Medicare Supplement Plans in West Virginia
Medicare beneficiaries can enroll in Medicare Supplement insurance (Medigap) plans in West Virginia from private, Medicare-approved insurance companies. Medigap not only assists in covering the copays and coinsurance that Original Medicare doesn’t cover, but these policies can also offer protection against excess charges and emergency healthcare expenses while traveling abroad.
The cost and accessibility of Medigap policies are contingent on your age, gender, insurance provider, and state of residence. In West Virginia, these plans are regulated by a local insurance commissioner, and laws are enacted at a state level.
When searching for a Medigap plan that meets your budget and healthcare needs in West Virginia, it is essential to assess the cost and accessibility of all available options.
Key Takeaways:
- There are ten Medigap plans to choose from.
- In West Virginia, Medigap Plan G is the most popular.
- Plan G premiums range from $103 to $260 per month.
- American Home Life Insurance Company offers the cheapest Plan G rate in West Virginia.
What’s the Most Popular West Virginia Medigap Plan in 2023?
Medigap Plan F and Plan G stand out as the top choices among residents of West Virginia.
Since 2020, there has been a change for new Medicare enrollees in West Virginia. It is important to note that they are now ineligible to enroll in Plan F, which previously had the highest number of beneficiaries, with over 40,000 individuals.
Instead, the newly preferred option is Plan G, with an impressive enrollment of over 31,400. Another highly popular choice is Plan N, with over 8,350 enrollees.
Some of the less commonly chosen plan options are:
Who Offers the Best Medigap Rates in West Virginia?
Based on our review, American Home Life Insurance Company offers the best rate for Medigap Plan G.
While low rates can be beneficial, it is equally important to take into account additional factors when selecting a Medigap insurance provider, including:
- Coverage options
- Customer service
- Financial stability
To simplify the decision-making process, we have developed a comprehensive comparison chart highlighting how American Home Life Insurance Company compares to other providers in West Virginia.
This chart includes premium examples and ratings, offering a clear and concise overview of available options.
| Company | AM Best Rating | Plan G Rates | Plan N Rates | HDG Rates | Plan F Rates |
|---|---|---|---|---|---|
| American Home Life Insurance Company | B++ | $103.19 | $74.54 | n/a | $123.86 |
| Ace Property and Casualty Insurance Company | A++ | $107.00 | $81.00 | $42.33 | $122.75 |
| American Benefit Life Insurance Company | A- | $108.08 | $79.00 | n/a | $131.74 |
| Medico Insurance Company (Preferred) | A | $108.77 | $84.48 | $37.53 | $131.69 |
| Allstate Health Solutions | A+ | $108.94 | $81.83 | n/a | $135.59 |
| Philadelphia American Life Insurance Company | A- | $109.11 | $102.87 | $30.02 | $184.68 |
| Manhattan Life Assurance Company | B++ | $109.17 | $83.08 | n/a | $137.58 |
| Elips Life Insurance Company | A | $110.33 | $81.83 | $43.25 | $132.33 |
| SBLI USA Life Insurance Company, Inc (Prosperity) | A- | $110.60 | $78.89 | n/a | $123.87 |
| United States Fire Insurance Company | A | $111.17 | $76.58 | $37.58 | $133.17 |
| AFLAC | A+ | $112.65 | $81.04 | n/a | $134.51 |
| Mutual of Omaha Insurance Company | A+ | $113.42 | $81.57 | $43.18 | $137.97 |
| Humana Insurance Company | A- | $114.21 | $82.25 | $44.28 | $138.27 |
| Capitol Life Insurance Company | A- | $124.57 | $82.63 | n/a | $153.30 |
| Cigna Health & Life Insurance Company | A | $124.87 | $85.79 | n/a | $143.87 |
| Union Security Insurance Company | B++ | $127.27 | $93.28 | n/a | $162.01 |
| Heartland National Life Insurance Company | NR | $133.21 | $96.14 | n/a | n/a |
| Assured Life Association | NR | $135.43 | $102.31 | n/a | $274.89 |
| Accendo Insurance Company | A | $139.36 | $94.21 | n/a | $157.10 |
| American Continental Insurance Company (Aetna) | A | $140.44 | $98.13 | n/a | $167.27 |
| Guarantee Trust Life Insurance Company | A- | $166.53 | $129.74 | n/a | $203.14 |
| United American Insurance Company | A | $171.00 | $158.00 | $30.00 | $218.00 |
| Highmark Blue Cross Blue Shield West Virginia | A | $173.90 | $127.70 | n/a | $222.47 |
| Bankers Fidelity Assurance Company (Preferred) | A- | $181.61 | $115.38 | n/a | $227.75 |
How Much Do Medigap Plans Cost in West Virginia?
American Home Life Insurance Company provides Plan G at $103.19 monthly and Plan N at $74.54 monthly, making it the most cost-effective option among all providers.
If you prefer a budget-friendly price with High Deductible Plan G, United American Insurance Company offers this plan for just $30 monthly. As for the best rate for Plan F, Ace Property and Casualty Insurance Company offers a competitive price of $122.75.
However, your actual monthly premium will vary based on your insurer and how they rate premiums.
How Many Total Medigap Plans Are Available?
There are ten Medigap plans labeled as A, B, C, D, F, G, K, L, M, and N. Each plan offers specific coverage and benefits, allowing individuals to choose the most appropriate option for their healthcare and financial needs.
It’s worth noting that as of 2020, new enrollees no longer have access to Medigap plans C and F.
Explore the plans more thoroughly using our comprehensive Medicare Supplement Plans Comparison Chart.
Is Medigap More Expensive Than Medicare Advantage?
On the surface, Medigap may appear more expensive than Medicare Advantage due to its higher monthly premiums. However, it’s crucial to remember that health insurance costs aren’t just about premiums. While Medicare Advantage plans might offer lower premiums, they can often come with copayments, coinsurance, and deductibles, which can add up quickly if you need frequent medical care.
Consequently, depending on your personal health situation and requirements, Medigap could potentially be a more cost-effective solution in the long run. Therefore, it is inaccurate to generalize that one is always more expensive than the other. Each individual’s circumstances will determine which choice is financially smarter.
What Happens Next
To enroll in a Medigap plan, contact one of our agents and ensure you’re within your Open Enrollment Period or have guaranteed issue rights. After that, complete the application and choose the start date for your policy.
Our expertise lies in guiding Medicare beneficiaries through their insurance options. We collaborate with some of the nation’s top-rated Medigap carriers to provide exceptional service.
Call us today to learn more or request a quote online.
Frequently Asked Questions:
American Home Life Insurance Company is a leading provider of Medigap plans in West Virginia, offering various coverage options to meet multiple needs.
The best Medicare Supplement plan in West Virginia is Plan G. It offers comprehensive coverage for most of the gaps left by Original Medicare.
Medicare Plan G in West Virginia is $103-$260 per month on average. It provides additional coverage, such as doctor’s office visits, emergency care, and hospitalizations.
Medicare Supplement plans in West Virginia can range from $30 to $260 monthly. The cost of Medicare Supplement plans varies depending on the type of plan, the benefits offered, and the coverage level selected.
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
- West Virginia State Health Insurance Assistance Program
- West Virginia Medicare Premium Assistance Programs
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.
