Medigap plans are an ever-changing field. There are always many new companies coming out with plans and/or expanding to new states. In the last 12 months, this has continued to hold true with some new companies expanding their business or making their rates more competitive in several states. Below, we’ve listed a rundown of those companies, some of the states they are offered, and a little bit of information about the companies themselves:
- New Era/Philadelphia American
The New Era companies (New Era, New Era of the Midwest, and Philadelphia American) have been in business for over 25 years. However, just in the last couple of years, they have become a major player in the Medicare Supplement marketplace. In many states where the plans are offered, they currently are a price-leader with the most competitive rates available. Some of the states in which the New Era companies are most competitive are:
NEW ERA/NEW ERA OF MIDWEST: Georgia, South Carolina, Pennsylvania, Texas, Louisiana
PHILADELPHIA AMERICAN: Tennessee, Alabama, Mississippi, Ohio
There are of course many other states in which their plans are offered, but the aforementioned states are ones where the plans are very competitively priced at this time.The New Era companies have a great reputation for rate-stability and have not had any significant rate increases in most states in recent years. It is a great option for someone looking to save money on their current Medigap plan.
Forethought has also been around for 25+ years. They have primarily been in the life insurance business but have moved recently to a Medigap product line to complement their life insurance business. Forethought is an ‘A’ rated company and a very stable option for those looking for Medigap plans. Here are a few of the states in which Forethought is most competitive currently:
South Carolina, Texas, Georgia, Kentucky, Indiana, Pennsylvania, Ohio, Oklahoma, North Carolina, Virginia.
If you have not compared your Medicare Supplement rates to other available options in the last 12 months, we strongly recommend doing so, whether with us or another independent broker. Rates can vary greatly, and it is highly likely that you can save money for equal coverage.
If you would like to get a Medicare supplement rates comparison by email, visit us at Medicare- Supplement.US or call us at 877.506.3378.