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State Farm Medicare Supplement Insurance 2024 Review
State Farm doesn’t always have the lowest Medigap prices, but its members almost never complain about their policies.
Alex Rosenberg Lead Writer | Medicare, health care, legislation
Alex Rosenberg is a NerdWallet writer focusing on Medicare and information technology. He has more than 10 years of experience researching and writing about health care, insurance, technology, data privacy and public policy. His research has supported lawmakers in the Wisconsin State Legislature as well as health systems and national health authorities in the U.S. and more than 10 other countries. He is based in Stoughton, Wisconsin.
Holly Carey joined NerdWallet in 2021 as an editor on the team responsible for expanding content to additional topics within personal finance. She currently leads the Medicare team. Previously, Holly wrote and edited content and developed digital media strategies as a public affairs officer for the U.S. Navy. She is based in Virginia Beach, Virginia.
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
NerdWallet’s ratings are determined by our editorial team. The scoring formula incorporates pricing, complaint data, online quote availability, coverage options and more.
State Farm sells Medigap policies in most states, and members have few complaints about the company. However, the prices could be lower, and competitors offer more opportunities for discounts or added perks with your policy.
Plan types offeredMedigap plan types the company generally offers (availability may vary by location). Options include Plans A, B, C, D, F, G, K, L, M and N
A, C, D, F, G and N.
NAIC complaint rateHow often the company’s members file complaints about their policies as compared to the industry average, according to data from the National Association of Insurance Commissioners (NAIC). NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
Far fewer than expected
Premium discounts availableBased on the number and size of a company’s available discounts on monthly premiums, in comparison to other insurance companies.
Below average
Pros
Complaint rates over 50% below the market average.
Competitive prices in some higher-cost locations.
Cons
Few discounts or health and wellness perks.
High premiums in some locations.
Plan types offeredMedigap plan types the company generally offers (availability may vary by location). Options include Plans A, B, C, D, F, G, K, L, M and N
A, C, D, F, G and N.
NAIC complaint rateHow often the company’s members file complaints about their policies as compared to the industry average, according to data from the National Association of Insurance Commissioners (NAIC). NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
Far fewer than expected
Premium discounts availableBased on the number and size of a company’s available discounts on monthly premiums, in comparison to other insurance companies.
Below average
Pros
Complaint rates over 50% below the market average.
Competitive prices in some higher-cost locations.
Cons
Few discounts or health and wellness perks.
High premiums in some locations.
State Farm is one of NerdWallet’s top 2024 Medigap picks. It sells Medigap policies in most states and members have few complaints about them. However, prices could be lower in some locations, and competitors offer more opportunities for discounts or added perks with your policy.
Here’s what you need to know about State Farm Medicare Supplement Insurance.
Why trust NerdWallet
45+ Medicare companies and brands analyzed by our team of experts.
30+ years of combined experience covering Medicare and personal finance.
NerdWallet’s Medicare content, including articles, reviews and recommendations, is produced by a team of writers and editors who specialize in Medicare. Their work has appeared in The Associated Press, Washington Post, Nasdaq, MSN, MarketWatch, Yahoo! Finance and other national and regional media outlets. They have been cited in publications including Healthline, and appeared on NerdWallet's "Smart Money" podcast.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account consumer complaint and customer satisfaction data.
State Farm Medicare Supplement Insurance earned 4.5 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account pricing, coverage options, online quote availability, complaint data from the National Association of Insurance Commissioners and more.
Still deciding on the right carrier? Compare Medigap plans
State Farm Medicare Supplement Insurance pros and cons
State Farm’s Medigap offerings have advantages and disadvantages.
Pros
Minimal complaints: State Farm members file complaints at rates over 50% below the average for all Medigap insurance companies on the market.
Low prices in certain locations: Premiums in Los Angeles, a high-cost location, were the lowest on the market.
Cons
Not many perks or discounts: State Farm doesn’t keep up with competitors that offer various discounts on premiums and added perks like fitness benefits.
High prices in certain areas: In some locations, you can find significantly lower prices on plans from State Farm’s competitors, even before discounts.
Medigap Plan A — the basic benefits included in every Medigap plan without any extras.
Medigap Plan D — a middle cost option that covers most Medigap benefits.
Medigap Plan G — the highest-coverage option available to new Medicare members.
Medigap Plan N — a plan with lower premiums but higher copays.
State Farm also offers Medigap Plan C and Medigap Plan F for qualifying beneficiaries who were eligible to enroll in Medicare prior to 2020. Newer Medicare members can’t buy these plans from any company.
In addition, State Farm offers Medicare Supplement Insurance in Minnesota and Wisconsin that fits each state’s respective standards, which differ from the standardization system used in the majority of the country.
Select your state on State Farm’s website to see the Medigap plan types available in your location.
💬 From our Nerds: Is State Farm a good Medicare Supplement Insurance company?
"On NerdWallet’s rubric, State Farm gets a score of 4.5 out of 5 stars, and it’s one of the top companies I’d recommend to someone shopping for Medicare Supplement Insurance in 2024. State Farm especially stands out for having very low rates of customer complaints.
