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Top 10 Medicare Supplement Companies

author
Laura McCarthy
Last Updated:
  • 200
    Hours of Research
  • 33+
    Sources Used
  • 14
    Companies Vetted
  • 8
    Features Reviewed
  • 10
    Top Picks

Medicare supplement plans are designed to offset the additional healthcare costs that aren't covered by Medicare. Many of the following companies will refer to this additional coverage supplement as "Medigap". We'll discuss the best options out there with regard to coverage, eligibility, and pricing structure.

Providers

1.

Cigna

  • Best for:

    Competitive Rates

    Cigna

  • Best for convenience

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    • Guaranteed Renewable for Life - your policy cannot be canceled

    • No referrals required in most cases

    • Coverage for all of the US

    Cigna is a health service company that provides an array of health products and services to individuals, families, and businesses. Some of these products include health, dental, and pharmacy insurance, as well as Cigna supplemental insurance and Cigna Medicare plans.

    Three of the most popular Medicare supplement plans offered by Cigna are the Medicare Supplement Plan F, Medicare Supplement Plan G, and Medicare Supplement Plan N. Each plan offers unique benefits and coverage.

    Plan F covers all that Medicare does not. This includes helping to pay Medicare deductibles and the 20% coinsurance for Medicare services. Plan F covers both Part A and Part B deductibles. The fact that it covers the Part B deductible, as well as Part B's excess charges is what sets it apart from nearly all other plans.

    Plan F accounts for more than 57% of all active Supplement policies. It is also the most expensive plan because of its comprehensive nature. Even with increasing rates in Plan F, it is apparent many retirees feel it's worth the investment because of the broad coverage.

    Overall, this plan offers the most coverage with the lowest out-of-pocket costs. This is what makes it the most popular plan, but also why it has the highest monthly premium has been susceptible to rate increases.

    There are some noteworthy aspects of Cigna that differentiate it from other Medicare supplement providers. For starters, Cigna offers great coverage and service at competitive rates with plans that cover you throughout the U.S. You can also enroll in Cigna's Health Rewards to take advantage of the following discounts: Gym memberships, Yoga equipment, Vitamins and other health products, Chiropractic work and massage, and Organic Food discounts.

    Additionally, Cigna offers discounts for vision and hearing care, such as eyewear and vision exams, Lasik vision correction, hearing aids and exams, and hearing protection devices.

    Pros

    • Discounts for vision and hearing care

    • Competitive rates

    • Cigna Health rewards

    Cons

    • Cigna's Medicare Advantage offerings are only available in 18 states.

    • Most of Cigna's MA plans are HMOs.

    Cigna

    2.

    Banker's Fidelity

  • Best for:

    No pre-existing condition waiting period

    Banker's Fidelity

  • Best for convenience

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    Visit Site
    • Guaranteed Renewable for Life

    • No pre-existing condition waiting period

    • Visit any doctor who accepts Medicare

    Bankers Fidelity Life Medicare supplement plans all offer the standard Medigap features such as nationwide access to Medicare providers. They also offer guaranteed renewable coverage and no pre-existing condition waiting periods. Available plans, coverage and options may vary by state.

    The bottom line is that a Medicare supplement insurance policy from Banker's Life or any Medigap company can help lower your out-of-pocket medical expenses. This portable coverage will protect you if you develop health problems. Your coverage travels with you and you can choose your doctor and visit any hospital without a referral.

    Pros

    • No pre-existing condition waiting periods

    • Nationwide access to providers

    • Renewable coverage

    Cons

    • Somewhat expensive

    Banker's Fidelity

    3.

    Humana

  • Best for:

    Potential for no out of pocket costs for hospital care

    Humana

  • Best for convenience

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    • Potential for no out of pocket costs for hospital care

    • 24/7 access to a nurse

    • Access to Humana Transplant Center

    Depending on your state regulations, Humana offers Medicare Plans A through N, often called Medigap insurance. You can research all Medicare supplement plans Humana offers on their website by entering your ZIP code, and you can buy a plan directly off the site or from a local agent.

