In 2016, there were 271 different insurance companies across the U.S. that had at least one standardized Medicare Supplement Insurance (Medigap) plan available.1
So how do you compare Medicare Supplement Insurance companies? How do you find a Medigap plan that fits your needs?
The federal government issues star ratings2 for Medicare Advantage plans and Medicare Part D Prescription Drug plans, but not for Medicare Supplement Insurance companies.
This guide outlines several ways you can learn more about Medicare Supplement Insurance companies, including their financial and industry ratings. You can also get help exploring Medigap plan options where you live with the help of a licensed insurance agent.
Independent rating agencies regularly publish ratings and scores for the financial strength of various insurance companies.
Some of the more popular rating agencies include:
These ratings can be quite valuable to consumers, as they indicate the financial strength and stability of a Medicare Supplement Insurance company.
Most of the information these rating agencies provide is free and can be accessed online.
Business review websites often provide ratings for a variety of metrics that can be used to a shopper’s advantage.
Some of these organizations include information from consumers and industry experts, such as:
If you find a Medicare Supplement Insurance company that has strong customer reviews, you might choose to look for a plan from that company if they sell plans in your area.
There are likely one or more insurance companies that sell Medicare Supplement Insurance plans in your area.
A licensed insurance agent can let you know which insurance companies provide plans in your area and help you explore details such as plan costs and coverage.
Because plan selection can vary from one company to another, it’s important to remember that the right insurance company for you may be different than the right one for someone else, depending on your coverage needs and budget.
Learn about Medigap plans in your areaVisit MedicareSupplement.com
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1 AHIP. The State of Medigap 2018. (June, 2018). Retrieved from www.ahip.org/wp-content/uploads/2018/06/State_of_Medigap18_FINAL.pdf.
2 Every year, Medicare evaluates plans based on a 5-star rating system.
MedicareAdvantage.com is a website owned and operated by TZ Insurance Solutions LLC. TZ Insurance Solutions LLC and TruBridge, Inc. represent Medicare Advantage Organizations and Prescription Drug Plans having Medicare contracts; enrollment in any plan depends upon contract renewal.
Plan availability varies by region and state. For a complete list of available plans, please contact 1-800-MEDICARE (TTY users should call 1-877-486-2048), 24 hours a day/7 days a week or consult www.medicare.gov.
Medicare has neither reviewed nor endorsed this information.
MedicareSupplement.com is owned and operated by TZ Insurance Solutions LLC. It serves as an invitation for you, the customer, to inquire about further information regarding Medicare Supplement Insurance. TZ Insurance Solutions LLC and the licensed insurance agents who may call you are not connected with or endorsed by the U.S. Government or the federal Medicare program. Medicare has neither reviewed nor endorsed the information contained on MedicareSupplement.com.