Most of us should enroll in Medicare as soon as we can — which is around age 65. Depending on your plan, the program can cover your health care costs, preventative services, and prescription drug coverage.
However, Medicare doesn’t cover all healthcare expenses.
For instance, Medicare Part A covers 80% of skilled nursing facilities, hospital care, and hospice fees. On the flip side, Medicare Part B covers 80% of necessary medical equipment and outpatient care.
For the 20% gap that Original Medicare leaves, you can buy Medigap (Medicare Supplement insurance) or Medicare Advantage Plan from a private carrier. The Medigap plan will cover costs such as:
- Medicare Part A coinsurance and hospital cost
- Medicare Part B coinsurance and copayment
- Foreign travel exchange (not available in Medigap Plans A, B, K, and L)
- Medicare Part B excess charge (only available in Medigap Plans F and G)
- Blood (first three pints)
- Skilled facility coinsurance (unavailable in Plans A and B)
- Medicare Part B deductibles
- Medicare Part A hospice care coinsurance
However, Medigap carriers vary in terms of plans they offer, premium prices, states they serve, customer services, and extra perks they offer.
To help you distinguish Medigap carriers, the Florida Medicare Expert analyzed data on the nationwide U.S. insurance companies, examined the number of Medigap plans they offer, and checked how they ranked regarding their financial health. And here are how the best 5 Medigap Carriers compare.
Humana
Standout Features
- Offers coverage in 49 states
- Presents ten types of Medigap plans
- Plans can include extra benefits beyond what the federal Medicare program requires
Why We Rank Humana Medigap Policy at The Top Position
On the Fortune 500 list, Humana ranks 40. The carrier is one of the largest health insurance providers in the United States, providing Medigap coverage for all states except Virginia. Besides the wide range of Medigap plan offerings, you can get plenty of membership perks like SilverSneaker, meal delivery, and a 6% enrollment discount.
The carrier’s Medigap coverage stretches beyond what regulatory bodies demand from Medicare Supplement. For instance, you can get sharing options for dental and vision care. However, its premium prices tend to be higher than competitors, and its customers appear to file more complaints.
Pros
- A- rating from A.M. Best in 2022
- Provides Part D Medigap policy for prescription drugs
- Offers dental and vision Medicare benefits
- Live chat support
Cons
- Customers file more complaints than competitors
- Medigap plans are unavailable in Virginia
- Worse than average pricing for Plan G
Enrolling in Humana online guarantees a 6% discount on your monthly premium.
Blue Cross Blue Shield
Standout Features
- Offers Medigap coverage in all 50 states
- Delivers ten types of Medigap policies
- Some Medigap plans exceed regulatory requirements
- Inexpensive hearing, vision, and dental coverage
Why Blue Cross Blue Shield Medicare Supplement Insurance Plans Ranked Second
The Medigap cover that Blue Cross Blue Shield (BCBS) provides can vary from state to state because it’s a collection of 34 independent and locally operated companies. However, you’ll get every type of Medigap plan in at least one location across the country.
All tts companies cover approximately 3.6 million Medigap beneficiaries nationwide.
More importantly, several Medigap plans from (BCBS) include benefits beyond what regulations demand, such as fitness membership, discount programs, and more.
Pros
- Received an A-rating from A.M Best in 2022
- Delivers Part D coverage for prescription drug
- Offers Medigap plans in Washington, D.C., and Puerto Rico
- Extensive discount program
Cons
- Inconsistent customer experience because of different companies offering the cover
- All types of Medigap plans aren’t available in every area
To understand what it would be like to work with Blue Cross Blue Shield, connect with a specific company that services your area.
Mutual of Omaha
Standout Features
- Offers coverage in 49 states
- Present only six types of Medicare supplement insurance plans
- Plans can include extra benefits beyond federal government requirementd
Why Mutual Omaha Ranks 3rd
Mutual Omaha has been in business for over 100 years, offering U.S. adults coverage with their Medigap plan and other types of insurance.
