Best Medicare Supplement Plans in Virginia 2024
In Virginia, you have ten Medicare Supplement plans to choose from. Each of the ten plans is standardized, meaning that no matter which insurance company you purchase from or where you might live — from Richmond to Norfolk and elsewhere in the United States — you get the same coverage.
However, rates are set by each company.
Among the ten available plans, Medicare Supplement Plan G is the best 2024 choice in Virginia.
Manhattan Life Assurance Company offers the best rates on Plan G in Virginia at $94 per month.
Medicare Supplement Plan N comes in at a close second place. We also found the best rates with Manhattan Life Assurance Company at $73 monthly for Plan N.
Here is an overview of each plan:
Best Overall Value: Medicare Supplement Plan G
- Medigap Plan G has the second most robust benefits, behind only Plan F. It’s a cheaper Medicare plan that offers excellent coverage.
- Plan G covers 39% of state enrollees (171,639 individuals).
- Does NOT cover Medicare Part B deductible.
Best Value: Medicare Supplement Plan N
- You may want a plan with a cheaper monthly premium, but you might not feel like a base-level plan like Plan A will offer enough coverage. Medigap Plan N is a great compromise.
- Covers 32,518 beneficiaries.
- It provides more benefits than Plan A but not as much as Plan G or Plan F. It’s affordable for most but requires some cost-sharing.
- It does NOT cover the Part B deductible.
- It does NOT cover excess charges for Part B.
- Requires a $20 copay for office visits.
- Requires a $50 copay for emergency room visits.
Best Low-Cost Plan: High-Deductible Medicare Plan G
- High Deductible Plan G offers the same benefits as the original Plan G.
- In 2023, once you meet the $2,700 deductible, the plan covers 100% of costs.
- Significantly lower monthly premiums than the original Plan G.
Medicare Supplement Plan F
- Plan F has the most comprehensive benefit level; however, the beneficiary must have a Medicare start date before 1/1/20.
- Over 206,600 individuals are enrolled in Plan F in Virginia.
What’s the Most Popular Medicare Supplement Company in Virginia?
We have assessed various factors and concluded that Manhattan Life Assurance Company is the top Medicare Supplement plan provider in Virginia.
Although their rates are very affordable, it’s important to weigh other aspects when selecting a provider since each company has its own strengths and limitations based on its coverage options.
To help you make an informed decision, we have prepared a comparison chart between Manhattan Life Assurance Company and other Medicare Supplement providers in Virginia. This chart contains valuable information, including sample premiums and ratings.
| Company | AM Best Rating | Plan G Rates | Plan N Rates | Hi-F Rates | Plan F Rates |
|---|---|---|---|---|---|
| Manhattan Life Assurance Company | B++ | $94.42 | $73.67 | n/a | $119.58 |
| Anthem Blue Cross and Blue Shield – Virginia | A | $107.00 | $118.00 | n/a | $154.00 |
| Bankers Fidelity Assurance Company (Preferred) | A- | $109.75 | $87.03 | n/a | $135.33 |
| Ace Property and Casualty Insurance Company | A++ | $110.00 | $84.00 | n/a | $127.33 |
| SBLI USA Life Insurance Company, Inc (Prosperity) (Preferred) | A- | $110.58 | $82.91 | n/a | $122.70 |
| Allstate Health Solutions | A+ | $110.92 | $86.25 | $42.34 | $132.40 |
| American Home Life Insurance Company | B++ | $111.49 | $80.54 | n/a | $133.82 |
| Capitol Life Insurance Company | A- | $113.48 | $81.80 | n/a | $143.62 |
| United States Fire Insurance Company | A | $114.17 | $84.17 | n/a | $139.50 |
| American Benefit Life Insurance Company | A- | $114.57 | $83.74 | n/a | $139.65 |
| Humana Insurance Company | A- | $114.92 | $83.13 | n/a | $140.73 |
| Medico Corp Insurance Company (Preferred) | A | $120.84 | $93.85 | $43.89 | $146.29 |
| Elips Life Insurance Company | A | $122.17 | $92.42 | n/a | $150.83 |
| Mutual of Omaha Insurance Company | A+ | $131.10 | $96.53 | n/a | $174.85 |
| Union Security Insurance Company | B++ | $136.48 | $96.26 | n/a | $188.35 |
| Cigna Health & Life Insurance Company | A | $141.24 | $96.44 | $40.75 | $166.57 |
| Accendo Insurance Company | A | $142.61 | $93.13 | n/a | $161.94 |
| Continental Life Insurance Company of Brentwood, Tennessee (Aetna) | A | $146.52 | $97.13 | n/a | $167.18 |
| United American Insurance Company | A | $166.00 | $149.00 | $28.00 | $215.00 |
| GPM Health and Life Insurance Company | A- | $169.25 | $92.41 | n/a | $245.61 |
| Guarantee Trust Life Insurance Company | A- | $175.59 | $145.47 | n/a | $226.39 |
Choosing a Medigap Plan in Virginia
Consider the monthly premium, plan options, ratings, and reviews of insurance providers, as well as any extra discounts or benefits when choosing a Medigap Plan in Virginia.
Determine which benefits are most important to you before making a decision.
We recommend consulting our Medicare Supplement Plans Comparison Chart for a better understanding of available Medigap plans.
How Do I Enroll in a Virginia Medigap Plan?
Apply for Medicare Supplement insurance plans during your Medigap Open Enrollment Period, which is:
- The six-month period starts with the first day of your birthday month when you turn 65 or older AND
- Your enrollment in Medicare Part B
After your Medigap Open Enrollment Period, an insurer can decline your application or charge a higher premium for your insurance policy.
Guaranteed Issue Rights
When you have guaranteed issue rights, the Medicare insurance company is required to:
- Offer you a Medigap policy
- Cover pre-existing conditions
- Refrain from charging you more because you have a health condition
Our focus is on helping Medicare beneficiaries navigate their options. If you have any questions or would like to request a quote, please feel free to call us or request one online.
Frequently Asked Questions:
Anthem Blue Cross and Blue Shield, Mutual of Omaha, Cigna, and Aetna are some of the most well-known and respected options. Both offer a variety of plans designed to meet the needs of individual customers.
Medicare Supplement plans range in price from $28 – $300 per month, depending on the level of coverage desired.
The best Medicare Supplement plan in Virginia is Plan G. It can help cover costs for hospitalization, medical services, and even prescription drug coverage.
Premiums can range from $94 – $300 per month. The cost of Plan G in Virginia will depend on the carrier and the specific policy you choose.
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
- Virginia Insurance Counseling and Assistance Program
- Virginia Medigap 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.
