Best Medicare Supplement Plans in Arkansas 2024
There are ten Medicare Supplement insurance plans in Arkansas; these plans help Medicare beneficiaries make the most of their benefits by paying some of the Original Medicare deductibles, copayments, and coinsurance costs.
- In Arkansas, Medicare Supplement Plan G is the best plan for 2024, followed by Plan N and High Deductible Plan G.
- Elips Life Insurance Company offers the best rates on Plan G in Arkansas, priced at $119.92 monthly.
Here is a list of the top four plans with coverage highlights:
Most Popular: Medicare Supplement Plan G
- Medigap Plan G is Arkansas’s most comprehensive Medicare Supplement insurance plan, with a current enrollment of 44,327 beneficiaries.
- Medicare Plan G offers lower premiums with almost the same benefits for those also qualified for Plan F.
- It covers the Part A deductible but not the Part B deductible.
- Covers Part B excess charges and coinsurance plus copayments and foreign travel emergency expenses.
Best Value: Medicare Supplement Plan N
- With 9,159 individuals currently enrolled, this is an option for lower monthly premiums by opting for less comprehensive coverage.
- Covers deductible for Medicare Part A.
- Plan N requires up to a $20 copay for doctor’s office visits.
- Requires up to $50 copay for emergency room visits. The copay is waived if the beneficiary is admitted.
Best Low-Cost Option: High Deductible Plan G
- High Deductible Plan G has the same benefits as a regular Plan G.
- Annual deductible of $2,800.
- Significantly cheaper than Medicare Plan G.
- Considerably cheaper than High Deductible Plan F yet covers everything in High Deductible F except for the Part B deductible.
Best Full Coverage: Medicare Supplement Plan F
- Medicare Plan F is the most comprehensive Arkansas Medigap insurance policy for beneficiaries with a Medicare Part B effective date before January 1, 2020.
- Currently, 34,855 individuals are enrolled in Plan F.
What’s the Most Popular Medicare Supplement Company in Arkansas?
After careful evaluation, we have identified Elips Life Insurance Company and Aetna as the top Medicare Supplement providers in Arkansas regarding affordability.
Although affordability is a key consideration, it is crucial to remember that cost alone should not dictate the selection of a Medicare Supplement provider. Each company possesses unique strengths and weaknesses in terms of coverage.
For a comprehensive comparison of Elips and Aetna with other Medicare Supplement providers in Arkansas, refer to the chart below. It provides valuable information, such as sample premiums and ratings, to help you make an informed decision.
| Company | AM Best Rating | Plan G Rates | Plan N Rates | HDG Rates | Plan F Rates |
|---|---|---|---|---|---|
| Elips Life Insurance Company | A | $119.92 | $119.92 | $60.00 | $182.00 |
| Ace Property and Casualty Insurance Company | A++ | $130.50 | $102.75 | $52.25 | $153.67 |
| Humana Insurance Company | A- | $133.15 | $105.16 | $53.38 | $161.42 |
| Cigna Health & Life Insurance Company | A | $138.86 | $110.47 | $49.02 | $181.44 |
| American Home Life Insurance Company | B++ | $139.34 | $106.64 | n/a | $173.04 |
| AFLAC | A+ | $141.12 | $111.61 | n/a | $164.65 |
| American Benefit Life Insurance Company | A- | $142.75 | $112.87 | n/a | $167.41 |
| Allstate Health Solutions | A+ | $142.86 | $112.62 | n/a | $161.45 |
| Mutual of Omaha Insurance Company | A+ | $143.44 | $110.58 | $48.89 | $185.80 |
| Manhattan Life Assurance Company | B++ | $145.50 | $111.25 | n/a | $192.67 |
| United States Fire Insurance Company | A | $148.67 | $107.50 | $49.25 | $178.42 |
| Continental Life Insurance Company of Brentwood, Tennessee (Aetna) | A | $152.69 | $99.96 | $40.48 | $194.09 |
| Bankers Fidelity Assurance Company (Preferred) | A- | $166.75 | $130.70 | $48.52 | $196.45 |
| New Era Life Insurance Company | A- | $167.71 | $117.77 | $43.92 | $214.84 |
| Medico Life and Health Insurance Company (Preferred) | A | $169.67 | $131.85 | $57.08 | $200.29 |
| United American Insurance Company | A | $292.00 | $188.00 | $50.00 | $284.00 |
Are Medigap Premiums Based on Income?
In most cases, Medigap premiums are not based on income. Instead, they are determined by various other factors, such as the plan you choose, your age, your location, tobacco status, and the insurance company.
However, it’s important to note that while your income doesn’t directly influence Medigap premiums, it can affect your eligibility for certain kinds of financial aid, which could indirectly impact the overall cost of your healthcare.
When Do I Enroll in a Medigap Plan in Arkansas?
Most Medicare beneficiaries apply for a Medigap plan in Arkansas during the six-month Medigap Open Enrollment Period. The enrollment period automatically starts the month you’re 65 and enrolled in Medicare Part B.
During this time, you can buy any Medigap policy sold in your state, even if you have health problems.
You can still change plans when the initial enrollment period is over, but it’s more complicated and potentially more expensive. After this enrollment period, insurers can consider your health condition, including preexisting conditions, when quoting a policy.
Please note that the Medigap Open Enrollment Period is different from the Medicare Advantage Open Enrollment Period.
Additional Info
To gain a deeper understanding of the available Medigap plans, we have developed a convenient Medicare Supplement Comparison Chart.
We specialize in guiding Medicare beneficiaries on their available options. We work closely with top-rated insurance providers to ensure you receive the highest quality service.
To determine your eligibility for enrolling in a Medigap plan, please don’t hesitate to reach out to us today or submit an online quote request.
Frequently Asked Questions:
Plans range from $40 to $284 per month; the cost of Medicare Supplement plans in Arkansas can vary significantly based on the type of plan chosen, the region of the state where you reside, and the age of the individual seeking coverage.
Cigna, Aetna, Elips Life Insurance Company, and Mutual of Omaha offer the most competitive pricing in Arkansas.
Article Resources:
- Types of Medigap Plans
- How Much Do Medigap Plans Cost?
- When Can I Apply for a Medicare Supplement Plan?
- How Do I Enroll in a Medigap Plan?
- When Can I Change Medigap Plans?
- Can I Be Denied Medigap Coverage?
- CMS Medicare Services
- Arkansas Senior Health Insurance Information Program
Disclaimer:
Average quotes are for sample purposes only. Actual premiums are based on several factors, including health conditions, age, location, tobacco status, gender, and insurance provider.
