There are so many top-rated Medicare insurance companies, finding the best one for you can seem like a never-ending process. But we’re here to help you narrow your search and make your choice.
Once you choose the Medigap policy you want, you need to choose the company that will give you that coverage. In the content below, we’ll go over the top 12 Medicare insurance carriers and explain why they are so popular to those looking for Medicare Supplemental plans.
What are the Top 12 Medicare Insurance Providers?
There are plenty of top-rated Medicare insurance companies, but these are generally the most popular because of the range of coverage, options, and rates they can offer you:
- Anthem Blue Cross Blue Shield
- Bankers Fidelity
- Mutual of Omaha
- United American
The insurance company Aetna is reputable for its large provider networks and extensive coverage. Aetna is one of the largest Medicare carriers out there and has A+ ratings through the Better Business Bureau (BBB). Also, since Aetna is such a financially strong company, it can offer low-cost Medicare options.
While this company doesn’t offer all the Medigap plans, the policies they offer are quite competitive. Aetna offers Medigap Plans A, B, F, G, and N.
There are even great Medicare Advantage plans through Aetna that include ancillary benefits like dental, vision, hearing, and fitness memberships.
No matter which Medicare option you choose, Medigap or Medicare Advantage, Aetna has quite a few options worth comparing. Aetna even has the lowest premium Part D option, known as SilverScript.
Anthem Blue Cross Blue Shield
While Anthem Blue Cross Blue Shield is a huge insurance carrier, they only offer Medigap in California, Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri, New Hampshire, Nevada, New York, Ohio, Virginia, and Wisconsin.
Anthem does have top-rated Part D plan options, and they offer Part C plans. Many of the Anthem Advantage plans have a 4 to 4.5-star rating.
Depending on your needs and your location, an Anthem BCBS plan could be a suitable option.
Americo has been around for over 100 years. This company is well known for its life insurance coverage, but they also offer Medicare Supplement and Annuity products. Americo has an A (Excellent) rating for A.M. Best.
There are currently 38 states that offer Americo Medigap plans. This company doesn’t currently provide Part C or Part options.
Bankers Fidelity, a private insurance company, has an A- (Excellent) rating through A.M. Best Company. Without a doubt, Bankers Fidelity is a leading Medigap insurance provider because of its secure financial position and client-centered philosophies.
Bankers Fidelity is commonly known to have lower costs than some of the larger companies, but it’s not available in all states.
While this company doesn’t offer Part C or Part D plans, they do sell final expense life insurance, cancer coverage, short-term care coverage, and hospital indemnity plans.
It’s likely you’ve heard the name “Cigna” before, they are a popular, top-rated carrier. This is a solid company offering low-cost Medicare options.
Cigna Medigap plans are available in 48 states, 46 of which have plan options A, F, G, N, and high deductible Plan F. In Wisconsin and Minnesota there are specialized policies that meet those state standards.
Currently, Cigna Medicare Supplement plans aren’t available in New York or Massachusetts.
There are Part D plans and Part C plans available through Cigna too. The Part C and Part D plans have star ratings ranging from 2.5 to 5 stars.
Starting out in Kentucky, Humana has grown to be a huge competitor in the Medicare industry with an A+ rating through the BBB. Humana Medigap plans can include add-on benefits like hearing, life alert, SilverSneakers, and vision. Although, if you want dental, you’ll need to enroll in a separate Humana dental policy.
Humana offers Medicare Supplement insurance in all 50 states. All Medigap plans are available with this company apart from Plan D and Plan M.
When it comes to Medicare Advantage, Humana has 4-star ratings for nearly all their Part C plans, and this company is the second-largest Part C insurance company. Did you know Humana offers plans in 85% of counties?
If you choose Humana, you might be overwhelmed with all the ancillary benefits and perks, but it’ll be worth it.
The company, Kaiser Permanente, is best known for its 5-star Medicare Advantage plans. Customer satisfaction rates are high with this company, too bad it’s only available in 8 states and Washington D.C.
