Allstate Medicare Supplement Review
Our research on Allstate reveals many key benefits: premiums that are, on average, 14% more affordable, up to 25% stackable discount offerings, excellent financial ratings, user-friendly web access, and a wide range of Medigap coverage options that are guaranteed renewable for life.
Allstate also offers policyholders perks like:
- Access to the Active&Fit fitness program
- No referral requirement for specialists
- Nationwide coverage with Medicare-accepting providers
- A 30-day trial period
- Dental insurance policies with three coverage levels and a 10% discount when paired with a Medicare Supplement plan
Despite some negative reviews and controversy in recent years, most feedback remains positive, highlighting Allstate’s stability.
- Generous household discounts
- Established track record as a trusted insurance provider
- Competitively priced compared to other Medigap providers
- Guaranteed renewable for life
- Recently entered the Medicare market
- Medigap plans are not available in every state
- Does not provide Part C or Part D plans
- Not all discounts are universally accessible and can vary by state
Allstate is emerging as a frontrunner in the Medicare Supplement world.
When researching Medigap policies and providers, Allstate deserves your attention due to its reputation for offering fair pricing and a customer-focused approach.
Which Medigap Plans Does Allstate Offer?
While Allstate is widely known for its auto and home insurance policies, they offer five of the ten standardized Medicare Supplement plans. Among these, Plan G and Plan N are the most popular choices for beneficiaries seeking to enhance their Original Medicare coverage.
Here, we will dive deeper into the features of these plans, explore why Plan G is the most popular option, and provide a detailed comparison of costs and benefits.
Common Benefits Included in Plan G and Plan N
Both Plan G and Plan N share several foundational benefits, ensuring robust coverage for Medicare beneficiaries.
These shared benefits include:
- Hospitalization Coinsurance Coverage: Covers the Part A coinsurance and offers additional coverage for up to 365 days after Medicare benefits are exhausted.
- Skilled Nursing Facility Care Coinsurance: Helps cover the coinsurance for skilled nursing facility stays.
- Original Medicare Part A Deductible Coverage: Provides full coverage for the Part A deductible.
- Foreign Travel Emergency Coverage: Offers up to 80% coverage for emergency healthcare services during foreign travel.
- Part B Coinsurance and Copayments: Covers the 20% coinsurance for outpatient services under Medicare Part B.
Key Differences Between Plan G and Plan N
While both plans offer strong coverage, the primary differences lie in how they handle out-of-pocket costs and additional fees:
Medicare Part B Excess Charges:
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- Plan G: Covers all Medicare Part B excess charges. This means if your healthcare provider does not accept Medicare’s approved amount as full payment, Plan G will cover the difference.
- Plan N: Does not cover Medicare Part B excess charges. Beneficiaries may be responsible for paying these fees out-of-pocket.
Copayments:
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- Plan G: No copayments for office visits or emergency room visits.
- Plan N: Requires a copayment of up to $20 for office visits and up to $50 for emergency room visits (waived if admitted).
Cost Comparison: Plan G vs. Plan N
Below is a detailed comparison of the monthly premiums and common costs associated with Plan G and Plan N. Keep in mind that these costs may vary based on location, age, and the insurance provider.
| Feature | Plan G | Plan N |
|---|---|---|
| Monthly Premium | $141 (Atlanta, GA) | $108 (Georgetown, PA) |
| Office Visit Costs | $0 | Up to $20 per visit |
| Urgent Care Costs | $0 | Up to $20 per visit |
| Emergency Room Costs | $0 | Up to $50 per visit* |
| Inpatient Hospital Costs | Covered in full | Covered in full |
| Outpatient Services Costs | 20% coinsurance covered | 20% coinsurance covered |
| Part B Excess Charges | Covered in full | Not covered |
*Emergency room copay is waived if the patient is admitted to the hospital.
Why Plan G Is the Most Popular Choice
Plan G’s comprehensive coverage makes it the top choice among Medicare Supplement plans, particularly for those who want peace of mind regarding out-of-pocket expenses.
