part B coinsurance. Plans K and L offer partial coverage, with Plan K covering 50% of the Part A deductible and 50% of the Part B coinsurance, and Plan L covering 75% of the Part A deductible and 75% of the Part B coinsurance.

Medicare Supplement companies often have their own network of providers, but you can see any doctor who accepts Medicare.

A number of reputable companies offer Medicare Supplement plans, but some stand out from the rest. Mutual of Omaha, for example, has a user-friendly website and strong financial ratings, but it only offers three Medigap plans in most areas.

Aetna, on the other hand, offers seven types of standardized Medigap plans and has a partnership with CVS Health, which further stabilizes the company. However, its Medigap plans are only available in 42 states.

Anthem Blue Cross Blue Shield is another top contender, with a 10% household discount and the lowest average premium for Plan G. It also offers a fitness membership and health discounts, making it a great option for those looking for extra benefits.

Here are some of the top Medicare Supplement companies:

These companies offer a range of benefits and discounts, making them worth considering for those looking for a Medicare Supplement plan.

Mutual of Omaha is a well-established company that has been in the Medicare market since its inception. They offer Medicare Supplement insurance in all 50 states and Washington D.C.

Their website is user-friendly, making it easy for members to navigate their benefits and track claims. This can be a huge time-saver for those who need to keep track of their insurance information.

Mutual of Omaha has strong financial ratings and a long history of stability, which is reassuring for those looking for a reliable insurance provider. This stability can give members peace of mind, knowing that their insurance company will be around to support them.

In some states, Mutual of Omaha offers a 12% discount on monthly Medicare Supplement insurance premiums for members who meet certain eligibility criteria. This can be a significant cost savings for those who qualify.

Mutual of Omaha offers 3 Medigap plans in most areas, including Plan F, Plan G, and Plan N. These plans are among the most popular options, and they account for 85% of all Medigap enrollment.

Here's a brief overview of the 3 plans offered by Mutual of Omaha:

Anthem is the lowest-cost Medigap provider, with the best average premium for Plan G.

Their average premiums for Plans F and G are lower than the industry average, and in some states, you can get a 10% household discount if you cover multiple people in the same household.

Anthem offers Medigap policyholders extra benefits, such as a SilverSneakers fitness membership, prescription drug discounts, and savings on vitamins and weight loss programs.

You can get prescription drug, dental, or vision coverage for an added cost.

Anthem has a good reputation, with customers making roughly the number of complaints to state regulators as would be expected, given the company's size.

They were granted an A grade by AM Best, reflecting an "excellent" ability to pay their insurance claims.

Anthem was founded in the 1940s and is based in Indianapolis, and is now owned by Elevance Health.

AARP/UnitedHealthcare is a well-established and trusted source of Medicare Supplement Insurance plans. They offer 9 out of the 10 standardized Medigap plans, including the popular Plan F, Plan G, and Plan N.

One out of every three Medigap beneficiaries is enrolled in a plan from UnitedHealthcare and AARP. This is a testament to the company's reputation and wide availability of plans.

UnitedHealthcare provides Medicare Supplement plans through a partnership with AARP, making them a top choice for millions of older adults. They offer a community pricing model with discounts that some people may find attractive.

Their community-rated model charges everyone similar premiums at the beginning, regardless of age, and raises premiums at the same rate for everyone. This differs from attained-age pricing, which many competitors use.

AARP/UnitedHealthcare's average Plan G premium is around $268, which is lower-than-average for this type of plan. They also offer some nice extras with their Medicare Supplement plans, such as a free gym membership and discounts on dental, vision, and hearing care.

Here are some key benefits of AARP/UnitedHealthcare's Medigap plans:

It's worth noting that AARP membership is required to enroll in a plan from UnitedHealthcare. However, this membership also provides access to other benefits and discounts.

Humana offers a wide range of plan availability across some parts of the country, which is a plus for those looking for options. However, its customer satisfaction ratings are a concern, with an average BBB customer review of 1.17/5 stars.

Depending on the plan, Humana Medigap plan members may have access to discounts on various services, such as acupuncture, massages, nutrition services, and more. This can be a nice perk for those who take advantage of these services.

