Are you one of the United States’ 56.8 million Medicare beneficiaries? If so, you’re probably interested in finding ways to save money on healthcare?
If you want to save money on healthcare, one of your best options is supplemental insurance. There are lots of plans out there that will help to fill in the gaps left by Medicare and provide you with the coverage you need.
Not sure where to begin when it comes to finding a supplemental insurance company? Keep reading.
Listed below are ten great supplemental insurance companies that can help you cut down on your healthcare costs.
What Is Medicare Supplemental Insurance?
Medicare supplemental insurance, sometimes referred to as Medigap plans, are policies sold by private insurance companies. These policies help to cover the costs of things that original Medicare might not pay for, such as
- Prescription drug costs
Medigap plans do not cover everything. For example, they don’t cover things like vision care, dental care, or hearing aids. But, they can still be a useful tool if you’re looking to decrease your out-of-pocket healthcare costs.
Top 10 Supplemental Insurance Companies
There are lots of insurance companies out there that offer supplemental plans. Some of the best ones to consider include:
Aetna is one of the country’s oldest insurance providers. They’re highly reliable and have been in the Medicare supplement business for over ten years.
Aetna has great insurance company ratings, and their website makes it easy to register for an account, track your claims, and view your current policy.
Cigna is another highly reliable insurance provider that has been in business since 1982.
Cigna offers competitive monthly premiums and is a great option for folks who are looking for affordable and comprehensive supplemental insurance plans.
Cigna prioritizes making their user experiences easy and is known for great customer service.
Like Aetna, Cigna has great insurance company ratings and offers a lot of the same online benefits.
3. Mutual of Omaha
Mutual of Omaha has been handling Medicare plans since they opened, and their agents have a thorough understanding of the system. This is great for folks who are new to Medicare and Medicare supplements and aren’t sure where to begin.
Mutual of Omaha has several subsidiary companies, too, so they’re available in several states throughout the U.S.
Mutual of Omaha has great reviews and ratings and is known for its friendly and effective customer service team.
4. Blue Cross Blue Shield
Blue Cross Blue Shield has been in the game longer than almost any other insurance provider — they first began in 1929.
Blue Cross Blue Shield is one of the country’s leading insurance companies and is an established Medicare Supplement provider.
The company currently offers seven different Medigap plans. They also have an easy-to-use website so customers can figure out the plan that’s best for them and check on their coverage whenever they want.
Transamerica is another long-time fixture in the insurance industry, having begun in the early 1900s.
This company is considered to be one of the country’s top insurers. It’s a great option for those who want reliable supplemental coverage.
Transamerica is particularly known for its award-winning customer service. If you think you’ll have a lot of questions about you’re policy, they’re the ones with whom you ought to work.
6. Health Care Service Corporation
Health Care Service Corporation, or HCSC, is a Blue Cross Blue Shield Provider that offers coverage to folks in Illinois, New Mexico, Montana, Texas, and Oklahoma.
HCSC serves over 600,000 Medicare Supplement Plan members and is highly invested in telemedicine, which helps to improve patient access and lowers the cost of care for members.
Originally founded in 1961 as a nursing home business, Humana is a favorite among senior citizens.
They serve just over 200,000 Medicare Supplement plan members and place a big emphasis on keeping seniors active, healthy, and social.
8. Bankers Fidelity
Having been in business for over 60 years, Bankers Fidelity is a great option for seniors looking for supplemental insurance.
In fact, their Medicare supplements are some of the most popular products that they offer. Bankers Fidelity also guarantees renewable coverage for their policyholders.
9. Manhattan Life
Manhattan Life is an excellent insurance company to look into, especially if you’re looking for unique ways to get discounts on your insurance policy. They even offer a 7 percent discount just for having a roommate!
Manhattan life offers a variety of Medicare supplement policies, as well as cost-effective dental, hearing, and vision plans. Their website is easily accessible, too, even for those are not particularly tech-savvy.
Another Blue Cross Blue Shield provider, Anthem is one of the most popular supplemental insurance companies in the country.
It’s highly ranked on the Fortune 500 list and serves over 300,000 Medicare supplement plan members.
Medicare supplement policyholders can also enroll in a SilverSneakers fitness program that helps them stay fit and healthy as they age.
How to Choose a Supplemental Insurance Company
Whether you’re interested in Medicare supplement plan G, plan K, plan N, or any other Medigap plan, these tips can help you make sure you’re choosing the right supplemental insurance company for your needs:
- Research each plan carefully and consider your needs — you might want to make a chart and write down the details of each plan to keep the details straight
- Consider the different pricing options to find one that works with your budget
- Sign up during the open enrollment period to save the most money and avoid getting denied coverage
When you’re doing your research, remember to pay special attention to the percentage you’ll be required to pay for doctor’s visits, outpatient procedures, and your deductible should you be admitted to the hospital.
Looking for More Healthcare Information?
It’s easy to feel overwhelmed when you begin your search for a supplemental insurance company. But, if you keep these tips in mind, you’ll likely find that the process is a lot easier than you initially thought.
Do you want to learn more about managing your healthcare and saving money on healthcare costs?
If so, check out the Health section of our site today. You’ll find all kinds of helpful articles here on health insurance, reducing insurance costs and more.