Top 10 Medicare Supplement Companies

Do you ever wonder which Medicare Supplements are available in your area and how they work? First, it is important to know, you must have Medicare Part A and Part B to receive a Medicare Supplement.  All Medicare supplements are standardized and any plan is guaranteed renewable, even if you have health issues. The carrier cannot cancel your plan as long as you are paying the monthly premium.  Although every carrier offers the same plans, the rates are different based on age, gender, tobacco usage, location and sometimes health conditions.

Each carrier does implement rate increases each year for every plan. You will receive a letter from the carrier annually, 30 days prior to let you know you are receiving an increase. The average annual rate increase is roughly between 6-10%.

Each carrier has several different plans, such as A, B, C, D, F, G, K, L, M, N.  All plans offer the same benefits, but in some cases, additional benefits are offered.  You have the flexibility to choose which plan best meets your needs. 

MWG Senior Services selects the Top 10 Medicare Supplement companies based on their rating and their annual historical rate increases.   

Top 10 Medicare Supplement Companies:

1.            American Continental
2.            American Retirement
3.            Philadelphia American
4.            New Era
5.            Combined
6.            Mutual of Omaha
7.            Central States
8.            Aetna
9.            Gerber life
10.         American National

 

MWG Senior Services represents all of the Top 10 Medicare Supplement companies listed above and more. To see how their rates rank in your area, click here.  Please keep in mind that Medicare Supplements does NOT cover long-term care, vision or dental care, hearing aids, eyeglasses, or private- duty nursing.  However, Medicare Supplements will cover the 20% that original Medicare doesn’t cover.

Some Medicare Supplement policies also offer coverage for services that Original Medicare doesn’t cover, like medical care you may need when you travel outside of the U.S. Please keep in mind that Medicare Supplement plans are DIFFERENT from a Medicare Advantage plan. 

If you have any questions, please call MWG Senior Services at (877) 759-5760 or email us at seniorservices@morganwhite.com.  Our knowledgeable and experienced representatives are ready to help guide you through the Medicare maze.

Turning 65?

Are you turning 65 soon? Are you looking for some answers on what you need to do first to take full advantage of your Medicare options?   We have outlined some simple steps to help you navigate the Medicare maze.  Let’s take a look at what path you might want to take.  Please remember, if you have any questions at all we are just a phone call away. 

We hear this question a lot, “How early should I start looking at my Medicare options?”  We always tell our clients that it is never too early to start educating yourself about Medicare.  You will be bombarded with calls and mail about 6 months before your 65th birthday, which can be pretty overwhelming.  We would recommend finding a knowledgeable advisor at least 4-6 months in advance so you can get the conversation started.  If you are looking for someone to help you navigate the Medicare maze, give us a call at (877) 759-5760 or email us at seniorservices@morganwhite.com.  We would love to help with any questions that you might have. 

Once you are eligible for Medicare, you will need to sign up and drop your Marketplace Health Insurance so that it stops when your Medicare coverage starts.  Most of the time, it is more beneficial for you to sign up for Medicare during the first 3 months of your Initial Enrollment Period.  Doing so could help you avoid late penalties.  Keep in mind, you will not be eligible for premium tax credits or other savings for your Marketplace plan once your Medicare Part A coverage starts.  If you received tax credits to subsidize your Marketplace plan premium, and/or you received these tax credits after your Medicare Part A coverage started, you might have to repay the credits or savings you received when you file your taxes.  

Enroll in Part A of Medicare.  If a person isn’t automatically enrolled in Medicare they can sign up for Part A once their Initial Enrollment Period begins.  This starts 3 months back from the month you turn 65, includes the month you turn 65, and ends 3 months after the month you turn 65.

Decide whether you would like to sign up or delay Part B.  If you do not have creditable coverage through your employer, you would need to enroll in Part B during your Initial Enrollment Period.  If you have creditable coverage through your employer, you can delay Part B.  If your coverage is not considered creditable or you do not have any other coverage, if you don’t sign up for Part B when you are first eligible, you may have to pay a late enrollment penalty for as long as you have Part B.  If you have retiree coverage, you will likely need to be enrolled in both Medicare Part A and Part B to receive full benefits. 

