Shopping for Medicare supplement insurance can be overwhelming. There are 10 Medicare supplement plan types to choose from at the moment, for starters. Also, numerous companies currently sell these policies, which some call MedSup or Medigap.
To help you find the best Medigap plan for your situation, here are 10 top Medicare supplement insurance companies you should consider while looking for MedSup coverage. They include:
- Aetna: Best for stability
- Anthem Blue Cross and Blue Shield: Best for discounts
- State Farm: Best all-around service
- UnitedHealthcare: Best for AARP members
In this article, you will also learn about:
- How to compare Medicare supplement plans
- When to buy Medicare supplement insurance
- How to save money on a Medigap plan
Top 10 Medicare supplement insurance companies
We considered several factors to come up with this list of best Medicare supplement insurance companies. Among them:
- Company size and financial strength.
- How long the company has been around.
- The number of Medicare supplement plans it sells.
- Where (in which states) it sells Medigap plans.
Best for stability: Aetna
If you’re looking for a Medicare supplement provider that has been around for a long time and is likely to stick around for many years to come, look no further than Aetna. Aetna was founded in 1853 — that means it’s been in business for more than 160 years.
Other reasons to consider Aetna for your Medigap coverage:
- It sells five Medigap plans — A, B, F, G and N.
- It has a user-friendly online portal.
- It has an A rating for financial strength from A.M. Best.
Best for Medigap discounts: Anthem Blue Cross and Blue Shield
Anthem Blue Cross and Blue Shield has you covered if you’re looking for Medigap discounts. For starters, it offers a 5% household discount in many states. It also provides discounts for annual payments and payments that use automatic withdrawal.
Other reasons to consider Anthem Blue Cross and Blue Shield for Medicare supplement insurance:
- It has an A rating from A.M. Best.
- It is licensed to sell Medicare supplement plans in 14 states.
Best Medigap plan selection for a small company: Bankers Fidelity Life
This Atlanta-based insurance company sells eight different Medicare supplement plans. That’s a lot for any insurer, but it’s especially impressive for a small one.
Other reasons Bankers Fidelity Life might be the best Medicare supplement insurance company for you:
- It is licensed to sell Medicare supplement plans in 46 states.
- It also sells life and cancer insurance.
- It has an A- rating from A.M. Best.
Best rated small company: Central States Indemnity of Omaha
Central States Indemnity of Omaha has an A+ rating from A.M. Best. That makes it a standout among small Medicare supplement providers.
Other reasons Central States Indemnity of Omaha is a top company for Medigap plans:
- It is owned by Warren Buffett's Berkshire Hathaway Inc.
- It is licensed to sell Medigap plans in 50 states, as well as in Washington D.C., Puerto Rico and Guam.
Best for couples: Cigna
If you and your spouse — or someone else in your household — buys a Medigap plan from Cigna, you could earn a household premium discount of 7%.
Other reasons to consider Cigna while shopping for MedSup coverage:
- It offers enrollees a Cigna Healthy Rewards program, which can save you even more money.
- It’s been around since 1982.
- It has an A- rating from A.M. Best.
Best Medicare supplement coverage: Humana
Humana is licensed to sell Medigap policies in a whopping 45 states, plus Washington, D.C.
Also, it sells eight different Medicare supplement plans: A, B, C, F, G, K, L and N. It sells the high-deductible Plan F, too. (Note: all plans aren’t available in all states.)
Other reasons to look to Humana for a Medigap plan:
- It has been in operation for nearly 60 years.
- It offers enrollees a variety of discounts and perks.
- It has an A- rating from A.M. Best.
Best Medigap discounts for a small company: Mutual of Omaha
You could argue that Mutual of Omaha offers the best Medicare supplement discount of any Medigap provider, regardless of size. Its household discount can cut your premium by 12%. As if that weren’t enough, your spouse, partner or roommate doesn’t need to be a policyholder. They just need to live with you and be over 60.
Other reasons Mutual of Omaha could be the best Medicare supplement insurance company for you:
- A.M. Best gave it an A+ rating.
- It first opened its doors 110 years ago.
Best all-around service: State Farm
If you want options when it comes to accessing Medicare supplement agents, State Farm may be the company for you. Its agents can help you online, over the phone or even in person. That’s not something you can say about every insurer these days.
Other reasons to consider State Farm for Medigap plans:
- It has an A++ rating from A.M. Best
- It sells six Medicare supplement plans — A, C, D, F, G and N
Best for AARP members: UnitedHealthcare
What do you get when you combine two well-known brands like AARP and UnitedHealthcare? You get a Medicare supplement insurance provider that’s difficult to ignore while shopping for a Medigap plan. This is especially true when you consider UnitedHealthcare’s Medigap plans are the only ones that carry AARP’s name and support.
Other reasons UnitedHealthcare may be the best company for you when it comes to buying Medigap coverage:
- It sells eight different Medigap plans.
- It offers several premium discounts, including a 5% household discount.
- A.M. Best gave it an A rating.
Best for military members and their families: USAA
USAA is known for offering the best insurance plans and products around, and its Medicare supplement policies are no exception. The only caveat: you must be active military, former military or an eligible family member to buy a Medigap plan from USAA.
Other reasons USAA is a top Medicare supplement company:
- It has been around for nearly 100 years.
- It serves almost every state.
- It has an A++ rating from A.M. Best.
Compare Medicare supplement plans
Not only do a lot of insurance companies sell Medicare supplement plans, but they sell a lot of different Medicare supplement plans, too.
