Top 3 Worst Medicare Supplement Companies (2023 Rates)

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There are many different Medicare supplement insurance companies to choose from.

And that’s a good thing!

However, there are some that will charge you high monthly premiums or increase rates substantially year over year.

Others will have horrible customer service.

You can compare the best and highest rated Medicare supplement companies by filling out our quoter.

Read our top 10 best Medicare supplement companies here.

This article shows you the worst Medicare supplement companies in 2023.

Table Of Contents

1. Colonial Penn
2. Harvard Pilgrim
3. State Farm
   
   

What Makes A Bad Medicare Supplement Company?

Medicare supplement rates vary greatly depending on the zip code and state you live in.

What makes a great plan and company for someone in Florida might be a terrible company in Oregon.

So while this list are some definite companies to stay away from no matter where you live, keep in mind you should compare rates based on your zip code.

Our list of worst Medicare supplement companies is based on current rates, history of rate increases, and customer service ratings for the current year.

1) Colonial Penn

Colonial Penn Medicare Supplement

Kelly Maxwell

Editor’s Rating: 2/5 Stars

Summary

Colonial Penn offers above-average prices and has many poor customer reviews.

2

Colonial Penn is a well-known provider of guaranteed issue life insurance, but they also offer Medicare supplement plans through their partnership with Bankers Life.

While they may be well-known we highly suggest finding a different company for your Medicare supplement needs.

Colonial Penn has numerous customer complaints and have poor ratings on BBB.

They also have higher rate increases in most parts of the country than other comparable companies.

You should stay away from Colonial Penn, as there are numerous other options to choose from with better reviews.

Read our full review of Colonial Penn Medicare supplements here.

2) Harvard Pilgrim

Harvard Pilgrim Medicare Supplement

Kelly Maxwell

Editor’s Rating: 2/5 Stars

Summary

Harvard Pilgrim is a regional Medicare supplement insurance provider with sky-high rates.

2

Stay away from Harvard Pilgrim if you can.

Harvard Pilgrim has sky-high rates for their Medicare supplement insurance and has a high number of poor customer reviews.

You will end up paying hundreds of dollars more a year with Harvard Pilgrim than their competitors.

Many people only choose them because they get a mail card and sign up, not knowing there are hundreds of options to choose from for their Medicare supplement needs.

Read our full review of Harvard Pilgrim Medicare supplements here.

3) State Farm

State Farm Medicare Supplement

Kelly Maxwell

Editor’s Rating: 1/5 Stars

Summary

We don’t ever see a need to go with State Farm Medicare supplements. Their prices are the highest on the list with no additional value whatsoever.

1

State Farm being on this may surprise you, but their rates are actually the worst on the list.

Don’t believe us?

Click here to start a quote with State Farm.

Their Medicare supplement rates are 50% higher than comparable companies with no additional value or benefits.

You should stay away from State Farm for you Medicare supplement needs.

Summary

While this is not an exhaustive list, these are some of the most popular companies that we see people paying too much for.

All Medicare supplement plans are standardized, meaning a Plan G from one company is the same as a Plan G from another.

All they compete on is price.

Don’t pay hundreds of dollars more a year for your Medicare supplement insurance.

Compare 15+ of the top companies now by filling out our quoter and find the best company for you.