When shopping for a medicare supplemental (medigap) policy, it helps to be familiar with the top 10 medicare supplemental insurance companies. Whether you’re new to Medicare or considering supplemental coverage a few years after joining Medicare, we’ve got the information you need to make the best decision possible.
We evaluate several elements for a medicare supplemental insurance company to be one of the best. Our picks for top companies are based on consumer reports, top rating, standard and poor (s&p) rating, and the number of years the company has been in business. Knowing about a provider is essential when comparing Medigap rates to find the best policy for you.
what are the top 10 medicare supplemental insurance companies?
- mutual of omaha – best overall
- aetna: high quality national availability
- cigna: superior customer service
- united american: the best enrollment experience
- capitol life: competitive premium cost throughout the country
- unitedhealthcare: the best underwriting process
- manhattan life: the best website experience
- human – best value
- blue cross blue shield – best mobile app
- banker loyalty: the best senior experience
mutual of omaha: best overall medicare insurance company
it’s clear why mutual of omaha is at the top of our list. this company has an a+ rating with am best and an aa- rating with s&p. Established in 1909, Mutual of Omaha has been a household name for more than a century. 98% of Medicare claims are paid within 12 hours, saving clients the hassle of worrying about claim status.
plus, you get several policy options when you use mutual of omaha as your medicare insurance carrier. In addition to Medicare Supplement plans, Mutual of Omaha offers Medicare Part D prescription drug plans, dental coverage, and long-term care insurance, to name a few of its products.
In addition, the household discounts make it beneficial to choose Mutual of Omaha if your spouse already has an active Medigap policy with this company.
aetna: widely available medicare insurance company
Founded in 1853, aetna proves to be one of the most established insurance companies in the entire country. More than 39 million customers, including Medicare beneficiaries, trust Aetna for their health care coverage. aetna is rated a from am best and a+ from s&p. therefore, aetna proves to be one of the best companies in all aspects.
as a medicare insurance company, aetna offers the best medigap plans in 43 states. These plans provide significant benefits, such as a 12-month rate-lock guarantee, discounts for homes in many of the 43 states in which they are available, and free 30-day review protection.
cigna: the best customer service from a medicare insurance company
The Insurance Company of North America (INA) began in 1792 as the first shareholder-owned insurance company in the United States. ina eventually became the company we know today as cigna, one of the most well-known national health insurance companies. rated as a company by am best and s&p, cigna has proven to be an insurance company worthy of medicare.
As a medicare supplemental insurance carrier, cigna offers all the best medigap plans and an amazing dental, vision and hearing plan option for medicare beneficiaries. Cigna also offers discounts for spouses and families in many states across the country. however, one of Cigna’s advantages is its top-rated customer service department.
American – Best user experience for a medicare insurance company
United American Insurance Company began in 1947 and has been offering Medicare insurance options since 1966. The company currently maintains an A+ rating from AM Best and has done so for more than 40 years. however, united american’s s&p rating is aa-.
united american offers many of the best medicare supplemental plans, but is best known for its high deductible plan f and medicare supplemental high deductible plan g policies. A key reason many people with Medicare choose United American is its two-year policy anniversary rule.
united american’s two-year policy anniversary rule allows those who enroll in a high-deductible plan to switch to the standard version of their plan on the two-year policy anniversary with no health questions asked. subscription. this means you cannot face denial due to pre-existing health conditions. So, if you have a Medicare Supplemental High Deductible Plan G with United American and want to switch to Medigap Plan G through the same provider, you can do so after two years.
capitol life: the most affordable medicare insurance company
capitol life is an american insurance company founded in 1905, specializing in medicare supplements and life insurance. the company is highly successful, receiving an a- rating from am best and an a rating from s&p.