    Now the third-largest health insurance provider in the U.S., Humana was founded in 1961 by David A. Jones, Sr. The company started as Extendicare nursing homes then transitioned into hospitals. Twenty years later, Humana joined the health insurance industry, and by the 1990s, the company left the hospitalization sector altogether. Today, the company offers Medicare supplement policies, Medicare Advantage plans, and Part D coverage as well as dental, vision, prescription drug plans, Medicaid and group insurance.

    Getting around Humana's website to learn about Medicare supplement insurance options and check rates is a simple process. We found competitive prices and did not have to enter any personal information to see quotes.

    Humana is a solid company to start your Medicare supplement plan research. The website provides easy-to-understand information and pricing to take the guesswork out of your search, and you do not have to enter any personal information on the site to get quotes. You can buy a plan online or schedule an appointment with an agent in your area. Humana licensed insurance agents are also available via the phone number on the site seven days a week from 5 a.m. to 8 p.m.

    Pros

    • Easy-to-find plans based on your ZIP code and compare pricing

    • Research and buy online or meet with a local agent

    • Website offers extensive insurance information and health-related resources

    Cons

    • No messaging customer service via the customer account portal

    Humana

    4.

    ManhattanLife

  • Best for:

    Attained age pricing structure

    ManhattanLife

  • Best for convenience

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    • Coverage in all 50 states

    • 7% Household Discount

    • Attained age pricing structure

    Manhattan Life health insurance includes five out of the eleven available Medicare Supplement plans. Manhattan Life Medicare Supplement Plan G and N are available, as well as A, C, and F.

    Plan A is considered the base plan and pays for Medicare coinsurance amounts for hospital, medical, and hospice care. It also provides coverage for the first three pints of blood needed on a yearly basis.

    Each of the other plans offered includes these coverages along with additional benefits. Medicare Supplement Plan F is the most comprehensive. It covers all of the coinsurance and deductible amounts, emergency medical during foreign travel, and all other out of pocket costs not paid for under Original Medicare.

    The remaining plans are somewhere in between, with Plan N being the only option that uses copays in order to provide coverage at a more budget-friendly rate.

    Manhattan Life has a long, stable history in the insurance industry and we see nothing of concern in terms of their reputation. They offer a solid handful of Medicare Supplement plans, but we were unable to get a look at their rates. Still, for those that do not mind making phone calls to get rate quotes, this company may be worth the call.

    Pros

    • Some policies don't require a medical exam

    • Several ways to pay for your whole life insurance

    • Some policies only have four health questions

    Cons

    • No online quoting

    • Policies are sold through agents

    • Higher than average number of complaints

    ManhattanLife

    5.

    AARP

  • Best for:

    AARP

  • Best for convenience

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    Visit Site
    • Guaranteed coverage for life

    • No referrals needed to see a specialist

    • See any doctor who accepts Medicare

    AARP/UnitedHealthcare Insurance sells all eight Medicare supplement plans, plus high deductible F and G). Not all plans are available in all states, territories or counties. You can plug your Zip Code into this AARP website and determine which plans are available to you and how much each will cost.

    While price is always a big consideration when purchasing insurance, being a customer of companies that are reliable is worth a lot. Plus, in many states, AARP/UnitedHealthcare Medicare Supplement plans offer access to additional discounts and services at no extra cost, including a hearing program, 24/7 nurse line and Renew Active by UnitedHealthcare, which offers access to an extensive network of participating gyms and fitness locations.

    Pros

    • Plan Selector tool helps you choose the right plan for your needs

    • Extensive network of providers and pharmacies

    • Underwritten by UnitedHealthcare, the largest healthcare provider in the world

    Cons

    • Monthly premiums can be higher than Part C if you need a Medigap plan.

    • If you have serious medical conditions, your out-of-pocket costs could be higher (there is no out-of-pocket spending limit).

    • Separate plans to cover drug costs and other health expenses can add complexity to your health care arrangements.

    AARP

    6.

    Transamerica

  • Best for:

    Transamerica

  • Best for convenience

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    • Lifestyle support with delivered meals and home modifications

    • Aid for in-home help

    • Test the plan for three months before signing

    Despite not having decades of experience administering Medicare plans like some other carriers, Transamerica has earned a place at the table because of its reputation for great customer service. Transamerica offers Medicare Supplement plans A, F, G, K, and N in 19 states. Keep in mind that you can only purchase Plan F if you were eligible for Medicare prior to January 1, 2020. Also, not all plans are available in all areas.

