Globe Life Medicare Supplement Review – Hard Truths [2024]

Are you on Original Medicare and hunting for a Medicare Supplement? For Medigap policies they offer, our Globe Life Medicare Supplement review on this page is going to get you up to speed with their little known product. While Globe Life is best known for their life insurance mailers that have flooded consumers mailboxes for many years, they are not well known for Medigap policies otherwise known as Medicare Supplements. If you are checking out their life insurance offers and want to get the scoop know read reviews on Globe Life and Accident Insurance instead.

History of Globe Life

Globe Life was started in 1951 when 2 men decided to create a life insurance agency with a purpose of selling life insurance to people in rural areas. The name of the agency oddly enough was, Globe Life. Over time, Globe Life has grown out of the small market to eventually offer underwritten life insurance around the US in many states using the original brand name of the agency.

Reading Globe Life Medicare Supplement Reviews

Disclaimer: We have no business relationship with Globe Life, their life insurance products or Medicare Supplement insurance. We are reviewing the Globe Medicare plans as a licensed insurance agency to better inform our patrons as to any pro’s or con’s about specific insurance insurance policies they offer. We tell the truth here. In some cases we may be very positive or very bearish. With our experience in the Medicare space and extensive training, we believe we are very qualified to give you constructive insight and advice with Medigap insurance.

I want to advise you when reading reviews related to Medicare Supplement plans from Globe…

Make sure you are comparing the correct plan letter and not just pricing. Not all insurance companies in the Medigap business offer all the Medicare standarized plans either. While Original Medicare does require each insurance plan to contain specific benefits in it, not all insurance companies will offer all of the plans. Though Medigap plans are regulated by the federal government to fit the Medicare model and pay accordingly, it does not require insurance companies to offer all the supplemental plans available on the market.

First key to remember, Plan F is not a Plan G or Plan N. Compare the plan letter for an apples to apples comparison, not the insurance company.

Rules For Globe Life Medicare Supplement Plans

As a seasoned independent agent/agency, there are a few rules we use for recommending certain carriers and Medigap plans over others. Experience has taught us a lot. The first rule is…never get hung up on the name of the insurance company. It has NOTHING to do with claims paying quality or customer service. All Medicare Supplement companies pay exactly the same if you compare the plan letter (A-N) appropriately. Medicare Supplements only pay IF Medicare signals the insurer to process your claim. The “signal” is the (Medicare) payment of 80% of the approved amount. From there, the insurance company’s payment is based on the plan letter you have selected.

It is important to note: If Medicare denies your medical claim, no Medicare Supplement insurance company or plan will pay a nickel. That is not how Globe Life Medigap plans work nor any other Medicare supplemental insurance. This is even true if you purchased the famed, top of the line, Medigap Plan F. Medigap works strictly in concert with Medicare approved claims only.

As you review Globe Life Medicare Supplement plans, another key point to remember: Globe Medicare plans do not pay better than Mutual of Omaha, Aetna, AARP/United Healthcare or any other carrier who offers the same plan. The better the plan benefits, the less exposed you are to paying out of pocket. Plan F is the most complete plan but also the most expensive of the 10+ standardized Medigap plans available on the market.

The next rule we advise our patrons. Don’t make it about the absolute lowest price when comparing the same, exact plan. There always seems to be a real “price buster” company who beats all of the competion by leaps and bounds. You must watch out for this. Find out how long the insurance company has been in the Medicare Supplement business. Next, how long have they been in Medigap insurance in your state? A good and experienced broker/agent will be able to tell you if an insurance company has been an erratic performer or has a very limited number of sales and why.

We have patrons all around the US. Clients are with several different insurance companies. Most people chose a Plan F, Plan G or Plan N. No one is complaining about their Medicare supplemental insurance company.

Companies that have a much, much lower rate than 95% of the competition and only in the state for a couple years are likely to spike in price. In other words, you’d probably be getting a big rate increase in the near future that you won’t see from more seasoned Medigap insurers who have stable and competitive pricing long term.

Globe Life also owns United American Insurance Company who has a long history of very high Medicare Supplement rates with the exception of their High Deductible plan (HD)-F and HD-G. Most people shy away from these plans in favor of standard Plan F, Plan G and Plan N. With that said, for some, we do recommend at considering High Deductible options. On the coast, such as Florida, you might check your high deductible options.

Here is where the Medicare Supplement offerings from this company fall down. You may not read this in other Globe Life Medigap reviews but it is important to note. Globe is a newer brand name to the Medicare supplement insurance business. They sell their Medicare products directly to folks rather than giving you counsel and the support of an independent brokering professional to pick the right carrier and plan for your needs. Do yourself a huge favor and utililize the free services of an independent agent who can guide you to the right product for your needs.

