Medico Medicare Plans Review
Medico offers several types of popular Medicare Supplement plans, also called Medigap. Read our Medico Medicare Supplement plans review and find out which plans may be offered in your state.
Medico sells Medicare Supplement Insurance (often called Medigap) plans in 25 states, and they offer their members more of a small company feel that can sometimes be lost among the larger insurance companies in the industry.
Medico has provided insurance products since 1930 and maintains around 250,000 active policies to this day.
Below is a look at Medico Medicare plans, including a review of ways the company helps support older adults.
Beneficiaries of Original Medicare (Medicare Part A and Part B) are responsible for a variety of out-of-pocket Medicare expenses such as deductibles, copayments and coinsurance. And because Original Medicare does not feature an out-of-pocket spending limit, beneficiaries can accumulate substantial bills from these Medicare costs.
As a result, many Medicare beneficiaries enroll in a Medicare Supplement Insurance plan like the ones offered by Medico. Medicare Supplement Insurance, or Medigap, pairs with Medicare Part A and Part B and picks up the cost of some of those out-of-pocket expenses required by Original Medicare.
Medico offers some generous discounts for its Medicare Supplement Insurance plans. These discounts may apply to those who meet any of the following criteria:
- You set up an automatic bank withdrawal from a checking or savings account from which to pay your monthly plan premiums.
- You live with another person over the age of 18, regardless of whether or not that person has Medico coverage.
- You do not use tobacco.
Medico’s Medigap plan members also enjoy not having a pre-existing condition waiting period, meaning any prior medical conditions are covered as soon as the policy becomes effective.
There are 10 different types of standardized Medicare Supplement Insurance plans available in most states, and 9 different benefit areas that may be covered by plans in various combinations. Each type of plan offers its own combination of coverage, and the combinations are all standardized by the federal government. That means Plan N sold in Pennsylvania will offer the same coverage as Plan N sold in Arizona. Only the cost and selection of available plans will vary by location or carrier.
The chart below displays the coverage offered by each of the 10 different standardized Medigap plans.
|Medicare Supplement Benefits||A||B||C1||D||F1||G||K||L||M||N|
|Part A coinsurance and hospital costs||✓||✓||✓||✓||✓||✓||✓||✓||✓||✓|
|Part B coinsurance or copayment||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|First 3 pints of blood||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|Part A hospice care co-insurance or co-payment||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|Co-insurance for skilled nursing facility||✓||✓||✓||✓||50%||75%||✓||✓|
|Medicare Part A deductible||✓||✓||✓||✓||✓||50%||75%||50%||✓|
|Medicare Part B deductible||✓||✓|
|Medicare Part B excess charges||✓||✓|
|Foreign travel emergency||80%||80%||80%||80%||80%||80%|
|1. Plans C and F are not available to new beneficiaries who became eligible for Medicare on or after January 1, 2020.
2. Plans F and G also offer a high deductible plan which has an annual deductible of $2,370 in 2021. Once the annual deductible is met, the plan pays 100% of covered services for the rest of the year. The high deductible Plan F is not available to new beneficiaries who became eligible for Medicare on or after January 1, 2020.
3. Plan K has an out-of-pocket yearly limit of $6,220 in 2021. Plan L has an out-of-pocket yearly limit of $3,110 in 2021.
4. Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to $50 for emergency room visits that don’t result in an inpatient admission.
View an image version of this table.
Medico offers Plan A, F, G, N and high-deductible Plan F in most of the 25 states it serves. In Wisconsin, Medico offers a basic benefit plan that includes optional coverage riders.
