Medicare Supplement insurance (Medigap) plans in Hawaii are offered by private insurance companies approved by Medicare. These policies can help cover out-of-pocket costs that Original Medicare doesn’t, like copays and coinsurance; plus, they give extra protection for excess charges or medical emergencies during your overseas trips.
Medigap policies vary in cost and availability depending on age, gender, residing state, and insurance provider. Furthermore, Hawaii’s state laws dictate the regulations of these plans, as well as a state insurance commissioner.
Before enrolling in a Hawaii Medigap plan, you must consider the factors affecting its affordability and availability.
- You have ten Medigap plans available to choose from.
- Medigap Plan G is the most popular plan in Hawaii.
- Premiums for Plan G range from $147 to $280 per month.
- Mutual of Omaha offers the cheapest rate at $147.38 monthly for Plan G.
What’s the Most Popular 2023 Hawaii Medigap Plan?
Medigap Plan F and Plan G are the most popular plans in Hawaii.
Starting from 2020, Plan F, which previously held the highest enrollment of over 7,000 beneficiaries, is no longer available to new Medicare recipients due to recent changes in effect.
Taking its place, Plan G has become the favored option among new beneficiaries, with an impressive 2,500 enrollees. It’s important to note that if your Medicare start date falls after 2020, Plan F cannot be obtained.
Following closely behind in popularity among new beneficiaries is Plan N, with over 2,300 enrollees. Among the less chosen alternatives, Plan K has 292 enrollees, Plan L has 60 enrollees, Plan A has 85 enrollees, and Plan C has 216 enrollees.
What Medigap Company Offers the Lowest Rates in Hawaii?
While Mutual of Omaha’s Medigap plans in Hawaii are cost-effective, it’s important to consider various factors when choosing the right Medicare Supplement company. Each provider has its own coverage pros and cons, so a careful evaluation and comparison is necessary before deciding.
This chart compares Mutual of Omaha with other Medicare Supplement providers in Hawaii, providing premium examples and ratings to help inform your decision.
|Company||AM Best Rating||Plan G Rates||Plan N Rates||HDG Rates||Plan F Rates|
|Humana Insurance Company||A-||$246.06||n/a||$42.18||$250.43|
|Loyal American Life Insurance Company (CIGNA)||A||$175.55||$139.97||n/a||$217.44|
|Mutual of Omaha Insurance Company||A+||$147.38||$107.43||$45.39||$390.53|
|United American Insurance Company||A||$152.00||n/a||$37.00||$253.00|
*Above reflects a sample quote for a 65 y/o female in Hawaii. Actual rates may vary.
How Much Do Medigap Plans Cost in Hawaii?
Mutual of Omaha offers the cheapest rate at $147.38 monthly for Plan G, while the lowest Medigap Plan N price is $107.43, also with Mutual of Omaha.
For the cheapest High Deductible Plan G, United American Insurance Company offers it at $37 monthly. As for the lowest Plan F rate, Loyal American Life Insurance Company (Cigna) provides it at $217.44.
Remember that your monthly premium will vary depending on several factors including your insurer and their rating criteria.
Are All Medigap Plans the Same?
Not all Medigap plans are created equal. They differ in the benefits they provide. Private companies offer Medigap and can assist in covering certain healthcare expenses that Original Medicare doesn’t, such as copayments, coinsurance, and deductibles. The United States has ten standardized Medigap plans, each denoted by a letter (A, B, C, D, F, G, K, L, M, N).
While each plan letter offers a distinct set of core benefits, policies within the same letter category must provide identical coverage. However, your monthly premium can vary based on the provider.
For a more detailed overview of the available plans, please refer to our Medicare Supplement Plans Comparison Chart.
How to Buy Medigap Insurance
You can contact one of our agents to enroll in a Medigap plan. They will assist you in determining if you are in your Open Enrollment Period or have guaranteed issue rights. Next, complete the application and indicate your desired policy start date.
At our company, we specialize in guiding Medicare beneficiaries regarding their insurance options. We collaborate with some of the nation’s highest-rated Medigap carriers to ensure that you receive exceptional service.
Frequently Asked Questions:
Premiums generally start at $50 monthly for basic coverage and can go up to $280 or more for more comprehensive plans.
Two of the most popular plans are offered by Mutual of Omaha and Cigna. Both insurance companies provide a variety of plans that can help cover a wide range of medical services.
The most popular Medicare Supplement plan is Plan G.
- 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
- Hawaii State Health Insurance Assistance Program
- Hawaii Medicare Overview
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.