Best Medicare Supplement Plans in Iowa
Aetna and Mutual of Omaha offer the best Medicare Supplement plans in Iowa.
Aetna’s Plan G provides the most comprehensive coverage with the best rates. Mutual of Omaha’s Plan N is a solid runner-up for a lower-cost option. Key features that stand out for both companies are household discounts, fast underwriting, affordable monthly premiums, and high customer satisfaction rates.
-
Best Plan G: Aetna
$108.21 per month (average)
Plan Highlights:
- Optional Part D prescription drug plans
- Optional dental & vision insurance plans
- No annual benefit changes
- Freedom to visit any doctor that accepts Original Medicare
- Long-term history within the Medicare industry
-
Best Plan N: Mutual of Omaha
$77.24 per month (average)
Plan Highlights:
- Optional Part D prescription drug plans
- No annual benefit changes
- Freedom to visit any doctor that accepts Original Medicare
- Height & weight can affect rates
- Long-term history within the Medicare industry
When researching the best Medicare Supplement plans in Iowa, we focused on two main factors: plan options that are budget-friendly and are offered by insurance companies with solid long-term financial strength. You may often see new, “no-name” insurance companies enter the market and boast lower rates; however, these initial lower rates often increase significantly after the first year. For this reason, we recommend considering only the brands you know and trust.
What Is the Best Medicare Supplement Company in Iowa?
The overall best Medigap provider in Iowa is Aetna. At a glance, Aetna Medigap plans are usually the lower-cost options in Iowa, which is one of the reasons they are the most popular in our review.
However, there are other factors to consider, such as which plan letter suits your healthcare needs. Let’s start by clarifying the difference between plans, letters, companies, etc.
- Medigap coverage is standardized by plan letter; generally, Plans A through N are offered in most states (with some exceptions).
- Private insurance companies work with Medicare to offer this standard selection of plan letters to healthcare consumers. This means that the plan benefits you get for Plan G with Aetna will be the same as your plan benefits for Plan G with Mutual of Omaha.
- However, these companies may offer different rates for Plan G based on their criteria for coverage. Therefore, the best Medicare Supplement company for you may depend on the plan letter you’re considering.
How to decide?
First, narrow down which plan letter offers the coverage you need based on health status and budget. Then, be sure you are comparing apples to apples when considering plan rates; a lower rate may translate to less coverage, which can be disastrous to discover down the road.
Here is a breakdown of the top Medigap insurance carriers in the state of Iowa for broad comparison:
| Company | Market Share | Plan G Cost | Plan N Cost | Rate Increase (Last 5 years) | Financial Strength |
| BCBS of Iowa | 56.08% | $137 | $106 | 5.8% | A |
| Aetna (CVS Group) | 13.48% | $108 | $79 | 4.0% | A+ |
| Mutual of Omaha Group | 5.88% | $111 | $77 | 2.0% | A |
| UnitedHealth Group | 5.09% | $106 | $95 | 1.0% | A- |
| Cigna Health Group | 2.26% | $114 | $75 | 7.0% | A |
| USAA | 1% | $137 | $116 | 4.5% | A++ |
| Comparison of the top five companies with the largest market share in Iowa. Quotes are the average monthly rate in Iowa for a 65-year-old female nonsmoker. Rate increase history is the average over the last five years. Financial strength is based on AM Best ratings. | |||||
Now let’s take a closer look at the two plans that generally offer the richest coverage for consumers in Iowa and the companies that deliver the most competitive rates for those plans.
Best Plan G Rates: Aetna
- Plans offered: A, B, C, D, F, G, N, HDF, HDG
- Most popular plan: G
- AM Best Rating: A
- Medicare coinsurance & copayments
- Part A deductible
- Foreign travel emergency medical expenses
- Part B excess charges
- Hospice care coinsurance and copayments
- Skilled nursing facility care coinsurance
- Plan G: $108.21 to $200 per month
- Plan G: $112 to $210 per month
Best Plan N Rates: Mutual of Omaha
- Plans offered: A, B, C, D, F, G, N, HDF, HDG
- Most popular plan: G
- AM Best Rating: A+
- Medicare coinsurance & copayments
- Part A deductible
- Foreign travel emergency medical expenses
- Hospice care coinsurance and copayments
- Skilled nursing facility care coinsurance
- Plan N: $77.19 to $102.32 per month
- Plan N: $77.24 to $107.81 per month
Note: Most plans have no networks, so you can see any medical provider or doctor who accepts Medicare.
How Much Does a Medigap Plan Cost in Iowa?
An Iowa Medicare Supplement plan’s average cost can range from $78 to $305 per month. Your age and plan choice will have a significant impact on your premium.
| Medigap Plan | Monthly Cost | Plan Popularity in Iowa | |||
| Plan F | $118 | 60% | |||
| Plan G | $108 | 45% | |||
| Plan N | $77 | 25% | |||
| High Deductible G | $36 | 15% | |||
| Plan A | $86 | 8% | |||
| Plan K | $45 | -1% | |||
| Quotes are for sample purposes only. Prices are the average monthly rate in Iowa for a 65-year-old female nonsmoker. Part B start date and or medical underwriting may affect your rate. | |||||
How Does Age Affect Rates?
-
Rating Methods:
Attained-age
- Based on your age. As you get older, the premiums go up. Although they may look less expensive when you are younger, they may become the most expensive as you age.
Issue-age
- Based on your age when you buy the Medigap plan. The premium rate does not increase as you age.
Community-rated
- Not based on age. The rate is the same for everyone, regardless of age.
Both issue-age and community rated premiums may increase in cost over time because of external factors such as inflation, but they will not increase because of a person’s age.
The Bottom Line
- Aetna Medigap insurance plans are outstanding, providing low rates and household discounts in most states.
- Mutual of Omaha boasts excellent value and longevity. They also do a great job with their quick enrollment process and are known to pay their claims on time.
- Our Aetna and Mutual of Omaha clients often remain enrolled for many years, making them our top two choices for Medigap coverage in Iowa.
Aetna & Mutual of Omaha are both great insurance companies, but everyone’s situation is different. Understanding your overall needs and eligibility status regarding supplemental coverage is critical.
So here’s how we help you decide:
- First, we determine if you are brand new to Medicare Part A and Medicare Part B. If yes, this will eliminate medical underwriting, which can vary by company.
- Next, we determine your location, age, and smoker status – this will guide us to the lowest-priced company.
- Lastly, we look at your budget, which helps us determine which company will be the most affordable without sacrificing coverage.
Frequently Asked Questions
- When Is the Best Time to Enroll in a Medigap Plan?
- Is There a Medicare Supplement That Covers Everything?
- What Companies Sell Medigap Plans in Iowa?
Ready to Learn More?
Choosing the right Medicare Plan is not a decision to be taken lightly. With Policy Guide’s assistance, you will have access to the knowledge and expertise of professional agents who can help you compare different health plans, prices, and policies to ensure that you make an informed decision. Let us guide you through this process so your chosen plan best suits your needs.
Article Resources