In fact, insurers can sell up to 10 Medigap plans. These Medigap plans go by letters — like Plan A, B, C, D, F, G, K, L, M and N.
Use the information below to compare Medicare supplement benefits and find the best Medigap plan for you.
Compare Medigap rates from top health insurance companies
Medigap Plan A
Medigap Plan A is the most basic Medicare supplement plan. It covers these out-of-pocket costs:
- Your Medicare Part A coinsurance and hospital costs.
- Your Part A hospice care coinsurance or copayment.
- Your Medicare Part B coinsurance or copayment.
- The first three pints of blood you receive each year.
Medigap Plan B
Medigap Plan B covers all the same costs as Medigap Plan A, plus it covers your Medicare Part A deductible.
Medigap Plan C
Medigap Plan C covers the same costs as Medigap Plan B. It also covers:
- The Medicare Part B deductible.
- Skilled nursing facility care coinsurance.
- Eighty percent of foreign travel emergency care.
Note: Medigap plans sold to people who are new to Medicare can no longer cover the Part B deductible. Because of this, you can’t buy Medigap Plans C or F if you became eligible for Medicare on or after Jan. 1, 2020.
Also, if you already have Medigap Plan C or F, or if Medigap Plan C or F covered you before January 1, 2020, you can keep that plan. If you were eligible for Medicare before that date but not yet enrolled, you may be able to buy one of these policies.
Medigap Plan D
Medigap Plan D covers the same costs as Medigap Plan C except it doesn’t cover the Part B deductible.
Medigap Plan F
Medigap Plan F is the most popular Medigap plan. It’s also the most comprehensive. It covers all the costs mentioned so far as well as the Medicare Part B excess charge.
Medigap Plan G
Medigap Plan G covers the same costs as Medigap Plan F except for the Part B deductible.
Medigap Plan K
Medigap Plan K is similar to Medigap Plan D. Plan K differs from Plan D by only covering 50% of most costs. It also has an out-of-pocket limit of $6,220 in 2021.
Medigap Plan L
Medigap Plan L is like Medigap Plan K but only covers 75% of most costs. Its out-of-pocket limit is $3,110 in 2021.
Medigap Plan M
Medigap Plan M is the same as Medigap Plan D but only covers 50% of the Medicare Part A deductible.
Medigap Plan N
Medigap Plan N also is the same as Medigap Plan D but it doesn’t cover all Medicare Part B copayments.
To compare Medigap plans side by side, see our Medicare supplement plans comparison chart.
When should I buy a Medigap plan?
You can buy Medicare supplement insurance whenever you want — as long as you’re over the age of 65 and you’re enrolled in Medicare Part A and Part B.
But when should you buy a Medicare supplement plan? The best time to buy a Medigap plan is during your Medigap open enrollment period. This six-month window starts the month you’re both 65 and enrolled in Medicare Part B.
During the Medigap open enrollment period, you can buy any Medicare supplement plan sold in your state, even if you have health problems. And not only that, but you can buy a plan for the same price as someone in perfect health.
After the Medigap open enrollment period ends, you might pay a lot more for that same Medigap policy. And you may not be able to buy a Medigap policy at all. This is because, outside of open enrollment, insurance companies can refuse to sell Medicare supplement coverage to people based on their health or medical histories.
We can help you find good rates for Medicare supplement insurance
How can I save money on Medicare supplement insurance?
Medicare supplement insurance can be expensive. Here are some tips that might help you save money on a Medigap plan:
- Shop around and switch to a Medigap plan that costs less than your current one does.
- Ask the insurance companies serving your area if they offer any Medicare supplement discounts. Some give Medigap discounts to women, non-smokers, married people, people who pay yearly and others.
- Move to an area where Medicare supplement plans cost less than they do where you live now.
- Stop smoking.
While shopping for a Medigap plan or even a Medigap discount, keep in mind that how much you pay for Medicare supplement insurance depends on several factors, such as:
- The plan you buy.
- Where you buy it.
- Where you live.
- Your gender.
- If you’re a smoker or not.
Something else that can impact what you pay for Medicare supplement coverage is insurance companies price Medigap plans using one of three methods:
- Companies that use the issue-age-rate method base your monthly premium on your age when you buy the plan.
- Insurers using the attained-age-rate method base your premium on your current age. This means it increases as you get older.
- And insurance companies that use the community-rated method ignore your age and charge the same premium to everyone who has the same Medigap plan.
Medicare supplement insurance basics
Although most people get Medicare Part A and Part B coverage from the federal government, that’s not where you buy Medicare supplement insurance.
Instead, you buy Medigap plans from private insurance companies. The plans these companies sell are standardized. This means, for example, that all Medigap Plan G policies must provide the same benefits, no matter where you buy them.
Here are some other basic details to keep in mind as you shop for a Medicare supplement plan:
- Insurance companies can sell up to 10 Medigap plans at the moment — A, B, C, D, F, G, K, L, M and N.
- People new to Medicare can’t buy Medigap Plan C or F as of Jan. 1, 2020.
- Don’t look for any of the letters listed above if you live in Massachusetts, Minnesota or Wisconsin. The plans sold in those states are standardized in a different way.
- Companies that sell Medigap plans don’t have to sell all 10 of them. If they sell any, though, one of them must be Plan A.
- You need to be enrolled in Original Medicare, or Medicare Parts A and B, before you can buy any MedSup policy. You can’t be enrolled in a Medicare Advantage plan, however.
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