By covering all Medicare Part B excess charges and avoiding copayments for office and emergency visits, Plan G minimizes financial unpredictability for beneficiaries.
When Plan N Might Be a Better Fit
For those who are comfortable with occasional out-of-pocket costs in exchange for lower monthly premiums, Plan N offers excellent value. This plan is particularly suitable for beneficiaries who do not anticipate frequent doctor visits or have providers that do not charge Part B excess fees.
Conclusion
Both Plan G and Plan N provide valuable enhancements to Original Medicare, each catering to different financial and healthcare needs.
Plan G is ideal for those who prioritize comprehensive coverage and minimizing unexpected expenses, while Plan N is a budget-friendly alternative for individuals willing to manage modest copayments and the possibility of Part B excess charges.
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State Exclusions:
Allstate’s Medicare Supplement plans are available nationwide, except in Connecticut, Hawaii, Massachusetts, Maine, New Hampshire, New York, Rhode Island, Vermont, and Washington.
Does Allstate Have Special Benefits?
Allstate provides policyholders several perks, such as:
- Access to the Active&Fit fitness program
- A guaranteed renewable policy for life
- No-referral requirement for specialists
- Nationwide coverage to see any provider who accepts Medicare
- A 30-day “free look” trial period
Allstate also prioritizes convenience by offering a user-friendly website and mobile app for policy management and bill payments. This allows customers to easily access their policy information, make changes, and pay bills.
Are There Discounts With Allstate?
Allstate offers the following stackable discounts that can help beneficiaries save up to 25% on their Medicare Supplement plan:
- Roommate household (7%): This discount applies to policyholders who have lived with someone aged 50 or older for a year or more.
- Annual pay (10%): Paying annually earns you a 10% premium reduction.
- Dual Applicant (10%): When two individuals from the same residence apply for plans together, they qualify for this discount. It combines the 7% roommate discount and a 3% dual-applicant discount.
- Activity Tracker (5%): Link your wearable fitness device, like a Fitbit or Apple Watch, to receive a 5% discount on your insurance plan.
How Do Allstate’s Premiums Compare to Others?
Allstate offers Medicare Supplement plans at competitive prices. While a strong reputation and exceptional customer service are important factors, premium affordability remains a top priority for most beneficiaries.
To provide a clearer picture, we’ve compared Allstate’s monthly premiums with those of Aetna, Cigna, and Aflac for a 65-year-old male non-smoker. This comparison chart illustrates how Allstate stacks up against these well-known providers in terms of cost.
Below is a breakdown of the monthly premiums for each company.
Medigap Plan Location Allstate Aflac Aetna Cigna
G Atlanta, GA $141 $175 $173 $170
N Georgetown, PA $108 $110 $119 $92
F Cleveland, OH $161 $179 $201 $164
A Park City, UT $125 $156 $166 $162
Based on this evaluation, Allstate typically provides premiums that are, on average, 14% more affordable.
| Plan G in Georgia: 18% lower premiums | Plan N in Pennsylvania: 6% lower premiums |
|---|---|
| Plan F in Ohio: 11% lower premiums | Plan A in Utah: 22% lower premiums |
It’s essential to remember rates can vary based on age, location, gender, and whether the policyholder uses tobacco. Allstate’s discounts also will play a part in the final price of a monthly premium.
Allstate Medicare Supplement Plans: Pros and Cons
Allstate has entered the Medicare Supplement market, bringing competitive pricing and additional benefits to the table. Like any insurance carrier, their plans come with both advantages and potential drawbacks. Below, we outline the pros and cons of choosing an Allstate Medicare Supplement Plan.
Pros of Allstate Medicare Supplement Plans
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Lower Monthly Premiums – Allstate has positioned itself competitively by offering lower premiums than many other Medicare Supplement providers. This makes their plans attractive for budget-conscious Medicare beneficiaries.
