Transamerica Insurance Company and has been providing insurance products since 1900. They are licensed in all states except New York and the District of Columbia. Transamerica maintains A.M.s Best rating of A+ through their parent company Transamerica. Transamerica offers Medicare supplement plans A, F, G and N in 19 U.S. states. Medicare Supplement plans are offered through Transamerica Premier Life Insurance Company, a subsidiary of Transamerica.
In July of 2015 Stonebridge Life announced they were transferring all Medicare supplement policies to Transamerica Premier Life. Stonebridge Medicare supplements are no longer marketing under the name “Stonebridge” but under “Transamerica Premier Life.”
Rates remain competitive in most states across the United States. Transamerica offers Medicare supplement plans F, G, and N among other plans.
Medicare Supplement Plans Offered By Transamerica
Medigap plans are designed to pay the “gaps” that Medicare doesn’t cover in full. Medicare pays about 80%, leaving 20% leftover. With the right Medicare Supplement plan, you will have very little out-of-pocket cost. The chart below highlights the most popular Medicare supplement programs; F, G & N.
With these plans, you can see any doctor or hospital in the country that accepts Medicare. No referrals are needed. Prices range depending on your location, age, and gender. Transamerica tends to be very competitive in many states across the country.
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Transamerica Medicare Supplement Plan F
Plan F is the most comprehensive Medicare supplement available, it is also the most expensive. As you can see in the chart above, Plan F pays for everything Original Medicare does not pay in full. Such as the Part A deductible, Part B deductible, Part B excess charges, Part B coinsurance, and Part A coinsurance. If you are someone who doesn’t mind paying more in premium to never deal with a bill, then Plan F can be the right plan for you.
Transamerica Medicare Supplement Plan G
Plan G is the most popular plan for Medicare beneficiaries with Transamerica. Plan G is exactly the same as Plan F except the Medicare Part B deductible is not covered. The deductible is $198 in 2020. Policyholders can generally save $400 or more each year with a Plan G.
Plan G covers the following:
- Part A hospice coinsurance or copayment
- Part B coinsurance or copayment
- Blood (first 3 pints)
- Part A hospital deductible
- Skilled nursing facility coinsurance
- Part B excess charges
- Foreign travel medical emergency benefit.
In addition, rate increases tend to be less on average with Plan G. This plan is considered to be the most cost-effective plan available.
Transamerica Medicare Supplement Plan N
Plan N is an affordable option for many policyholders with Transamerica. Plan N provides full coverage for the Part A deductible and coinsurance. With low co-pays for the doctor and emergency room, Plan N is a great policy for a low premium. The Medicare Part B deductible is not covered.
Plan N offers the same coverage as Plan G except the policy does not cover the following:
- Part B deductible of $198 in 2020
- $0-$20 office visit copayment
- $50 copay at the emergency room (unless admitted)
- Part B excess charges are not covered
Our Professional Opinion
As of March 2018, we recommend Transamerica as a carrier for your Medicare Supplement insurance. Recent rate adjustments from Transamerica are favorable and show they are a reliable, A+ rated company (by A.M.s Best) and a solid/stable option for your Medicare Supplement insurance.
They have an easy electronic application process and can issue policies in just a few days.
Transamerica Medicare Supplement Review
- Rate Stability
- Competitive Rates
- Market Experience
- Customer Service
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Alex Wender is the founder and CEO of Bluewave Insurance. He has been blogging about Medicare-related topics since 2010. Since then, he and his agency have helped thousands of people across the country choose the right Medicare to fit their needs.