Humana's high-deductible Plan G policy is widely available and costs less than average, which makes it a good option for those looking to save money. However, in some states, Aetna or Blue Cross Blue Shield may offer better premiums and stronger customer satisfaction ratings.

Here's a comparison of Humana's pros and cons:

Aetna is a strong company with a partnership with CVS Health, offering Medigap plans to over 39 million customers. Its mobile app helps plan members manage their coverage.

Aetna sells 7 types of standardized Medigap plans, but its Medigap plans are only available in 42 states. Aetna's coverage is guaranteed renewable, meaning it won't cancel your policy because of a health condition.

Humana offers a wide range of plan availability across some parts of the country and provides additional perks to its Medigap plan members, such as discounts on acupuncture, massages, and chiropractic care. However, its average BBB customer review is only 1.17/5 stars.

UnitedHealthcare, or UHC, tops the list of companies when looking for the best Medigap providers, offering competitive pricing for Plan G. Its community pricing model charges everyone similar premiums at the beginning, regardless of age, and raises premiums at the same rate for everyone.

UHC's average Plan G premium is $268, which is lower than the industry average. Its low complaint index with the National Association of Insurance Commissioners (NAIC) shows it received fewer customer complaints to state regulators than expected, given its size.

Blue Cross Blue Shield offers all 10 types of Medicare Supplement plans, including high-deductible Plan F and extra benefits in most states. Its average Plan F premium is lower than the industry average.

State Farm has a better-than-average pricing, with an especially low average premium for Plan G, but it offers no extra benefits or discounts. Its lowest loss ratio for 2022 indicates it may devote a smaller share of premiums to policyholder claims.

Here's a comparison of the top Medicare Supplement companies:

Note: The availability and pricing of Medicare Supplement plans may vary depending on your location and other factors. It's essential to research and compare plans to find the best fit for your needs.

Choosing a Medicare supplement insurance company can be a daunting task, but it's essential to get it right. Not every insurance company sells Medicare Supplement Insurance in every state, so you need to choose one that serves your area.

You'll need to research and compare different plans to find the one that best suits your needs. Consider factors such as financial strength ratings, customer service reviews, and overall reputation to ensure you can trust the company with your business.

To make the process easier, you can use Medicare's interactive website tool to compare Medicare supplement plans quickly and easily. This tool allows you to enter your zip code, age, gender, and tobacco status to get an estimate of the premiums for each plan.

Here are some key factors to consider when choosing a Medicare supplement insurance company:

Choosing the right insurance company is crucial when it comes to Medicare Supplement Insurance. Not every insurance company sells Medicare Supplement Insurance in every state, so it's essential to choose a company that serves your location.

You can find a list of insurance companies that sell Medicare Supplement Insurance in your state by visiting the AARP website. Research has shown that companies like UnitedHealth Group and Allianz are among the largest insurers in the world, according to AM Best Information Services.

When choosing a Medigap plan, consider the benefits of each type of plan and decide where you need the most coverage. Compare prices among different companies, as one company's Plan G might cost more than another company's Plan G despite offering the same coverage. Check out any discounts available from each company.

Consider factors such as an insurance company's financial strength ratings, customer service reviews, and overall reputation to ensure you can trust them with your business. You can find information about a company's reputation by visiting the Better Business Bureau (BBB) website.

Here are some key criteria to consider when choosing a Medigap company:

These criteria are based on the methodology used by Investopedia to review Medicare insurance providers. By considering these factors, you can make an informed decision when choosing a Medigap company.

Humana's high-deductible Plan G is a great option for those looking for a more affordable choice. It's widely available and costs less than average for the companies in Investopedia's five-state cost survey.

Humana's high-deductible Plan G policy is sold in most states, and its average premium was just $93 in a cost analysis of ZIP codes in five states. This is better than the industry average.

You can also get a generous 12% spouse discount to reduce your price further, which is a nice perk. However, it's worth noting that Humana's complaint record is far worse than anyone else's on this list.

Humana received a very respectable A financial strength rating from AM Best, which is a good sign. But it's always a good idea to do your own research and compare options where you live.

Here are some key facts about Humana's high-deductible Plan G: