Medicare Supplements in Texas

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

Compare Rates and Companies for Medicare Supplements in Texas

SAMPLE COMPANIES

Allstate

One of the nation’s most recognized insurance companies for Auto, Home Owners and other Property and Casualty insurance is in the Medicare Supplement market now.  The purchased National General’s Accident and Health lines and were rebranded.  If you’re able to pay your premiums one time per year you’ll get an additional 10% discount plus a household discount if you qualify. This makes them one of the lowest priced Medicare Supplements on the market

Transamerica

The division that administers and markets the Medicare Supplements is Transamerica Premier Life Insurance Company is the division that markets and sells the Medicare Supplement. They’ve carried an A+ rating by A.M. Best, the organization used to measure an insurance companies ability to pay it’s claims,  for many years.  They are most well know for their competitively priced and forward thinking Life Insurance policies. You’ll probably recognize their pyramid shaped sky scraper in San Francisco.  Their Medicare Supplement is straight forward priced and is the same whether you’re enrolling with a spouse or not and they do charge a $25 application fee.

Cigna

This company should definitely be familiar to you. They’ve been in the under 65 health insurance market for years and you may have had them through an employer in the past.  Cigna has a subsidiary company called American Retirement Life Insurance Company that offers Medicare supplements too. They market their products under different divisions depending on what state you live in. . All the companies under Cigna’s umbrella are administered  from the same place. The Cigna family of companies  has an A rating from A.M. Best and is always trying to offer competitively priced Medicare Supplements. If you are enrolling with a spouse,  Cigna will reduce your premium.

Mutual of Omaha Companies

The Mutual of Omaha family of companies are A+ rated with A.M. Best for many years. Omaha companies gives you a discount on your premiums just because you live with another adult in the house. You don’t have to be married and it could be anyone as long as the are at lease age 18 and have lived in the household for the past year and there’s no application of policy fee to pay.

Aetna

This is another company that has different subsidiary companies in different states that offer Medicare Supplements.  They’re competitively priced but they’re about 20-30% higher that some of the smaller, less recognizable organizations. You can only get the d 7% discount if you have a spouse that either already has a supplement with one of the Aetna family companies. The Aetna family includes Aetna Health and Life, American Continental and Continental Life .  They will charge $20 application fee per person.

United American

They’ve been around longer than any other company for Medicare Supplements. Their flagship product, High Deductible F is a solid choice that can save thousands of dollars in premiums will keeping you covered for catastrophic medical events. This company has over 500,000 policies in force all over the United States. United American is an A+ rated company by A.M. Best. There is no household or married couple discount and there is no application fee.

GPM

With a solid rating of A+ by A.M. Best, and a solid history of over 8 years in the supplement market,  Government Personnel Management is a strong competitor in the supplement market. The company began in the 1930’s serving our military and family members. The company then expanded to serve federal employees, individual customers, and senior citizens. It’s probably a company you’ve never heard of, but they’re worth taking a look at. Mutual of Omaha, a long time leader in the Medicare supplement market,  actually administers the plan and services it’s policy holders. There’s a $25 application fee and the only way to get a 7% discount is if another person that you live with also has their supplement.

Bankers Fidelity

Bankers Fidelity is not related to Bankers Life or Liberty Bankers. They’re completely unrelated and easily mistaken for each other. Bankers Fidelity has offered Medicare Supplements for over 30 years and are one of the very few that will accept certain medical conditions that most other companies will decline. They do this by rating their applicants as either Preferred or Standard rates.  We’ve been successful getting applicants approved with them that were declined by another company. It’s a go to company if you have a Medicare supplement now and your trying to lower your rates.

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 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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