Top 7 Medicare Supplement Companies

Medicare Supplement Companies

If you’re a senior required to pay for the things left by original Medicare coverage, you know the medical bills can amass quickly. Medicare Supplement insurance is meant to help you with medical expenses where Original Medicare ends. 

At Bobby Brock Insurance, we work with a mix of established and emerging companies to help you find the right supplement plan. We’ve based our list of the top seven Medicare Supplement Insurance companies on these variables:

• Financial rating
• Company size and history
• How many Medigap plans it sells
• Where it sells them (in which states)

Note: These are listed in no particular order. 

Aetna

The name “Aetna” is based on Mount Etna, an active stratovolcano in Europe. Founded in 1853 in Hartford, CT, Aetna is known for delivering stability to its policyholders. Depending on which policy you select, their Medicare supplements have plenty to offer. 

All Aetna supplement insurance policies have some standard features, including:

• A 12-month rate lock – no rate increases during your first year
• 30-day Free Look Period – cancel for any reason in the first 30 days for a full refund
• Widespread coverage – policies operate anywhere in the nation
• Household discounts in certain areas – rebate for two people in the household
• The policy is guaranteed renewable – can’t be canceled for health conditions

If you’re enrolled in both Medicare Part A and B, you’re eligible for any of the six Aetna Medigap plans — F, G, K, L, M, and N. 

Mutual of Omaha

Founded in 1909, Mutual of Omaha is another company with a rich history. They were one of the first carriers to offer Medicare supplement plans, and today, they’re one of the largest Medigap insurance providers in the country.

When you enroll in a Medigap plan with Mutual of Omaha, you’ll get the same standard coverage that any supplement policy provides, including:

• Nationwide coverage
• Guaranteed renewable
• A free look period of 30 days

Additionally, the carrier offers these unique features:

• Up to 12% household discounts — varies by state
• A fast and free application process 
• An electronic delivery of temporary ID card if needed

Many Medicare recipients enjoy the peace of mind that comes with choosing a major A-rated insurance company like Mutual of Omaha. They have many subsidiary companies, so your policy could be issued under the name “United of Omaha” — depending on where you live.

Cigna 

Cigna has been around since 1982. They offer competitive monthly premiums in many states, which makes them a lead choice for Medigap plans. Like all Medicare supplement companies, Cigna policies:

• Help pay for your hospital and outpatient deductibles, copays, and coinsurance
• Allow you to see any doctor that accepts Medicare
• Are guaranteed renewable  

Cigna also offers enrollees the following benefits:

• First-rate service
• A household premium discount of 7% 
• An easy experience through an online member portal
• A Healthy Rewards Program — which can earn you even more savings! 

If you’re looking for an excellent discount for couples, consider Cigna for Medicare supplement insurance. Sometimes they sell their Medigap policies under subsidiary carriers, like CHLIC, American Retirement Life, or Loyal American. Don’t worry; it’s still the same tribe of companies.

Humana

Headquartered in Louisville, KY, Humana is licensed to sell Medicare supplements in 45 states, plus Washington D.C.

The company has gained notoriety by providing reliable coverage for all types of users, including military members, seniors, and families. 

It sells eight different Medigap plans:  A, B, C, F, G, K, L, and N — plus the high-deductible Plan F. Note that not all plans are available in all states. 

Other reasons to consider Humana are:

• Been in business for almost 60 years
• Competitive monthly premium pricing
• Offers an array of discounts and perks

If you’re looking for a company with a solid track record and the best all-around coverage, go with Humana. 

Bankers Fidelity

Headquartered in Atlanta, GA, Bankers Fidelity has been helping seniors with their insurance since 1955. This company is licensed in 46 states and sells eight different Medigap plans: A, B, F, G, K, L, M, and N. They have a strong A- rating with A.M. Best. 

Bankers Fidelity Medicare supplement plans all provide the standard Medigap features, like universal access to Medicare providers. They also offer:

• Guaranteed renewable coverage 
• No pre-existing condition waiting periods

Available policies, coverage, and options may differ by state. Many folks like to use their policyholder portal to analyze policy info, check claims status, and obtain other customer benefits.

If you’re seeking a carrier with innovative products, excellent customer service, and decades of experience helping seniors, refer to Bankers Fidelity for your Medigap needs.

Manhattan Life

Founded in 1850, Manhattan Life is one of America’s oldest and most dependable health insurance carriers. The company is a subsidiary of Manhattan Life Group in Houston, TX. 

They have attained a B+ rating with A.M. Best, and they offer Medigap plans A, C, F, G, and N in most states. Manhattan Life understands that discounts are always valued when it comes to insurance policies. On their Medicare supplements, they offer:

• A 7% household discount — just for having a roommate. You can apply for this discount if you live with someone and you both are 60 or older.

In addition to Medigap policies, Manhattan offers dental, vision, and hearing plans that let you select your own providers. If you appreciate Medicare discounts and want a carrier with unrivaled stability, choose Manhattan Life. 

AARP

The American Association of Retired Persons (AARP) was founded in 1958 to improve seniors’ quality of life. The organization endorses Medicare Supplement plans from UnitedHealthcare. Today, over 4 million people choose AARP as their Medigap insurance provider. The most competitive states for the carrier’s supplement plans include:

• Ohio
• Texas
• Arizona
• Michigan
• California   
• New York
• New Jersey
• Pennsylvania

If you live in one of these states, consider AARP when you search for a Medigap policy. Available plan options are A, B, C, F, G, K, L, and N. You can select the policy that best meets your budget and medical needs. 

Additionally, some of their supplemental insurance plans offer extra benefits, like a free Silver Sneakers membership when you join.

Bobby Brock Insurance Can Help

A Medicare supplement insurance policy from any of these companies can help reduce your out-of-pocket medical costs and protect you if health problems emerge. You can also pick your doctor and go to any hospital without a referral. 

At Bobby Brock Insurance, we have trained agents ready to help you. We can provide quotes from different carriers and help you compare Medicare supplement plans and prices. Call us today at (662) 844-3300.