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.
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Written by Alex Rosenberg
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Edited by Holly Carey
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State Farm Medigap

State Farm

4.0

NerdWallet rating 

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.

M-F 9am-9pm ET, Sa 10am-9pm ET

Speak to a licensed insurance agent on askchapter.org

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from askchapter.org

Plan types offered

A, C, D, F, G and N.


NAIC complaint rate

Far fewer than expected


Premium discounts available

Below average


Plan types offered

A, C, D, F, G and N.


NAIC complaint rate

Far fewer than expected


Premium discounts available

Below average


Pros

  • Complaint rates over 60% 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 probably best known for auto insurance, but the company also offers medical insurance products including Medicare Supplement Insurance, or Medigap.

State Farm sells Medigap policies in most states and members have few complaints about them. However, the 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.

45+ Medicare companies and brands analyzed by our team of experts.

30+ years of combined experience covering Medicare and personal finance.

Governed by NerdWallet's strict guidelines for editorial integrity.

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.

State Farm Medicare Supplement Insurance

4.0

NerdWallet rating 

State Farm Medicare Supplement Insurance earned 4 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, complaint data from the National Association of Insurance Commissioners and more.

Based on these ratings, State Farm Medicare Supplement Insurance is one of the highest rated options on our list of the best Medicare Supplement Insurance companies.

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 61% 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.

State Farm Medicare Supplement Insurance plans

State Farm offers four Medicare Supplement Insurance plans available for purchase by any Medicare beneficiary in most states:

  • 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.

Cost for State Farm Medicare Supplement Insurance

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.
:

  • Los Angeles: More expensive than average.

  • Atlanta: Average cost for the U.S.

  • Dallas: Less expensive than average.

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

Centers for Medicare & Medicaid Services. Find a Medigap Policy That Works For You. Accessed Jan 10, 2024.
. (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 demographics.

Plan G

On average, State Farm’s quoted prices for Medigap Plan G were about 24% higher than the least-expensive Plan G policy in the area.

State Farm price

Medicare.gov lowest price

Los Angeles

$137.

$137.

Atlanta

$166.

$119.

Dallas

$144.

$109.

Plan N

On average, State Farm’s quoted prices for Medigap Plan N were about 23% higher than the least-expensive Plan N policy in the area.

State Farm price

Medicare.gov lowest price

Los Angeles

$105.

$105.

Atlanta

$127.

$90.

Dallas

$104.

$82.

Discounts

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

61% fewer complaints than average

State Farm members file complaints about their Medicare Supplement Insurance policies 61% less often than the average for all Medigap insurance companies, according to 2022 data from the National Association of Insurance Commissioners for State Farm

National Association of Insurance Commissioners. Company Complaint Index. Accessed Jan 10, 2024.
.

NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.

State Farm’s spending on care

75% for member benefits

Medicare Supplement Insurance companies must report data on the premiums they collect and how much they spend to provide benefits for members.

Based on the most recent year of data, State Farm Medicare Supplement Insurance plans spend about 75% of premiums on member benefits

. (The other 25% goes to overhead expenses like administrative costs, marketing, salaries and commissions.)

For comparison, the average for all companies is 80.4%. The minimum required by law for individual Medigap policies is 60%

Code of Federal Regulations. Title 42, Part 403, Section 215. Accessed Jan 10, 2024.
.

Additional benefits

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

National Association of Insurance Commissioners. 2022 Medicare Supplement Loss Ratios. Accessed Feb 9, 2024.
.

State Farm Medigap customer service

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.

About State Farm

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.

Still deciding on the right carrier? Compare Medigap plans

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