Transamerica Medicare Supplement Plan Review
Transamerica Medicare Supplement
Just imagine how much you could be charged from a doctor or hospital if you didn’t have insurance. Remember that you’re on the hook for 20% of the costs of care and Original Medicare covers 80%. A Transamerica Medicare Supplement can help protect you from any unexpected costs that can pop up at anytime. REMEDIGAP is a licensed broker and we’re proud to offer Transamerica to our clients.
About Transamerica
Is Transamerica one of the top Medicare Supplement companies available? They began over a century ago as the Bank of Italy, located in San Francisco in 1904.
In 1928, the Bank of Italy merged with Bank of America. Fast forward a couple years and they acquired the Occidental Life Insurance Company through their newly created holding company, Transamerica Corporation.
Transamerica Ratings
Transamerica has received positive reviews from all of the major rating organizations. Transamerica insurance ratings can be seen below:
Transamerica Details
| DETAILS | RATING |
|---|---|
| A.M. Best Rating: | A+ |
| Standard & Poor’s: | A+ |
| Moody’s: | A1 |
| Fitch: | A+ |
| J.D. Power & Associates: | 732 |
| Better Business Bureau: | A- |
| Phone: | 1-800-797-2643 |
| Address: | 4333 Edgewood Road NE, Cedar Rapids, IA 52499 |
| Website: | https://www.transamerica.com |
Transamerica Medicare Supplement Reviews
With a Medicare Supplement policy from Transamerica you will get the following:
- 30-day free-look-period
- Guaranteed renewable health insurance coverage
- See any physician that accepts Medicare
- Initial 12-month rate lock-in
Advantages of working With Transamerica:
- Easy electronic application
- Policies issued usually in 3-5 days
- Simple, no hassle customer service
How much do Transamerica medicare supplement plans cost?
Monthly premiums vary depending on a several factors. These can include your location, gender, age, tobacco use and your health. To get an idea of accurate rates of the most popular Medigap plans, we can provide you a custom quote. Get started by clicking on “GET QUOTES” on this page.
Let’s take a look at the most popular policies.
Transamerica Medicare Supplement Rates
We know price is an important factor in what policy you buy. The company offers Medicare supplement plan options at very competitive rates across the U.S. For the most current rates, use our Medigap calculator on our website. Medicare plans vary in cost depending on your age, state and other factors.
Which Medicare Supplement Insurance Plans Does Transamerica Offer?
There are 10 standardized Medigap policies available to beneficiaries. Let’s look at the 3 most popular ones that Transamerica offers.
Transamerica Medicare Supplement Plan F
Medigap Plan F is the most comprehensive policy that you can buy. It will pay for all of your Medicare-approved services. With a supplement, you can receive healthcare services from any physician or hospital that participates in Original Medicare. Transamerica’s policies helps covering the coverage gaps you’ll have with Medicare. It covers both your Medicare Part A and B deductibles and your 20% Coinsurance for Medicare-covered services that you would otherwise pay for yourself. Note, it is only available if you are Medicare eligible before January 1, 2020.
Transamerica Medicare Supplement Plan G
Transamerica Medigap Plan G is a better value compared to Plan F. It’s possible to get a lower Premium because you (the policyholder) must satisfy the annual Part B Deductible before the plan starts paying. Plan G coverage includes:
- Part A Hospice Copayment or coinsurance
- Part A hospital deductible
- Part B copayment or coinsurance
- Part B Excess charges
- Your first 3 pints of blood
- Coinsurance for Skilled nursing facility (SNF)
- Foreign travel medical emergency benefit.
- (It doesn’t cover the Part B Deductible)*
Plan G is very appealing to shoppers because of the predictable out-of-pocket costs. Be sure to check up our review of Plan F vs Plan G to compare their coverage differences.
Transamerica Medicare Supplement Plan N
Medigap Plan N is becoming a popular option and it’s great for people that don’t visit their physician frequently. It’s also good for recent retirees who are familiar and comfortable with copays, deductibles and coinsurance. Here are the out-of-pocket expenses that are associated with Plan N:
- Doctor’s office visit: $0 – $20 copay
- Emergency room visit (unless admitted; then waived): $50 copay
- Part B excess charges is not covered
- Part B deductible is not covered
The savings you get can make the out-of-pocket expenses worth it. We can check the Plan N premiums in your area and quickly see if it’s a better value for your money.
ATTENTION
As of January 1, 2020, Plans C, F and High Deductible F cannot be sold to those newly eligible for Medicare coverage. Newly eligible is defined as anyone who: (a) attains age 65 on or after January 1, 2020.
~ Medicare
transamerica plan benefits
Here’s a breakdown of services and costs.
You’ll be able to review Part A & B Services; what Original Medicare pays; what Plans F, G and N pays; and what you’ll pay.