While the premiums might be higher, the cost of care is affordable. You can manage your health records as well as your insurance through the same online portal.
The biggest pitfall is the limited flexibility on where you get your care or the high cost for an HMO-POS. Kaiser doesn’t currently offer Medigap or stand-alone Part D plans.
Since 1930, Medico has provided insurance products. Available in 25 states, Medico can seem like a small company, but the benefits are just as great as the other top carriers. Medico has an A+ rating through the BBB.
Currently, Medico doesn’t offer Part C or Part D benefits. But Medico does offer dental, vision, and hearing plans.
Mutual of Omaha
Providing Medigap insurance since the beginning of Medicare, Mutual of Omaha (MOO) is one of the best Medigap carriers overall with A+ (Superior) ratings through A.M. Best.
Offering lower premiums than other plans with the same benefits is a reason many people choose this company. Medigap plans from MOO are available in 47 states; however, Mutual of Omaha doesn’t offer Part D or Part C plans.
For over 40 years, United American has kept an A rating from A.M. Best. United American offers 10 different Medigap plans in 49 states. Policies in New York are sold through First United American Life Insurance Company.
Those with health issues may find United American to be a good fit; of course, it’s best to consult an agent to ensure possible eligibility. But this company will consider someone with atrial fibrillation or one hospitalization in the last year, plus more.
United American doesn’t sell Medicare Advantage or Prescription drug plans.
The AARP, UnitedHealthcare plans have the largest group of customers in the country. A.M. Best gives this company an A (Excellent) rating.
Currently, there are 11 Medigap plan options with this company but not in every state. While the coverage isn’t always the lowest monthly premium, it could be in your area.
Most of the members of the UnitedHealthcare Advantage plans have a 4-star or higher plan. The Part D plans available are even top-rated. Part C and Part D are available in all 50 states and 74% of counties.
If you find a UnitedHealthcare plan you like, this is a sound company with top ratings.
The United Services Automobile Association founded USAA and made it one of the largest and top Medicare companies in terms of revenue. This company offers families that served in the United States military banking, investing, and insurance.
USAA plans are available to those that have served or are currently serving in the United States Armed Forces. This company is an A-rated carrier.
Plan N and Plan F are offered in most states. Customer experience is one of the biggest selling points of this company.
Prices can run higher than some of the other top carriers, so comparing plans side by side can help you determine your best option.
What are Some Other Top-Rated Medicare Carriers?
Aside from the common 12 companies mentioned above, there are many great companies that offer coverage to supplement your Medicare.
12 more great Medicare companies to look into include:
- Admiral Life
- Colonial Penn
- Continental Life
- Monumental Life
- Physicians Mutual
- Secure Horizons
Who is the largest Medicare Advantage provider?
The answer to this is UnitedHeathcare. While UnitedHeathcare doesn’t offer Medigap plans in every state, it does service all 50 states with Medicare Advantage and prescription drug plans.
What is the most popular Medigap plan?
Plan F is extremely popular among Medicare beneficiaries because it is the most comprehensive Medicare supplement available. However, you have to have been eligible for Medicare no later than January 1, 2020, to take advantage since it has been phased out going forward for new users.
The most popular plan for all people eligible for Medicare will be Plan G.
Is Medicare Plan G worth it?
The short answer is yes. It is pretty comprehensive coverage and the best thing currently available to all new Medicare beneficiaries. Plan G will carry an additional monthly premium, but will eliminate many of the co-pays that can pile up as you get older or your health unexpectedly declines.
How to Find the Best Medigap Carrier
As you can see, there are many companies that offer great plans, rates, and options regarding your health care coverage. But it can still seem like a daunting task to make a crucial decision like this.
The easiest way to find the company that’s the best fit for you for Medicare Advantage or Supplemental plans is with the help of a licensed insurance agent. An insurance agent may even find a way you’re eligible for a Special Enrollment Period — insurance experts are awesome like that!
Our agents offer their expertise to you free of charge, so give us a call at the number above or fill out our online rate form to get connected with the best rates and plans in your area.