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What are the top 5 Medicare Supplement plans? That is tough to answer, everyone's need and budget is different, but we are going to try. If you want to see rates, just enter your zip code in one of the quote tools on this page or call us anytime 1-844-528-8688
It’s certainly not unusual for seniors who are shopping for a Medicare Supplement plan to want to consider the top Medicare Supplement plans being sold across the country.
It’s important, however, that we drill down into why a particular plan ranks in the top 5.
- Is it because of the benefits offered?
- Is it because of the premiums charged?
- Is it because of a particular company that offers the plan?
- Is it a combination of all of the above?
The 10 Standardized Medicare Supplement Plans to Choose From
*Plans F & C are only available to Medicare beneficiaries who became eligible for Medicare before January 1, 2020.
1 Plans F & G offer high-deductible plans that have an annual deductible of $2,370 in 2021. Once you meet the deductible, your plan will pay 100% of covered healthcare services for the remainder of the year.
2 The Plan K has a yearly limit of $6,220 for out-of-pocket expenses. When the limit is met the Plan K will pay 100% of your covered healthcare services for the remainder of the year.
3 Plan L has a yearly limit of $3,110 for out-of-pocket expenses.
4 Plan N will pay 100% of the Medicare Part B coinsurance, except for a copay of up to $20 for office visits and up to $50 for ER visits that do not result in admission.
The best and most realistic way to talk about the top 5 Medicare Supplement plan is to consider the different categories the plans should be ranked in:
- Best Low Cost Medicare Supplement plan
- Best Medicare Supplement plan for seniors who became eligible before Jan 1, 2020
- Best Medicare Supplement plan by Company
- Best Medicare Supplement plan for very healthy individuals
Best Medicare Supplement Plan for New Medicare Enrollees
If you are a new Original Medicare enrollee, it means that you became eligible for Medicare after January 1, 2020, and therefore not eligible to purchase Medicare Supplement plan C or pan F.
As such, your best option will be Medicare Supplement Plan G because this plan offers the same benefits as Plan F except it doesn’t cover the Medicare Part B deductible which is $203 for 2021.
Here are the benefits provided by Medicare Supplement Plan G:
Highlights of Medicare Supplement (Medigap) Plan G:
How much is Medicare Plan G?
Although monthly premiums depend on where you live, the average cost for Plan G is $100-$200 per month
Is there a deductible for Plan G in 2021?
Since the policyholder is responsible for the Medicare Part B deductible, the only deductible required in Plan G is $203 in 2021.
Is there an option for a low-cost Plan G?
Yes. Plan G also has a High Deductible option which will significantly lower the monthly premium
What is the Rate Increase History?
Several factors will impact your rates at renewal but the overall history of rate increases for Plan G is between 2% and 6%.
Is Plan G going away like C and F?
There are no plans to do away with Plan G since it’s not considered a first-dollar coverage plan.
Best Low-Cost Medicare Supplement Plans
As was mentioned earlier, the state you live in will have a significant impact on your cost for a Medicare Supplement plan.
On average the lowest cost Medicare Supplement plans are:
Medicare Supplement Plan
Average Monthly Premium
$72 - $115
$119 - $301
$49 - $90
**Prices vary by male or female and zip code
Here is a side-by-side comparison of Medicare Supplement plans K, L, and N:
Benefit Plan K Plan L Plan N
Medicare Part A coinsurance 100% 100% 100%
Medicare Part B Coinsurance 50% 75% 100%
First 3 pints Blood 50% 75% 100%
Part A Hospice coinsurance 50% 75% 100%
Skilled nursing facility coinsurance 50% 75% 100%
Part A Deductible 50% 75% 100%
Part B Deductible --- --- ---
Part B excess charges --- --- ---
Foreign travel emergency --- --- 80%
When you compare the average monthly premiums versus the coverage provided in each plan, Medicare Supplement plan N appears to deliver the best bang for your buck.
Best Medicare Supplement Plan for Seniors who became Eligible before January 1, 2020
Although Medigap Plans C and F can no longer be offered to seniors who became eligible for Original Medicare after January 1, 2020, if you became eligible before 1/1/2020, these plans are the most comprehensive.
Medicare Plan C and F are still available for eligible seniors if companies are offering them in your area.
Plan F covers 100% for every benefit except emergency foreign travel where it covers 80%
Plan C also covers 100% for every benefit except for foreign travel which is 80% and provides no coverage for foreign emergency travel.
Top Rated Medicare Supplement Insurance Companies
When seniors choose a top-rated insurance company, they are choosing the best company based on several attributes such as competitive pricing, plan selection, and customer and claim service.
In reality, the top five Medicare Supplement providers will change year over year as far as position but the top companies will generally remain in the top 5 years after year.
Here are our top Medicare Supplement insurance companies in no particular order:
Mutual of Omaha Medicare Supplement Plans
United Health Medicare supplement
AARP Medicare Supplement Plans are available through United Healthcare. They offer protection from the gaps in the traditional Medicare system like copays and deductibles, which is especially important for people with low incomes. These plans are designed to help fulfill AARP's mission: "empowering people to choose how they live as they age"
Seniors can easily compare pricing and get all of the pertinent information to discover if an United Health Medicare Supplement Plan is the best fit for your circumstances and budget, by calling us at 844-528-8688
Aetna Medicare Supplement Plans are designed to help with costs that Original Medicare doesn't cover.
There are ten different Medicare supplemental Insurance Programs that are listed from A to N. Of these plans Aetna offers Medicare Supplement plan A, plan B, plan G, plan N, plan F, and the high deductible Plan F.
Additionally, Aetna is one of the few companies that offers a discount when both the husband and spouse have an Aetna Medicare Supplement plan.
If you're looking for a comparison of Medicare Supplement Plans, call us to learn about the best option for your location, circumstances, and budget. We're unbiased and we'll help you find the plan that works best for you.
Cigna's Medicare Supplement Plans stand out as one of the top providers, and they offer amazing customer service and claims service. They provide competitive pricing and are a popular choice for seniors across the country.
There are many reasons to choose Cigna as your Medicare Supplement provider, but here are three that are very important:
- Cigna is a top-rated Medicare Supplement provider, according to customer satisfaction surveys. This is thanks to Cigna's continued investment in technology and service. For instance, Cigna offers insurance products efficiently and provides top-notch customer service to both consumers and authorized agents.
- Cigna customers are free to see the doctor they want without network restrictions. There are no referral requirements for specialists, and you can use any medical provider who accepts Original Medicare.
- Cigna makes healthcare coverage available to people nationwide. Their plan options include international coverage, meaning consumers can get benefits for medical expenses incurred in other countries.
The Bottom Line
Without a doubt, when you are shopping for a Medicare Supplement plan that is right for you, always employ the services of an experienced and reputable independent Medicare specialist like the Medicare Solutions Team.
An independent Medicare specialist will represent all of the highly-rated insurance companies and can shop your coverage with multiple carriers simultaneously.
Although the Medicare Solutions Team represents many carriers, they are employed by none of them. This relationship allows your broker to put your needs first and foremost and the expert services they provide will never cost you anything.