Medicare Supplement Plans in Oklahoma
Medicare Supplement plans in Oklahoma can help cover gaps in coverage not covered under Original Medicare, including copayments, coinsurance, excess charges, and medical expenses incurred when abroad.
In Oklahoma, the costs and availability of Medigap plans are influenced by various factors such as age, gender, insurance provider, and residence state. Not only are these policies regulated by state laws but also by a commissioner of insurance within the state itself.
Oklahoma residents must thoughtfully consider a Medigap plan’s cost and availability before committing.
Key Takeaways:
- There are ten Medigap plan options to choose from.
- In Oklahoma, Medigap Plan G is the most popular choice.
- The cost for Plan G can range from $105 to $382 per month.
- American Benefit Life Insurance Company offers the cheapest Plan G at $105 per month.
What’s the Best Oklahoma Medigap Plan in 2023?
Medigap Plan F and Plan G are widely favored in Oklahoma, drawing considerable popularity among residents. Plan F in Oklahoma has the highest enrollment, with over 97,300 beneficiaries. However, it’s no longer available for new enrollees after 2020.
Plan G has become the favored alternative, attracting 72,450 new enrollees. Another popular option is Plan N, with 14,000 enrollees.
Additionally, there are less popular Medigap plan alternatives in Oklahoma: Plan C (1,673 enrollees), Plan K (758 enrollees), Plan L (586 enrollees), and Plan A (2,819 enrollees).
Carefully consider your options and choose the plan that suits your healthcare requirements. Review our Medicare Supplement Plans Comparison Chart for more details.
Which Company Offers the Cheapest Medigap Rates in Oklahoma?
American Benefit Life Insurance Company in Oklahoma offers the most affordable price for Plan G. However, when choosing a Medicare Supplement company, it’s crucial to consider other factors besides cost.
This chart compares American Benefit Life Insurance with other providers in Oklahoma, providing insights like sample premiums and ratings to help you make the best decision.
| Company | AM Best Rating | Plan G Rates | Plan N Rates | HDG Rates | Plan F Rates |
|---|---|---|---|---|---|
| American Benefit Life Insurance Company | A- | $105.03 | $79.78 | n/a | $130.39 |
| American Home Life Insurance Company | B++ | $105.29 | $76.15 | n/a | $126.38 |
| Medico Corp Insurance Company (Preferred) | A | $105.49 | $81.52 | $36.22 | $127.08 |
| Ace Property and Casualty Insurance Company | A++ | $105.75 | $80.17 | $41.75 | $121.50 |
| SBLI USA Life Insurance Company, Inc (Prosperity) | A- | $109.58 | $75.10 | n/a | $122.75 |
| Humana Insurance Company | A- | $111.32 | $80.39 | $44.10 | $127.89 |
| AFLAC | A+ | $111.55 | $77.58 | n/a | $134.27 |
| Allstate Health Solutions | A+ | $111.88 | $76.77 | n/a | $137.15 |
| United States Fire Insurance Company | A | $112.92 | $76.58 | $38.42 | $130.58 |
| BlueCross BlueShield of Oklahoma | A | $116.93 | $105.59 | $34.50 | $160.32 |
| Capitol Life Insurance Company | A- | $117.63 | $85.21 | n/a | $148.93 |
| Manhattan Life Assurance Company | B++ | $118.67 | $88.42 | n/a | $142.17 |
| Aetna Health Insurance Company | A | $122.78 | $86.38 | n/a | $152.44 |
| Elips Life Insurance Company | A | $123.67 | $90.58 | $48.00 | $144.92 |
| New Era Life Insurance Company | A- | $124.90 | $84.99 | $32.86 | $124.90 |
| Mutual of Omaha Insurance Company | A+ | $129.79 | $83.49 | $36.50 | $148.88 |
| Cigna National Health Insurance Company | A | $135.24 | $94.70 | $46.87 | $158.67 |
| Union Security Insurance Company | B++ | $141.00 | $106.03 | n/a | $172.86 |
| United American Insurance Company | A | $155.00 | $147.00 | $27.00 | $193.00 |
| Guarantee Trust Life Insurance Company | A- | $165.36 | $130.60 | n/a | $215.46 |
| Bankers Fidelity Assurance Company (Preferred) | A- | $179.42 | n/a | n/a | $214.31 |
Medigap Plan Costs in Oklahoma
American Benefit Life Insurance Company offers Plan G at a monthly premium of $105.03, while Medigap Plan N is available through American Home Life Insurance Company for $75.10.
United American Insurance Company provides the budget-friendly High Deductible Plan G at a monthly premium of $27. Ace Property and Casualty Insurance Company offers the lowest rate for Plan F, priced at $121.50.
Please note that monthly premiums for Medicare Supplement plans may vary based on several factors, such as the insurer and their rating criteria.
Are Medigap Plans Worth It?
This is a crucial question that many individuals face when considering their healthcare options. For some, the additional coverage these plans provide can significantly ease the financial burden of medical costs, making them a worthwhile investment.
However, the value of a Medigap plan can vary greatly depending on an individual’s specific health needs, financial situation, and long-term healthcare goals. Therefore, it’s imperative to conduct thorough research, shop around for the best price, consult with industry professionals, and weigh all options before deciding whether a Medigap plan is the optimal choice for you.
Make sure you understand what is and isn’t covered under the Medigap policy before signing up. The best healthcare plan is one that provides adequate coverage and fits within your budget while meeting your specific healthcare needs.
What Is the Medigap Open Enrollment Period?
If you’re 65 years of age or older and have both Medicare Parts A and B, you become eligible for Medigap Open Enrollment on the first day of your birthday month. This enrollment period spans a duration of six months, during which insurance companies are prohibited from utilizing medical underwriting to determine your acceptance or pricing.
Moreover, there are specific situations where you have the guaranteed right to purchase a Medigap policy, irrespective of your health condition or any preexisting conditions.
These situations include:
- Relocating outside the coverage area while enrolled in a Medicare Advantage Plan or Medicare SELECT Plan.
- Your current Medicare Advantage Plan discontinuing its Medicare coverage.
- Your non-Medicare insurance plan coming to an end.
- Being in your trial right period.
- Your plan coverage ending through no fault of your own.
One of our agents can help you determine if you’re within your Open Enrollment Period or have guaranteed issue rights.
We specialize in guiding Medicare beneficiaries through their Medicare insurance plan options. We work with some of the nation’s top-rated Medigap carriers to guarantee you receive excellent service.
Give us a call today to learn more or request a quote online.
Frequently Asked Questions:
These policies range from $27-$382 per month. The cost of Medicare Supplement plans in Oklahoma varies depending on the type and level of coverage.
American Benefit Life Insurance Company, United American Insurance Company, Aetna, Cigna, and Mutual of Omaha all offer a comprehensive range of coverage options.
In Oklahoma, the average monthly price range for Medigap Plan G is $105-$382.
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
- Oklahoma State Health Insurance Assistance Program
- Oklahoma Medicare Supplement Handbook
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.
