Comparing Plans

The 5 Qualities Shared By Top Medicare Supplement Insurance Companies

As you look for the top Medicare Supplement Insurance companies in your area, look for these 5 traits and find the right plan for you.

Are you shopping for a Medicare Supplement Insurance plan (also called Medigap)? As you evaluate Medigap plans provided by various insurance companies, it’s important to evaluate each insurance company to determine if they provide the types of coverage you need.

If you’re ready to learn more about Medicare Supplement Insurance companies in your area, visit MedicareSupplement.com today!

Here are five characteristics you can consider looking for as you evaluate Medicare Supplement Insurance companies.

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1. Is the company easily accessible?

The top Medicare Supplement Insurance companies will likely make their licensed insurance agents readily accessible by phone at extended hours (or even 24 hours a day, in some cases).

If you do call, how is the experience? Are you are greeted by a friendly and knowledgeable licensed insurance agent who is willing to help answer your questions?

If good customer service is important to you, this could affect your choice of Medigap plan provider.

2. Do they have a proven history?

It can sometimes take a long time for an insurance company to earn a reputation as one of the most trusted and reliable insurance providers in their area.

An insurance company that has been around for a long time may have the experience and the financial strength that some beneficiaries prefer.

3. Does the company have solid ratings?

The Better Business Bureau, Moody’s, Fitch and Standard & Poor’s are among some of the agencies that consumers like you can rely on for ratings and company information.

You might consider a provider to be a top Medicare Supplement Insurance company if they have top ratings from these agencies and strong customer reviews.

4. Do they offer competitive rates?

Medicare Supplement Insurance plan premiums are not standardized, which means each insurance company may set its own rates for premiums.

If value is important in your Medigap plan considerations, you might look for a Medicare Supplement Insurance provider that offers comparably low rates and discounts, if available.

5. Do they provide personalized services?

Medicare Supplement Insurance plans are standardized by the federal government in terms of the benefits that are offered by each plan. But this doesn’t mean Medigap is a one-size-fits-all insurance product.

Take the time to discuss your health care needs with your insurance agent so they can help you find the Medicare Supplement Insurance plan that best fits those needs.

Click here to view enlarged chart Scroll to the right to continue reading the chart
Medicare Supplement Benefits A B C* D F1* G1 K2 L3 M N4
Part A coinsurance and hospital coverage                    
Part B coinsurance or copayment             50% 75%    
Part A hospice care coinsurance or copayment             50% 75%    
First 3 pints of blood             50% 75%    
Skilled nursing facility coinsurance             50% 75%    
Part A deductible             50% 75% 50%  
Part B deductible                    
Part B excess charges                    
Foreign travel emergency     80% 80% 80% 80%     80% 80%
* Plan F and Plan C are not available to Medicare beneficiaries who became eligible for Medicare on or after January 1, 2020. If you became eligible for Medicare before 2020,... you may still be able to enroll in Plan F or Plan C as long as they are available in your area.

1 Plans F and G offer high-deductible plans that each have an annual deductible of $2,370 in 2021. Once the annual deductible is met, the plan pays 100% of covered services for the rest of the year. The high-deductible Plan F is not available to new beneficiaries who became eligible for Medicare on or after January 1, 2020.

2 Plan K has an out-of-pocket yearly limit of $6,220 in 2021. After you pay the out-of-pocket yearly limit and yearly Part B deductible, it pays 100% of covered services for the rest of the calendar year.

3 Plan L has an out-of-pocket yearly limit of $3,110 in 2021. After you pay the out-of-pocket yearly limit and yearly Part B deductible, it pays 100% of covered services for the rest of the calendar year.

4 Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to $50 copayment for emergency room visits that don’t result in an inpatient admission.
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Finding the right Medigap plan for you

Identifying the top Medicare Supplement Insurance companies is only half the battle. You also need to find the best Medigap plan for your needs.

This involves securing a plan that services the area in which you live, is affordable for your budget and provides the benefits you need most.

Get started finding the right Medicare Supplement Insurance plan for your needs by visiting MedicareSupplement.com today!

Learn more about Medigap plans in your area

Visit MedicareSupplement.com
Christian

About the author

Christian Worstell is a licensed insurance agent and a Senior Staff Writer for MedicareAdvantage.com. He is passionate about helping people navigate the complexities of Medicare and understand their coverage options.

His work has been featured in outlets such as Vox, MSN, and The Washington Post, and he is a frequent contributor to health care and finance blogs.

Christian is a graduate of Shippensburg University with a bachelor’s degree in journalism. He currently lives in Raleigh, NC.

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