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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.
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Written by Alex Rosenberg
Lead Writer
The bottom line: 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. Jump to: Full Review
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State Farm Medicare Supplement Insurance pros and cons
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.
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» More options in our roundup of the best Medicare Supplement Insurance companies
Our full review
Why trust NerdWallet
State Farm Medicare Supplement Insurance rating
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.
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.
State Farm Medicare Supplement Insurance plans
State Farm offers four Medicare Supplement Insurance plan types 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.
💬 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."
Note: Since Medigap plan options can vary by location, it’s a good idea to do your research, compare multiple quotes and consider working with a licensed insurance agent for more personalized recommendations.
— Alex Rosenberg, lead writer covering Medicare
Cost for State Farm Medicare Supplement Insurance
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 26% higher than the least expensive option in the area, on average. Prices for Plan N were about 24% higher.
How we compare Medigap companies' prices
Plan G
State Farm price | Medicare.gov lowest price | |
|---|---|---|
Los Angeles | $148. | $148. |
Atlanta | $184. | $125. |
Dallas | $141. | $109. |
Plan N
State Farm price | Medicare.gov lowest price | |
|---|---|---|
Los Angeles | $114. | $114. |
Atlanta | $141. | $95. |
Dallas | $102. | $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
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. That’s the lowest of any Medigap company NerdWallet reviews.
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
State Farm Medigap plans spent about 75% of premiums on member benefits, according to the most recent year of data. (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%.
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.
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).
Best for Member satisfaction
State Farm
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.
(855) 432-0512 / TTY 711
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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 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.
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 15 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.
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