Transamerica has dramatically reduced their Medicare Supplement Plan N Rates

Transamerica Premier Life Insurance Company (TPLIC) had more than a century of experience and known for a wide array of innovative financial and health services and products, including Transamerica Medicare Supplement plans. Like all Medicare Supplement vendors, Transamerica Medicare Supplement operates in the world of Standardized Medigap Plans.  There are 10 standardized plans denoted by a letter (Medigap Plan A through Medigap Plan N), each with its own set of benefits.  They help with your out of pocket costs that are not covered by Original Medicare Part A and Part B. Whatever vendor you choose for your Medigap plan, benefits are defined only by the type of plan you’ve selected, and not by the carrier. But premium for the same Medigap plan can be very different from vendor to vendor.

1. Transamerica Medicare Supplement Plan N: Dramatic Reduction in Premium

Transamerica Premier Life Insurance offers Medigap plans A, F, G and N in 27 US States, including 6 of 7 states where Liberty Medicare is licensed to do business – Pennsylvania, New Jersey, Delaware, Maryland, Virginia and Ohio.  For a long period of time in many states, Transamerica rates are very competitive, particularly for Plan G and Plan F. The recent premium adjustment dramatically reduces Medicare Supplement Plan N premiums for the new sales (see the Table 1 below).  This makes Transamerica Medicare Supplement Plan N premium VERY COMPETITIVE practically in all states.

Table 1.   Recent Transamerica Premium Rate Changes for New Sales

2. Name Recognition and Financial Strength Ratings

Transamerica Premier Life Insurance is a very well recognized name in the insurance industry.  Financial Strength Ratings are measures of a company’s financial strength and its operating performance.  It is less critical for Medicare Supplement Plans than for other Health Plans (See How important is Medicare Supplement Insurance Company Rating?).  Nevertheless, since it is a measure of a company’s financial stability, it adds to company respectability and positive client perception.

Transamerica Premier Life Insurance Company has excellent financial strength ratings:

• A.M. Best:  A+  (2nd of 16 categories)
• Fitch: A+  (5th of 19 categories)
• Moody’s: A1 (5th of 21 categories)
• Standard & Poor Global: AA – (4th of 21 categories)

A.M. Best is normally used as a measure of financial stability for Medigap vendors. Very few companies have an A+ rating.

3. Transamerica Medicare Supplement: Enrollment

Transamerica does not provide a direct way of enrollment (by calling the company),  The ONLY way to enroll in the Transamerica Medicare Supplement plan is by using the services of the agency appointed with Transamerica, like ours. We’ll help you to select and enroll in a Medicare Supplement plan that is BEST FOR YOU. And, naturally,  there is NO CHARGE to you for our service.

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For help finding the best Medicare or Individual Health Plan for you, please contact Liberty Medicare or call us at 877-657-7477.