Here at our agency we hold New-to-Medicare webinars to teach folks the basics about how Medicare works, when to enroll, and what sort of supplement options exist in today’s marketplace. At the end of a recent webinar, one attendee asked us “Who are the top 10 Medicare supplement insurance companies?”
This question is a little tricky to answer, as the best supplemental insurance with Medicare is really whichever plan has the lowest rate and the lowest rate increase history in your area.
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After all, benefits are standardized so that the benefits for each plan letter are the same from company to company. Medicare supplement companies also pay your bills like clockwork because Medicare is the decision maker, so we never hear that any of them have slow-pay issues like the Medicare Advantage plans often do.
And if you are enrolling through Boomer Benefits, you never have to worry which insurance company has the best customer service because you won’t ever have to deal with them. We do all that for you. For free.
That being said, every year there tends to be certain carriers that become the most popular because their rates are competitive right now.
So, we’ve put together this list of the top 10 Medicare supplement insurance companies in 2019 – in no particular order. All of these Medicare supplement providers have considerable market share in certain states. They are the best rated Medicare supplement insurance companies overall at this time.
We’ll update the list as things change from year to year, so you can get a picture of who the major players are in the market at whatever time you happen to be reading this.
Top 10 Medicare Supplement Insurance Companies in 2019
- Aetna Medicare Supplements
- Cigna Medicare Supplements
- Mutual of Omaha Medicare Supplements
- Manhattan Life Medicare Supplements
- Bankers Fidelity Medicare Supplements
- Blue Cross Blue Shield Medicare Supplements
- Transamerica Medicare Supplements
- Anthem Medicare Supplements
- United Healthcare (AARP) Medicare Supplements
- Combined Medicare Supplements
Things to Know Before Comparing Medicare Supplements
As we mentioned above, Medicare supplements are standardized. This means that a Plan G from one company has the same benefits as a Plan G from another company. However, financial ratings and rate increase histories will be different. Ask your agent to help you select a company with good ratings and low rate increases. This is how you can tell the best supplemental insurance with Medicare for YOU.
Most Popular Standardized Medicare Supplement Plans
Also, you should be aware that while there are 10 different plans out there, the 3 most popular are Plans F, G and N. That’s because these offer some of the most comprehensive coverage. Most people who buy Medicare supplements do so because they want to have little or nothing out-of-pocket when they use healthcare services. So, it’s not all that surprising the three best-sellers are the 3 most comprehensive plans.
You’ll find then that Plan F usually has the highest premiums, followed by Plan G and then Plan N. While there are 7 other Medicare supplement plans for sale, we seldom get requests for them because they cover less and so beneficiaries just have less interest in them.
Upcoming Phase-Out of Plan F
Plan F is also being phased out in 2020, but ONLY for new enrollees beyond that date. People who turn 65 before January 1st, 2020, though, will always be able to buy Plan F. This means that as you review the list below, you can feel confident that buying a Plan F (or any plan) from these carriers in 2019 will provide you stable coverage.
Aetna Medicare Supplements in 2019
Aetna is one of the oldest carriers around, and this means stability. Likewise, they have been doing Medicare supplement business for over a decade. if Medigap insurance company ratings matter to you, then you can’t go wrong with Aetna. Currently they have an A rating with A.M. Best.
Conveniently, members can register for an account at the Aetna website to track their claims, request an ID card or view their policy coverage.
Cigna Medicare Supplement in 2019
Cigna has been innovating since 1982. Always offering competitive monthly premiums, Cigna is a top choice for Medicare Supplement plans. Cigna’s main priorities consist of creating an easy experience, bettering the well-being of their clients, and providing top notch service. Because of their values, Cigna has created an A rating with A.M. Best.
The MyCigna website offers similar online benefits to members as Aetna’s member portal.
Mutual of Omaha Medicare Supplements in 2019
Mutual of Omaha has some of the longest experience in Medicare Supplement plans. Since they have dealt with Medicare from the beginning, Mutual of Omaha knows and understands the system extremely well.
Another great thing about Mutual of Omaha is that they have several subsidiary companies. This means, your policy might be issued under the name United of Omaha or another subsidiary name depending on which state you live in. Don’t worry about this! The parent company is strong.
Working with a company that has additional lines of insurance can be very beneficial. Currently they have an AA- rating for A.M. Best. United of Omaha Life Insurance reviews are just as strong as those from the parent company. What’s more, our Client Service Team tells us that their customer service department is very supportive of our team when we call in to resolve client issues.
Policyholders can create a personal account at their website to pay their bill, change billing options or view the explanation of benefits for their Medicare supplement.
Manhattan Life Medicare Supplements in 2019
Discounts are always appreciated when it comes to Medicare, and Manhattan Life knows this. That’s why they offer a household discount of 7% just for having a roommate. If you live with someone and you both are sixty or older, you can apply for this discount.
In addition to supplement policies, they also have a wonderful dental, vision, and hearing plan that lets you choose your own providers. They have reached a B+ rating with A.M. Best.
Many of our policyholders use Manhattan Life’s Client Services website to view their current coverage information.
Bankers Fidelity Medicare Supplements in 2019
If you like the idea of working with a company that focuses on seniors, this is the company for you. Bankers Fidelity has over sixty years of experience of helping seniors with many parts of their insurance.
Their Medicare Supplements are some of senior’s favorite products they offer. One reason this is, is because they offer guaranteed renewable coverage. Our clients like to use their policyholder portal to review policy info, check claims status and access other customer benefits.
They come in with an A- rating with A.M. Best.
