Medicare Supplement Plans Offered by Cigna
Medicare supplement plans offered by Cigna are insured through one of their subsidiaries; American Retirement Life Insurance Company or Loyal American Life Insurance Company. Cigna is a large insurance company specializing in offering health and life insurance products. They are a publicly traded company (NYSE: CI) and has over 15 million customers worldwide. It’s safe to say they are one of the largest health insurance companies in existence today.
If you purchase a Medicare supplement plan from Cigna your policy be insured by either ARLIC, Loyal American or Cigna Health and Life; all subsidiaries of Cigna. All Medigap policies from Cigna are guaranteed renewable for life and have a 30-day free look period, which allows you to return the policy for any reason within 30 days. In addition, you have the freedom to see any doctor that accepts Medicare, anywhere in the country.
I am going to cover the three most popular Medicare supplement plans in the marketplace today; plans F, G and N. These Medigap plans are standardized, meaning they are exactly the same no matter what company is offering them. For example, the only difference between a plan F with Cigna and a plan F with Aetna is the price. It is important to compare rates before you purchase a plan. Give us a call at (800) 208-4974 or use the online quote request to get free quotes from us.
Medicare Supplement Plan F
Plan F is the most popular Medicare supplement plan but it is not the best plan. I will explain why here shortly. Plan F is simple, it covers everything that Medicare does not pay in full. As you can see the chart below F covers 100% of what Medicare does not pay in full. However, the F plan tends to have the most rate increases when compared to G and N plans. The reason is there are many more people on plan F and they use the plan more often, creating more claims for the carriers to pay. This results in more rate increases. On average plan F increases at about 7%-10% per year. Rates for plan F with Cigna will vary by location and several other factors. Contact us for a free quote to compare.
Medicare Supplement Plan G (Best Value)
Medicare supplement plan G is almost identical to plan F, with the only exception that the Part B deductible is not covered. The advantage with plan G is that the premium difference between F and G is often more than the benefit difference. The Part B deductible is currently $183 for the year. This results in savings to you. In addition, the rate increases on plan G are much less than plan F. Plan G is a much better long term option over plan F.
Medicare Supplement Plan N
Medicare supplement plan N is the third most popular option. Plan N is a good fit for those folks who don’t see the doctor very often. The reason for this is there are copays with plan N. The following are the out-of-pocket expenses associated with a plan N:
- $0 – $20 copay at the doctor’s office
- $50 copay at the emergency room unless admitted (then waived)
- Part B excess charges not covered
- Part B deductible not covered
As you can see there are some out-of-pocket expenses with plan N. The premium savings, however can make the costs worth it. Contact us for a free quote comparison to find out what a plan N will cost you.
Cigna is a solid insurance company and is a great company to deal with. The customer service is excellent and the claims are always paid on time. To get free quotes on Cigna Medicare supplement plans or if you wish to enroll, simply call us direct at (800) 208-4974. We would be happy to help you in your decision. We are a unique insurance agency dedicated to assisting folks with Medicare. Learn how we are different here.