Medico Medicare Supplement (Medigap)

Medico Medicare Supplement Coverage – What Do They Cover?

First and foremost, Medico Medicare Supplement plans cover the exact same “gaps” in Medicare as the other Federally-standardized Medigap (Medicare Supplement) plans. They go by the regular Medigap coverage chart. What this means for the Medico policyholder is that there is no difference in coverage with Medico plans vs. other plans from other companies. To put it simply, a Medico Plan G would be the exact same as a Plan G from any other company.

Typically, in most states, Medico offers both the Plan G and the Plan N (Choosing between Plan G and Plan N). Plan G is the most common and comprehensive Medigap plan, paying everything that Medicare A & B do not cover except for the Medicare Part B deductible (currently $257/year). Plan N is also a popular option, however, because it gives a lower premium in exchange for some minimal co-pays and out-of-pocket costs.

Additionally, Medico Medicare Supplement plans are still available as Plan F. In fact, in many states, Medico Plan F is one of the lowest premium Plan F options available. With the phase out of Plan F in 2020, some Medigap companies stopped offering the Plan F altogether. However, there are some companies, including Medico, that still offer the Plan F. Medico Plan F is frequently a competitive player in the remaining Plan F marketplace.

In some states, Medico Medicare Supplements do also offer the high deductible Plan G as an option. This plan is different than the regular/standard Plan G. It is a high deductible alternative with a $2870 that must be met before the plan pays anything.

Who Is the Medico Medicare Supplement Company?

Medico, headquartered today in Des Moines, IA, has been offering various types of insurance since 1929. They started small, withstood the Great Depression and expanded out from there. Today, they are known for affordable and reliable coverage and offer Medicare Supplement (Medigap) plans, final expense insurance, short-term recovery insurance, dental, vision and hearing insurance, and some other types of ancillary insurance products. Their plans are offered in 49 states and the District of Columbia.

In June of 2023, Medico and other Medico subsidiary companies became unified under one brand name, Wellabe. That re-branding was intended to unify the company under one brand name. However, in most locations, their Medicare Supplement plans are still sold using the name Medico.

What Makes Medico Medicare Supplements Stand Out?

Medico Medigap plans are the same as the Federally-standardized plans offered through other insurers. However, there are few aspects of the Medico plans that are unique:

• Very competitive pricing in most markets – Medico plans are frequently one of the lowest priced offerings in many areas of the country where they are available. If they are not the lowest priced option, they are generally within the lowest 3-4 companies in most markets.
• Household discount just for being married or having a household resident – In most states, Medico Medigap plans offer a 12% discount just for being married or having a household resident. In other words, it is not required that two people in the same household have a plan with them in order to qualify for this discount (state-specific laws may vary so it is always advisable to check with your broker for your exact rate). Should You Use a Medigap Broker?
• No waiting period for pre-existing conditions – There are no waiting periods for pre-existing conditions under Medico plans. This applies whether you are applying during your initial open enrollment period or if you already have a Medigap plan and are just looking to reduce your costs. You do have to go through medical underwriting to change from one Medigap plan to another (Medigap Underwriting), but if you are approved, there is no waiting period for coverage to begin.
• Great financial strength ratings – As outlined above, Medico has very solid AM Best ratings (A). This gives assurance that their plans are backed by a solid company with a solid financial backing. They have historically been a solid and well capitalized company.

Medico Medigap Reviews

Reviews of Medigap plans online cannot always be trusted – full stop. The one unique characteristic of Medigap plans, across all companies, is that they pay claims through the Medicare “crossover” system. This ensures that claims are paid in the same amount and on the same time schedule with all companies. So, any reviews about that aspect of a Medigap plan can be deemed negligible.

It is, however, worthwhile to consider Medigap reviews on the stability of a company over time (i.e. rate increases) and ease of contacting them for customer service. On those aspects, Medico Medicare Supplements do stand out as a leader among Medigap options. 65Medicare.org clients that have selected Medico as their Medigap company have been very pleased with service and stability of the company (Sign up for an Medico plan by sending us a message or by calling us at 877.506.3378).

Should You Consider Medico Medigap Plans?

If you are in the market for Medigap, whether new to Medicare or just looking to get a better rate, Medico Medigap plans are certainly a viable option to consider. Read More: What is the best Medigap plan? It is always prudent to check the rates for all plans in your area before selecting a Medigap plan. You can get a list of the Medigap plans, with prices and company ratings, delivered by email here: Medigap quotes by email.

If you landed on this page because you were already considering Medico Medigap as an option, allow us to help you get everything set up. As an independent broker, our service is free and we act as an ongoing advocate for you if you have any problems, questions or want to evaluate plans in the future.

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65Medicare.org is a leading, independent Medicare insurance agency for people turning 65 and going on Medicare. If you have any questions about this information, you can contact us online or call us at 877.506.3378.