Best Medicare Supplement Plans for Low-Income Seniors

Best Overall Plans
#1

Cigna

Overall Rating:
4.7 / 5
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Widest Range of Coverage
#2

Aetna

Overall Rating:
4.6 / 5
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Best Customer Service
#3

Mutual of Omaha

Overall Rating:
4.6 / 5
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If you’re one of the many Americans currently on Medicare, then you’ve probably figured out, that this service doesn’t cover everything. Sure, Original Medicare will offset the costs of hospital visits and routine health care; however, you’ll still have to come up with a way to pay for coinsurance, copayments, deductibles, and other associated costs.

Luckily, there are policies that can help cover these costs –– or gaps ––in Original Medicare. Enter Medigap, also known as Medicare Supplemental Insurance.

Which Medigap Plans Are Most Affordable?

Currently, there are ten different Medigap plan types offered by private insurers. The good news is that these plans are federally regulated, meaning that a Medigap Plan G from Aetna will provide you with the same coverage as Humana’s Plan G. With that said, the primary differences will pertain to pricing, customer service, and any extra benefits like gym discounts or smartphone apps to manage your policy.

With that said, you’ll still have many options to choose from, starting with which type of policy you’d want.

FYI: If you’re looking to learn more about a wide range of Medigap plans, regardless of cost, then check out my choices for this year’s best Medigap plans.

Why Medigap Plan N Is Ideal for Low-Income Seniors

In 2019, the average yearly income for Americans over 65 was $27,398. Between housing, entertainment, and medical costs, many people are on a budget, meaning you won’t want to add further burden through a Medigap policy. After all, Medigap is designed to help you save. Because of this, I’d recommend people look into Medigap Plan N.

While its exact price will vary by provider and the policyholder, Medigap Plan N is often one of the more affordable options. Most importantly, it covers coinsurance, copayments, and even your Medicare Part A deductible.

Here’s a full list of what Medigap Plan N includes:

Medigap Plan N Coverage

TABLE

How We Chose the Most Affordable Medigap Plans

No matter which company you choose, your Medigap policy will offer the same coverage. Still, each private insurance provider has its own idiosyncrasies that will ultimately affect your decision. Here’s what I looked for when choosing the most affordable Medigap plans.

  • Low Premiums: All Medigap Plan Ns are created equally, but their prices are not. So when looking for the best Medigap for low-income seniors, I searched for only the most affordable policies, which would save you money on your monthly premiums.
  • Bundled Savings: The companies listed here not only offer Medicare supplemental insurance, but they also offer life, home, or even auto insurance, with savings included when you purchase multiple plans.
  • Great Customer Service: When it comes to health-care costs, you probably know how tricky things can get. For this reason, I looked for insurers with transparent policies and dedicated teams of customer service professionals to help you understand your benefits.
  • Network Coverage: If you’re already using health insurance (of any form), then I assume you have a preferred doctor or health-care provider. For this reason, I looked for Medigap providers that didn’t restrict your coverage network, allowing you to keep your current health-care team.

The Best Medicare Supplement Plans for Low-Income Seniors

  • What We Like Most:

    • Large range of plans
    • Coverage for people with preexisting conditions
    • Foreign travel emergency coverage available
    • Skilled nursing facility coinsurance available
    Cigna dental saving plans for seniors.
    4.7 / 5
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    Overview

    Cigna, one of my favorite insurance providers, also offers an affordable range of Medigap plans in 31 states. In particular, their Medigap Plan N offers an affordable way to cover some of the costs that Original Medicare doesn’t.

    For example, a 70-year-old nonsmoking woman from Dallas could expect to pay $108.70 per month for their Medigap Plan N premium. What’s more, this price can drop seven percent lower if more than one person in the same household enrolls in a Cigna Medigap plan. You’ll also receive a five percent discount for signing up online.

    Cigna also includes extra perks with their Medigap policies. Users can take part in their Cigna Healthy Rewards plan, which provides discounts on home-delivered meals, free trials on home fitness classes, and savings on podiatry services. Cigna also gives subscribers access to their 24-hour Health Information Line.

    To get started with Cigna, you’ll want to check out their website. There, you can enter your personal information, receive a free quote, and also explore their other Medigap options.

    Pros

    • 24/7 customer service line
    • Household discounts
    • Easy-to-understand policies
    • Coverage in most states

    Cons

    • Relatively few plan options
  • What We Like Most:

    • Five plans to choose from
    • Additional benefits for plan members
    • No network restrictions
    • Keep your coverage even if you move
    Aetna Logo
    4.6 / 5
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    Overview

    Aetna is another great option for those interested in an affordable Medigap policy. They also offer plans, including a budget-friendly Plan N, in just about every state.

