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Medicare Supplement Insurance Companies

Medicare Supplement Insurance Companies

Medicare supplements are offered through private insurance companies, some better than others. Here is an explanation of this and some of your best Medicare supplement insurance companies and options.

How to Compare Supplement Plans and Companies

When choosing a supplement plan, you have to know the coverage you need and how much you are willing to pay for it. The more benefits included in a plan, the more, of course, it will cost. For example, supplement plan F provides the most coverage but also costs the most.

Once you have an idea of the plan you’re looking for, you can begin searching for a company that offers said plan at a competitive price. Not all providers have every supplement plan, so that will be one of the earliest determining factors in your decision.

The next factor, then, is the quality of the company itself. There are many great options out there, but most companies have one thing that they do really well. It is this “star-factor” that will be one of the final determinations.

Here are some of the biggest supplement insurance companies out there and their “star-factors.”

Flexible Options: Aetna

Aetna is one of the longest-standing companies out there. When you purchase a supplement with them, you’re buying years of industry expertise, experience, and stability.

In terms of available plans, Aetna has some of the most, including plans A, B, C, D, F, G, and N. While it can be difficult to get a price estimate on their website, they clearly describe all of the benefits and plan availability.

User-Friendly: Cigna

Cigna has some of the best customer service on the market, with a 24/7 health information line staffed by trained nurses. It also offers a very positive mobile app and overall online experience.

This company offers plans A, F, a high-deductible F, G, and N. They offer training videos, easy comparison charts, and more to make your experience as smooth as possible.

Wide Availability: Mutual of Omaha

Mutual of Omaha has dealt with Medicare since the beginning, so they know the system inside-and-out. They provide an excellent, easy-to-navigate website. As far as prices, they are ranked by AM Best at A+ for financial health.

Compared to other companies, Mutual of Omaha is one of the most widely available. This is because they have subsidiaries across the U.S.—don’t worry, however, these subsidiaries are just as strong as the main parent company.

Popularity: Blue Cross Blue Shield

Similar to Aetna, Blue Cross Blue Shield offers 7 plans—A, F, high-deductible plan F, G, K, L, N, K, and L. And, once enrolled, members have access to 24/7 policy information.

Nearly 1 in 3 Americans are covered by Blue Cross Blue Shield, making it one of the most common, most popular companies on the market.

Medicare Supplement Insurance Carriers Video Transcript

Medicare Supplement Insurance Carriers

Medicare Insurance Plans - what are they? Is it something that would benefit you?

Let's go ahead and take a look!

Sean Brady here with My Healthcare Direct. My team and I are on a mission to help as many seniors as possible… educate them on Medicare… what it is, what it is not… and just try to help them as best that we can to explain their situation and how we can help them.

What are Medicare Supplements?

Medicare Supplements are a private insurance that covers what original Medicare does not. Original Medicare that covers 80% of your costs, and with a Medicare Supplement depending on which one you can subsidize those costs and in some cases pay for all of the costs, and so that's what a Medicare Supplement does.

It takes over the cost and the burden for what original Medicare does not.

Some Things to consider and understand

One, they are a private insurance that helps and works alongside your original Medicare now with original Medicare included you can still go to all the doctors and hospitals that accept

original Medicare. So that's one of the strong benefits of having a Medicare Supplement. Now, the other thing to understand is their standardized plans, meaning, let's say you go with XYZ carrier for Plan G versus ABC carrier for Plan G. Well, the benefits are going to be exactly the same, 100% identical. The only difference is going to be the cost. It's also going to be, you know, which company you're working with.

  • How is their customer service?
  • How is their efficiency?
  • Are they on the ball? 

That kind of stuff, those are the things that you're going to want to consider. And we're going to go over a little bit of that today.

Which Insurance Carriers offer Medicare Supplements?

Well, there's quite a few, and we've only listed some of the major ones that you may have heard of. There's a lot more that are maybe smaller, and we work with many of those as well. But here, just some of the major ones:

  • Aetna
  • United American
  • Humana
  • United Healthcare 
  • AARP
  • Cigna 
  • Mutual of Omaha 

These are all carriers that we work with, and we have a good relationship with. We're not biased to any one carrier or the other. Just so we're clear, we're independent insurance agents. That means we're not “captive,” we don't work for just one carrier and we have to sell their products.

That's not what we do. We partner with all of them as a broker, as an independent insurance

agent, so that we can offer all the plans to you.

So whatever the best plan would be for your situation, that's what we want to be in the position to offer you, and that's what we do.

Other Things to Take a Look at with Insurance Carriers

Number one, it's going to be the premium, that's what you're going to want to look

for: How much is the cost?

You could have an XYZ small no-name insurance Medicare Supplement carrier who's offering a very low affordable premium price for their Medicare Supplement. But if you've never heard of them and they have a very small, you know, following in their risk pool, it may not be the best fit for you. And that's something that you probably wouldn't know normally.

But with our rating tools, we're able to look up and specifically see:

  • Is there any history of rate increases?
  • What is the stability of this plan with this company?
  • What is their financial rating?
  • Are they AAA-rated?

These are all things that we dive into and, at the very least, make you aware, so that you fully understand, which plan and which carrier you're getting yourself into and what their history and what they've done in the past, to give you an idea of what to expect if you enroll with them.

So, that's a little bit of Medicare insurance, Medicare Supplement in a nutshell. So, when you get a chance, if you have any questions, feel free to give us a call. That's what we're here for. We'll be glad to answer any questions you have, and we look forward to talking with you soon.

We can help!

Easily Compare Insurance Companies with My Healthcare Direct

These are only a few of the many insurance companies in the insurance market. When you are choosing a supplement plan and provider, you want to make sure you are choosing the best one for you, and can effectively get through the enrollment process.

My Healthcare Direct can help. If you’re ready to get started, give us a call today at (888) 959-1028.