Medico offers Medigap plans in the following states:1
- Arizona: A, F, G, N, high-deductible F
- Colorado: A, F, G, N, high-deductible F
- Illinois: A, F, G, N, high-deductible F
- Indiana: A, F, G, N, high-deductible F
- Iowa: A, F, G, N
- Kansas: A, F, G, N, high-deductible F
- Kentucky: A, F, G, N, high-deductible F
- Louisiana: A, F, G, N
- Michigan: A, F, G, N, high-deductible F
- Missouri: A, D, F, M, N
- Nebraska: A, F, G, N
- Nevada: A, D, F
- New Mexico: A, D, F
- North Carolina: A, F, G, N, high-deductible F
- Ohio: A, F, G, N, high-deductible F
- Oklahoma: A, D, F
- Pennsylvania: A, B, F, G, N, high-deductible F
- South Carolina: A, F, G, N
- Tennessee: A, F, G, N
- Texas: A, F, G, N
- Utah: A, F, G, N
- Virginia: A, F, G, N
- West Virginia: A, F, G, N, high-deductible F
- Wisconsin: Basic benefits (Medigap plans are standardized differently in Wisconsin and select other states)
- Wyoming: A, D, F, M, N
Depending on the state you live in, these plans may be offered by either Medico Insurance Company, Medico Corp Life Insurance Company or Medico Life and Health Insurance Company. Plan availability can change from year to year, so be sure to speak with a Medico representative to find out exactly which plans are sold in your area.
Medico sells dental, vision and hearing (DVH) policies in some areas, which cover some of the routine dental, vision and hearing care that Original Medicare doesn’t cover. When paired with Original Medicare, a Medico DVH plan can provide a core of supplemental benefits for services you may routinely need throughout the year and might otherwise have to pay for out of pocket.
- Medico dental benefits can cover services like teeth cleanings, fillings, bridges, crowns, dentures, root canals and more.
- The vision care portion of these plans can cover eye exams, prescription eyeglasses and contact lenses.
- The available hearing coverage can include hearing exams and hearing aids.
Medico offers two DVH plans and one dental-only plan in certain areas. The availability of these plans may vary by state, but the features may include services such as:
- The freedom to choose any provider you wish, with the ability to save money on out-of-pocket costs when you visit a provider within the Medico network.
- The opportunity to cancel the policy within 30 days and receive a full refund minus any claims paid.
Medico Dental or DVH plans are available in the following 38 states:2
- New Mexico
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
One area where Medicare coverage can be slim is with short-term care. Medico partners with AARP to offer 5 different types of short-term care insurance.
Short-term care helps cover health care costs for up to one year, and it can be beneficial when you’re recovering from an injury or illness or when you make a transition from independent living to an assisted care facility.
While not affiliated with Medicare, a short-term care insurance policy can fill in a lot of coverage gaps where Medicare benefits fall short.
Medico offers the following 5 types of short-term care through its partnership with AARP:3
- Home health care – This covers care received in your own home administered by a home health agency.
- Adult daycare – Includes coverage for social- and health-related services for groups of 6 or more.
- Assisted living facility – This policy includes room, board and personal care coverage.
- Nursing home – Includes coverage of 24-hour skilled nursing care, intermediate care or custodial care.
- Hospice care – Coverage of compassionate care for the terminally ill who are expected to live 6 months or less.
Medico short-term care insurance policies from AARP can offer a couple of generous perks. Plan members who are receiving care can hire a licensed provider to perform household tasks – like mowing the lawn, cleaning or walking the dog – and the policy will reimburse up to $500 to cover the cost of that help.
Members may also be able to receive up to $500 as a reimbursement for care received after consulting with a care planning expert. Premium discounts, an inflation protection rider and survivorship benefits may also be available.
AM Best rates Medico an A- (Excellent) for financial strength. Medico maintains an A+ rating Better Business Bureau.
You can speak with a representative from Medico by calling 800-228-6080, where Customer Care representatives are available from 7:30 a.m. to 5 p.m. Central time, Monday through Friday. If you’re already a Medico plan member, you can create an online account to check the status of your claims, request ID cards, make payments and more.
1 Medico. (Sep. 6, 2018). Medicare Supplement Insurance. https://www.gomedico.com/products/medicare-supplement-insurance.
2 Medico. (Sep. 12, 2018). Dental Insurance Portfolio. https://www.gomedico.com/products/dental-insurance.
3 AARP. (May 1, 2020). Short-Term Care Insurance from Medico. https://aarpshort-termcareinsurance.com.