Top 10 Medicare Supplement Companies in 2021
Every time our clients would ask about the top 10 Medicare Supplement companies in 2021, we typically have a follow-up question. The reason for this is that the best companies will hinge on the ratings and prices they offer.
It is vital to remember, though, that just because the company you wish to sign up for is not included in our list doesn’t mean that it is not the best carrier in 2021. Keep in mind that there are various factors to consider when evaluating each company.
Remember that the benefits of Supplement plans are the same as they are standardized by Medicare. Thus, for each plan letter, it is the same from one company to another.
When choosing an insurer, you should consider the company’s variety of plans. There are countless of carriers that sell MS plans. But only a few of them offer the complete 10.
Most companies can only offer 7 plans. However, it is not the number of the list that matters. Rather, it is about the quality of plans that the carrier offers.
The companies we featured here are also available in the majority of the states. Keep in mind that not all companies are available in all places.
It is also important to look into the company’s integrity. Keep in mind that health insurance is a vital plan. Thus, you must only purchase it from a trustworthy provider. We consider the companies with a long history of offering excellent customer service. That’s why we look into the companies’ awards, BBB ratings, and customer reviews.
All of these companies have significant market share but only in some states. Overall, they got the best rating for Medicare Supplements. However, this list changes per year.
Compare Medicare Advantage 2021
What to Consider When Choosing the Right Medicare Supplement Plan for You in 2021?
Many companies sell Medicare Part D plans. Below we will highlight a few of the top ones that have a great reputation and affordable prices.
Carrier Summary
You must know that the benefits included in every Supplement plan are the same, regardless of which insurer sells it. You should also remember that there is no best plan for every senior. It always depends on your medical needs.
The most popular plan, however, is Plan F. Out of 10 Supplement plans designed by Medicare, most companies sell only 7. And out of 7 of them, only three plans are highly sought after.
The majority of seniors who wish to purchase a Supplement plan don’t want to pay a lot of out-of-pocket expenses if they undergo a healthcare procedure or service. That’s why the top three plans, F, G, and N are popular because of their comprehensive coverage.
Among the three, Plan F is the most comprehensive. But it has the highest monthly premium. The next plan with a more affordable premium is Plan G. But the cheapest among the high-coverage plans is Plan N.
The other 7 plans are rarely requested. The reason for this is that they don’t cover a lot of medical expenses. That’s why many seniors have less interest in them.
So what are the top 10 insurance companies you should consider when getting Medicare Supplement plans in 2021?
Aetna Medicare Supplements
The company offers the best customer service. It has nearly 40 million customers in the US. It has been working with the Medicare system for more than 5 decades. And it has been offering Medicare Supplement plans for more than 10 years now.
Aetna offers high deductible plans, like F, G and N. But it also includes low-deductible plans like A, B, and F. Not all of its plans are available in all states, though. You may check out its online coverage tool to find out if the plan you wish to purchase is available in your area.
If you choose this company to obtain your MS plan, then you can access its convenient online portal to track your claims. You can also view your policy, as well as make payments. Aetna’s AM Best rating is A.
Bankers Fidelity
It is a provider that focuses on seniors. Bankers Fidelity has been helping seniors since its inception 60 years ago. Many seniors favor Medicare Supplements because it can offer guaranteed renewable coverage.
Our clients here are using their online portal to check their claim status, as well as access their benefits or review their policy. Regarding its ratings, it received an A- rating from AM. Best. It is also the best insurance provider for additional insurance choices.
United Healthcare
You are likely to have heard this insurer as it is ranked number 6th on 2019 Fortune 500. It is a robust public insurance company traded on the NYSE. It received an A or Excellent rating from AM Best. It also has an A- long-term credit rating. With that in mind, UH is an excellent choice if you want a strong financial insurer.
It offers health insurance options to various small and large businesses. If you had an employer group insurance plan before, it is possible that it was from this insurance company.
To manage your health plan costs, you may visit its website. There are various perks of using UH as your insurer. For one, it offers online doctor visits benefit. In here, you can make a consultation about your condition without having to visit your doctor’s office.
Blue Cross Blue Shield (BCBS) Medicare Supplements
It is the best insurance provider for budget-conscious seniors. As one of the largest insurance companies in the US, the company has an excellent reputation in providing a comprehensive selection of coverage options at affordable rates. That’s why one in every 8 Americans would choose BCBS.
It has 7 different Medigap plans. It also offers a high-deductible version of Plan F. Plans K and L are offered. However, most of its clients opt for high deductible plans and ignore the other low coverage plans.
If you wish to know your policy information, you may visit its online portal.