"Why 4.5 stars and not 5? State Farm’s most notable shortcoming is that it doesn’t offer the kinds of premium discounts we see from many other companies. Some competitors also outscored State Farm for plan prices, extra perks and spending on benefits rather than overhead."
State Farm’s prices vary significantly by location — sometimes they’re the cheapest, but sometimes they’re less competitive. State Farm’s prices for Medigap Plan G were about 30% higher than the least expensive option in the area, on average. Prices for Plan N were about 27% higher.
How we compare Medigap companies' prices
The following price estimates were obtained for three metropolitan areas representing above-average, average and below-average costs for the most popular Medicare Supplement Insurance plans (Plan G and Plan N)
NerdWallet analysis of American Association for Medicare Supplement Insurance data. Best Costs Medigap 2024 – Plan G. Accessed Feb 9, 2024.
The sections below show estimated pricing information from State Farm for a 65-year-old female nonsmoker as filed with the Centers for Medicare & Medicaid Services
. (Note: Some Medigap prices may be higher for males.)
For comparison, each table also includes the price for the least-expensive option to buy the same plan from any company that filed prices. For example, State Farm’s lowest estimated price for Medigap Plan G in Los Angeles appears alongside the lowest price on Medicare.gov for all Plan G policies available in Los Angeles to an applicant with identical demographic
Some Medicare Supplement Insurance companies might offer premium discounts to qualifying enrollees who, for example, bundle multiple kinds of insurance, set up autopay or live with another adult who has a Medigap policy from the same company.
State Farm doesn’t advertise premium discounts specific to its Medigap policies.
State Farm member complaints
54% fewer complaints than average
State Farm members file complaints about their Medicare Supplement Insurance policies 54% less often than the average for all Medigap insurance companies, according to 2022 and 2023 data from the National Association of Insurance Commissioners
National Association of Insurance Commissioners. Company Complaint Index. Accessed Jul 17, 2024.
. (The other 25% went to overhead expenses like administrative costs, marketing, salaries and commissions.) For comparison, the average for all companies is 80.4%.
Medicare Supplement Insurance companies must report data on the premiums they collect and how much they spend to provide benefits for members. The minimum required by law for individual Medigap policies is 60%
Medigap plans have standardized Medicare benefits, but insurance companies can offer additional perks. While some competitors offer extra benefits like gym memberships or discounts on hearing aids and eyewear, State Farm doesn’t publicize similar extras for its Medicare Supplement Insurance policies.
State Farm Medicare Supplement Insurance service area
State Farm offers Medicare Supplement Insurance in 45 states and Washington, D.C. (State Farm doesn’t offer Medigap policies in Connecticut, Massachusetts, New Jersey, New York or Rhode Island.)
As of the end of 2022, State Farm covered about 103,000 Medigap beneficiaries and had about a 0.9% share of the total Medicare Supplement Insurance market
Here’s how State Farm Medigap members can contact customer service:
Contact your local State Farm agent.
Call State Farm at 800-782-8332 (TTY dial 711 and follow the prompts).
Compare Medicare Supplement Insurance companies
Get more information below about some of the major Medicare Supplement Insurance companies. These insurers offer Medigap plans in most states, but specifics may vary depending on your location.
State Farm, headquartered in Bloomington, Illinois, was founded in 1922 to provide auto insurance to rural customers. Its lines of business have since grown to include home, business, life, health and disability insurance, as well as banking, investing and other financial services. Medicare Supplement Insurance is State Farm’s only Medicare product.
Find the right Medicare Supplement Insurance plan
Because Medigap plans are standardized, you can get precisely the same Medicare benefits from any company offering the plan. So when you shop, keep these considerations in mind to find the best policy to fit your needs:
Is your preferred plan available? Health insurance companies don’t always sell every plan, so check who sells the plan you want to buy in your area.
What are the premiums? Prices for the same plan can vary between companies, so check to find the most competitive rates.
Will your premiums change over time? Most policies cost more as you age, but some companies offer policies that let you lock in a price when you sign up.
Are there extras? Medigap plans’ core benefits are standardized, but in certain cases, some companies include such perks as discount programs or gym memberships.
If you have additional questions about Medicare, visit Medicare.gov or call 800-MEDICARE (800-633-4227, TTY 877-486-2048).
Medicare Supplement Insurance ratings methodology
NerdWallet’s Medicare Supplement Insurance (Medigap) ratings are based on pricing, discounts, plan types offered, complaint data from the National Association of Insurance Commissioners, consumer experience, additional perks and benefits, and more. To calculate each health insurance company's rating, we adjusted the scores to a curved 5-point scale, rounded to the nearest half star.
NerdWallet reviewed 13 Medicare Supplement Insurance companies based on highest enrollment and greatest online search volume. At the national level, our scored reviews include companies covering about two-thirds of all Medigap beneficiaries. At the state level, our research includes at least one of the two largest Medigap insurance companies in 48 of the 50 states, plus Washington, D.C.
These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best coverage and rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines and full ratings methodology for Medicare Supplement Insurance.
Insurer complaints methodology
We examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, we calculated a similar index for each insurance company, weighted by market shares of each subsidiary. We score companies based on this index of how many complaints the company receives relative to its market share. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