    Transamerica does not provide any pricing details on its website, so discussing the full range of costs that you as a consumer are likely to be quoted is difficult. You will need to contact an agent to learn more. In the wider Medicare insurance market, most plans fall between $40-$300 per month.

    Although the company has only offered these plans since 2012, the company has over 100 years of experience in insurance and financial services, which give it ample understanding of what is important to its insured customers. For example, the quoting and enrollment processes are quick and easy.

    The company is financially sound. If you are in the market for an affordable Medicare Supplement plan, Transamerica should be on your list of contenders. Its goal is to offer some of the lowest initial rates in the market, followed by some of the lowest annual increases in the industry.

    Pros

    • Low initial premiums and low annual price increases

    • Available discounts include a pre-birthday discount if you sign up during the eligible period before your 65th birthday.

    • Instant online quoting process

    Cons

    • Limited feedback on the company

    • Pre-existing conditions' clause that mandates a 6-month waiting period before a policyholder will be covered for that pre-existing condition.

    • Not yet active in all states

    Transamerica

    7.

    State Farm

  • Best for:

    State Farm

  • Best for convenience

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    • Qualify for a Bundle Discount

    • 19,000 agents, many of whom are local

    • Not available in all 50 states

    State Farm is community-oriented and has a friendly reputation. While State Farm is best known for its auto insurance (it's the top carrier in the United States), it also offers Medicare Supplement insurance plans. Furthermore, if you love to work with companies that give back, State Farm donates hundreds of thousands of dollars in grants and volunteer hours to nonprofits, according to the company.

    Because the coverage for each Medicare Supplement is standardized in most states, you'll mostly be comparing carriers based on their premium. Your premium will vary depending on your age, gender, whether or not you smoke, and where you live.

    When you receive care, your Original Medicare coverage will pay its share first, and then your Supplement coverage will kick in. After both insurances meet their caps for their portion of coverage, you'll be responsible to pay for any remaining costs.

    One of State Farm's biggest draws is its large network of independent agents, who can offer enrollees a good amount of personalized support. State Farm agents also offer home visits, which is definitely a unique feature. You can make an appointment for an agent to visit you to help you review Medicare Supplement plans and enroll, all in one visit.

    While State Farm doesn't offer as many "extras" as other insurance carriers, the affordable price, excellent customer service, and wide selection associated with its plans could make up for this for some beneficiaries.

    Pros

    • Fast claim turnaround of 7 to 10 business days

    • Discounts on other policies, like home, life, and auto insurance, when bundled with a Medicare Supplement

    • Large network of independent agents

    Cons

    • Not all plans are offered in all 50 states

    • Premiums can increase over time

    • Average customer reviews

    State Farm

    8.

    Mutual of Omaha

  • Best for:

    Mutual of Omaha

  • Best for convenience

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    Visit Site
    • Coverage with any doctor that accepts Medicare

    • Up to 12% Household Discount

    • Quick policy issue and a 30-day trial

    Mutual of Omaha is a household name, having been in the insurance industry for nearly a century. With only three plans available for new enrollees, Mutual Omaha doesn't have as many options as other insurers. Though limited in number, the company's plans are still some of the most popular plans among Medicare beneficiaries.

    Because Medicare Supplement coverage is standardized, you'll mostly be comparing insurers based on things like cost, reputation, customer service, policy perks, and so on. These perks include broad access to providers, a policyholder's share in the savings, and the Mutually Well lifestyle program that offers exercise and nutritional aid.

    Mutual of Omaha uses attained-age pricing to determine Medigap plan premiums. This means your premium is based on your age when you sign up, then increases as you age.

    Mutual of Omaha price increases have been a sticking point with enrollees, according to customer reviews. While many insurers use attained-age pricing, some have a history of smaller rate increases than others. Mutual of Omaha's rate hikes seem to be on the higher side, with some customers reporting increases of as much as 50 percent.

    Pros

    • The most popular plans are available in every state except Massachusetts.

    • It has a simple online application process, same-day approval, and electronic delivery of temporary ID cards.

    • Premium discounts of up to 12 percent are offered to married couples when both spouses buy a plan.

