|Plan Type||Est. Premium*|
|Medigap Plan A:||$94.00||(shop rates)|
|Medigap Plan B:||$122.00||(shop rates)|
|Medigap Plan C:||$146.00||(shop rates)|
|Medigap Plan D:||$135.00||(shop rates)|
|Medigap Plan F:||$147.00||(shop rates)|
|Medigap Plan G:||$134.00||(shop rates)|
|Medigap Plan K:||$67.00||(shop rates)|
|Medigap Plan L:||$100.00||(shop rates)|
|Medigap Plan M:||$123.00||(shop rates)|
|Medigap Plan N:||$115.00||(shop rates)|
*Premiums shown are samples for a 65 year old, non-smoking woman in Tennessee. You must request a quote to get an exact premium for your situation.
Transamerica Financial Life Insurance Co is licensed in Tennessee to sell Transamerica Medigap Plans. This page outlines the Medicare Supplement insurance available from this carrier, as well as resources to get an accurate quote. Medicare Supplements help pay the deductibles, copayments and coinsurance that come with Original Medicare. The underwriter has been selling supplemental insurance in Tennessee for over 7 years. Their plan offerings are outlined below. Transamerica received an A+ rating from A.M. Best Company, the leading provider of credit ratings and financial data for the insurance industry.
All insurance companies that sell Medicare Plans must offer Plan A. This is the most basic policy covering the portions of Medicare Part A and Part B that the government doesn’t pay.
Tennessee seniors with Medicare benefits are eligible to apply for a Transamerica Financial Life Insurance Co Medigap Plan A policy. It's a Attained Age based premium. We recommend comparing this company's Plan A rate with these carriers:
- BCBS of Tennessee Medigap Plan A (Tennessee)
- Globe Life Medigap Plan A (Tennessee)
- UnitedHealthcare Medigap Plan A (Tennessee)
Plan B is available in most states. It covers basic benefits plus your Skilled Nursing coinsurance, but nothing else. In some rare cases, the premium for this policy could make it worth taking on the risk of those things not covered. Most people find a better alternative by choosing a Plan D, G, or H at a similar price.
You can get Plan B in Tennessee from Transamerica Financial Life Insurance Co . They use the Attained Age cost method to calculate their monthly rates. Before making your final decision, you might want to compare premiums with these carriers:
- Central States Medigap Plan B (Tennessee)
- Sterling Investors Medigap Plan B (Tennessee)
- Assured Life Association Medigap Plan B (Tennessee)
Plan C covers every penny of what Medicare approves, up to the approved payment amount. In other words, there are only two instances in which Plan C will not cover what is left of your charges after Medicare pays its share. The first instance is when Medicare doesn’t approve the charge at all. The second is when your healthcare provider charges more than the Medicare approved amount. This is because Plan C does not cover Medicare Part B Excess Charges.
If you take care to avoid the Medicare Part B excess charges, this is an attractive policy, and Transamerica Financial Life Insurance Co offers it in Tennessee. The monthly premium is calculated using the Attained Age cost method. Before you make a final decision, be sure to compare. Here are a few companies with good rates:
- Central States Medigap Plan C (Tennessee)
- Sterling Investors Medigap Plan C (Tennessee)
- Family Life Medigap Plan C (Tennessee)
Plan D covers most of the high risk areas not covered by Medicare. Most often the premium for a Plan D is less than the more comprehensive plans, like Plan F and G, but it leaves gaps in the coverage that these plans don’t.
People who choose this plan frequently do so because they are willing to risk the potential expense of the Part B deductible, preventative care and Medicare Part B excess charges. Before purchasing this plan be sure to compare rates on Plan F and G, as well.
Transamerica Financial Life Insurance Co offers a Plan D policy in Tennessee. It's not the most common plan, but here are a couple carriers we think you should check out to see if they offer a better price:
- Assured Life Association Medigap Plan D (Tennessee)
- Sterling Investors Medigap Plan D (Tennessee)
- BCBS of Tennessee Medigap Plan D (Tennessee)
Plan F is the most popular of all supplements. It offers comprehensive coverage for everything Original Medicare doesn’t cover as long as the charge is approved.
There are No Co Pays, No Deductibles and No Out of Pocket Costs with Plan F. That means if your Medicare Part A or Part B pay a penny on any doctor or hospital charges, this policy will cover the gap. Period.
The two gaps that are not covered are At Home Recovery and Preventative Care. These expenses are not covered by Medicare at all.
Plan F is by far the most commonly purchased Medicare supplement in Tennessee. Transamerica Financial Life Insurance Co offers a good Medigap Plan F, however, don't forget to compare prices. Make sure you're getting the lowest premium available in Tennessee by comparing quotes from these insurance carriers:
- Central States Medigap Plan F (Tennessee)
- Philadelphia American Medigap Plan F (Tennessee)
- Sterling Investors Medigap Plan F (Tennessee)
Plan G has almost as much coverage as a Plan F. The difference is the Part B deductible. After your annual Medicare Part B deductible is met, this plan will cover the coinsurance amount of Medicare-approved medical services, which is generally 20% of the approved amount.
