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Thrivent Medicare Supplement Review

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Thrivent Financial is a Better Business Bureau accredited organization since 1999 and has earned an A+ rating.  The BBB gives them 3.85 stars out of 5 based on 4 customer reviews.  Below you will find some statistics on rate increases and market share.

Thrivent originated in the 20th Century providing assistance to Lutherans through the Aid Association  for Lutherans (AAL) and Lutheran Brotherhood (LB).  AAL was chartered in 1902 in Wisconsin as a fraternal benefit society, and LB was a similar organization formed in Minnesota in 1917. They came together in 2001 to provide benefits to Lutherans sharing similar values and beliefs and became Thrivent Financial for Lutherans, now a Fortune 500 not-for-profit organization.

Thrivent Financial has recently introduced Medicare Supplement Plans in a handful of states.  There are also six other states that are pending approval including South Carolina, Texas, Kansas, Indiana, Virginia and Maryland. These states are projected to be approved between January and April of 2017.

In order to qualify for Thrivent’s Medicare Supplement, the applicant must agree to the “Statement of Christian Common Bond” and become a member of a Thrivent local chapter.  Only members of a local chapter are eligible to to enroll in the plan.  One of the following must be true statement acknowledged by the applicant on the Thrivent membership form.

  • I am a Christian seeking to live out my faith
  • I am a spouse of a Christian who seeks to live out his or her faith
  • If applying on behalf of a youth under age 16, the youth is being raised in the Christian faith

The Thrivent Medicare Supplement is currently offering Medicare Supplement plans in the states listed below.  The rates for these plans will differ based on your zip code, gender and if you are a tobacco user.

thrivent-approved-states

 

SAMPLE MEDICARE SUPPLEMENT RATES in Bradley Illinois

PLAN G

  • 65 year old Female – Plan G with a requested effective date of  November 16, 2016 without the 7% household discount is $92.15 per month.
  • 65 year old Male – Plan G with a requested effective date of November 16, 2016 without the 7% household discount is $105.97 per month.

thriven-plan-g

PLAN F

  • 65 year old Female – Plan F with a requested effective date of November 16, 2016 without the 7% household discount is $116.68 per month.
  • 65 year old Male – Plan F with a requested effective date of November 16, 2016 without the 7% household discount is $134.18 per month.

thrivent-plan-f

 

 

 

 

 

 

PLAN N

  • 65 year old Female – Plan N with a requested effective date of November 16, 2016 without the 7% household discount is $77.83 per month.
  • 65 year old Male – Plan N with a requested effective date of November 16, 2016 without the 7% household discount is $89.50 per month.

thrivent-plan-n

Enrolling in the Thrivent Financial Medicare Supplement

Every company has their own set of guidelines they go by to accept new applicants, and Thrivent is no different.  The applicant will have to agree to all of the following as part of the underwriting process.

  1. Sign a “Authorization to Release Confidential Medical Information” (HIPAA) form.  This will allow Thrivent to obtain a prescription history report.
  2. Complete a telephone interview.  Although it is not guaranteed to get a call, Thrivent may interview applicants to verify information on a case by case basis.
  3. Answer a series of health questions on the application. If any question is answered “Yes”, that applicant will be declined for coverage.  On the flip side, just because all the questions have been answered “No”, does not guarantee their acceptance.
  4. Be within the height and weight parameters.

Are you “Guaranteed” to be accepted?

The only applicants that will not have to answer the health questions and will be accepted regardless of health are those who are in their Medicare Supplement open enrollment period or Guaranteed Issue period.

The Medicare Supplement Open Enrollment period lasts for six months beginning with the month their Medicare Part B becomes effective.  Those who are becoming eligible for Medicare can also enroll up to 6 months prior to their Medicare Part B effective date without any health underwriting.

The Guaranteed Issue periods can be used to enroll if a person’s employer group or union plan is ending, their Medicaid eligibility is terminating or their Medicare Advantage plan is being terminated. There are different rules for different situations.  It’s best to talk with one of our independent agents to help determine your eligibility.

How difficult is it to get approved for the Thrivent Medicare Supplement?

  • If you are waiting for any tests, therapies, or surgery to be completed, you need to wait until they are no longer pending.  This includes cataract surgery that is scheduled in the next 12 months.
  • Thrivent will not accept insulin dependent diabetics, applicants who have had or a waiting for an organ transplant.
  • Don’t apply if you are currently in a hospital, nursing home, are bedridden or in a wheelchair.
  • If you have been hospitalized three or more times in the last two years, you need to wait until the last two years includes no more than two times.
  • Thrivent as with most other Medicare supplements, you should not apply if you have Alzheimer’s, Senile Dementia, Lupis (systemic), Parkinson’s, Myasthenia Gravis, Senile Dementia, Multiple or Lateral Sclerosis, Chirrosis, Kidney disease with dialysis or HIV/AIDS/ARC.
  • If you have previously had any treatment or surgery for internal cancer in the last 2 years, you need to wait until a full two years has expired free of any treatments or surgery.
  • If you have been diagnosed, treated, or taken medication for any of the following in the last 24 months, you should not apply and need to wait.
  1. Treatment for drug or alcohol abuse
  2. Mental or nervous disorders requiring psychiatric care
  3. Had any amputations as a result of a disease
  4. Treatment for a heart attack, coronary artery disease, carotid artery disease, peripheral vascular disease, congestive heart failure, an enlarged heart, a stroke, TIA or a heart rhythm disorder.

The Thrivent Medicare Supplement medical underwriting is very comparable to the majority of other Medicare Supplement.  Nothing really stands out as a “niche” that they are more lenient or stringent than others.  It’s really about the rates.  For someone who is new to Medicare or very healthy, they are definitely worth considering!

Fill out the Customized Quote or call 614-402-5160 to get rates and see if you can qualify for the Thrivent Medicare Supplement.

 

 

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