Medicare Supplement Plan F Benefits
Part A | |||
| Services | Medicare Pays | This Plan Pays | You Pay |
|---|---|---|---|
| Hospitalization | |||
| First 60 Days | All But $1,556 | $1,556 (Part A Deductible) | $0 |
| 61st Through 90th Day | All But $389 a Day | $389 a Day | $0 |
| 91st Day and After (60 Reserve Days) | All But $778 a Day | $778 a Day | $0 |
| After Reserve (Additional 365 Days) | $0 | 100% of Eligible Expenses | $0 |
| Beyond the Additional 365 Days | $0 | $0 | All Costs |
| Skilled Nursing Facility Care | |||
| First 20 Days | All Approved Amounts | $0 | $0 |
| 21st Through 100th Day | All But $176.00 a Day | Up to $176.00 a Day | $0 |
| 101st Day and After | $0 | $0 | All Costs |
| Blood | |||
| First Three Pints | $0 | 100% | $0 |
| Additional Amounts | 100% | $0 | $0 |
| Hospice Care | |||
| You must meet Medicare’s requirements, including a doctor’s certification of terminal illness | All but very limited copayment / coinsurance for outpatient drugs and inpatient Respite care | Medicare copayment / coinsurance | $0 |
Part B | |||
| Services | Medicare Pays | This Plan Pays | You Pay |
|---|---|---|---|
| Medical Expenses | |||
| 1st $198 of Approved Amounts | $0 | $233 (Part B Deductible) | $0 |
| Remainder of Approved Amounts | Generally 80% | Generally 20% | $0 |
| Part B Excess charge | $0 | 100% | $0 |
| Blood | |||
| First Three Pints | $0 | 100% | $0 |
| Next $198 of Approved Amounts | $0 | $203 (Plan B Deductible) | $0 |
| Remainder of Approved Amounts | Generally 80% | Generally 20% | $0 |
| Clinical Laboratory Services | |||
| Tests for Diagnostic Services | 100% | $0 | $0 |
| Foreign Travel | |||
| 1st $250 each calendar year | $0 | $0 | $250 |
| Remainder of Charges up to a lifetime maximum of $50,000 | $0 | 80% | 20% |
Medicare Supplement Plan G Benefits
Part A | |||
| Services | Medicare Pays | This Plan Pays | You Pay |
|---|---|---|---|
| Hospitalization | |||
| First 60 Days | All But $1,556 | $1,556 (Part A Deductible) | $0 |
| 61st Through 90th Day | All But $389 a Day | $389 a Day | $0 |
| 91st Day and After (60 Reserve Days) | All But $778 a Day | $778 a Day | $0 |
| After Reserve (Additional 365 Days) | $0 | 100% of Eligible Expenses | $0 |
| Beyond the Additional 365 Days | $0 | $0 | All Costs |
| Skilled Nursing Facility Care | |||
| First 20 Days | All Approved Amounts | $0 | $0 |
| 21st Through 100th Day | All But $176.00 a Day | Up to $176.00 a Day | $0 |
| 101st Day and After | $0 | $0 | All Costs |
| Blood | |||
| First Three Pints | $0 | 100% | $0 |
| Additional Amounts | 100% | $0 | $0 |
| Hospice Care | |||
| You must meet Medicare’s requirements, including a doctor’s certification of terminal illness | All but very limited copayment / coinsurance for outpatient drugs and inpatient respite care | Medicare copayment / coinsurance | $0 |
Part B | |||
| Services | Medicare Pays | This Plan Pays | You Pay |
|---|---|---|---|
| Medical Expenses | |||
| 1st $198 of Approved Amounts | $0 | $0 | $233 (Part B Deductible) |
| Remainder of Approved Amounts | Generally 80% | Generally 20% | $0 |
| Part B Excess Charge | $0 | 100% | $0 |
| Blood | |||
| First Three Pints | $0 | 100% | $0 |
| Next $198 of Approved Amounts | $0 | $0 | $233 (Plan B Deductible) |
| Remainder of Approved Amounts | Generally 80% | Generally 20% | $0 |
| Clinical Laboratory Services | |||
| Tests for Diagnostic Services | 100% | $0 | $0 |
| Foreign Travel | |||
| 1st $250 during 1st 60 days | $0 | $0 | $250 |
| Remainder of Charges up to a lifetime maximum of $50,000 | $0 | 80% | 20% |
Medicare Supplement Plan N Benefits
Part A | |||
| Services | Medicare Pays | This Plan Pays | You Pay |
|---|---|---|---|
| Hospitalization | |||
| First 60 Days | All But $1,556 | $1,556 (Part A Deductible) | $0 |
| 61st Through 90th Day | All But $389 a Day | $389 a Day | $0 |
| 91st Day and After (60 Reserve Days) | All But $778 a Day | $778 a Day | $0 |
| After Reserve (Additional 365 Days) | $0 | 100% of Eligible Expenses | $0 |
| Beyond the Additional 365 Days | $0 | $0 | All Costs |
| Skilled Nursing Facility Care | |||
| First 20 Days | All Approved Amounts | $0 | $0 |
| 21st Through 100th Day | All But $176.00 a Day | Up to $176.00 a Day | $0 |
| 101st Day and After | $0 | $0 | All Costs |
| Blood | |||
| First Three Pints | $0 | 100% | $0 |
| Additional Amounts | 100% | $0 | $0 |
| Hospice Care | |||
| You must meet Medicare’s requirements, including a doctor’s certification of terminal illness | All but very limited copayment / coinsurance for outpatient drugs and inpatient respite care | Medicare copayment / coinsurance | $0 |
Part B | |||
| Services | Medicare Pays | This Plan Pays | You Pay |
