by Russell Noga | Updated October 26th, 2023
Prosperity Medicare supplement plans help seniors cope with the out-of-pocket costs associated with Original Medicare Parts A & B. Original Medicare doesn’t cover all medical and hospital costs associated with your treatments and care. A Medigap plan partially or fully covers the remaining expenses.
Private healthcare insurance companies, like Prosperity, offer Medigap plans, and you can sign up for a policy during the six months after turning 65, known as “Open Enrollment.” Prosperity must accept your application to join its Medigap scheme during this period, even if you have pre-existing health conditions.
This post unpacks the Medigap offering from Prosperity. We’ll look at their range of Medigap plans, the average rate for plan premiums, the benefits you receive, perks, and more.
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Prosperity Medicare Supplement Plans at a Glance
- Prosperity offers Medigap plans in 24 states.
- The company focuses on providing the most popular plans, A, F, G, & N.
- Prosperity offers a good household discount of up to 7%.
- Beneficiaries don’t have options for add-on policies for dental, vision, or hearing services or options for discounted rates with partners offering these services.
Who Is Prosperity?
Incorporated in 2009, Prosperity Life Insurance Group started offering Medigap policies in 2010. The company has headquarters in New York and VA. Prosperity uses its subsidiaries in some states: S.USA Life Insurance Company, Inc in Mississippi, SBLI USA Life Insurance Company in Arizona, and Shenandoah Life Insurance Company. Prosperity offers Medigap policies in 24 states.
What Medicare Supplement Plans Does Prosperity Offer?
Prosperity focuses on offering the most popular Medigap plans A, F, G, and N. All Medigap providers must offer Plan A, as per CMS guidelines. Here’s a brief breakdown of the coverage available in each plan.
Plan A – This policy is the most basic offering in the Medigap range. You get coverage for most Medicare Part A benefits, except the Part A deductible. There’s also coverage for Medicare Part B coinsurance and copayments. It’s a good choice for low-income seniors seeking an affordable Medigap plan.
Plan F – Medicare Plan F offers beneficiaries the highest level of coverage of all the Medigap plans. It covers the Medicare Part B deductible, giving you true “first dollar coverage” for all Medicare Part A & B expenses. To enroll in Plan F you must have been enrolled in Medicare Part A prior to January 1st of 2020.
Plan G – This policy offers similar benefits to Plan F. However, Medigap Plan G doesn’t include coverage for the Medicare Part B deductible. It’s the best choice for seniors who don’t qualify for Plan F but want the highest level of coverage in the Medigap range.
Plan N –Medicare Supplement Plan N has lower premiums than both Plan F and Plan G. This policy has copayments at the doctor and emergency room, and it doesn’t cover Medicare Part B excess charges for seeing doctors charging more than Medicare-approved rates (Medicare assignment).
Prosperity Medicare Supplement Plans – Benefits & Coverage
The CMS is a federal agency responsible for regulating the Medigap industry. They bring consistency to the market by ensuring all Medigap providers offer standardized benefits in Medigap plans. The benefits you get in a Prosperity Medigap plan are the same as with any other healthcare insurer offering Medicare supplement policies.
All Medigap plans offer the following benefits for Original Medicare Parts A & B.
- Part A coinsurance and hospital costs for up to 365 days after using Medicare benefits.
- Part A hospice care coinsurance or copayment.
- Part B coinsurance or copayment.
- Blood transfusion costs for the first three pints of blood.
Plans F*, G, and N offer additional Medicare Parts A & B benefits.
*Plan F is only available to seniors qualifying for Original Medicare before January 1, 2020. You cannot enroll in Plan F if you’re eligible after this date. However, if you qualify for Medicare before the cut-off, you can request a Plan F policy from Prosperity.
Prosperity might require you to undergo medical underwriting with your application. If you have pre-existing conditions, Prosperity can charge you higher-than-average premiums or deny your request to join its Medigap scheme. You might qualify for guaranteed issue rights that circumvent the need for medical underwriting.
Call our fully licensed Medigap agents, and we’ll discuss your options.
What Prosperity Medicare Supplement Plans Don't Cover
Medigap plans only cover expenses relating to Medicare Part A & B benefits. They don’t cover cosmetic procedures or preventative treatments at chiropractors, physiotherapists, acupuncturists, or podiatrists. In some instances, Medicare will cover these services if your doctor deems them medically necessary treatments.
Medigap policies don’t cover the cost of stays at nursing homes or private duty nursing. There’s no coverage for prescriptions or hearing, dental, and vision services.
Prosperity Medicare Supplement Plans – Premiums
Prosperity uses a risk assessment when setting your premiums. Factors influencing your risk profile include your age, gender, location in the United States, and your smoking status. A 65-year-old female nonsmoker can expect to pay the following average premiums for Medigap plans with Prosperity.
*Your premiums may vary depending on your unique risk profile.
Prosperity Medicare Supplement Plans – Additional Benefits & Discounts
Prosperity offers a 7% household discount in most states. The company also has an app allowing members to file claims and manage their accounts. No additional coverage or discounts are available for vision, hearing, and dental services.
Prosperity Medicare Supplement Plans – Third-Party Ratings & Reviews
Prosperity has an A- rating with AM Best and an A+ rating with the Better Business Bureau (BBB).
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Frequently Asked Questions
What are Prosperity Medicare Supplement plans?
Call Us for More Information on Prosperity Medicare Supplement Plans
Our fully licensed Medigap agents are available for a free consultation at 1-888-891-0229. Call us for a free quote and advice on the right Medigap plans for your healthcare requirements.
If you can’t call us right now, complete the contact form on this site, and we’ll get a Medigap agent to call you. Or you can use the automated quoting tool on our site to get a free quote on premiums for any Medigap plan.
Russell Noga is the CEO of Medisupps.com, an online Medicare Agency and resource center helping Medicare beneficiaries learn about Medicare, Medigap and Part D drug plans, and Medicare Advantage plans since 2009. Russell is licensed in all 50 states and has been featured as a keynote speaker, and author of several publications, along with hosting the very popular Medisupps.com Youtube channel.