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Consumer Guide to the best Medicare Supplements in Virginia

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Big Name Companies that offer Medicare Supplements in Virginia

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. They market their products under different divisions depending on what state you live in. In Virginia, Cigna Health and Life Insurance Company (CHILIC) is the branch that’s available. 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 reduces the premiums by 7%.

Omaha Insurance Company: This is the subsidiary company in the Mutual of Omaha family that’s being offered in the Medicare supplement market in Virginia. The Omaha family of companies have consistently been awarded A+ ratings with A.M. Best for many years. United World Life gives you a 7% 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 atlease 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. In Virginia, it’s Aetna Health and Life.  They’re competitively priced with other well known companies, 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.

Take a quick look at premiums for a Male (non-tobacco) age 65, for plan G in Fairfax county. These rates are current on November 11, 2018.

Less Recognizable companies that sell Medicare Supplements in Virginia

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:  This company is sometimes confused with Banker Life and Liberty Bankers and 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. They have accommodated many of our clients that would otherwise been turned down.  It’s a go to company if you have a Medicare supplement now and your trying to lower your rates.

Everest:  Everest is in their third year of offering Medicare Supplement plans. So far they haven’t implemented any rate increases for current policyholders and they’re price to sell! Everest is an A+ rated company by A.M. best and are gaining enrollment shares in many states. You’ll get a discount just for living in the same household with another adult at least 40 years old. They charge a $25 application fee per person.

Which Medicare Supplements in Virginia Should You Consider?

You can choose from 11 different plans Medicare supplement plans in Virginia. Most say there’s only 10, but since there’s a high deductible version of plan F, so we say there’s 11. The benefits will be the same no matter what company is behind the benefits with the exception of  a couple states.  If you live in Virginal, you have the standard A, B, C, D, F, HDF, G, K,L, M and N available. Although you buy a supplement from a private company they all have to offer the same benefits Medicare designates.

Even if you look at the side-by-side Medicare supplement comparison that Medicare offers online, the choice can still be difficult and confusing. Comparing plans can be confusing and we’re here to help. With eleven different Medicare supplement plans to choose from, which ones will give you the right combination of benefits and premiums?

Our recommendations are plans G, High Deductible F or N and we don’t recommend any “Select” plans that can limit your choice of hospitals.  Regular Plan F will be discontinued for those who are not age 65 before January 1, 2020. If you need more information or would like to apply, please fill our the Customized Quote form or give us a call.

We’re here to help- Call (614) 402-5160




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