Cigna
Apart from the plans, it also includes programs and benefits for all of its subscribers. The premiums and additional benefits you can get from this company are the reasons it receives an excellent overall value. AM Best’s rating for Cigna is A.
It has a website, MyCigna, where you can go to check your online benefits.
Manhattan Life MS Plans in 2021
This health insurance company offers a discount of 7% if you are living with a person who is also 60 years old or older. Both of you can apply for a discount.
The company doesn’t just offer Medicare Supplements but it also sells other lifesaving policies, like vision, dental and hearing plans. It received a B+ rating with AM Best.
Mutual of Omaha
This company is the best for Medicare experience. Since its inception in 1966, this company has been selling MS insurance. It has an excellent reputation for quality health insurance plans across the US.
The company claims that 98% of its subscribers’ Medicare claims have been paid out within 12 hours. This is an indication that the company prioritizes its customers, making it an excellent choice if you wish to obtain a Medicare Supplement policy.
It includes plans A, F, and high-deductible F, as well as G and N. It has various subsidiary companies. Thus, your policy will be issued by the subsidiary company which has a different name. But you will still get the stability of Mutual of Omaha.
AM Best gave it an A+ rating. When you sign up for an account online, you can pay your bill or change your billing options. You can also find more information about your Medicare Supplement.
Transamerica
It is one of the most trusted insurance companies in the US. As a top US life insurer, it has gained A+ superior rating from AM Best. It has over $130 billion in assets, an indication of its robust financial performance.
If you switch to this insurer without creditable insurance, then you need to wait six months to get your coverage on a pre-existing medical condition. But this rule doesn’t apply to beneficiaries living in Ohio, Texas, and Hawaii.
This insurer is also known to offer household discounts.
Anthem
It is a popular insurance company in some states. You can find the list of states here. It is a member of Blue Cross Blue Shield. However, its Medigap policies are sold separately from BCBS.
If you opt to obtain your Medigap policy from Anthem, you can avail of its unique offering. That is, you can take avail of its SilverSneakers program. It offers this program to the majority of its members. Depending on the state you live, you can avail of a program that can help you stay healthy and save money on healthcare.
Combined
It is not as well-known as other insurers mentioned above. However, it is still a reputable company that has been around since 1922. Because of how it deals with its customers regarding claims, AM Best gave this company an A- rating.
You can find this insurance company throughout North America. More than 5 million people have Combined Medicare Supplements. To get instant access to your policy, you may register for its self-service portal. On its website, you may view its payment history and data about your claims.
Compare Medicare Advantage 2021
What do the Ratings indicate?
When you review Medicare Supplements, you will find company ratings. Comparing Medigap ratings is difficult than when you compare the Medicare Advantage plans. The reason for this is that the latter has a 5-star rating system. It is an easy way to rate the plans. But Medigap plans have complicated ratings as you need to consider A and B ratings.
Most of our clients really don’t care about the ratings of the insurance companies. They simply want a company that can provide them with excellent customer service. Now, you are wondering which company offers it.
Unfortunately, all of these top 10 companies have call centers. When you call one of them, you will always be put on hold as you wait for answers. But with the use of our service, there is no need for you to deal with call center agents. If you have any questions about your claims or any issues regarding your policy, we can help you out. We will handle all questions, problems, and other concerns.
Frequently Asked Questions Regarding Medigap Policies
Which Insurance Companies That Offer Medigap Plans are the Best?
It changes frequently. The reason for this is that insurance companies have new blocks of business each time. If you wish to know more about the top 10 health insurance companies today, visit our post here.
Why Plan F is the Most Popular?
It is the most popular because it is the most comprehensive Medigap policy. Plan F can pay for Part A and B deductibles, as well as coinsurance. In that case, there are no out-of-pocket expenses that you need to deal with each time you need or undergo a medical service.
Because Plan F is standardized, the benefits are the same no matter which carrier you are using. If you wish to know which carrier offers the best Plan F, then you may consider an insurer with the lowest monthly premiums and rate trend.
But this plan is being phased out in 2021. It is only accessible by existing subscribers before the date of discontinuation. If you will turn 65 this year, then you can no longer purchase Plan F.
The good thing is that there are other options you can choose from. If you want a high-coverage plan, you can choose plans G and N. They are the hottest right now because of their comprehensive coverage with lower premiums.
Which Company to Sign Up for?
There are various insurance companies that sell Medicare Supplements. If you are not sure where to get started, you may go back and review the top 10 Medicare Supplement companies in 2021 listed above.
If it is still difficult for you to choose a carrier where you can purchase your Medigap, then make sure to give us a call. We can give you quotes on the plans you wish to purchase. You may call us today for a free consultation regarding Medicare Supplements and which carrier you must opt for in 2021.
Compare Medicare Advantage 2021
