Consumer Guide for the Best Medicare Supplements in Texas

Get customized quotes and advise on the Best Medicare Supplements in Texas.

Quick Reviews of the Best Medicare Supplements in Texas and the most competitive companies

You can choose from over five dozen insurance companies that have been approved to market Medicare supplements in Texas. To help narrow down your search, these reviews provide information about some of the companies with a good reputation for competitive rates, strong finances, and great customer service:

  • Philadelphia American (New Era): Incorporated in the 1920s, New Era has an A.M. Best rating of B++, or Good. You may see this company’s products branded as Philadelphia Life or New Era. The company also markets life insurance, annuities, and specialty health and disability products.
  • Bankers Fidelity: Bankers Fidelity earned an A-, or Excellent, rating from A.M. Best and has been in business for over six decades.
  • Cigna: Cigna has a good reputation as a nationwide health insurance provider. Even though Cigna incorporated in its current form in the 1980s, it grew from a merger of two of the oldest U.S. insurance companies. The company currently has an A.M. Best rating of A.
  • Transamerica: The parent company of Transamerica was founded in the early 1900s. Transamerica subsidies all have an A+ financial rating.
  • United American: This Texas-based insurance company began operating shortly after WWII. It was one of the first companies to focus upon senior insurance products. United American has an A- rating from A.M. Best.
  • Lumico: A Swiss based A+ rated company offering highly competitive rates, new to the Medicare Supplement market.

Which Texas Supplement is Best for Your Needs?

According to recent surveys, over 3.6 million Texans rely upon Medicare health insurance for medical benefits. Since Original Medicare won’t pay for everything, many seniors in the Lone Star State also buy Medicare supplements to help keep expenses under control. The Texas Department of Insurance, or TDI, lists over 70 distinct Medicare insurance companies that have been authorized to market Medicare supplement insurance within the state. You can see that finding the best Medicare supplements in Texas can present a challenge, and we are here to help.

Texas uses the same standardized Medicare supplement plans that most states do, so if you purchase your supplement from United American, Cigna, or one of the other top-rated companies, you can expect the same basic coverage. However, insurers do compete by price, membership perks, and various discounts. For example, you might take advantage of household discounts that are usually about seven percent of the premium. Because supplements offer standardized coverage, they are still somewhat easier to compare than other kinds of health insurance.

You can find supplements with letter names that range from Medicare Supplement Plan A through Medicare Supplement Plan N.  Most people find that they can find a good balance between premiums and coverage by looking at these plan choices:

Medicare Plan F and Medicare Plan G

These two plans often get grouped together because they are almost identical. Plan F will offer you the most comprehensive coverage that Medicare allows for any supplement plan. Historically, Plan F has been the most common choice of all of the plans. Besides basic coverage of many deductibles and coinsurance expenses, you even get covered for urgent medical care out of the country and providers who charge more than Medicare allows. With Supplement Plan F, you shouldn’t have to pay out of pocket for Medicare-covered costs.

Why choose Plan G?

Plan G also fill in all the gaps, except for covering the Part B deductible. Since this deductible is fairly modest and Congress may do away with Plan F, Plan G may offer you the best choice for long-term Medicare insurance coverage.

Currently, you can also choose a high-deductible version of Plan F. Once you pay the deductible, you enjoy the same coverage as the regular plan. In return for paying this deductible, you can pay lower premiums. If Plan F gets grandfathered, it’s likely that Medicare will begin to offer a high-deductible Plan G.

Medicare Supplement Plan N

This cost-sharing option offers you robust coverage. You will have copays for some of your visits to the doctor and possibly, visits to the ER. The only problem with Plan N is that it won’t cover excess charges, or those cases where medical providers charge more than Medicare-allowed limits. If you don’t mind paying extra or only visiting health providers who accept Medicare Assignment, Plan N gives you another way to get good coverage with a lower premium.

When to Enroll in a Texas Medicare Supplement

Before discussing Texas Medicare supplements, it’s important to discuss Medicare enrollment timing because this can impact your choices. You won’t have an annual Open Enrollment Period like the one for Part D and Medicare Advantage. You can apply for a Texas Medicare supplement whenever you qualify for Part A and after you enroll in B.  Your timing may affect your choices and eligibility.

These are some quick facts about Texans who qualify for Medicare from the Kaiser Family Foundation:

  • Percent of Texans on Medicare who are at least 65: 84 percent
  • Percent of Texans who are disabled and younger than 65: 16 percent

Open Enrollment for Disabled Texans Under 65

If you haven’t yet turned 65 and qualify for Medicare because you suffer from a disability, you have a Medicare Supplement Open Enrollment Period from your month of initial Part B enrollment and for 5 more months after that. Texas limits your guaranteed enrollment to Medicare Supplement or Medigap Plan A. Many Texans who are under 65 and on Medicare choose Medicare Advantage because of this restriction.  Once you pass the your initial Medicare Supplement enrollment period, you’ll have to pass the health questions when you apply.

Open Enrollment for Over-65 Medicare Recipients

Once you turn 65, you get the same Guaranteed Enrollment period that everybody else does if you formerly qualified because of a disability or not. People who qualify for Medicare after turning 65 can enroll in any of the plans without worrying about health underwriting for the first 6 months of enrolling in Medicare Part B. This Guaranteed Enrollment Period begins in the month you qualify and lasts for a total of six months.

So, the best time to enroll in Texas Medicare supplements is during that Open Enrollment Period when you have turned 65 and qualify for Part A and B. Some people delay enrolling Medicare Part B because they have other health insurance from work, so their Guaranteed Enrollment Period would still begin when they opt into Part B.

Determining the best solution

Don’t forget that you’ll also need to enroll in Medicare Part D to provide you with coverage for most prescriptions. If you don’t have credible prescription insurance, you will get penalized if you enroll later. Also, you’ll lack any insurance to help you pay for medicine you need from the pharmacy.

Texas Medicare supplements offer you the flexibility to choose your doctors and minimize out-of-pocket health expenses. Since each supplement offers the same base coverage from any insurance company, you are free to shop for competitive prices, money-saving perks, and excellent customer service. Give us a call at (614) 402-5160 and we’ll help you find the Best Medicare Supplement plan and company for you.

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