|---|---|---|---|
| Medical Expenses | |||
| 1st $198 of Approved Amounts | $0 | $0 | $233 (Part B Deductible) |
| Remainder of Approved Amounts | Generally 80% | Balance, Other than Copays | Up to $20/$50 Copays, Emergency visit copay waived if admitted |
| Part B Excess Charge | $0 | $0 | All Costs |
| Blood | |||
| First Three Pints | $0 | 100% | $0 |
| Next $198 of Approved Amounts | $0 | $0 | $203 (Plan B Deductible) |
| Remainder of Approved Amounts | Generally 80% | Generally 20% | $0 |
| Clinical Laboratory Services | |||
| Tests for Diagnostic Services | 100% | $0 | $0 |
| Foreign Travel | |||
| 1st $250 each calendar year | $0 | $0 | $250 |
| Remainder of Charges up to a lifetime maximum of $50,000 | $0 | 80% | 20% |
Where Are Transamerica Supplements Sold?
Transamerica Premier Medicare Supplement insurance plans can be purchased in the majority of states. Prices may vary depending on your zip code and state. They are sold through a network of agents and brokers. REMEDIGAP is an independent and licensed broker who has access to a variety of top rated insurers like Transamerica.
Other Products And Services Offered By Transamerica
The Transamerica Life Insurance Company provides a long list of insurance, investment and financial products. So if you’re looking for financial protection or wealth accumulation products, they have something for you. They offer products such as:
- Medigap
- Life Insurance
- Long term care
- Annuities
- Mutual Funds
- Individual Retirement Accounts (IRAs)
How much do Transamerica medicare supplement plans cost?
There is no one-size-fits-all answer to this question, as the cost will vary depending on the specific plan you choose and the state you live in. Other factors can include your gender, age, tobacco use and your health. To get an idea of accurate rates of the most popular plans we can provide you a custom quote. Get started by clicking on “GET QUOTES” on this page. You can also contact us directly to get an estimate of how much a particular plan would cost you.
Pros and Cons of Transamerica Medicare Advantage Plans
There are pros and cons to any insurance plan and Medicare Advantage is no different. The pros of this particular plan include the fact that it offers coverage, including dental and vision, at a relatively low monthly premium. The cons of Medicare Advantage include that it can have high out-of-pocket costs, particularly for drug coverage prescriptions. It also has a network of providers, which confines you to seeing doctors or specialists who accepts the plan. Additionally, some members have complained about the customer service and claims process.
Our Recommendation
Transamerica is a solid company. They’ve been in the industry for many years. Along with excellent customer service, you can count on your claims being paid on time. They continue to keep their premiums competitive.
However, they’re only one of the many top companies available. The best company may depend on where you live. It’s possible that insurers like Manhattan Life, Cigna, United World Life, Bankers Fidelity or another carrier may provide a better deal.
To get free quotes on Transamerica or if you’re wanting to enroll, please call us direct at (888) 411-1329. We will ensure all applicable discounts are applied and confirm policy effective dates, which can affect the premium cost.
To compare quotes, simply fill out our online form and compare rates here. We are happy to help you with this important decision. We are a unique insurance agency dedicated to assisting retirees with Medicare.
Michael Quinn is a seasoned Medicare insurance expert and licensed agent dedicated to simplifying the complexities of healthcare coverage. With over a decade of experience, he is a trusted advisor known for his compassionate guidance and commitment to empowering individuals. As the Cofounder of REMEDIGAP in 2013, Michael offers unbiased resources and personalized support to assist clients in making informed decisions.
His expertise has been recognized on reputable platforms such as USA Today and Nerdwallet, solidifying his reputation as a reliable and knowledgeable industry leader. With a Master's Degree in Communicative Disorders, Michael combines strong communication skills with a genuine passion for positively impacting lives through tailored insurance solutions.
Written by Michael Quinn
Licensed Broker, REMEDIGAP Founder
Fact Checked by Joann Quinn
Chief Compliance Officer
As a licensed insurance broker, REMEDIGAP upholds the principles of integrity in our editorial standards and ensures transparency in how we receive compensation from our insurance partners.
