The most popular companies nationwide are Mutual of Omaha, AARP, Blue Cross, Aetna and Humana. When shopping for a Medicare Supplement plan it is very important to compare all companies and plans to ensure your are making a wise choice. Contacting an experienced agent to guide you through the process is highly recommended.
Mutual of Omaha is an “A” rated company with excellent customer service and a dedicated Medicare Supplement department. The main reason this company is so popular is because they have very competitive prices in many states due to their strict underwriting guidelines. This means they pay fewer claims because their customers are healthier. Mutual of Omaha has three companies that sell Medicare Supplement Insurance, including United of Omaha, United World, and Mutual of Omaha. Mutual of Omaha companies have had some significant rate increases over the past couple years so ask your agent about their rate history and pricing structures.
Gerber Life is another Medicare Supplement Insurance Company that can be an excellent choice for people looking to buy an affordable Medicare Supplement Plan. This company has an “A” rating and is a division of the same company that has made baby food for years. Gerber Life is offered in nearly every state, has great customer service, and established relationships with hospitals and physicians. While this company is relatively new to Medicare Supplement Insurance, they have been in the insurance business for years and all of their customers are extremely happy and well taken care of.
AARP is one of the most popular Medicare Supplement Insurance Companies because they have strong brand name recognition and a loyal following. They tend to be more expensive in most areas of the country but their pricing method is very different from most. AARP uses a combination of Community Rated Pricing and Age-Attained Pricing to deliver plans at an affordable price. However, the real benefit to AARP Medicare Supplement Plan is they include Silver Sneakers in all plans, which will pay for your gym membership if you visit a participating facility. In addition, AARP has very relaxed underwriting and will accept most people into their plans, even if they are disabled. Rate increases have historically been very low meaning clients may pay more in the beginning but less when they are older.
Blue Cross is another very popular company, mostly because of their strong brand recognition and great employer health plans. However, they tend to be more expensive in some areas, but they have a lower overall rate increase history over the past 10 years. The average rate change has been less than 5%. Blue Cross also has a very competitive high deductible Plan F option.
Humana is another one of the most expensive Medicare Supplement Insurance Companies. However, they have great Medicare Advantage Plans and Prescription Drug Plans that are available in almost every county in America. Humana Medicare Supplement Plans and Medicare Advantage Plans offer the “Silver Sneakers” program as well, which means people who enjoy going to a participating gym may save money on their gym membership. This can be a huge benefit for seniors who like to stay active.
Aetna recently purchased American Continental Life Company and offers the most competitively priced Medicare Supplement in most states. Their Medicare Supplement insurance plans offer seniors the ability to continue going to the doctors and hospitals they know and trust while providing comprehensive coverage at competitive premium rates. They also offer a complete portfolio of complementary products such as cancer, whole life, and hospital indemnity insurance.
Choosing the perfect Medicare Supplement Plan can be very difficult considering the vast amount of Medicare Supplement Insurance Companies that are available today. We recommend shopping all companies to make sure you get the best plan for the best price. The easiest way to accomplish this daunting task is to contact an insurance broker who carries all companies and plans and who can offer unbiased, expert advice. Please do not hesitate to call the experts at Insurance Connection USA at (800) 732-0249 if you would like free quotes and plan information.