Citizens with Medicare or medical insurance can almost always significantly benefit from supplemental insurance coverage[1]. Finding the right coverage plan may not always be easy, but the correct research can help you identify plans that help you and your loved ones feel safe. It’s always a good idea to be aware of what options are available to you.
Fortunately, several supplemental insurance companies offer these kinds of plans[2]. However, before ultimately signing up, you should try to find one that isn’t too expensive but which also offers reasonable protection. It should be able to suit your medical coverage without causing too many excessive financial concerns.
What Is Supplemental Insurance?
Supplemental insurance plans are services that help fill the gaps in Medicare plans. Medicare pays for much, but not all the health costs of citizens. Medicare supplemental plans cover services that original Medicare doesn’t, such as health insurance when you travel outside the country.
That said, below are the best supplemental insurance companies you should consider:
1.Cigna
Cigna is an established company offering Medicare supplement insurance plans, which help cover you for medical expenses not covered under part A or B of your plan. Most people prefer Cigna as it allows subscribers to choose their physician of choice without referrals. The company provides coverage all throughout the United States, and at times, covers for medical emergencies outside the country as well. You can only lose your coverage if you fail to pay premiums. Cigna offers discounts if more than one person from a household subscribes[3].
2. Humana
Humana is a very affordable Medicare supplemental insurance company. It offers supplemental coverage for individuals with part A and B Medicare plans. The company offers a wide array of affordable insurance plans that help subscribers cover for expenses not paid by Medicare. Besides their reasonable rates, the company pays providers without a hassle.
3. Blue Cross Blue Shield
If you are searching for a Medicare supplemental insurance company with the best customer service, Blue Cross Blue Shield should be the company of your choice. They offer insurance plans for families, individuals, disabled people, and those above 65 years of age with Medicare Part A and B. The company charges affordable rates and helps pay for the costs that Medicare plans do not cover.
4. Aetna
Aetna is among the highwar rated supplemental insurance companies currently. It offers various supplemental health insurance products for your entire family besides Medicare Supplement insurance. Money paid by the company for claims can be used for medical costs, deductibles, everyday expenses, and co-insurance. They offer covers for critical illnesses, hospital indemnity plans, dental and vision problems, and accident on or off work. Most of Aetna’s plans cover skilled nursing expenses, which are excluded from other standard Medicare supplement plans.
5. United Healthcare
United Healthcare has been endorsed by the AARP to provide supplemental Medicare insurance plans. Like other companies listed above, they have affordable policies that help individuals cover costs not included in their Medicare Part A and B policies. However, to enjoy their services, you should have Medicare Part A and B cover, be a member of the AARP, disabled, or aged above 65 years.
6. AFLAC
AFLAC is another well-known supplemental insurance company that offers reasonably priced plans tailored to meet individual needs. You can choose your plan from their wide array of categories, which include cancer, critical illness, short-term disability, life insurance, vision, and dental, among others. Many prefer the company as it pays directly to policyholders without a hassle.
7. Globe Life
Globe Life is an insurance company that has been in existence for years. The company offers a plethora of health and life insurance options to millions in the United States. They have affordable and reasonably priced plans with Medicare supplement insurance for your entire family, which might not be covered by primary health care plans[4].
8. Manhattan Life Insurance Company
This is yet another well-established insurance company with a solid reputation in providing Medicare supplemental insurance. Apart from Medicare supplemental plans, it also offers cancer policies, supplemental health care plans, life insurance and individual and group health plans.
9. Mutual of Omaha
Mutual of Omaha is another respected insurance company that has provided a wide array of insurance products for decades. It provides Medicare supplemental insurance and other types for families and individuals not on Medicare, such as stroke, cancer, critical illness, life insurance, dental, long-term care insurance, prescription drug plans, and heart attack policies.
10. Transamerica Insurance Company
Transamerica offers a wide range of affordable Medicare supplemental insurance plans through several private companies. Through this, they help their clients enjoy coverage and protection from out of pocket expenses that are not covered by Medicare Part A and B. The company also has various insurance options, including retirement solutions, mutual funds, employee benefits, exchange-traded funds, and annuities.
The Bottom Line
Most citizens do not understand what Medicare covers, nor the supplemental coverage that they need. That said, you should find a company that offers the best rates possible for supplemental coverage. For this, you should consider doing extensive research and request several quotes possible from different companies. This will help you find the best supplemental insurance company to cover health conditions that are out of your Medicare plans.
[1] “What’s Medicare?” Accessed July 8, 2020. https://www.medicare.gov/what-medicare-covers/your-medicare-coverage-choices/whats-medicare.
[2] Araujo, Mila. “Do You Need a Supplemental Health Insurance Plan?” The Balance. Accessed July 8, 2020. https://www.thebalance.com/the-basics-of-a-supplemental-health-insurance-plan-2645664.
[3] “Benefits of Coverage.” Cigna. Accessed July 8, 2020. https://www.cigna.com/medicare/supplemental/benefits-of-coverage.
[4] Insure.com. “Globe Life Health Insurance.” Insure.com. https://www.insure.com/, December 7, 2009. https://www.insure.com/companies/globe-life-health-insurance.html.
