While Medicare is an excellent government program helping seniors attain affordable, medical coverage, there are a few pitfalls of the program.
Uncovered expenses is one of the largest pitfalls within Medicare. Those coverage gaps can leave enrollees with massive health care bills placing a strain on their savings account. Luckily, you have some options to mitigate the uncovered procedures.
Purchasing a Medicare supplement plan is a great way to offset uncovered expenses.
Owned by private insurance businesses, they supplement traditional Medicare coverage by filling in where Medicare stops paying.
When you’re shopping for additional coverage, there are several important factors to consider. We’ve narrowed down those factors to the following two:
- which plan you’re going to buy
- which company that you’re going to buy it from.
With the bounty of companies on the market, finding the best plan for you may seem like a daunting task.
This is why we’ve put together a comprehensive list of the best Medigap plans for you.
10 Best Medicare Supplement Companies
Here are the top 10 providers of the best medicare supplement plans in 2020:
- United Health Care
- American Continental
- Colonial Penn
- New Era
- Manhattan Life
- Mutual of Omaha
Aetna is one of the most popular Medigap companies on the market. With millions of customers across the nation, they’ve proven they are capable and stable. Not only do they hold an A rating from >A.M.Best, they also offer several unique advantages.
As a customer, you offer a discount for fitness programs and a household discount–both can significantly reduce your premiums. Aetna offers G and N in the majority of states and a 12-month rate lock with a 30 day free look period.
Learn More: Read our Aetna Review.
Gerber isn’t a company just for children. They hold over 3 million policies between their life insurance and Medigap plan options.
They offer every plan option, but one thing to be wary of when you’re shopping with Gerber is that their prices are not always the best. It depends on the type of policy that you’re buying and which state that you live in.
Gerber also boasts an A rating from AM best.
Have questions about your coverage? Gerber is known for its excellent customer service.
Learn More: Read our Gerber Review.
United Health Care
United Health Care is co-branded with AARP to provide seniors with Medigap plans. They have an A rating from the third-party companies.
Much like the Gerber supplemental plans, they are a great, reliable company. Their prices aren’t always competitive, but do offer a great option for Medigap coverage.
Learn More: Read our United Health Care Review.
As a company, Continental is based in Brentwood, Tennessee and they were established in 2005. That makes them one of the youngest companies on our list, but, don’t discount them due to their age.
In 2012, they were acquired by Aetna, which is one of the largest. Although they are a subsidiary of Aetna, they still have great rates and excellent customer service that is separate from their parent company.
Learn More: Read our Continental Life Review.
Cigna is a massive company that is mostly known for their health insurance and life insurance plans. They have over 15 million customers across the globe.
Aside from both health and life insurance, they also have Medigap plans to supplement your traditional Medicare plan.
If you’re looking for a good all-around insurance company, Cigna is a great place to start your search. They have good rates and excellent customer service.
They are also quick to pay claims and answer any questions that you may have about your plan.
Learn More: Read our Cigna Review.
The company was founded in 1870, which means they have years and years of experience providing quality insurance coverage.
Colonial Penn offers every Medigap plan is in just about every state. Unlike some companies, you won’t have to worry about not having every possible option.
If you’re looking for a stable company that you don’t have to worry about, Colonial Penn is an excellent option. Not only have they been around for more than 140 years, but they also have an A- rating from several of the rating systems.
Learn More: Read our Colonial Penn Review.
Each of these plans has different advantages and costs that you will need to compare before you pick the one that works best for you. New Era also has a few benefits that they offer their customers.
They have a stable rate history, 30-day free look period, and guaranteed renewable for life.
Learn More: Read our New Era Review.
With Transamerica, you’re going to be limited on your options, or you may not even be able to purchase one of their plans depending on which state that you live in.
Transamerica offers A, F, G, and N in 10 different states across the country. They don’t have the most options, but they are worth a look when you’re shopping for coverage.
Learn More: Read our Transamerica Review.
They offer both life and supplemental insurance coverage with some of the most competitive rates on the market.
They are not always going to be the cheapest, but they are always close.
Learn More: Read our Manhattan Life Review.
Mutual of Omaha
You’ve probably heard of Mutual of Omaha, and you’re probably familiar with some of their other insurance products.
Not only do they have supplemental coverage, but they also offer health and accident products for individual and groups.
They stand apart fro mother by offering the following benefits:
- 12% household discount
- no policy fees
- guaranteed renewable coverage
- 30 day free look period
…along with many others.
Learn More: Read our Mutual of Omaha Review.
You’ve worked hard to retire.
Unfortunately rising health care costs could dig in significantly to your hard earned nest egg. By comparing all the available options, you can protect that retirement dream by adding the additional healthcare coverage you need. Through working with our independents, you open the doors to several highly rated company options.
Other Company Reviews Available
- Aflac Company Review
- American National Life Insurance Company of Texas Review
- American Republic Corp Insurance Company
- Americo Financial Life and Annuity Insurance Company Review
- Bankers Fidelity Assurance Company Review
- Blue Cross Blue Shield Medicare Plans Review
- Central States Indemnity Company of Omaha Review
- Christian Fidelity Life Insurance Company Review
- Combined Insurance Company of America Review
- Equitable Life and Casualty Company Review
- Everest Reinsurance Company Review
- Globe Life and Accident Insurance Company Review
- GPM Health and Life Insurance Company Review
- Greek Catholic Union of the USA Review
- Guarantee Trust Life Insurance Company Review
- Health Net Life Insurance Company Review
- Heartland National Company Review
- Humana Company Review
- Individual Assurance Company, Life, Health and Accident Review
- Liberty Bankers Life Insurance Company Review
- Liberty National Company Review
- Loyal American Medicare Supplement Review
- Loyal Christian Benefit Association Review
- Medico Company Review
- Members Health Insurance Company Review
- Omaha Insurance Company Review
- Philadelphia American Company Review
- State Farm Company Review
- Sterling Company Review
- Thrivent Financial Company Review