Choosing the right Medicare supplement plan can be confusing. With so many companies and plans to choose from, it can be hard to know which is the best option for you. That’s why we have compiled a list of the Top 10 Medicare Supplemental Plans for 2022. This list includes some of the most popular and well-rated plans from across the country. So whether you are just starting on your search for a Medigap plan, or you are already familiar with the different options available, this list is sure to help you make an informed decision about your health care coverage.
How these carriers get rated is through several factors
First the AM Best Rating. Then we also look at the S&P Rating( Standard and Poor), plus the number of years they have been in the market. Overall review by customers and their experiences and the price at purchase and renewal. Below is the list of the Top 10 Medicare Supplemental Plans nationwide and some of their Strong suites:
- Mutual of Omaha- 50 yrs in the market, great customer service, and A+ rating
- Aetna- Good customer service, a large company with deep pockets and a large coverage map A + rating
- Cigna-Good customer service, good pricing and easy to deal with, and A Rating
- Americo- Good customer service and good payment on claims reputation with an A Rating
- GPM-Great customer service and quick payment on claims with an A Rating
- Lumico Life- decent customer service and very good price point in most markets also an A Rating
- Medico- Good customer service, level price on premium, an A Rating
- Accendo-CVS brought this to the table with good customer service and price with an A Rating
- Humana-Good customer Service mid-range on price with an A Rating
- AARP- Great Customer Service, Good Reputation, Bit pricey an A Rating
Keep in mind a Few Things
These plans are standardized. This means the benefits are Identical. So it boils down to some of the things I mentioned above and what the clients feel is important. Price is affected by some demographics also. Things Like age, Gender, Tobacco use, and zip code. Medigap policies greatly impact your medicare costs, so deciding the right one is a big decision.
Mutual of Omaha– This company has an A+ rating with AM Best and an AA- rating with S&P. Established in 1909, Mutual of Omaha has been a household name for over a century. They pay 98% of Medicare claims within 12 hours, saving clients the hassle and giving them peace of mind with their claim status.
Aetna- Founded in 1853, Aetna proves to be one of the most established insurance companies. With Nationwide coverage and over 39 million customers that rely on Aetna for health care coverage, including Medicare beneficiaries. When rated, the company earned an A from AM Best and an A+ from S&P. Thus, proving to be a top carrier all around.
Cigna Has been around since 1792 and game onto the medicare market 20 years ago with great pricing and good customer service no wonder why they are an A-rated company.
Americo Started in the life insurance field but instantly built a great Medicare Supplemental product with great customer service and a strong price point they come is a strong fourth with an A Rating
GPM is getting an honorable mention in the top 5 of this list of 10. It is using the same model as Mutual of Omaha for its customer service with a good household discount program and A Rating also. Makes it a hard option to pass
So How do I choose 1 out of the 10?
If you are looking for the Top Ten Medicare Supplemental Plans best price point, then Lumico and Accendo are going to be at the top of the list. If you are looking for a strong name and reputation then AARP, Humana, and Mutual of Omaha would be at the top of your list. If you like a company that keeps the rates locked in at a low rate for several years, then Medico would be a good choice.
That’s where a licensed broker can be a big help. We can look at your needs and wants while shopping through all these carriers side by side to put you with your best option. It only takes a phone call and a few minutes of your time.