If you stay in the hospital for longer than 60 days, but less than 90 days, Plan G covers your Medicare Part A coinsurance for each benefit period. For each Medicare “hospital reserve day” you use, Plan G pays the full per day Medicare Part A coinsurance amount. “Hospital reserve days” are 60 nonrenewable hospital days that Medicare provides you which can only be used once in a lifetime. After all Medicare hospital benefits are exhausted, Plan G covers 100% of Medicare Part A eligible hospital expenses.
Most experts agree that Plan G is the best alternative to the F Plan. It offers all of the same benefits, except the Part B deductible. Transamerica Financial Life Insurance Co offers a Plan G and we think it's worth comparing with the rates offered by these carriers:
- Assured Life Association Medigap Plan G (Tennessee)
- Philadelphia American Medigap Plan G (Tennessee)
- Sterling Investors Medigap Plan G (Tennessee)
Plan K covers the cost sharing for Part B preventive services, the Part A hospital co-insurance and features an additional 365 days of hospital coverage. Plan K covers 50% of the Part A and Part B blood deductibles, the Part B co-insurance, the skilled nursing facility co-insurance, cost sharing associated with the hospice benefit, and the Part A hospital deductible.
Once you reach a total out-of-pocket limit of $4,940 (2015 rates), this plan pays 100% of all cost sharing under Medicare Parts A and B for the rest of the calendar year. If you need to manage your cash flow, Plan K is one way to do it.
Healthy seniors who can take some financial risk should take Plan K into consideration. It's a good alternative to Medicare Advantage. Your risk is about $5,000 per year in out-of-pocket costs. Plan K is offered by Transamerica Financial Life Insurance Co in Tennessee. Premiums for a Plan K policy vary a lot so be sure to compare with these carriers:
- UnitedHealthcare Medigap Plan K (Tennessee)
- Sterling Life Medigap Plan K (Tennessee)
- Bankers Fidelity Medigap Plan K (Tennessee)
Plan L offers many of the same basic benefits as other plans at a much lower monthly premium. The low premium is available because Plan L covers less of the copayments and coinsurance than other supplemental plans. The good news is that you are covered by an annual out-of-pocket maximum, which limits the amount you will be required to pay, should you need the care.
Plan L is a good option if you need a policy with an affordable premium, but still want a reasonable amount of coverage for a wide variety of services. Plan L is like Plan K, but it covers a higher percentage of your costs, has a lower annual out-of-pocket limit ($2,470 in 2015), and the monthly premium is only slightly higher.
The Medigap Plan L offered by Transamerica Financial Life Insurance Co offers all of the basic benefits and pays 75% of your deductibles, skilled nursing care and blood. You are required to pay the Medicare Part B excess charges, and the plan does not offer coverage when you travel outside of the United States. The maximum out of pocket limit for Plan L is about $2,500 (compared to as much as $6,700 with Medicare Advantage). Compare Transamerica Financial Life Insurance Co 's Plan L with the premiums from these carriers:
- UnitedHealthcare Medigap Plan L (Tennessee)
- Humana Medigap Plan L (Tennessee)
- Thrivent Financial Medigap Plan L (Tennessee)
Plan M is a cost sharing plan. What this means is that you are responsible for any additional out of pocket expenses as compared to Plans C, D, F and G. Basically, Plan M works like a Medicare Advantage HMO or PFFS plan without the network hospital and doctor restrictions. You are free to visit any doctor or hospital that accepts Medicare patients.
Plan M includes the core coverage, plus three extra benefits. It covers 50% of your Medicare Part A in-patient hospital deductible, your coinsurance amount for skilled nursing facility care for the 21st through the 100th day of your stay, and any emergency care you may require when you are in a foreign country after a $250 deductible. This benefit pays 80% of the cost of your care for the first 60 days of each trip, up to $50,000 in your lifetime.
Plan M is a real cost saver, but keep in mind that it only pays 50% of your Medicare Part A. Plus, you are required to pay the Part B deductible and Part B excess charges. This plan is not offered by a lot of carriers, so be sure to compare premiums with these insurance companies:
- Sterling Investors Medigap Plan M (Tennessee)
- Family Life Medigap Plan M (Tennessee)
- Heartland National Medigap Plan M (Tennessee)
Offering benefits similar to Plan D, Plan N features a $20 co-payment for doctor visits and a $50 co-payment for emergency room visits. These co-pays are applied once the annual deductible is met. Most Plan N premiums are approximately 70% of a Plan F and 77% of Plan D premiums.
Plan N gives you all of the basic coverage benefits, plus it pays your Medicare Part A deductible. You pay the Part B deductible and the Part B excess charges. You are also responsible for a $20 co-pay when you visit the doctor and up to $50 for each emergency room visit. If saving money is your goal, this plan will help. Compare premiums with these carriers before you buy:
- Central States Medigap Plan N (Tennessee)
- Philadelphia American Medigap Plan N (Tennessee)
- Sterling Investors Medigap Plan N (Tennessee)
You are eligible to apply for a Transamerica Medicare Supplement if you are:
- A resident of Tennessee,
- Enrolled in Medicare Parts A and B, and
- You are age 65 or over.
Transamerica offers plans in Nashville, Murfreesboro, Memphis, Knoxville, Chattanooga, Clarksville, Jackson, Johnson City, Franklin, Hendersonville, Kingsport and most other areas of the state.
This page is maintained by 9/22/2015.and was last updated on