Manhattan Life Medicare Supplement Insurance Review: Plans, Costs, & Benefits

Last Updated: January 2021

Manhattan Life Medicare Supplement Insurance is backed by over 150 years of experience and financial integrity.

In this article, we will review the Medicare Supplement insurance plans that Manhattan Life offers, the benefits of their plans, how to enroll, and more.

• About Manhattan Life Insurance Company
• Original Medicare Vs Medicare Supplement Insurance
• Medicare Supplement Insurance Vs Medicare Advantage
• Which Medicare Supplement Plans Does Manhattan Life Offer?
• How Much Do Manhattan Life Supplement Insurance Plans Cost?
• Benefits Provided by Manhattan Life Medicare Supplement Insurance Plans
• Can I Switch Medicare Supplement Insurance Plans?
• How to Enroll in a Manhattan Life Medicare Supplement Insurance Plan
• Alternatives to Manhattan Life Medicare Supplement Insurance

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About Manhattan Life Insurance Company

Manhattan Life is a subsidiary of Manhattan Life Insurance Company (MLIC). MLIC was founded in 1850 and is currently headquartered in Houston, Texas.

Manhattan Life is known for its innovation, including issuing the first group life insurance policy in 1854.

They created history by building the first skyscraper, and the tallest building in the world in New York City in 1894.

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Original Medicare Vs Medicare Supplement Insurance

Original Medicare is a government program providing health insurance for eligible individuals, and is split into two parts: Part A (hospital benefits) and Part B (outpatient and physician services).

Medicare was not designed to pay for every medical expense, but to help offset the cost of health care. The amounts that beneficiaries are responsible for are often called “gaps” and can include:

• Part A Deductible ($1,364 per in 2019)
• Part B Deductible ($185 for 2019)
• Part B Coinsurance (Beneficiaries pay 20% of Medicare-approved fees for physician and outpatient services.
• Original Medicare does NOT provide emergency coverage outside the United States
• Under Original Medicare, there is no limit to how much you might have to pay in the event of an extraordinary illness or hospitalization.

Medicare Supplement Insurance

Medicare Supplement Insurance Plans are policies issued by private companies that help pay for your share of costs under Original Medicare. They are frequently called “Medigap” Plans because they fill in the coverage gaps in Original Medicare.

There are a few things you need to know about enrolling in Medicare Supplement Insurance:

• You must be eligible for and enrolled in both Parts A and B
• You must keep paying your Part B premium (and Part A if applicable)
• You can’t also be simultaneously enrolled in Medicare Advantage
• You must obtain prescription drug coverage from a standalone Part D Drug Plan
• Your state may require you to be age 65 or older

Medicare Supplement Insurance plans are standardized across 47 states, but Minnesota, Wisconsin, and Massachusetts have their own Medigap Plan laws and regulations.

A major benefit of Medicare Supplement Plans is that they enable you to see any doctor that accepts Medicare patients, anywhere in the United States. This is true regardless of which standardized Plan you choose, or the State in which you purchase your policy. You can learn more about Medicare Insurance in our full guide here as well.

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Medicare Supplement Insurance Vs Medicare Advantage

Medigap coverage is separate from Medicare Advantage. Medicare Advantage Plans, also known as Part C, replace Original Medicare. Medicare Supplement Insurance works with Original Medicare. Other differences include:

• Medicare Supplement Insurance Plans usually have higher monthly premiums than Medicare Advantage Plans
• Medicare Supplement Insurance Plans generally have lower out of pocket medical expenses
• Many Medicare Advantage Plans have a network of preferred or required doctors. Medigap Plans allow you to see any doctor in the nation that accepts Medicare.

There are many other important differences between these Medicare Insurance options. Speak with an independent, licensed health insurance agent for a more comprehensive discussion.

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Which Medicare Supplement Plans Does Manhattan Life Offer?

Manhattan Life offers most of the standardized Medicare Supplement Plans, although they may not offer all of them in every State. They do offer the three most popular plans, F, G, and N, which are summarized below.

