Medicare Plan G Reviews
If you’ve chosen to enroll in Medicare supplement Plan G, you’ve got great coverage. Plan G is going to pay for all costs that remain after Original Medicare (Parts A and B) pay their portion. The only thing you’ll be responsible for is the Part B deductible.
No matter where you get Plan G, you will have the same benefits. Medigap plans (another name for Medicare supplements) are standardized, meaning their coverage will always be the same across every insurance company. The plan’s benefits will never change from one year to the next.
Every Medigap Plan G is an “A+” plan. So, if you’ve decided to purchase Plan G, the only thing you need to compare is insurance carriers. Each carrier can set their own premiums and some have a better history of paying claims than others. You want to choose a reliable, stable company who is going to give you great service.
We use a few guidelines to choose which companies to work with. A.M. Best is a company that rates insurance companies based on their creditworthiness – the company’s financial strength, operating performance, and overall business profile. We also consider how a company is rated with the Better Business Bureau (BBB) and their consumer ratings. Plus, we look at their current premiums and their history of premium increases.
We’ve put together our top 10 Plan G insurance providers. The list here is in no particular order. We will cover a review of each Medicare Plan G review by the company.
Mutual of Omaha
A.M Best rates Mutual of Omaha as an A+ company. They’re also given an A+ by the BBB, which means this is a great option for your Plan G carrier. There are no application fees to apply and they offer household discounts of up to 12%, depending on where you live. Mutual of Omaha’s approval process is very quick. You can even get an electronic ID card for temporary use while you wait on your card to arrive in the mail.
Mutual of Omaha is available all over the country, except in Massachusetts.
Aetna received an A rating from A.M. Best and an A+ from the BB. They have a quick application process but do require applicants to submit an application processing fee, which is added to the first month’s premium. Their 7% household discount applies to anyone who lives with someone age 60 or older. Again, the discount varies by state.
Aetna Medicare supplements are available in 44 states.
UnitedHealthcare is one of the largest insurance companies in the United States. They received an A rating from A.M. Best and an A+ rating from the BBB. There are no application fees for their Plan G product. They do offer household discounts and a SilverSneakers gym membership is available in some states. You may even have access to dental, vision, and hearing discount plans.
UnitedHealthcare Plan G is available nationwide.
A.M Best gave Cigna an A rating and the BBB gave Cigna an A+ rating. They do offer household discounts, as well as discounts for enrolling online. Cigna is a reliable insurance company and has shown a 7% annual rate increase in recent years. This is higher than some companies but still lower than others.
Cigna Medicare supplement plans are available in most states.
Manhattan Life has an A+ rating from the BBB and a B+ rating from A.M. Best. In most states, they offer a 7% household discount if you live with anyone age 60 or older. They also have a less-strict underwriting policy, which makes their Medicare supplements easier to access for those who must pass medical underwriting. However, this could be a contributing factor to their high rate increases. The rate increases vary by state, but some individuals saw a 15% premium increase last year.
Manhattan Life Plan G is available in every state.
Banker’s Fidelity is an A- company according to A.M. Best and an A+ company according to the BBB. They are unique in that they use the issue-age pricing method, which means your premium is set based on the age you are when entering the plan. While the premium could increase due to inflation, it will never increase due to your age. Most companies use the attained-age pricing method instead, which means their premiums can go up with both inflation and age. Banker’s Fidelity also offers household discounts.
Banker’s Fidelity is not available in every state.
A.M. Best rates Medico as an A- and the BBB rates them as an A+. Medico’s household discount applies to any policyholder who lives with anyone who is 18 and older and enrolls in automatic bank draft for premium payments. Their initial premiums may be higher than other companies, but they enjoy a relatively low annual increase – usually lingering around 2.6%.
Medico Medigap Plan G is available in 25 states.
For 40 consecutive years, United American has received an A+ rating from A.M. Best. They are known for their exceptional customer service and have quick claim payments. In recent years, they’ve also had one of the lowest average rate increases, ranging from 0% to 3%, depending on the state.
United American Plan G is available in 48 states.
Both A.M. Best and the BBB rate GPM has an A- company. GPM stands for Government Personnel Mutual Life Insurance Company, but their Plan G is available to all individuals. Since they are owned by policyholders, individuals can receive dividends or decreased premiums when the company is profitable. Household discounts are available in some states.
GPM Medigap Plan G is not available in every state.
Humana has an A- rating with A.M. Best and an A+ rating with the BBB, but their customer service ratings are lower than other companies. They offer a 5% discount if you enroll online, have a spouse who is also enrolled in a Humana plan, or enroll in an automatic bank draft for your monthly premium. Compared to other companies, their premiums can be high, but that will depend on where you live.
Humana Medicare supplement Plan G is available in 47 states.
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