Medicare Supplement Plans in Kentucky
Medicare has authorized select private insurance companies to provide Medicare Supplement insurance policies (Medigap plans) in Kentucky. These policies are designed to cover the out-of-pocket expenses not covered by Original Medicare – such as coinsurance, copays, and excess charges. Furthermore, these Medigap plans can cover unforeseen foreign travel health emergencies.
While Medicare may have standard Medigap policies, their pricing and availability are impacted by a multitude of factors – age, gender, insurance provider, and state. As for Kentucky, state laws regulate these plans, as well as an insurance commissioner overseeing such policies.
When evaluating Medigap plans in Kentucky, it is essential to understand the components determining its cost and availability.
Key Takeaways:
- You have a selection of ten Medigap plans to choose from.
- Medigap Plan G is the most popular plan in Kentucky.
- Monthly premiums for Plan G vary between $96 and $290.
- Heartland Insurance Company provides the cheapest Plan G at $96.90 monthly.
What’s the Most Popular Kentucky Medigap Plan in 2023?
Medigap Plan F and Plan G are Kentucky’s most sought-after plan options.
However, there have been changes for new Medicare enrollees in Kentucky since 2020. Previously, Plan F had the most significant number of beneficiaries, with over 105,300 individuals. Unfortunately, new enrollees are no longer eligible for this plan.
The preferred alternative is now Plan G, which has attracted over 77,800 enrollees. Plan N is another popular choice, with 21,300 enrollees.
In addition to these options, several other plans are available, although they are less popular. These include Plan K with 696 enrollees, Plan L with 383 enrollees, Plan A with 842 enrollees, and Plan C with 8,543 enrollees.
You can refer to our Medicare Supplement Plans Comparison Chart for a more comprehensive understanding of these plans. It provides valuable insights to help you make an informed decision.
Who Offers the Lowest Medigap Rates in Kentucky?
Heartland National Life Insurance Company provides the most competitive rate for Plan G in Kentucky. While low rates are advantageous, it’s important also to consider other factors when choosing a Medigap insurance provider, including:
- Coverage options
- Customer service
- Financial stability
To streamline the decision-making process, we’ve created a comprehensive comparison chart that showcases how Heartland Insurance Company stacks up against other providers in Kentucky, including premium examples and ratings.
| Company | AM Best Rating | Plan G Rates | Plan N Rates | HDG Rates | Plan F Rates |
|---|---|---|---|---|---|
| Heartland National Life Insurance Company | NR | $96.90 | $85.30 | n/a | n/a |
| Ace Property and Casualty Insurance Company | A++ | $103.92 | $80.83 | $41.75 | $120.33 |
| SBLI USA Life Insurance Company, Inc (Prosperity) | A- | $105.87 | $77.89 | n/a | $117.44 |
| Elips Life Insurance Company | A | $106.17 | $81.75 | $42.50 | $127.58 |
| American Benefit Life Insurance Company | A- | $107.30 | $78.43 | n/a | $130.80 |
| Bankers Fidelity Assurance Company | A- | $107.54 | $85.71 | n/a | $169.49 |
| CSI Life Insurance Company | A+ | $108.67 | $85.83 | n/a | $155.92 |
| AFLAC | A+ | $108.85 | $80.89 | n/a | $127.36 |
| Manhattan Life Assurance Company | B++ | $108.92 | $82.67 | n/a | $134.33 |
| Allstate Health Solutions | A+ | $109.00 | $81.88 | n/a | $135.67 |
| Humana Insurance Company | A- | $116.55 | $91.45 | $41.43 | $137.45 |
| Lumico Life Insurance Company | A | $117.75 | $89.00 | n/a | $130.75 |
| Assured Life Association | NR | $124.26 | $95.09 | n/a | $166.87 |
| Medico Insurance Company (Preferred) | A | $124.46 | $96.66 | $42.94 | $150.68 |
| Capitol Life Insurance Company | A- | $125.15 | $83.04 | n/a | $154.01 |
| Union Security Insurance Company | B++ | $126.27 | $95.40 | n/a | $168.82 |
| Cigna National Health Insurance Company | A | $129.10 | $87.57 | $45.90 | $147.61 |
| Anthem Blue Cross Blue Shield – Kentucky | A | $135.25 | $160.71 | n/a | $176.11 |
| Aetna Health and Life Insurance Company | A | $144.69 | $86.30 | n/a | $215.00 |
| United World Life Insurance Company | A+ | $150.00 | $108.27 | $38.74 | $194.88 |
| Accendo Insurance Company | A | $150.44 | $123.70 | n/a | $162.35 |
| GPM Health and Life Insurance Company | A- | $172.22 | $85.41 | n/a | $245.07 |
| Guarantee Trust Life Insurance Company | A- | $190.11 | $149.26 | n/a | $236.64 |
| United American Insurance Company | A | $226.00 | $176.00 | $34.00 | $265.00 |
How Much Do Medigap Plans Cost in Kentucky?
Heartland National Life Insurance Company provides Plan G at $96.90 monthly, making it the most cost-effective option among all providers. For those interested in Medigap Plan N, American Benefit Life Insurance Company offers a competitive price of $78.43 per month.
If you prefer a budget-friendly price with High Deductible Plan G, United American Insurance Company offers this plan for just $34 per month. As for the best rate for Plan F, Ace Insurance Company stands out with a competitive price of $120.33.
Please be aware that the actual monthly premium may differ based on your insurance provider and their rating criteria.
Are All Medigap Plans Accepted Everywhere?
While Medigap plans in the United States are standardized by the federal government, it is important to note that not all healthcare providers automatically accept all Medigap plans. Acceptance typically hinges on the provider’s acceptance of Medicare. If a healthcare provider accepts Medicare, they should also accept your Medigap plan.
According to the Centers for Medicare & Medicaid Services (CMS), 98% of providers in 2022 opted to participate in Medicare.
Nevertheless, it is always advisable to check with your healthcare provider or insurance company to verify whether a specific Medigap plan is accepted before making a decision.
Do Medigap Plans Cover Dental and Vision?
Standard Medicare Supplement plans generally do not cover dental or vision care. Additionally, the following items are excluded from coverage:
- Long-term care provided in a nursing home
- Private-duty nursing services
- Prescription drug coverage (Medicare Part D)
- Cosmetic surgery procedures
- Hearing aids
Nevertheless, certain Medigap plans may provide the choice of incorporating dental, vision, and/or hearing benefits in the form of a standalone coverage plan.
What Comes Next
You can sign up for a Medigap plan by contacting one of our agents and ensuring you’re in your Open Enrollment Period or have guaranteed issue rights. Then, fill out the application and decide when you want your policy to begin.
We specialize in guiding Medicare beneficiaries through their Medicare insurance options. We work with some of the nation’s top-rated Medigap carriers to ensure you get the best possible service.
Feel free to give us a call today to learn more or request a quote online.
Frequently Asked Questions:
Medicare Supplement plans range from $34-$290 per month. In addition, the monthly premium amount may increase due to age, geographic location, or health conditions.
The best Medicare Supplement provider in Kentucky is Cigna. Cigna has a long history of providing quality insurance policies to its customers.
This plan’s monthly premium can range from $96 to $290. The exact cost of a Medicare Plan G in Kentucky will depend on the plan chosen and the coverage area.
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
- Kentucky State Health Insurance Assistance Program
- Kentucky Medicare Supplement Guide
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.
