Best Medicare Supplement Plans in Colorado

Medicare Supplement plans help cover expenses that Original Medicare doesn't cover. There are ten Medicare Supplement plans available in Colorado.

• Of the ten plans offered in 2023, we found Medicare Supplement Plan G is the best plan for the most comprehensive coverage. Cigna offers the cheapest Plan G rates, coming in at $105.56 per month.‍
• Cigna also offers the highly valued Medicare Supplement Plan N at $72.24 monthly.
• And for those wanting the lowest monthly rate, High Deductible Plan G from Mutual of Omaha offers the best rates at $47.96 per month. You must pay a $2,700 annual deductible before the plan starts covering costs.

Below are highlighted features and benefits of each plan.

What's the Best Medicare Supplement Company in Colorado?

Based on our review of several key factors, Cigna is the best Medicare Supplement company in Colorado.

While Cigna Medigap plans tend to be more affordable in Colorado, it's not the only factor when selecting the best Medicare Supplement company. For example, depending on your plan letter of choice, one provider might offer Plan N at a lower cost but may be pricier for Plan G; every insurer has its own set of advantages and drawbacks depending on their levels of coverage. For this reason, Cigna remains our top selection during the review process due to its affordability, expansive range of plan choices, household premium discounts, and high customer satisfaction rates.

This chart compares different Medicare Supplement companies to Cigna that are also available in Colorado, including sample premiums, ratings, and market share:

For illustrative purposes only: The premiums listed are for a 65-year-old female, non-smoker from a local zip code. Many insurance companies offer household discounts - eligibility for premium discounts can be determined when enrolling in a plan. The AM Best rating determines the financial rating of each carrier. No warranties or guarantees of any kind have been expressed.

How Much Does a Medigap Plan Cost in Colorado?

The best price for Medicare Supplement Plan G in Colorado is $105.56 per month with Cigna.

Your age and plan choice will have the most significant impact on your premium.

Here you can see how the prices compare for several different plans:

When Can I Apply For a Medicare Supplement Plan?

Open Enrollment Period

Your Open Enrollment Period is the best time to enroll in a Medicare Supplement Plan. This period is six months long and starts the first month that you have Medicare Part B coverage and are 65 or older.

The 6-month enrollment period cannot be postponed or repeated. Medicare beneficiaries receive the best rates inside this six-month window and have guaranteed issue rights, which means the Medicare insurance company cannot deny coverage or increase prices, even if beneficiaries have pre-existing conditions.

Outside the Medigap Open Enrollment Period

Once your Medigap Open Enrollment Period ends, your application is reviewed by a medical underwriting team assigned to evaluate risk. Private insurance companies can approve policies at higher rates or deny coverage altogether.

This is not applicable if you have guaranteed issue rights, which can be applied in situations such as a retiree losing coverage or having a plan that no more extends services in your area. These unique situations are called Special Enrollment Periods.

In that case, the Medicare insurance company has to offer you the following:

• At least one type of Medicare Supplement insurance plan in Colorado
• Cover pre-existing conditions
• Offer pricing irrespective of your health condition

When Under 65

Guaranteed issue rights apply to Colorado beneficiaries under 65 who have:

• A qualifying disability
• End-stage renal disease (ESRD)

FAQ:

When Can I Change Medigap Plans?

Medicare Supplement plan members can switch Medigap policies at any time. However, insurance companies can ask health questions and require underwriting, which will raise your insurance prices.

Eligibility for an exception may apply if you:

• Have specific circumstances or guaranteed issue rights
• Are within the six-month window of your Medigap Open Enrollment Period

Once you switch, you have 30 days to decide to keep your new policy. This is called a Medigap Free Look Period.

Can I De Denied Medigap Coverage?

If you miss the Medigap Open Enrollment Period and do not qualify for guaranteed issue rights, an insurer may deny coverage under Medigap based on your health conditions.

Ready to Learn More?

We help educate Medicare beneficiaries on their Medigap options and help them go through the process of reviewing and comparing plans. We work with some of the nation's top-rated Medigap carriers. So give us a call today, or request a quote online to learn more about Aetna Medicare Supplement plan G and Mutual of Omaha Medicare Supplement plan G in your state.