Transamerica Medicare Supplement Insurance Review


Rating: 8.3 / 10 (Excellent)
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Originally part of the Bank of America, the Transamerica Corporation is now a subsidiary of Aegon, a Netherlands-based financial conglomerate. Their supplemental insurance plans are now offered through their Transamerica Premier Life Insurance division, rather than their Stonebridge Life Insurance division. As with other companies that offer the standardized Medicare supplemental plans, prices vary depending on where the applicant lives and the age-rating method the company uses.

How is Transamerica rated?

Breakdown

8/10
Coverage
9/10
Pricing
7/10
Customer Experience
9/10
Financial Strength

Overall Rating: 8.3 / 10 (Excellent)

As a financially sound company with a a very low complaint ratio, Transamerica Medicare Supplement Insurance is a safe option for anyone shopping for a Medigap plan. We recommend referring to their website and contacting an agent to find out the specific plan offerings in your state, as costs can vary significantly depending on location, general health, and some lifestyle habits such as smoking.

Transamerica Coverage

Coverage - 8 / 10

Transamerica currently offers Medicare Supplement Plans A, F, G, and N, though a few of their vendors may also offer some additional plans. The company also has vision, dental, and hearing care policies, though these are separate from Medigap, and are therefore charged as an extra cost. The company's underwriting takes into account the beneficiary's weight, whether they use narcotic pain medication, psychiatric treatments, and any pending surgeries.

Plan Types

  • Plan A - It includes hospital copayment costs up to a year after Medicare benefits are exhausted, the first three pints of blood, Part B coinsurance including preventive care services after deductible, and hospice care.
  • Plan F - Less expensive than other plans, F covers all the same benefits as C, with the addition of 100% of Part B's excess charges.
  • Plan G - Covers almost every Medicare supplemental insurance benefit, with the exception of Part B's annual deductible.
  • Plan N - Covers hospital copayments, Part B co-insurance except $20 for office visits & $50 for emergency visits, first 3 pints of blood, hospital deductible, SNF, foreign care, all of Part B co-insurance for preventive care, and hospice care.

At a Glance

Additional Benefits
Routine Vision or Dental Care
Hearing Aids

Transamerica Pricing

Pricing - 9 / 10

As with other companies that offer Medicare supplemental plans, the pricing will vary for applicants, based on the region that the applicant resides in and the age-rating method of the insurance company. However, overall Transamerica distinguishes itself by its excellent rates, and rate stability.

Cost

Price Stability
Yes

Transamerica Customer Experience

Customer Experience - 7 / 10

The ratings from BBB and Trust Pilot for Transamerica Medicare supplement insurance are inconclusive, as each company entry on these websites corresponds to regional offices, rather than the business as a whole. Their NAIC complaint ratio is less-than average, however, a sign that the company seeks to resolve the majority of their complaints.

Reviews

NAICS Complaint Ratio 2017
0.91
NAICS Total Complaints 2016
26
Date Collected
2018-03-20

Transamerica Financial Strength

Financial Strength - 9 / 10

Transamerica supplemental health insurance is underwritten by Transamerica Premier Life Insurance, which has strong ratings from both Moody's and AM Best. Additionally, the name recognition the company has acquired during its near century of experience also adds to its respectability and general standing.

Ratings

Moody's Financial Rating
A1
AM Best Financial Rating
A+

Year Founded

1928

Underwriter

Transamerica Life Insurance

Company Profile

Full Name
Transamerica Medicare Supplement Insurance
Company Website
Headquarters
4333 Edgewood Rd NE, Cedar Rapids, IA, 52499

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