Why Is Company Experience Important for Medicare Supplement Plans?
When choosing a Medicare Supplement (Medigap) plan, stability matters. If a company hasn’t been working with Medicare supplements for at least five years, it’s a risk you might want to avoid.
What’s the Hidden Risk of New Medicare Supplement Companies?
In my Hidden Risk video series, I’ve shared real-world examples — and predictions — about what happens when inexperienced companies enter the Medicare market. Unfortunately, those warnings have come true.
Have Companies Actually Failed This Quickly?
Yes — in just the past 12 months (possibly closer to 10 months), three Medicare Supplement insurance companies that had been in the market for less than five years went out of business. That’s why experience is a critical factor when choosing your Medigap provider.
If you’re shopping for a Medicare Supplement plan, always check how long the company has been in the market — and prioritize proven stability over flashy new offers.
For more insights into Medicare coverage, plan selection, and avoiding common pitfalls, we recommend reading these articles: