Humana Medicare Supplement plans are some of the highest-rated in the nation. One of the largest medical insurance providers with a diverse line of products, Humana serves many types of consumers.
Empowering their members to lead healthy and active lives is one of their many goals. Humana is a company that genuinely cares about its clients.
We’ll discuss plan options to give you a better understanding of coverage on Humana. Additionally, we’ll also go over customer experiences with Humana so you can learn about the value of a plan through this carrier.
Humana Medicare Supplement Plans for 2021
Humana is known for its Medicare options. Coverage between states can vary.
For some, a Humana Medigap policy will be the most suitable. Meanwhile, others find a Humana Medicare Advantage plan makes the most sense. Further, some people may only want a Part D prescription drug plan through Humana.
Regardless, the best Humana plan for you will depend on your situation and budget. Let’s explore some of your options below so we can help you determine your ideal plan.
Humana Medicare Supplement Plan G
Medicare Supplement Plan G is currently the most popular Medigap plan because it gives you the best overall deal. It is common for eligible beneficiaries to save at least $250 per year by selecting Plan G instead of Plan F.
For instance, if a 70-year-old man in Arizona doesn’t use tobacco and chooses to go with Plan F from Humana, he’ll be paying about $182 in premiums each month. Yet, the same beneficiary’s monthly premium for Humana’s Medicare Supplement Plan G in Arizona would be around $154 per month.
In most cases – including this one, where the annual difference is to the tune of $336 – the savings surpass the cost of the Part B deductible, which is the only cost Plan F covers that Plan G doesn’t. Meaning, it could be more financially responsible to choose Plan G over Plan F.
Humana Medicare Supplement Plan F
Medicare Supplement Plan F is the most comprehensive Medigap plan. When a beneficiary has Plan F, they have no out-of-pocket costs for hospital or doctors’ visits.
Because Plan F has the most coverage of all Medigap plans, it also comes with the highest premiums. Thus, many people who are eligible for Plan F are put off by the monthly cost. But, if you frequent the doctor and are eligible for Plan F but Plan G policies in your area don’t provide significant savings to offset the annual Part B deductible, Plan F could be a sensible policy for you.
Humana Medicare Supplement Plan N
You may consider a Plan N Supplement suitable if you don’t go to the doctor often. It features small copays for the doctor and emergency room in exchange for a lower premium.
The same, 70-year-old man in the example for Plan G would pay about $128 a month for Plan N from Humana. Plan N contains the basic benefits and Part A costs. Yet, it doesn’t cover the Part B deductible or any potential excess charges and it also comes with copays. So, if you frequent the doctor, this plan might not be the best for you because the copays could surpass the premium difference for the year on Plan G.
What Does a Humana Medicare Supplement Plan Really Cost?
Overall, the cost of Humana Medigap plans can range from $50 to $300 a month depending on the coverage you choose. The cost of Medigap varies more by the state than by carrier. Most top carriers have similar prices.
Further, you may pay more if you sign up outside your Medigap Open Enrollment Period. Also, Medigap can charge higher premiums to those with pre-existing conditions if they don’t use their Open Enrollment window.
The best way to obtain an accurate quote is by using a professional insurance agent who specializes in Medicare.
What Are the Medicare Supplement Plan Rate Increases for Humana?
The cost of your Supplement is subject to increase every year. Usually, the rate increase is about 3% each year.
Also, insurance companies increase the rate for entire states all at once. These increases are plan-specific; so, Humana could increase Plan F by 5%, Plan G by 4%, and Plan N by 3%.
Sometimes, the rate will only go up a couple of dollars and other times the rates increase more. Working with an agent ensures you have access to different options when you need them.
Humana Medicare Supplement Plan Reviews
With its headquarters in Louisville, Kentucky, Humana has over 55 years in the industry under its belt, along with a BBB accreditation of A+. AM Best, the standard for rating Medicare Supplement providers, gives Humana an A- rating for financial strength, with a stable outlook.
Humana Medicare Advantage Plans
Many of these plans have a $0 premium. Additionally, Humana offers Special Needs Plans to cater to those with chronic conditions.
Many Humana plans offer fitness programs such as SilverSneakers. Also, plans can include prescription drug coverage, as well as coverage for dental, vision, and hearing. Some plans with such benefits charge slightly higher premiums. Plan availability varies by location.
The maximum out-of-pocket amounts for Humana Advantage plans range depending on the policy you choose. Your deductibles and copays go toward this amount before the plan starts paying 100%, so keep this in mind when evaluating your options.
Humana Medicare Advantage Reviews
Fortunately, 92% of Humana Advantage members are in 4-star or higher plans. Over 99% of Humana’s group retiree Medicare Advantage plans have 4-star and above policies.
Humana Part D Preferred Pharmacy
The well-known Humana Walmart Value Rx plan requires lower costs for prescriptions at Walmart pharmacies or the mail order program.
There are three basic Part D plans with Humana:
- Humana Basic Rx Plan has a $435 deductible on brand-name drugs. This plan would be great for someone with a few generic scripts.
- Humana Walmart Rx Plan offers a low monthly premium and low copays if you fill your prescriptions at Walmart or Sam’s Club.
- The Humana Preferred Rx Plan has a low copay amount for prescriptions filled at Walmart or Sam’s Club and slightly higher copays for prescriptions filled at other network pharmacies.
Does Humana Offer Household Discounts for Medicare?
In some states, Humana offers a discount for couples if they both enroll in a Medigap plan. The discount tends to be around 12%. Discounts are not available for Part C or Part D plans.
How to Compare Humana Medicare Plans
If you're wondering whether a plan with Humana is your best option, you're in the right place. We can help guide you through the unfamiliar waters of Medicare and find the plan that best fits your needs.
Options will vary depending on your state. We are here to assist you in making a decision. Call the number above to find out if a Humana Medicare Supplement plan is right for you, or complete our online rate form to start exploring plans near you.