Compare your Medigap options available in your area.  To compare prices of over 19 different Medicare Supplements located in your area, click here.   You will be able to view rates specific to you! 

Let us help you take the guessing game out of what to do to prepare for turning 65 and becoming eligible for Medicare!  We are more than happy to set up a free consultation with one of our Senior Market Advisors that are licensed Insurance agents ready to answer any questions you might have.  Give us a call at (877) 759-5760 or send us an email at seniorservices@morganwhite.com.  Be sure to mention that you heard about us through our blog.  Have a great day!

Source:  Medicare.gov

Philadelphia American Medicare Supplement Rates

Philadelphia American Medicare Supplement Rates seem to have remained stable longer than any other insurance company in the market.  There are some companies that have stable rates but they are not competitive – Philadelphia American is competitive.  There are a few companies like United Healthcare/AARP that have products that remain competitive while offering low premiums, but Philadelphia American has maintained stable rates for several years.

Philadelphia American Medicare Supplement Rates are expected to receive only a 6% rate increase in the state of Mississippi, that will take effect September 1, 2013.  This is extremely low given that they have been in the market three years and other companies like Mutual of Omaha are usually giving rate increases of approximately 15% to their policy holders.  The 6% rate increase is on both Plans F and Plan G.

Philadelphia American Medicare Supplement Rates

Why are Philadelphia American Medicare Supplement Rates so much more competitive than other insurance companies in the market.

  1. They are stricter on Medicare Supplement health questions.
  2. They pay lower commissions
  3. They came into the Medicare market with the idea of hanging around and not just writing business and raising the premium.
  4. They owner of the company runs it like it is his personal business and not for the stock holders.
Philadelphia American Medicare Supplement Rates

Philadelphia American Insurance Company

Where can I compare Medicare Supplement rates?

You can compare Philadelphia American Medicare Supplement Rates at our Medicare Quote Engine.   Here we provide you with free online quotes for Medicare Supplement Plans in a matter of minutes.  We built a program for our users that allows you to price out plans with over 30 companies without the hassle of waiting for different insurance companies to get back with you on their premium amount.

Call our office at 1-877-936-2991 for instant rates on Philadelphia American Medicare Supplement Plans!  We look forward to helping you with your insurance needs.

Florida Medicare Supplement Plan

If you are wanting to explore and compare Florida Medicare Supplement Plans you have come to the right place.  Medicare Insurance Finders specializes in educating people on their insurance options while providing online rates with over 25 insurance companies across the country.

Find the Best Florida Medicare Supplement Plan

The question to ask is how can you find the best Florida Medicare Supplement Plan available without paying an arm and a leg?  There are several suggestions that can help you find excellent Medigap coverage while choosing a cost effective plan and we will cover those below: Continue reading

What is Medicare Supplement Insurance?

With more and more seniors turning 65 and reaching Medicare eligibility we decided to write an article on the question we hear daily “What is Medicare Supplement Insurance?” I know we have many articles on the website that talk about comparing Medicare Supplement plans, but this article well be strictly educational on: what is Medicare Supplement insurance.

What is Medicare Supplement Insurance

A Medicare Supplement plan is insurance that fills in the gaps of Original Medicare (Medicare Parts A & B).  Medicare only covers a portion of your healthcare needs and over 15 million Americans have chosen a Medicare Supplement plan to help supplement their coverage. Continue reading

New Era Medicare Supplement

There is a company by the name of New Era that has been in the senior market for the past few years that is picking up a lot of the business in the Medicare Supplement arena.  They offer different products but the main product they are offering is the New Era Medicare Supplement.  This product has extremely low rates across the United  States and is a very attractive product to many seniors looking for supplemental coverage to Medicare.

New Era also has two sister companies Philadelphia American Insurance Company and New Era Midwest Insurance Company that are offering Medicare Supplements in states that the New Era Medicare Supplement is not available. Continue reading

Retiree Health Insurance

If you are nearing retirement and needing help to figure out what your retiree health insurance options are, look no further.  Today we will cover the different options for those retiring before age 65 and those retiring that are eligible for Medicare.  We will provide you with links and other information pertaining to your retiree health insurance options so you make an informed decision.

