Our reviewers evaluate products and services based on unbiased research. Top Consumer Reviews may earn money when you click on a link. Learn more about our process.
Friday, January 15th
Humana lets you compare their Medicare Supplement Plans on their website, and you can even complete your enrollment without having to work with an agent. There's even a discount for "online only" subscriptions to their coverage. We found their premiums to be much higher than their competitors', and despite a BBB rating of "A+" some brokers consider them to be less reliable than other insurers.
As a division of LendingTree, Medicare-Plans ought to be a strong option among providers offering quotes for Medicare Supplemental Plans. However, their website doesn't offer much information, and you might get a rep on the phone who doesn't know much about the plans available in your state. Also, unlike many similar insurance brokers, Medicare-Plans doesn't give you any follow-up or support once you've selected your coverage and paid your premiums.
If you or a loved one is approaching the age of 65, or will be qualified for Medicare Parts A and B soon for another reason, it's the ideal time to start shopping around for supplemental coverage.
You are probably already aware that your Medicare insurance pays for most of your costs - but not all. That's why Medicare Supplement plans are often known as "Medigap": they close the distance between the 80% that's covered and the 20% that isn't, so that you have fewer or no out-of-pocket costs.
Medicare Supplement Plans are given letter names, so it can be easy to wind up confused. Plus, plans and their coverage are always changing. For example, Plan F was considered the go-to package, but it was discontinued for anyone starting coverage after January 1, 2020. Its replacement at the time, Plan G, offered similar benefits - fully covering that extra 20% and more - but added an annual deductible to the equation.
Another factor to keep in mind is the "guaranteed issue period". For the six months following your 65th birthday, you can get a Medicare Supplement Plan with no requirements beyond paying your premiums. By law, you can't be excluded for any health conditions, although your premiums will be higher if you're a smoker. But, once that grace period concludes, insurers can require more detailed information about your health conditions such as diabetes or heart conditions, and you can expect your premiums and available plans to change accordingly.
When buying a Medicare Supplement Plan, you have two basic routes: buy directly from an insurance company or go through a broker. Going to an insurance company you already trust can be an appealing option. You'll typically find the best rates for that particular insurer. On the other hand, using a broker often gives you access to not just your favorite insurance company but many others. So, with one process you can get the best rates from a number of providers at the same time - including that rate you got when you contacted the insurance company directly.
Whether you decide to use a broker or to buy directly from an insurance company, it's wise to do your research beforehand. The last thing you want is for an eager rep to steer you towards a plan that doesn't fit your needs, so take the time to browse several providers' websites before getting in touch. However, because Medicare rules state that all plans have to be sold in person or on the phone, you'll eventually have to speak with someone to finalize your Medicare Supplement Plan.
TopConsumerReviews.com has reviewed and ranked the best Medicare Supplement Plans available today. We hope our in-depth evaluations help you save time and money by giving you the information you need to choose the best provider and plan for your needs!
Select any 2 Medicare Supplement Plans to compare them head to head
Medicare for All? The better route to universal coverage would be ...
There’s a better system out there—and for more than two decades, it has successfully relied on public-private partnerships to expand access to care, lower costs and improve outcomes for millions of ...
Fri, 08 Jan 2021
The American ...
Endocrine Society Calls for Negotiated Insulin Prices in Medicare
The statement is aimed at drug companies, policymakers, pharmacy benefit managers, employers, and others, and calls to attention soaring insulin costs, which were the subject of several Congressional ...
Tue, 12 Jan 2021