    For that same 70-year-old nonsmoking woman from Dallas, she could expect to pay $96.54 for her Plan N monthly premium, making Aetna one of the most affordable providers on this list. Aetna also offers discounted rates for multiple subscribers in the same household, making them a great option for spouse coverage.

    One of my favorite things about Aetna is that they have no network restrictions. This means your Aetna Medigap plan can be used with any doctor who accepts Medicare.

    To learn more about Aetna Medicare supplemental insurance, you can look at their website. Here, you’ll see their different policies and even receive an instant quote by typing in your birthdate and the intended date of your coverage start.

    Pros

    • Range of plans available
    • Extra perks for members
    • No network restrictions
    • Dental and prescription plans

    Cons

    • Cumbersome website
  • What We Like Most:

    • Wide range of plans
    • 12% spouse discount
    • Prescription-drug and dental options
    • No network restrictions
    Mutual of Omaha logo
    4.6 / 5
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    Overview

    One of the oldest and most trusted insurers in the United States, Mutual of Omaha offers three different Medigap plans that can help you offset the costs left over by Medicare. They’re also the only provider on this list to service all 50 states.

    For our sample person, a 70-year-old nonsmoking woman from Dallas, a Medigap Plan N policy would cost $103.15 per month. What’s more, if this woman had a roommate or spouse who also signed up with Mutual of Omaha, her premium would be lowered by 12 percent to $90.77.

    As a bonus, with Mutual of Omaha’s Mutually Well program, Medigap enrollees can receive discounts on healthy living products, fitness rebates, and even discounts on hearing aids from Amplifon.

    To get started with Mutual of Omaha, you’ll want to check out their website. Here, you can learn more about their three different policies, their benefits, and obtain a free quote in a matter of minutes.

    Pros

    • Prescription-drug and dental options
    • No network restrictions
    • Dedicated helpline
    • High-deductible options

    Cons

    • Available in only 12 states
  • #4 State Farm Medicare Supplement Insurance - Best Bundled Discounts

    What We Like Most:

    • Available in 45 states
    • Competitive pricing
    • Over 19,000 local agents for personalized service
    • Bundled savings
    State Farm Medicare Supplement Insurance
    4.6 / 5
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    Overview

    Founded in 1922, State Farm is widely known as a solid choice for auto insurance. What many people don’t know, however, is that they also offer Medicare supplemental insurance. They also offer savings if you purchase multiple insurance policies.

    For our hypothetical woman, who is 70 years old, lives in Dallas, and doesn’t smoke, she could expect to pay $131.92 for her Plan N monthly premium. She can also earn additional discounts for purchasing auto or additional health insurance through State Farm. State Farm Medigap plans can also be used with any health-care providers that accept Medicare.

    To get started with State Farm, you should visit their website. There, you can obtain a quick and free quote for different Medigap policies. I’d also recommend calling a local State Farm agent, as they’ll be able to advise you on which additional discounts you may qualify for.

    Pros

    • Over 19,000 local agents for personalized service
    • Bundled savings on multiple policies
    • Competitive pricing
    • Stable company with an extensive history

    Cons

    • No options for dental, vision, or prescription coverage
  • #5 AARP Medicare Supplement Insurance Plans - Best Educational Tools

    What We Like Most:

    • Household and electronic payment discounts
    • Plans A, B, C, F, G, K, L, and N offered
    • Helpful online resources
    AARP Medicare Supplement Insurance Plans
    4.6 / 5
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    Overview

    AARP Medigap plans, offered through UnitedHealthcare, give seniors some peace of mind when planning out their medical budgets. If you’re a current AARP member, then a policy through UnitedHealthcare can offer you significant savings.

    For a 70-year-old nonsmoking woman who lives in Dallas, she would pay about $115.91 per month for a Medigap plan N. You should also factor in that these policies are only available to AARP members, and this membership costs $16 per year.

    Where AARP Medigap really excels is in its range of educational tools. On their website, you can find an instant quote tool, in addition to detailed comparisons of what’s included in each of their plans. They’ll even break it down into the actual dollar amount you’ll be covered for various expenses like coinsurance or travel insurance.

    Pros

    • Interactive website
    • Friendly customer service
    • Wide range of plans
    • In-person appointments available

    Cons

    • Must be an AARP member to enroll
Amie Clark
Written By
Amie Clark

Amie has been writing about senior care products and services for the last decade. She is particularly passionate about new technologies that help improve the quality of life for seniors and their families. Seeing her parents and grandparents age made Amie ask herself, “Would this be good enough for my loved ones?” In her spare time, Amie enjoys outdoor adventures and spontaneous road trips. Learn more about Amie here