After more than a century in business, Capitol Life remains a trusted Medicare insurance company. Capitol Life is committed to bringing low-cost Medicare Supplement plans to as many people as possible.
unitedhealthcare: medicare insurance company’s simplest underwriting process
UnitedHealthcare has been providing Medigap options to Medicare beneficiaries since the late 1970s. As one of the top two largest insurance companies in the country, UnitedHealthcare is an excellent choice when looking for a Medicare insurance company.
unitedhealthcare is rated as a company by am best and an a+ company by s&p. these ratings accurately represent the company as a whole. UHC provides quality health care to Medicare beneficiaries across the country with one of the easiest Medicare supplement enrollment processes.
manhattan life: the best medicare insurance company website experience
manhattan life has insured Americans for more than 170 years. As one of the oldest continuously operating insurance companies in the United States, Manhattan Life continues to satisfy policyholders. Manhattan Life has a B++ rating from AM Best and an A rating from S&P.
manhattan life offers five medigap plans and a comprehensive dental, vision and hearing plan. The company is successful in the field of medicare, with more than 30 years of experience. manhattan life is dedicated to advancing its technology for an easier user experience.
humana: best value medicare insurance company
humana insurance company has been providing health care coverage to americans since 1961. rated a company by am best and a b++ company by s&p, humana prides itself on providing affordable health care for all members.
As a premier Medicare insurance carrier, Humana offers policyholders several additional benefits. These benefits include Silversneakers memberships in 47 states and 24/7 access to telehealth doctors.
blue cross blue shield: the best mobile application of the medicare insurance company
blue cross blue shield has been a leading insurance company since 1929. rated a by am best and b by s&p, bcbs is one of the most recognized medicare insurance companies.
blue cross blue shield focuses on customer satisfaction. The company offers typical Medigap plans and policies that combine dental, vision, and hearing coverage. One of its best assets is an easy-to-use mobile app for customers to track their claims and payment history.
banker loyalty: top rated senior experience with a medicare insurance company
bankers fidelity has served seniors with medicare for more than 65 years. With an A- rating from both AM Best and S&P, Bankers Fidelity continues to be a successful Medicare insurance company.
what is the highest rated medicare supplemental insurance company?
The top rated medicare supplement company may vary by location, as plan ratings are not the same in every state. however, the above companies have the 10 highest ratings on average across the country.
Each operator has a specialty that makes it unique. however, each also has its pitfalls. your location and needs as a consumer will determine which carrier is right for you.
what is the downside of medicare supplemental plans?
The biggest downside to Medicare supplemental plans is the upfront costs. In the long run, you’ll likely spend less on medical care with medigap than with medicare advantage or original medicare (part a and part b) alone. However, Medicare Supplement plans require higher monthly premiums than Medicare Advantage, and you will still need to pay your original Medicare and Medicare Part D premiums, if applicable.
When you get health care services with medigap, you’ll find that your out-of-pocket costs are much lower than any other type of coverage. therefore, to receive great benefits in the long term, you will have to pay a higher monthly premium, which may discourage some consumers.
is there a medicare supplemental plan that covers everything?
When it comes to medicare supplemental plans, you only get coverage for services that original medicare covers. this means that medicare supplemental plans don’t cover services not normally covered by medicare part a or b.
Some of the essential benefits that Original Medicare does not cover include dental, hearing, vision and prescription drug benefits. To receive this coverage, you must enroll in separate plans that work in conjunction with your original Medicare and Medicare supplement policy.
however, if you’re looking for the medicare supplemental plan with the most comprehensive coverage, you’ll find it in medicare f supplemental plan if you’re eligible. This plan covers 100% of the out-of-pocket costs of the original medicare licenses. To qualify for this plan, you must enroll in Original Medicare before January 1, 2020.
if you’re not eligible for medicare supplemental plan f, plan g is your next best option. Once you pay the annual Medicare Part B deductible, Medicare Supplement Plan G covers 100% of your out-of-pocket costs, as does Medicare Supplement Plan F.
what is the best way to choose a medicare supplemental plan?
The best way to choose a medicare supplement plan is to compare all of your options and decide which plan best fits your budget and health care needs. To compare all the plans in your area in one place, you’ll need to work with a licensed broker with access to all the providers in your area.
once you compare all the plans, your broker can help you weigh the pros and cons of each carrier until you decide which one is right for you. So choosing a level of coverage for your plan is the easy part.
To receive your free parallel plan comparison for all the major carriers in your area, fill out this online rate form and we’ll connect you with an authorized agent who can help you find your ideal coverage.