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Premium Discount Options – Allstate provides various discount opportunities, such as household discounts, making their plans even more cost-effective for those who qualify.
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Additional Dental Insurance Offerings – Unlike many Medicare Supplement providers that focus solely on medical coverage, Allstate also offers dental insurance options, allowing beneficiaries to bundle additional benefits with their Medigap coverage.
Cons of Allstate Medicare Supplement Plans
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Newer to the Medicare Supplement Market – Unlike well-established Medicare Supplement providers, Allstate is relatively new to this space. While they have a strong brand and financial backing, their long-term stability and rate increase history are still developing.
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Longevity is Hard to Predict – Because Allstate has a shorter track record in the Medicare Supplement industry, it’s difficult to predict how they will handle rate increases over time or whether they will remain in the market long term.
What Happens If Allstate Leaves the Market?
While longevity is uncertain, Medicare beneficiaries are protected. If Allstate were to sell its Medicare Supplement book of business or become insolvent, guaranteed issue rights ensure policyholders can switch to another Medicare Supplement provider with no medical underwriting or health questions.
This protection gives added peace of mind to those considering an Allstate Medigap plan.
Final Thoughts: Should You Consider Allstate Medicare Supplement Plans?
Despite being a newer player in the Medicare Supplement market, Allstate offers attractive pricing, discount opportunities, and additional benefits that make them a compelling choice.
While their long-term stability remains to be seen, the guaranteed issue protections help mitigate concerns. Overall, we like Allstate Medicare Supplement Plans and are actively recommending them to our clients today.
Does Allstate Offer Dental Insurance Policies?
Allstate offers dental insurance policies that come in three different levels of coverage, each with its additional premium:
1. Basic plan – an affordable option covering preventive care and minor dental procedures.
2. Intermediate plan – balances affordability and broader coverage, including minor restorative procedures.
3. Premium plan – comprehensive coverage that includes major restorative procedures and orthodontic treatments (ideal for customers who require extensive dental care).
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Discount Alert:
Pairing a dental plan with a Medicare Supplement can qualify you for a 10% bundling discount.
Allstate Financial Ratings
Allstate’s commitment to integrity and financial stability is reflected in its ratings from numerous reputable agencies:
- A.M. Best Rating: A+ (Superior) – Demonstrates an exceptional ability to fulfill ongoing insurance obligations.
- Standard & Poor’s Rating: AA- (Very Strong) – Perceives strength and capacity to meet policy and contract commitments.
- Moody’s Rating: A1 (Excellent) – Indicates minimal credit risk and formidable financial stability.
How Do I Enroll in a Medigap Plan With Allstate?
The Medicare Supplement Open Enrollment Period is a 6-month window starting on the first day of the month of your 65th birthday. During this time, you can enroll in any Medicare Supplement plan available in your state without being denied coverage or paying higher premiums due to pre-existing conditions.
After this period ends, you may still be able to enroll in a Medicare Supplement plan. However, acceptance is not guaranteed, as insurance companies can impose medical underwriting and deny coverage based on your health status.
If you are interested in an Allstate Medicare Supplement plan, the most efficient course of action is to consult one of our licensed insurance agents. They will expertly guide you through enrollment and help you choose the ideal plan to meet your needs.
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Bonus Trivia:
- The renowned slogan of Allstate, “you’re in good hands,” was crafted in the 1950s by Davis W. Ellis, a sales executive at Allstate Insurance Company, inspired by his comforting words to his wife regarding their child’s doctor.
Bottom Line
Allstate’s reputation for providing reliable and top-quality insurance products now extends to their latest venture: offering Medicare Supplement plans.
With various coverage options, competitive pricing, exclusive perks for policyholders, and strong financial ratings, Allstate is a solid choice for trustworthy Medicare Supplement insurance.
Sources: Allstate Medigap Info | Compare Medigap Plans | Basics of Medigap
FAQs
- What is Allstate's Medicare Supplement "free look" trial period?
- Can I see any provider with Allstate's Medicare Supplement plans?