Manhattan Life Plan F

This Plan offers the most comprehensive coverage available. Plan F pays the following benefits:

Original Medicare Deductibles – Part A & B

• 365 extra hospital day stays
• First 3 pints of blood (Original Medicare pays after the first 3 pints)
• Hospice copayment and/or coinsurance under Original Medicare Part A
• Medicare excess charges
• 100% of Medicare Part B costs (Beneficiaries are normally responsible for 20% of Part B expenses under Original Medicare).
• Nursing home coverage
• Foreign travel Emergency Coverage, up to Plan limits

When you see the doctor, stay in the hospital, or have outpatient surgery, if the charges are Medicare-eligible, you will pay nothing out of pocket.

Manhattan Life Plan G

Plan G is very similar to Plan F. However, Plan G doesn’t pay the Part B deductible, so you must pay for the first $185 (2019 amount, subject to yearly adjustment by CMS) of expenses for Part B services.

Beginning in 2020, Plan G will be the most comprehensive Plan available for new Medicare entrants. For 2019, Plan G offers comprehensive coverage, but at a lower premium than Plan F.

Manhattan Life Plan N

This Plan has a few different features from Plans F and G, but offers similarly low out of pocket medical expenses. Part B expenses are paid for with small co-pays:

• Office visits – up to $20 co-pay
• Emergency visits – up to $50 co-pay
• Does NOT pay Part B excess-charges

Plan N gives you comprehensive coverage, protecting you from large out of pocket expenses, but at a lower premium than Plans F and G.

Manhattan Life Medicare Supplement Insurance Plans are Guaranteed Renewable for life, regardless of age or health. This means your coverage cannot be cancelled (as long as the required premium payments are made).

Upcoming Changes to Plans C, F, and G

Plans C, F, and High Deductible F will no longer be available for Beneficiaries who become eligible on or after January 1, 2020. If you already have Plan C, F, or High Deductible F, you will NOT be affected by this law change.

Beneficiaries who are eligible for Medicare before January 1, 2020 have the right to enroll in these three Plans in the future, even if not currently enrolled under Plans C, F, or HDF. Underwriting may apply, though, if no Guaranteed Issue Right exits.

2020 is also the first year that High Deductible Plan G (HDG) will be available. HDG is identical to regular Plan G except for a deductible of $2,180. The Plan pays 100% of covered expenses after you meet the deductible. The premium will be less than regular Plan G.

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How Much Do Manhattan Life Supplement Insurance Plans Cost?

Premiums for Medicare Supplement Insurance are set by individual insurance companies, and are not standardized. Manhattan Life’s premiums are subject to regulation, and can be based on:

• Enrollment age
• Age at renewal – each year
• Whether or not you use tobacco
• Standardized Plan selected
• Claims experience of the insurance company

Manhattan Life, and all other insurance companies, can adjust their premiums, and they usually do every year. As with most insurance, you can expect to pay smaller premiums at younger ages, though age is not the only determining factor.

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Benefits Provided by Manhattan Life Medicare Supplement Insurance Plans

Medicare Supplement Insurance policies issued by Manhattan Life come with these benefits:

• 30-day free look period
• Household discounts available
• 12-month rate lock-in
• Portable coverage

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Can I Switch Medicare Supplement Insurance Plans?

The short answer is maybe. It can be difficult to switch from one Medicare Supplement Plan to another, whether from one company to another, or from one Plan to another (say from Plan F to Plan A).

Most Medicare Beneficiaries have a Guaranteed Issue Right when they first become eligible for Part B. This right lasts for 6 months, during which you are guaranteed enrollment in a Medicare Supplement Insurance Plan – you can’t be declined or asked health-related questions.

If you want Medicare Supplement Insurance after this Guaranteed Issue period, you will likely have to go through medical underwriting. Your premiums may be higher based on your health, and you can be declined for coverage.

It is important to carefully consider your Medicare Supplement Plan options when you first enter Medicare since you may not be able to get coverage later in life.

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How To Enroll In A Manhattan Life Medicare Supplement Insurance Plan

When you’ve selected your Standardized Plan, enrollment is a snap. An independent, licensed agent can help you enroll:

• Online through Manhattan Life
• Over the phone
• With a paper application, face to face, or through the mail

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Alternatives to Manhattan Life Medicare Supplement Insurance

If you are considering Manhattan Life for Medicare Supplement Insurance, be sure to compare their plans with other carriers to find the right plan for your specific needs:

• Bankers Fidelity Medicare Supplement Insurance
• Humana Medicare Supplement Insurance
• Mutual of Omaha Medicare Supplement Insurance
• Cigna Medicare Supplement Insurance
• Aetna Medicare Supplement Insurance