Introduction to Lumico
Lumico is a relatively new player in the Medicare Supplement market, founded in 2018. However, the company is backed by Swiss Re, a leading global reinsurance company, and Elips Life, a Swiss-based life insurance company. Lumico’s mission is to provide affordable and reliable Medicare Supplement plans to seniors across the United States.
Lumico Medicare Supplement Plans
Lumico offers several Medicare Supplement plans, including Plan A, Plan F, Plan G, Plan N, and high-deductible Plan G. These plans help seniors cover the costs that Medicare does not pay for, such as deductibles, coinsurance, and copayments. All Lumico Medicare Supplement plans are standardized and regulated by the federal government, ensuring that beneficiaries receive the same level of coverage regardless of the insurance company they choose.
For a comprehensive guide on how to compare different Medicare Supplement plans read this article.
Availability of Lumico Medicare Supplement Plans
Lumico Medicare Supplement plans are currently available in the following states: Alabama, Arizona, Arkansas, Colorado, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Mississippi, Missouri, Nebraska, New Mexico, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and West Virginia.
The company is actively expanding its coverage area and plans to be available in more states soon.
Ratings and Reviews of Lumico
Lumico has been rated by A.M. Best and has received an A- rating, indicating strong financial stability and a low risk of default.
While Lumico is not rated by S&P, Moody’s, or Fitch, the company has received positive feedback from customers, earning a 4.5 out of 5 rating from JD Powers.
Household Discounts for Lumico Medicare Supplement Plans
Lumico offers a household discount for its Medicare Supplement plans. To be eligible for this discount, two individuals living in the same household must purchase a Medicare Supplement plan from Lumico. The discount amount varies by state, but it can be up to 14% in some cases.
How to Purchase a Medicare Supplement Plan through CoverRight
If you are interested in purchasing a Lumico Medicare Supplement plan, you can do so through CoverRight.com. CoverRight is an online platform that provides you with quotes from multiple insurance companies, including Lumico. This allows you to compare rates and plans from different companies to find the best coverage at the best price.
Conclusion
Lumico is a newer player in the Medicare Supplement market, but it is backed by reputable companies and has received positive feedback from customers. The company offers a range of Medicare Supplement plans to help seniors cover the costs that Medicare does not pay for, and it offers a household discount to eligible customers. If you are interested in purchasing a Lumico Medicare Supplement plan, consider using CoverRight.com to compare rates and plans from different companies to find the best coverage at the best price.
