Medicare Supplement Plans in Mississippi
Medicare Supplement plans in Mississippi are insurance policies that help cover expenses that Original Medicare doesn’t, such as copays and coinsurance. They may also offer additional coverage for excess charges or medical emergencies while traveling overseas.
Age, gender, insurance provider, and state of residence can all impact the cost and availability of your chosen Medigap plan. In Mississippi, these plans are overseen by state-enacted laws and an appointed insurance commissioner.
If you are a resident of Mississippi and looking into Medigap plans, it is important to be aware of the numerous factors that affect its cost and access.
Key Takeaways:
- You have a selection of ten Medigap plans to choose from.
- In Mississippi, Medigap Plan G is the most popular plan.
- Premiums for Plan G range from $96 to $382 monthly.
- Ace Insurance Company provides the most affordable Plan G in Mississippi.
What’s the Most Popular Mississippi Medigap Plan in 2023?
Medigap Plan F and Plan G are the most widely chosen in Mississippi.
Plan F was the top choice, with over 83,250 beneficiaries, but it’s no longer available to new enrollees after 2020. As a result, Plan G has become the favored alternative, with 65,600 new enrollees.
Plan N is also gaining popularity, with over 10,900 enrollees among new beneficiaries. Additionally, some lesser-known options include Plan C with 1,653 enrollees, Plan K with 546 enrollees, Plan L with 273 enrollees, and Plan A with 1,016 enrollees.
When selecting a plan, weighing your options and choosing the one that best meets your healthcare needs is important.
Which Company Offers the Lowest Medigap Rates in Mississippi?
Ace Property and Casualty Insurance Company provides Mississippi’s most affordable Plan G. When choosing a provider, it is crucial to evaluate their individual coverage policies and benefits carefully.
To assist you in making an informed decision, we have developed a comprehensive comparison chart that includes key details such as sample premiums and ratings:
| Company | AM Best Rating | Plan G Rates | Plan N Rates | HDG Rates | Plan F Rates |
|---|---|---|---|---|---|
| Ace Property and Casualty Insurance Company | A++ | $96.92 | $74.00 | $38.75 | $112.17 |
| Allstate Health Solutions | A+ | $98.60 | $77.92 | n/a | $119.18 |
| S.USA Life Insurance Company, Inc (Prosperity) (Preferred) | A- | $102.29 | $74.81 | n/a | $113.72 |
| Manhattan Life Assurance Company | B++ | $102.92 | $79.67 | n/a | $129.75 |
| American Home Life Insurance Company | B++ | $103.19 | $74.54 | n/a | $123.86 |
| Medico Corp Insurance Company (Preferred) | A | $105.23 | $81.73 | $36.31 | $127.40 |
| American Benefit Life Insurance Company | A- | $106.45 | $78.87 | n/a | $131.82 |
| AFLAC | A+ | $107.23 | $76.41 | n/a | $123.12 |
| United States Fire Insurance Company | A | $108.33 | $75.83 | $39.08 | $130.25 |
| Humana Insurance Company | A- | $113.09 | $90.90 | $43.60 | $131.52 |
| Elips Life Insurance Company | A | $113.83 | $87.25 | $45.50 | $138.92 |
| Continental Life Insurance Company of Brentwood, Tennessee (Aetna) | A | $114.95 | $80.30 | $41.57 | $142.19 |
| New Era Life Insurance Company | A- | $117.90 | $84.75 | $30.80 | $166.16 |
| Capitol Life Insurance Company | A- | $120.99 | $89.78 | n/a | $155.90 |
| Cigna National Health Insurance Company | A | $124.40 | $89.00 | n/a | $44.28 |
| Union Security Insurance Company | B++ | $124.59 | $92.22 | n/a | $161.59 |
| United World Life Insurance Company | A+ | $131.92 | $103.85 | $39.74 | $151.83 |
| American Retirement Life Insurance Company (CIGNA) | A | $151.91 | $126.77 | n/a | $211.27 |
| GPM Health and Life Insurance Company | A- | $157.02 | $81.94 | n/a | $208.73 |
| Guarantee Trust Life Insurance Company | A- | $173.79 | $137.72 | n/a | $211.99 |
| United American Insurance Company | A | $188.00 | $168.00 | $29.00 | $236.00 |
| Cigna National Health Insurance Company | A | HDG | $44.28 | n/a | |
| United American Insurance Company | A | HDG | $29.00 | n/a | |
| Bankers Fidelity Assurance Company (Preferred) | A- | n/a | $181.35 | n/a | $222.42 |
How Much Do Medigap Plans Cost in Mississippi?
The following are the lowest Medigap plan rates available from different insurance companies:
- Plan G from Ace Property and Casualty Insurance Company costs $96.92.
- Plan N from United American Insurance Company costs $29.
- High Deductible Plan G is also from United American Insurance Company and costs $29.
- Plan F from Cigna National Health Insurance Company costs $44.28.
Your actual monthly premium may vary based on several factors, but we’re here to help find the best option for you.
Why Is Medigap Plan F Discontinued?
Medigap Plan F was discontinued due to the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA). This legislation prohibited Medigap policies from covering the Part B deductible for newly eligible Medicare beneficiaries after January 1, 2020.
As Medigap Plan F offered coverage for the Part B deductible, it was no longer available to those new to Medicare starting in 2020. However, individuals already enrolled in Plan F before this date can continue to enjoy its benefits.
How Do I Compare Medigap Plans?
When comparing Medigap plans, consider several key factors to ensure a fit that suits your individual health needs and budget. Start by understanding the basics of each Medigap policy, from Plan A through Plan N. Each offers different levels of coverage, with Plan A covering the least and Plan F and G covering the most.
Next, consider your personal health situation and forecast future needs. If you frequently visit the doctor or anticipate major surgeries, a plan with extensive coverage may be beneficial. Conversely, a basic plan might suffice if you’re generally healthy and have significant savings. Also, consider the cost of premiums versus out-of-pocket expenses.
Finally, it’s important to understand that each insurance company may price its policies differently despite offering identical coverage. This makes comparing quotes from multiple providers an essential aspect of the process.
You can compare the plans further by reviewing our Medicare Supplement Plans Comparison Chart.
Ready to Sign Up for a Medigap Plan?
To enroll in a Medigap plan, simply contact one of our agents during your Open Enrollment Period or if you have guaranteed issue rights.
Our team specializes in providing expert guidance on Medicare insurance options and collaborates with top-rated Medigap carriers to ensure you receive the highest level of service.
If you would like to learn more or request a quote, please don’t hesitate to give us a call or submit an online request.
Frequently Asked Questions:
Medicare Supplement plans may cost $29-$382 monthly. The cost can vary based on several factors, including the plan type, age, and location.
Aetna and Cigna are two of the most popular choices for those seeking a comprehensive coverage plan tailored to their needs. Ace Insurance Company and Allstate Health Solutions offer the lowest rates for Plan G.
Medigap Plan G in Mississippi typically costs around $92 to $250 monthly, depending on the provider and any applicable discounts.
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
- Mississippi State Health Insurance Assistance Program
- Mississippi Insurance Department Website
- Mississippi Medicare Supplement Shopper’s 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.