Retiree Health Insurance – Not Medicare Eligible

If you are retiring before the age of 65 and not yet Medicare eligible here are your options:

  1. COBRA – you can choose to stay on your current employers plan for the period of time allowed.  Usually this time frame is 18 months which can carry those 63 1/2 to Medicare eligibility.  Premiums are not cheap for this option but it does provide you with health insurance (without health questions) that is equal to your current plan.
  2. Spouse’s Employer Health Plan – If your spouse is still working you could possibly hop on their health plan.  If you are retiring this will usually be a “qualifying event” which means that you can get on this coverage within a specific time frame of losing your employer health plan.
  3. Individual Health Insurance – You may be able to qualify for an individual health insurance policy.  This is not an option for most people as of right now but once the Affordable Care Act takes place their should be more options available.

Retiree Health Insurance – Medicare Eligible

If you are retiring and Medicare eligible there are more options available for retiree health insurance.  There also is a window where no insurance company can ask you health questions after losing your employer health insurance.  Below are a few of the options along with the ability to receive Medicare Supplement Rates online.

  1. Medicare Supplements – The most popular option for those coming off a group health plan and looking to enroll in a health insurance plan that provides them the flexibility with providers is the Medicare Supplement (Medigap) plan.  These plans offer comprehensive coverage, guaranteed renewable plans, no health questions if applying after losing health insurance through an employer, and no network restrictions.  Click here to compare Medicare Supplement rates.
  2. Medicare Advantage Plans – For those looking to find a less expensive coverage with more cost sharing a Medicare Advantage Plan is something to consider.  These plans have different supplemental coverage by zip code but their plans sometimes can even have premiums as low as $0.  There are limitations on the networks (doctors/hospitals), but if you are aware of this upfront they could offer some great benefits for a low premium.  Click here to learn more about Medicare Advantage Plans. 
  3. Medicare Part D Plans – These plans are prescription drug coverage.  Once you are eligible for Medicare and do not have Creditable Coverage for your prescriptions you are required to enroll in a Medicare Part D plan or a MAPD plan.  This insurance will help you cover the costs of your prescriptions and can save you a large amount on out of pocket expenses.
  4. Medicare Alone – You also have the option to have just your Medicare coverage.  This option is better than nothing; however, it does not leave you with a ceiling for out of pocket expenses.  In my opinion, you need a ceiling for your health care expenses (Catastrophic Coverage).
Retiree Health Insurance

Medicare Supplements – Retiree Health Insurance

We hope you enjoyed this article on Retiree Health Insurance.  If you have questions pertaining to Supplemental Medicare Plans please contact our office at 1-800-800-1397 option 6 to speak with one of our licensed agents.  They can help you with just about any insurance plan in the senior market.

This article was brought to you by Medicare Insurance Finders.

American Continental Medicare Supplement Rates

Most Medicare Supplement Companies tend to give rate increases on a policy anniversary.  However, last year we saw something different from one of Aetna’s Medicare Supplement companies.  American Continental Medicare Supplement Rates decreased by 15% throughout a lot of the country.  Once Aetna purchased the insurance company from Genworth they made the decision to be competitive in the Medicare Supplement market.

As you will notice through the online Medigap quotes provided by Medicare Insurance Finders.   American Continental Medicare Supplement Rates are extremely competitive in most states especially for an “A” rated insurance company.  There are some other B+ rated insurance companies that are priced in the same range as the American Continental Medicare Supplement Rates, but we are seeing more and more clients wanting an “A” rated insurance company.

If you are wanting to know a little bit about American Continental and how they handle their Medicare Supplement policies you may want to read on.  However, if you are just looking for Medicare Supplement Rates – Click Here. Continue reading

Compare Medicare Supplements

If you are looking for the number one way to save money on your Medicare Supplement premiums, we will show you how.  Compare Medicare supplements- its that easy! Review the different carrier’s financial stability, compare medigap rates and make sure you understand the difference in coverage between these plans.

Medigap comparison is easy as long as you know what to look for.  The first things is… Continue reading