August 23, 2024 Author: Amie Clark | August 23, 2024 |
Best Overall Plan Overall Rating:State Farm is our top choice for Medigap Plan D, offering a variety of great Medigap policies. As one of the country’s largest insurance providers, State Farm provides great customer service and options for bundling multiple policies (such as life or auto) with your Medigap plan. They also offer personalized customer service, with access to local agents and even home visits.
Best Pricing
Colonial Penn has been specializing in insurance for almost 150 years — the last 60 of which have been focused solely on life insurance and a clientele consisting of Americans over age 50. We think their singular focus on life insurance and Medigap policies gives Colonial Penn an edge.
Best Discounts Overall Rating:Touting more provider contracts than its competitors, Anthem Blue Cross Blue Shield is a reliable company with far-reaching coverage. You may even be eligible for a discount or complimentary fitness club membership with the purchase of your plan. The provider offers a range of plans depending on your state.
Like the term suggests, Medigap insurance is designed to cover the “gaps” in Medicare plans. Though not all U.S. seniors participate in Medigap, at least a quarter of people enrolled in Medicare currently hold supplemental policies. A survey conducted by America's Health Insurance Plans shows that the grand majority of seniors with Medigap policies are highly satisfied with their savings, care, and protection from potentially high medical bills.
EXPERT TIP: The best time to start shopping for supplemental insurance is during your initial enrollment period (six months beginning with the month you turn 65). During this time you are protected by federal law, and cannot be refused coverage or charged more for preexisting health conditions.
Plan D is one of many federally regulated Medicare supplemental plans. In particular, Plan D is considered a moderate supplemental plan — positioned between more basic and extensive plans. Moreover, Plan D provides similar coverage to that of Plan C (which has just recently been discontinued), minus Part B’s deductible coverage.
In terms of cost, most of the plans we found ranged from $100-$200 in terms of monthly premiums. While it does not have the comprehensive coverage of Plan G, Plan D offers a decent amount of coverage at a more comfortable price. Let’s take a look at what the standard Medigap Plan D covers.
What Medigap Plan D Covers
| Benefit | Medigap Plan D Coverage |
|---|---|
| Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are depleted | Yes |
| Part B coinsurance or copayment | Yes |
| Blood (first 3 pints) | Yes |
| Part A hospice care coinsurance or copayment | Yes |
| Skilled nursing facility care coinsurance | Yes |
| Part A deductible | Yes |
| Part B deductible | No |
| Part B excess charge | No |
| Foreign travel exchange | 80% |
EXPERT TIP: You can find a lot of great resources on the official Medicare website. One tool, in particular, allows you to compare companies, policies, and plans by zip code.
Since Medicare supplemental insurance is regulated by the government, the actual coverage of each specified plan will be the same across different insurers. With that said, there were some qualities we looked for when choosing which insurers offered the best plans.
Pro Tip: To learn more about Medigap, what it covers, and which policy is right for you, take a look at my comprehensive guide to Medigap.
Founded in 1922, State Farm started as an auto insurance company catering to farmers. Almost a century later, they are one of the largest insurance groups in the U.S. and cover auto, home, property, life, health, disability, and liability. One thing we like about State Farm is that they will connect you with a local agent — someone from the neighborhood who you can connect with if you have any questions or concerns. That personal touch can be helpful, especially with dealing with tricky things such as medical bills.
State Farm currently offers their Plan D in 45 states. You can get a quote by visiting their website or giving their hotline a call (you will be connected to a local agent).
Price scenario: A 70-year-old woman who lives in Michigan would pay a monthly premium of $162.69.
You may be familiar with this insurance company from their classic commercials featuring the likes of Lou Rawls and Alex Trebek, among others. Beyond their cultural significance, we especially like Colonial Penn because they have a narrow focus on insurance plans that affect seniors the most: life and Medigap policies.
Colonial Penn currently offers plans in all states (excluding Massachusetts). They do not offer online quotes, but you can set up an appointment with an agent through their website or simply call their sales line.
Price scenario: A 70-year-old woman who lives in Michigan would pay a monthly premium of $181.92.
One in three Americans is currently insured by a Blue Cross Blue Shield subsidiary, which equates to a vast, national network. Anthem offers its Medigap plans in all states with the exception of Massachusetts, Minnesota, and Wisconsin. All Medicare supplemental plans include perks such as a fitness program membership. You can also add on extra drug coverage, vision, or dental.
Price scenario: A 70-year-old woman who lives in Michigan would pay a monthly premium of $185.84. This price could get even lower, however, with household discounts or discounts for holding additional Anthem policies.
UnitedHealthcare is one of the largest health-care companies in the country. Established in 1977, this company offers a wide range of health insurance plans nationwide. One unique aspect of UnitedHealthcare’s Medicare supplement plans is that they are endorsed by AARP. Their website is extremely helpful, with detailed explanations of coverage for each plan. You can see what plans are available in your zip code. Supplement plans will require you to input your birthday. You can also get a personalized quote or by calling and speaking with an agent. Be sure to ask about their enrollment and household discounts.
For more information on UnitedHealthcare, check out my full review of UnitedHealthcare Medicare supplement insurance.
Price: For a 70-year old woman living in Michigan, the monthly premium would be $146.39; this is the lowest cost option we found.
