Colonial Penn Medicare Supplement Review: Not Good In 2023?
Posted in Medicare Supplement Reviews last updated on February 27, 2023
Colonial Penn Medicare Supplement Review
Summary
Colonial Penn’s Medicare supplements are above average in price and you can’t get a quote without talking to someone. However, they offer all 10 Medicare supplement plans, something many companies do not offer. You are better off getting Medicare supplements elsewhere.
Table Of Contents
- Pros & Cons
- Colonial Penn Medicare Supplement Coverage
- How Much Do They Cost?
- Does Colonial Penn Pay Medicare Deductible?
- Colonial Penn Medicare Advantage
- Colonial Penn Medicare Supplement Customer Reviews
- Summary
Colonial Penn Medicare Supplement Pros And Cons
Pros
✅ Offer all 10 Medicare supplement plans
✅ Work in all states except MA
Cons
❌ Above-average prices
❌ Can’t get quotes online
❌ Poor customer reviews
Colonial Penn Medicare Supplement Plan Coverage
Colonial Penn is best known for their life insurance policies (which you should stay away from) but they also offer their Medicare supplement plans through a partnership with Bankers Life.
Colonial Penn offers all 10 Medicare supplement plans so you have every possible choice to choose from.
Not sure which to pick?
Plan F, G, and N are the most popular plans right now, but keep in mind you can only qualify for Plan F if you were eligible for Medicare before January 1, 2020.
How Much Does Colonial Penn Medicare Supplements Cost?
Since you can’t get quotes online it is tricky to give accurate quotes for your area for Colonial Penn Medicare supplements.
However, we did get a few rates from a representative and they were far above average.
Companies like Aetna or Prosperity will be a much better deal for almost everyone in terms of cost.
Also note that there is no difference in quality when it comes to Medicare supplements. All plans are standardized so they a Plan G is the same as a Plan G from another company.
They only compete on price.
Therefore, you should simply find the lowest price Medicare supplement plan for you.
You can compare 15+ different Medicare supplement companies for free by filling out our quoter.
Does Colonial Penn Pay Medicare Deductible?
If you are new to Medicare, no Colonial Penn Medicare supplement plans pay the Medicare Part B deductible, which is the doctor’s office. However, there are some that pay the Part A deductible, which is the hospital.
This is true for every Medicare supplement plan, not just for Colonial Penn.
If you want to have a plan that pays for the most comprehensive amount of benefits, Plan G is your best option.
Colonial Penn And Medicare Advantage
Colonial Penn does not offer Medicare Advantage plans or Part D prescription drug plans.
If you want more information on Medicare Advantage or a prescription drug plan you will have to look elsewhere.
Colonial Penn Medicare Supplement Customer Reviews
Colonial Penn has very poor reviews for both their life insurance and Medicare supplements.
Here is a BBB profile of Colonial Penn from customers that give it an average of 1/5 stars.
These ratings are true across America for Colonial Penn.
Unfortunately, many policyholders are not happy with Colonial Penn, which is a huge reason we suggest looking elsewhere.
Colonial Penn Medicare Supplements Summary
Overall, we don’t see any reason to choose Colonial Penn for Medicare supplements.
Their prices are high and they have very poor reviews that they have not addressed.
The truth is all Medicare supplements are the same in terms of what they cover. Plan G is the same as a Plan G with another company.
You will lose hundreds of dollars a year by picking the wrong company for your Medicare supplement needs.
Compare 15+ different companies today by filling out our quoter and see rates instantly in your area.
We look forward to working with you!
FAQs