Blue Cross Blue Shield Medicare Supplements in 2019
Blue Cross Blue Shield is an established Medicare Supplement carrier. Founded in 1929, they have evolved into one of the leading insurance companies with nearly 1 in 3 Americans covered by them.
BCBS has 7 different Medigap plans. The plans are A, F, G, K, L, and N. Alternatively, they offer a high-deductible version of Plan F. As mentioned, Plans K and L are offered however, these two Medicare supplements seem to have less interest from the general majority.
Members can visit the Blue Cross website in their home to state to register for Blue Access for Members, which gives them 24/7 access to policy information.
Transamerica Medicare Supplements in 2019
If you’ve ever been to San Francisco, you’ve probably seen the Transamerica building, which has a famous silhouette against the skyline. Transamerica began in the early 1900’s and is now recognized as one the of the top U.S. life insurers. Transamerica’s financial strength ratings range from very strong to an “A+” Superior rating from A.M. Best.
A strong rating is a good indication of how well a company treats their customers. Additionally, Insure.com has recognized “Transamerica” in its “People’s Choice” award in their customer satisfaction category.
Members who register at their Customer Service Center can view or update insurance policies and print claims forms around the clock.
Anthem Medicare Supplements in 2019
Anthem Medicare supplement plans are popular in specific states listed here. They are part of Blue Cross Blue Shield, but it is important to note that Anthem’s Medicare supplements are sold separately.
Anthem has a unique offering if you choose to have your coverage through them. The popular SilverSneakers® program is a benefit they offer to their policyholders. Most states also provide you with programs you can enroll in to stay healthy and save money.
It is good to note, the company’s supplement plans are usually referred to as Anthem Medigap plans.
United Healthcare (AARP) Medicare Supplements in 2019
The top 10 Medicare supplement companies list wouldn’t be complete without UHC. They are perhaps the most widely known of the Medicare companies. While many other insurance companies offer the same standardized Medigap plans, United Healthcare Medicare Supplement plans are the only ones co-branded with a nationally known senior organization.
United Healthcare Medicare Supplement plans are some of the most popular in the nation. Many employer plans are through UHC making it possible that you’ve had them in the past. The familiarity is a reason that many choose to have their Medigap policy through United Healthcare.
Additionally, United Healthcare Medicare supplements also offer the Silver Sneakers program.
Combined Medicare Supplements in 2019
Combined Insurance may not be as well-known as some the heavy hitters in the marketplace of Medicare supplement providers, but they’ve been around since 1922 and currently have an A- rating by A.M. Best.
This carrier has offices through North America and has over 5 million supplemental insurance policies in force here. Policyholders can register for the Self-Service portal at their website to get instant access to policy information, payment history and claims data.
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A Word about Medigap Insurance Company Ratings
We get lots of questions about Medicare supplement insurance company ratings. Comparing Medicare supplements ratings is a little more difficult than it is for Medicare Advantage companies, which have an easy 5-star ratings system. With Medigap plans, you are left to compare financial ratings, and as you can see, there are a whole bunch with A and B ratings.
In asking our own clients what they most wanted to compare about the 10 best supplemental insurance companies, they have repeated told us that customer service is what they want to know about. Which Medicare supplement companies have the best customer service?
The answer is that they all have big call centers where you may find yourself on hold waiting for answers. Fortunately, if you enroll in your Medicare supplement company through Boomer Benefits, you will never have to deal with that big call center. We do it for you. For any and all issues, questions, problems, claims, or concerns, you call us, and we handle the rest. It’s the best customer service you will anywhere in the Medicare industry.
Our Video about the Top-Selling Medicare Supplements
I have found that many of our callers who are researching the top 10 Medicare supplement companies are also often trying to choose which Medigap or Medicare Supplement plan is right for them. My person top 5 Medicare supplement plans would be Plans F, G, N, C and High Deductible F. However, there is no question that Plans F and G are the most popular sellers.
In this video, I share important information about Plan F vs Plan G.
What are the best Medicare supplement companies?
This changes frequently as carriers introduce new blocks of business all the time, but for the current list, visit our post on the top 10 Medicare supplement companies.
Is Plan F the best Medicare supplement?
It is often called that, but “best” is a subjective term. It is the most comprehensive plan in that it covers both Part A and B deductibles and coinsurance so that you have nothing out of pocket for any covered services at the time of your appointments.
Plan F policies are also standardized, which means the benefits are the same from one carrier to the next.
So, when determining the best medicare supplement Plan F, you simply are looking for the Plan F policy in your area that has the lowest premiums and the lowest rate trend. Comparing Medigap insurance companies by rate increases is one of our favorite tactics here at Boomer Benefits.
Don’t forget to consider the Medigap insurance company ratings as well. You want carriers with a rating of B+ or higher.
Which Top 10 Medicare Supplement Company Should You Choose?
We hope that this overview of the top 10 Medicare supplement companies in 2019 has helped you get to know each carrier a little better. We also know that having so many great options when it comes to the best supplemental insurance companies can be overwhelming. With Medicare Supplement coverage being so similar from company to company, it’s hard sometimes hard to choose.
The best thing to do is to compare rates for the specific Medicare supplement plan you want. Then take a look at their rate increase histories to see which carriers offer you the best history of rate stability in your area.
You could call around to each company to get quotes on their plans, but that could take days! If you were to work with Boomer Benefits in picking out your supplement plan, we’d be able to pull up all of your options for you and explain each one in details. We represent all of the fantastic companies mentioned above, plus quite a few others, so you’re sure to find a company you’ll love.
Contact us today to find out which Medicare Supplement providers have competitive pricing in your area. We’ll be updating our list of Medicare supplement companies for 2019 very soon.