Medico Medicare Supplement Review
When reviewing Medico’s Medicare Supplement plans, we discovered that their premiums are, on average, 8% more cost-effective than their competitors.
Medico, a Wellabe subsidiary, offers guaranteed renewable policies and up to 7% household discounts. They also provide separate insurance policies for dental, vision, and hearing.
Despite receiving mixed customer reviews on different platforms, it is worth noting that Medico has achieved an impressive A+ rating from the Better Business Bureau.
Which Medigap Plans Does Medico Offer?
Medico provides a variety of standardized Medigap plans, including the most popular:
Medico’s Medicare Supplement plans are designed to fill the gaps in coverage left by Original Medicare. These plans can cover numerous out-of-pocket costs that Medicare Part A and Part B do not cover, such as deductibles, coinsurance, and copayments.
Enrolling in a Medigap plan with Medico exempts you from pre-existing condition waiting periods. This means any prior medical conditions are immediately covered under the policy.
How Much Does a Medigap Plan Cost With Medico?
For many folks, the monthly premium is a significant factor in deciding which Medicare Supplement plan to choose – so it’s important to review and compare several providers.
Below, you’ll find a comparison of the monthly premium costs for Medico’s top Medigap plans in relation to some competitors:
| Medigap Plan | Medico | Aflac | BCBS IL | Cigna |
|---|---|---|---|---|
| G - comprehensive coverage | $117 | $122 | $128 | $133 |
| N - budget friendly | $91 | $94 | $109 | $88 |
| F - limited eligibility | $146 | $150 | $152 | $173 |
| A - basic option | $126 | $145 | $111 | $155 |
| This analysis is specifically tailored for a 65-year-old non-smoking female living in Illinois zip code 60625, without any household discounts. | ||||
Based on this research, Medico usually offers premiums that are, on average, 8% more affordable than its competitors.
Premiums for Medigap policies vary widely depending on the plan chosen, the insurance company, the location, and the policyholder’s age.
Are There Discounts With Medico?
Medico offers several valuable discounts that apply to individuals who meet one or more of the following criteria:
- Those who arrange an automatic monthly premium payment through a checking or savings account.
- People aged 18 or over residing with someone else, regardless of whether Medico covers that person.
- Non-tobacco users.
Discount percentages may vary depending on the state, but they can reach up to 7% in some situations.
Does Medico Have Any Drawbacks?
A downside of Medico’s Medicare Supplement plans is limited availability. Only beneficiaries in the below states can enroll in Medigap coverage with Medico:
| Arizona Colorado Illinois Indiana Iowa Kansas Kentucky Louisiana Michigan | Missouri Nebraska Nevada New Mexico North Carolina Ohio Oklahoma Pennsylvania South Carolina | Tennessee Texas Utah Virginia West Virginia Wisconsin Wyoming |
Medico also faces a drawback in the form of mixed customer reviews across different platforms. While some customers express satisfaction with the service and prompt claim payment, others encounter challenges in obtaining assistance as policyholders.
Despite the mixed feedback, Medico maintains an impressive A+ rating from the Better Business Bureau.
Does Medico Provide Dental, Vision, and Hearing Plans?
Medico does offer standalone dental, vision, and hearing (DVH) plans in the below states:
| Alabama Arkansas Colorado Delaware Florida Georgia Idaho Illinois Indiana Iowa Kansas Louisiana Maine | Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Mexico North Carolina North Dakota Ohio Oklahoma Oregon | Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Washington West Virginia Wisconsin Wyoming |
Enrolling in DVH plans gives you access to several benefits, including:
| Dental | Vision | Hearing |
|---|---|---|
| Two customizable plan coverage levels: Gold and Platinum | Annual WellVision exam | Up to 48% discounts on hearing aids, tinnitus options, and more |
| First-day coverage for all services | Up to 30% savings on lens enhancements | Risk-free trial period of 60 days |
| 5% discount when either you or your spouse applies for and is issued a Wellabe Medigap plan at the same time as the dental plan | Over 41,000 providers | Free office visits for a year |
| Option to add the carry-over benefit | Extra $20 towards featured brands for frames | Financing options available |
Bottom Line
Medico is an excellent option for seniors seeking comprehensive Medigap coverage. However, availability varies by state, so potential policyholders must verify the offerings in their location.
It’s also important to compare premiums with other insurance providers in your area.
Our licensed insurance agents can help you compare the costs and benefits of Medico with other providers so you can find the perfect plan for your needs.
Sources: Medico (Wellabe) Site | | Medigap Cost | Compare Medigap Plan Benefits
FAQs
How do I enroll in a Medigap plan with Medico?
You can enroll by contacting a licensed insurance agent or calling the company directly. You can also apply online through Medico’s website.
What is the waiting period for pre-existing conditions with Medico?
Unlike some other providers, Medico has no pre-existing waiting period. Any medical conditions you had before joining Medico’s supplement plans will be immediately covered.