    Cons

    • Some areas have experienced higher than average premium hikes in recent years.

    • Four or fewer plan types are available in most areas.

    • Rates may be higher than average for some plans.

    Mutual of Omaha

    9.

    Blue Cross Blue Shield

  • Best for:

    Blue Cross Blue Shield

  • Best for convenience

    9
    Visit Site
    • BCBS covers 1 in 3 Americans

    • No network limitations

    • Special offers and program enrollment deals

    Blue Cross Blue Shield Medicare Supplement plans are backed by a major national health insurance company with an A+ rating from A. M. Best. Plan members generally have the option to customize their coverage with additional dental and vision insurance for an extra premium. They can also potentially lower their monthly premiums with multiple premium discounts.

    The fact that the company has a large network of affiliates means that members often have access to discounts on products and services, as well as other perks.

    On the other hand, Blue Cross Blue Shield receives poor marks for response time in some areas. Some third-party review sites, such as the Better Business Bureau and Consumer Affairs, also give the company below-average ratings for customer service in certain areas. However, this is not uncommon among large, national insurance companies.

    Pros

    • Reputable company with a nationwide presence

    • Multiple plan types, including $0 premium and $0 deductible plans

    • Extra benefits available for vision and dental; most plans include fitness benefits

    Cons

    • Medicare Advantage not available in all states

    • In some states, Blue Cross Blue Shield gets below average marks for customer service

    • Part D prescription drug coverage not included in all Medicare Advantage plans

    Blue Cross Blue Shield

    10.

    Combined Insurance

  • Best for:

    Combined Insurance

  • Best for convenience

    10
    Visit Site
    • Immediate coverage for pre-existing conditions

    • No Claim Forms

    • Visit any doctor that accepts Medicare

    Combined focuses solely on supplemental health insurance plans, writing them for both individuals and for employers as employee benefits. Their policies include accident and critical illness insurance as well as income protection coverage. The main Combined site makes no mention of Medicare Supplement insurance, although a search finds it listed on a separate extension of the site. We found it odd that this section of the site appears to have no link from the main site and can be found only through a specific search.

    While we did find the page that mentions Medicare Supplement insurance, it is not particularly informative.

    A list of which policies are available is not offered, the site simply directs visitors to contact an agent for more information. There is a form that can be filled out to request more information.

    The site says that plan options vary by state and that coverage is not offered in all states. Beyond some general information on what Medicare Supplement is, there is not really much else to be learned from the website.

    Since all Medicare Supplement companies are required to carry Plan A, the base plan, in states where the letter-coded system is in use, we can assume Combined does offer this option. They are also required to offer either Plan C or F, so there may be a Combined Insurance Medicare supplement Plan F, but we are unable to guess which of these they have available.

    There simply is not enough information on Combined's Medicare policies to provide any sort of solid opinion on this company. The fact that Medicare information is difficult to find from the company's main page suggests it is not a product line of major importance to this company. Those shopping for Supplement coverage might have better luck elsewhere as there are other sites that offer more information about their offerings.

    Pros

    • Supplemental plans are affordable

    Cons

    • Difficult to locate details of policies

    • Must contact an agent to discuss

    Combined Insurance

    Compare Best Services 1. CignaCigna Competitive Rates View Plans 2. Banker's FidelityBanker's Fidelity No pre-existing condition waiting period View Plans 3. HumanaHumana Potential for no out of pocket costs for hospital care View Plans 4. ManhattanLifeManhattanLife Attained age pricing structure View Plans 5. AARPAARP View Plans 6. TransamericaTransamerica View Plans 7. State FarmState Farm View Plans 8. Mutual of OmahaMutual of Omaha View Plans 9. Blue Cross Blue ShieldBlue Cross Blue Shield View Plans 10. Combined InsuranceCombined Insurance View Plans
    Reviews 1248 reviews 1034 reviews 934 reviews 865 reviews 698 reviews 697 reviews 976 reviews 755 reviews 876 reviews 797 reviews
    Online Quote Process Easy Easy Easy Easy Medium Difficulty Medium Difficulty Difficult Difficult Difficult Difficult
    Customer Support Above Average Average Above Average Average Slightly Below Average Average Average Average Below Average Below Average

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