Top 10 Best Medicare Supplement Insurance Companies
These top 10 insurance companies offer Medicare Supplement Insurance (also called Medigap) in most states. Our review explores each company and the plans they offer so that you can compare plans and find the best coverage for your needs.
Ranking the top 10 Medicare Supplement Insurance companies can be difficult for two reasons.
- First, Medicare Supplement plans – also called Medigap – offer benefits that are standardized in every state except for Massachusetts, Minnesota and Wisconsin. This means each company’s plans pay for the same out-of-pocket Medicare costs as the same types of Medigap plans sold by other companies.
- Second, Medicare Supplement plan prices and plan selection can fluctuate from one company to another and from one location to the next, so the “top” company in one city or state might be different from the top company in another location.
One great way to find the best Medicare Supplement Insurance companies that offer plans where you live is to compare plans for free online, with no obligation to enroll, using an independent source.
Sites like MedicareSupplement.com allow you to compare plans from several different insurance companies so that you can find the right plan for the best price in your area. They also have licensed insurance agents who can help you compare plans for free, and they can help you enroll if you find the plan you want.
With all that said, we’ve compiled a list below of 10 Medicare Supplement Insurance companies that all meet the following criteria:
- Serve a high number of beneficiaries
- Sell plans in most states
- Offer a diverse selection of plans
Any company that can check all 3 of those boxes should be considered among the top Medigap companies in the U.S. So without further ado, here are 10 of the top Medicare Supplement Insurance companies (in no particular order).
|AARP/UnitedHealthcare Pros||AARP/UnitedHealthcare Cons|
Generous plan selection
|Must be an AARP member to enroll|
|Online portal makes it easy to check claims and search for providers||Discounts may be available, but they generally decrease in dollar amount savings each year|
What's notable: Around one out of every three Medigap beneficiaries are enrolled in a plan from UnitedHealthcare and AARP.1
UnitedHealthcare is one of the top two largest insurance companies in the world.2 The company offers 9 of the 10 standardized Medigap plans that are available in most states, including the popular Plan F and Plan G.
UnitedHealthcare provides Medicare Supplement Insurance plans through a partnership with AARP, making the company a trusted source of coverage for millions of older adults.
|Anthem Blue Cross Blue Shield Pros||Anthem Blue Cross Blue Shield Cons|
Easy to bundle Medigap coverage with other Anthem benefits
|Anthem Blue Cross Blue Shield brand name plans aren't available in all states, though plans from affiliate partners may be available|
|Discounts available simply for setting up automatic payment withdrawals||Monthly plan premiums tend to be higher than competitors|
What’s notable: Anthem Blue Cross Blue Shield is just one of a number of affiliated companies that sell Medicare Supplement plans in a number of states under various names tied to Anthem and Blue Cross Blue Shield.
Anthem Blue Cross Blue Shield and their associated family of brands offer 7 different Medigap plans in various locations throughout the U.S., and as one of the nation’s largest health insurers, beneficiaries have access to the plans nearly everywhere.
Blue Cross Blue Shield is one of the most recognized brands in the insurance industry with Medicare Supplement plans that are accepted by any doctor, hospital and provider who accepts Medicare.
|Aetna Pros||Aetna Cons|
Partnership with CVS Health further stabilizes what was already a strong company.
|Medigap plans are only available in 42 states|
|Coverage is guaranteed renewable, meaning Aetna won't cancel your policy because of a health condition||A+ rating from Better Business Bureau (BBB), but average BBB customer review is only 1.05/5 stars3|
What’s notable: Aetna currently offers its members two different mobile/smartphone/tablet apps for plan members. One app helps enrollees manage their coverage, and the other helps promote healthy living.
Aetna sells 7 Medigap plans and serves customers in 44 states. Aetna is among the oldest health insurance companies around, with a long history of satisfied customers.
Aetna recently merged with CVS Health, so plan members can pair an Aetna Medigap plan with an Aetna Part D prescription drug plan to utilize one of the largest pharmacy networks in the U.S.
|Humana Pros||Humana Cons|
Wide range of plan availability across most parts of the country
|Monthly premiums can be higher than for some other insurance companies, depending on where you live|
|24/7 access to a nurse hotline||A+ rating from Better Business Bureau (BBB), but average BBB customer review is only 1.41/5 stars4|
What’s notable: Enrollment applications are typically approved in one day or less.
Humana has a consistent model for its Medigap policies, selling the same 8 plans across 47 states.
Humana offers some additional perks to its Medigap plan members in certain markets, such as memberships to fitness clubs and discounts on prescription drugs and other products and services.
|Cigna Pros||Cigna Cons|
Discounts for households with multiple policy owners and for online sign-ups
|Only four types of Medigap plans available in most areas|
|Three mobile/smartphone/tablet apps available to help plan members manage their health and their benefits||Some discounts require having a smartphone|
What’s notable: Cigna has been in business since 1792.
Cigna’s discount offers can help beneficiaries enroll in Medigap plans at affordable premiums.