Unlike its competitors, you’ll find everything you need to know about plans on Mutual Omaha’s website in a clear and easy-to-understand way. As a result, you’ll have an easy enrollment.
If you prefer face-to-face enrollment, you can contact the insurance company agency in your area, get a free quote, and apply for a Medigap.
Pros
- Received A+ rating from A.M Best in 2022
- Provides Part D coverage (for prescription drugs)
- Offers dental benefits reducing out-of-pocket costs
- Presents an affordable, highly-deductible Medigap Plan G
Cons
- You won’t find all types of Medigap plans
- Unavailable in Massachusetts
- Customer Support is only available during business hours only
Many customers reviews point out the quality of customer services, overall satisfaction with coverage, and fast claim fulfillment. According to the company, Mutual of Omaha pays 98% of Medicate claims within 12 hours.
Cigna
Standout Features
- Offers Medigap coverage in 48 states
- Present six types of Medicare supplement plans
- Plans can include extra benefits beyond regulatory requirements
Why Cigna’s Medicare Supplement Insurance Ranks 4th in Medigap Policy
Cigna has withstood the test of time in the insurance world for over 200 years. With over 1.5 million relationships with clinics, health care providers, and facilities, Cigna’s network allows it to provide services to over 180 million customers in over 30 countries.
The carrier is known for its competitive, extra no-cost programs and reliable services. For instance, you can get free online quotes for any of Cigna’s six Medigap plans.
Pros
- A-rating from A.M. Best in 2022
- Provides Part D coverage ( for prescription drugs)
- Provides extra discount for online enrollment
Cons
- You won’t find all types of Medigap plans
- Medigap plan still unavailable in New York and Massachusetts
Cigna Medigap plan earned a 4-star rating from the CMS (Centers for Medicare and Medicaid Services) for customer satisfaction, quality preventative services, and excellent chronic condition management.
A Table Distinguishing The Top Medigap Carriers
Medigap Carrier | Ratings | Discount | Extra Features |
| Humana Offers the lowest cost, high-deductible Plan G | A- from A.M Best 2022 | 6% discount for online enrollment5% – 12% household discount and electronic payment discount | Live chat support |
| AARP Well-priced Medigap carrier for Plan G | A- from A.M Best 2022 | Multi-policy discountElectronic funds transfer discountAnnual payer discount | Online brain health program |
| Blue Cross Blue Shield Offers all Medigap plan types | A from A.M. Best 2022 | 5% multi-policy discountOther wellness discounts | Affordable vision, dental, and hearing coverage |
| Mutual Omaha The best Medigap carrier with a premium discount | A+ from A.M. Best 2022 | Discounts on fitness, hearing, and vision plan | Dental coverage available |
| Cigna Some plans of Cigna include a 24/7 health information phone line connecting you to licensed nurses | A from A.M Best 2022 | 20% premium discount & 5% when you apply online | No additional cost programs and services |
How to Pick The Best Medigap Carrier for You
The suitable Medigap carrier varies from one person to another. However, to find the perfect match, you’ll need to evaluate the carrier in terms of:
- Availability in your state
- The number of Medigap plan types they offer and if what’s available suits you
- Whether you’ll get Part D (prescription drug) coverage specifically
- Whether you can get extra coverage beyond what regulatory authorities require Medigap plans to have
- A.M best rankings in terms of financial health (which influence how reliable a carrier is when it comes to paying claims)
- Customer feedback from ranking sites like J.D. power
- Medicare supplement insurance cost to ensure compatibility with your budget
- How well do the carrier plans align with your specific healthcare needs and preferences
Final Take
At Florida Medicare Expert, we’re here to help you understand how Medigap and all its moving parts and plans work to complement the Original Medicare coverage. We’ll help you decide between Medicare Advantage Plans or Medigap since you can’t have both.
Above is just a listing of Medigap carriers. We can guide you to buy a Medigap policy that suits you best. Contact us today to get the exact Medigap quote that suits you best.
