Back in 1990, Congress passed a law the Omnibus Budget Reconciliation Act. The new law required all Medicare supplement lettered plans to conform to predetermined benefits according to the letter of the plan. This means that Medigap plans are identical from company to company. Any company that offers a Plan G or Plan N, or any lettered plan, must by law offer the exact benefits assigned to that letter by the government. This made it easier to comparison shop for the best Medicare supplement plan.
Even with a large number of companies offering identical coverage, most consumers look to the big name brands that they are familiar with – UnitedHealthcare, Aetna, Cigna, Mutual of Omaha. But there are more important factors to consider when looking for the best Medicare supplement plan for your situation. Those factors include:
- Rate stability and history of increases
- Financial ratings
- Customer service and claims departments
Recommended Well-Known Medigap Companies
Here is a listing of a few of the well-known companies we work with and recommend. Click on the link on each name for an in-depth review:
These companies spend a lot of money on advertising. You have likely seen them all over the place for years. You may have even had coverage under some of their group plans with an employer in the past.
There are many other companies that should not be overlooked when considering the best Medicare supplement plan and company. These companies are financially strong and, as mentioned before, the coverage is identical to the plans from the bigger name companies.
Recommended Lesser-Known Medigap Companies
Here are a few of the lesser-known companies we work with. We consider these to be some of the best Medicare supplement companies available, but you just may not have heard of them before. You can click on the ones with links below to see our in-depth review of those companies.
- GPM Health and Life
- American Retirement Life (owned by Cigna)
- Manhattan Life
- Western United Life (owned by Manhattan Life)
- Everest Reinsurance
- CSI Life / Central States
- New Era Life / Philadelphia Life
- American Continental (owned by Aetna)
- Continental Life (owned by Aetna)
- Loyal American (owned by Cigna)
Finding the Best Companies for Medigap
By working with an independent agency like Integrity Senior Solutions Inc, we can provide you with the A.M. Best rating of any company. We can also tell you how long each company has been in the Medicare business and what their rate history looks like. These are just a few of the factors that need to be considered when choosing the best Medicare supplement plans in your area.
We get asked often if we represent all of the available companies in a particular area. While we do offer most companies, we have found that some companies do not meet our high standards on their rate increase history or customer service. We only want the best for our customers. We are contracted with over 30 of the best Medicare supplement companies in the United States.
Many of our clients want to be sure they are using a company with great customer service. This is a legitimate concern. However, when you choose to let us help you with your enrollment – which costs you nothing – we will be here when you need help down the road. Whether you need a replacement ID card or help with a claim, or any other issue, you don’t have to call the insurance company and wait on hold. We do that for you. It is one of the many benefits of having an independent insurance agent who works for you, not the insurance company.
There are many very strong, very well-known companies that have a long history, including reasonable rate increases from year to year. If you have a history of or have been diagnosed with a chronic health condition, you will want to find a company that fits that criteria for long-term rate stability. Even if they are a few dollars more in the beginning, in the long run, it could save you substantially.
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