The company offers 4 different Medigap plans, and the selection is diverse enough to offer something for just about everyone. Cigna also has multiple mobile apps for the more digitally savvy seniors, which can help with everything from checking on the status of a Medicare claim to paying monthly premiums.
|Mutual of Omaha Pros||Mutual of Omaha Cons|
User-friendly website to help plan member navigate their benefits and track claims
|Less Medigap plan selection in most markets|
|Strong financial ratings and long history of stability||Currently no mobile apps for plan members|
What’s notable: Domestic partners can get up to a 7% discount on Medigap plans.
Mutual of Omaha offers 3 Medigap plans, and all 3 options are among the more popular plans around, and the company sells policies in all 50 states and Washington D.C.
Mutual of Omaha has been in the Medicare market since Medicare was first established, and because the company also sells other types of policies such as life insurance and long-term care coverage, members can benefit from a more bundled approach.
|Manhattan Life Pros||Manhattan Life Cons|
7% discount for households with multiple policies
|Plans aren't available in all 50 states|
|Offers a dental, vision and hearing plan that you can pair with your Original Medicare benefits and Medigap plan||Only offers Medigap Plans A, C, F, G and N|
What’s notable: At more than 170 years old, Manhattan Life is one of the longest continuously operating companies in the U.S.
Manhattan Life sells 5 Medicare Supplement Insurance plans, including the popular Plan F, Plan C and Plan G. The company also sells a variety of other insurance products, including a dental, vision and hearing package that can be paired with a Medigap plan to give you some extra benefits that Original Medicare (Medicare Part A and Part B) doesn’t typically cover.
|Bankers Fidelity Pros||Bankers Fidelity Cons|
Plan selection is relatively large for a company of its size
|Plans may not be available in 13 states including CA, NY and FL|
|Medigap plan coverage is guaranteed renewable||Doesn't offer Medicare Part D prescription drug plans|
What’s notable: Bankers Fidelity has been selling Medigap plans for more than 30 years.
Bankers Fidelity is unique because unlike the other insurance companies on this list, all of Bankers Fidelity insurance plans are designed specifically for seniors. Many consumers like the senior-focused style of Bankers Fidelity in addition to the 8 Medigap plans offered by the company.
|Transamerica Pros||Transamerica Cons|
Strong company financial ratings and stability
|Doesn't offer much Medicare Supplement information on their company website|
|Year-to-year premium increases are typically below industry averages||Company is more focused on life insurance products than on Medicare health plans|
What’s notable: Transamerica has only offered Medigap plans since 2015.
Transamerica employs close to 8,000 people in the Americas is over 100 years old.
|Medico Pros||Medico Cons|
Strong company ratings and financial stability
|Only a limited number of plans available in some states|
|Medigap policies are guaranteed renewable for life||Typical premiums for Medigap Plan F are higher than Plan F from other companies|
What’s notable: Medico has been offering insurance designed specially for older adults since well before the Medicare program began.
Medico offers 4 Medigap plans serving beneficiaries in 25 states, with a number of various discounts that may be available depending on where you live. The company supplements its Medigap selection with a lineup of related products such as short-term care insurance, hospital indemnity insurance and more.
While the above companies made our list of top 10 Medigap companies, there may still be some other solid and reputable insurance companies that offer Medicare Supplement plans near you, depending on where you live.
These companies can include, in no particular order:
Not every insurance company sells Medicare Supplement Insurance in every state. And even each company’s plan selection can vary within the states it does serve. Choosing a Medicare Supplement Insurance company begins with choosing one that serves the area in which you live.
After identifying which companies sell plans in your location, the next step is to determine which Medigap plan is right for your needs. Learn the benefits of each type of plan and decide where you need the most coverage.
Next, compare prices. One company’s Plan G might cost more than another company’s Plan G despite the two options both offering the same coverage. Also be sure to check out any discounts available from each company.
Lastly, consider factors such as an insurance company’s financial strength ratings, customer service reviews and overall reputation to ensure you can trust them with your business.
Working with a licensed insurance agent or Medicare insurance broker can also help you sort through your options and answer your questions before guiding you through the enrollment process once you find a plan you like.
1 Mark Farrah Associates. (April 2020). December 2019 Medigap Enrollment & Market Share. https://www.aarpsupplementalhealth.com/content/dam/uhcmedsupstats/2020MedigapReports/WB27275ST.pdf.
2 AM Best Information Services. (Jan. 4, 2021). AM Best Ranks UnitedHealth Group and Allianz as World’s Largest Insurers. http://news.ambest.com/PressContent.aspx?altsrc=2&refnum=30256.
3 Better Business Bureau. Aetna Inc. Business Profile. Ratings as of May 24, 2021, and are subject to change. https://www.bbb.org/us/ct/hartford/profile/insurance-companies/aetna-inc-0111-71.
4 Better Business Bureau. Humana Inc. Business Profile. Ratings as of May 24, 2021, and are subject to change. https://www.bbb.org/us/ky/louisville/profile/health-insurance/humana-inc-0402-2004402.