Company Background
Transamerica Insurance Company and has been providing insurance programs 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 insurance plans A, F, G, and N in 19 U.S. states. Medicare Supplement plans are offered through Transamerica Life and Transamerica Premier Life Insurance Company, a subsidiary of Transamerica, headquartered in Cedar Rapids, IA.
The parent company is Aegon N.V., Dutch multinational life insurance, pensions, and asset management company that is headquartered in the Netherlands. In addition to Medicare Supplement insurance, Transamerica offers other financial products such as mutual funds and retirement solutions through Transamerica Financial
In July of 2015 Stonebridge Life insurance company announced they were transferring all Medicare supplement policies to Transamerica Premier Life. Stonebridge Medicare supplements programs 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 Benefits | Plan F | Plan G | Plan N |
| Medicare Part A Coinsurance | 100% | 100% | 100% |
| Medicare Part B Coinsurance | 100% | 100% | 100% ** |
| Blood (First 3 Pints) | 100% | 100% | 100% |
| Part A Hospice Coinsurance | 100% | 100% | 100% |
| Skilled Nursing Facility Coinsurance | 100% | 100% | 100% |
| Medicare Part A Deductible | 100% | 100% | 100% |
| Medicare Part B Deductible | 100% | X | X |
| Medicare Part B Excess Charges | 100% | 100% | X |
| Foriegn Travel* | 80% | 80% | 80% |
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 minimal out-of-pocket cost. The chart below highlights the most popular Medicare supplement programs; F, G & N.
With these Medigap 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 that Original Medicare does not pay in full, such as Part B deductible, Part B deductible, Part B excess charges, Part B coinsurance, and Part A coinsurance.
If you don’t mind paying more in premium to never deal with a bill, then Plan F can be the right plan for you.
Read more: What is the future of Plan F?
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 $240 in 2024. 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.
Learn more: Plan F vs G
Folks that are 65 or older and currently are enrolled in Medicare Part A and Part B are eligible to sign up for Transamerica Medigap plans. Also, folks who are under 65 and entitled to Medicare Parts and B.
Transamerica Medicare supplement is available in most states. Rates also vary state by state, so it’s best to consult with a licensed insurance agent to compare rates and companies.
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 Part B coinsurance. Plan N is a great policy for a low premium with low co-pays for the doctor and emergency room. 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 $240 in 2024
- $0-$20 office visit copayment
- $50 copay at the emergency room (unless admitted)
- Part B excess charges are not covered
Transamerica Medigap Plan G or Plan N
When choosing between Medicare supplement Plan G or Plan F, you need to look at your long-term plan and short-term plan. Although Plan N may seem like the more affordable choice, saving you money each month, it can leave some gaps in your coverage such as copays and Part B excess charges. With Plan N, you’ll have to pay for doctor’s visits and emergency room copays. With Plan G, all of that is covered.
If you are expected to need more medical care in the future, then Plan G’s comprehensive Medicare supplement plan is best for you. However, if you don’t frequent the doctors or specialist, a good short term plan would be to sign up for Plan N.
Read More: Plan G vs N
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Contact us at (800) 208-4974 or request a free quote. We would love to help guide you in your choice for a Medicare supplement plan.
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.