Globe Life Medicare Supplement Insurance: Your 7 Options

Of the 10+ standardized Medigap (Med Supp) plans created by Medicare, Globe consistently offers 7 of them. Plans A, B, C, F, HD-F, HD-G and N. Oddly enough, Globe Medicare supplement plans do not include Plan G option in many states we evaluated. The “why’s” are beyond the scope of a insurance product review. The HD options from Globe are the only 2 that are priced competitively with the top health insurance companies.

Globe Life Medicare Supplement Plan Eligibility

Without getting into a lot of detail here, your eligibility is determined by your overall health at application. The Globe underwriting department will determine approval or denial based on the information they obtain from you, the MIB and the pharmacy reporting companies that compile information from the Pharmacy managers.

Exceptions to this process are “Open Enrollment” when you initially become Medicare eligible or if you are entitled to “guaranteed issue” rights. If you are turning 65 for example, this is your 1 shot window where there are no health questions. These are Medicare rules not insurance company rules. Globe cannot bend those rules to their favor. Original Medicare is highly regulated. However, once you are out of open enrollment, you should expect to answer a number of health history questions to qualify. These rules are applied by all Medicare Supplement insurance companies, not just Globe Medicare plans.

Problems With Globe Medicare Supplement Plans

One of the issues mentioned earlier with Medicare Supplement plans from Globe Life is the name is new to the Medigap market. They were once owned by Torchmark which went thru some significant business turmoil to arrive at where they are today. Torchmark had also owned another insurance company that still offers Medicare Supplement insurance and a couple other senior insurance products. The name of that company is United American. Torchmark dissolved its own corporate name and kept the name “Globe Life” rather than continuing forward. Globe Life is now the parent company over United American.

They’re A Ripoff: Globe Life Plan F, Plan G and Plan N

The Globe Medicare plans leave a lot to be desired. For those people eligible for Medicare prior to January 1, 2020, there is the optional Globe Life plan F. As I look at the pricing across the different states… most Globe Life Medigap plans can only be termed as “a ripoff.” It is consistently priced higher than its sister company, United American. Compared to the top Medicare Supplement companies, it is outrageous. For example, a 70 year old female in Kalamazoo, Michigan is $262.50 per month to own a Globe Plan F. The same exact plan with Mutual of Omaha at this time is $146.03/month. Beyond that are even lower cost carriers that also offer the Plan F as well. Imagine overpaying almost $1400.00 a year or more for the exact same thing, except a different name on it. Whether owning a Globe Medicare plan, Aetna, Mutual of Omaha, Cigna, AARP/United Health Care… that Plan F will perform identically for you.

Now, this is just one example.

As previously mentioned, I’ve looked at the Globe rates around across the US. We help people get insured all around the country. Globe Life Medicare Supplement plans just do not appeal to those people who need the coverage. Forget this carrier unless you intend to consider a high deductible plan (HD-F or HD-G). Mutual of Omaha is still going to be a more established carrier and offer lower rates on these plans as well. They also have a lot more policyholders and a long history of offering competitive Medicare Supplement Insurance rates.

United American Insurance Company has always sold Medicare Supplement insurance thru licensed agents. It is not a “direct” to consumer carrier and most are not. This is for good reason, Medicare is not easy to understand for most people. You have important financial decisions regarding Medicare you need to make. United American, well… they priced themselves out of the market 25+ years ago. They have a long history of having very high premiums compared to the competition but do have place in the market for people who live along certain coastal states with their Plan HD-F and HD-G.

Globe Life Medicare Supplement plans appear be rebadged and already overpriced Medigap plans from United American sold “directly” to you,if you qualify for coverage. Without looking into the underwriting questions, it is not a good place for seniors in decent health for sure. Data I have indicates very limited policies sold. This makes sense. Medicare Supplement plans from Globe Life are expensive even compared to United American. They do not seem to offer a standard Plan G in many states either. Their subsidiary, United American struggles to keep agents because Plan F, Plan G and Plan N are not competitive with the top carriers on the market. Most seniors are on a fixed income and not interested in getting massively overcharged.

While United American has a long history in Medicare plans, Globe Life itself has little. Selling “direct” has not boded well for premium stability nor service for policy owners. The few carriers that have tried this marketing strategy end up being more expensive than the top Medicare Supplement insurance companies. Based on experience and on what I am seeing in my technology tools as a broker, Globe Medicare Supplement plans don’t “make the cut.”

Advice On Medicare Supplement Insurance From Globe Life

My objection to the Globe Life Medicare Supplement plans in this review are pretty obvious and even repetitive, I know. It is clearly being offered to you, the consumer, at a very high price point. They have a subsidiary, sister insurance company that offers Medicare Supplement insurance at high prices as well but thru outside insurance agents. For some reason, Globe has decided to charge you more money for the same thing. Now, in fairness, it is very possible that the medical underwriting is very liberal which means they will except people in poorer health compared to other insurance companies. Most seniors will find there are insurance companies that can offer them much better rates. Remember, these policies are designed for seniors health. You do not have to be in A1 health to necessarily make a change. An independent professional can guide you thru this process and help you obtain the best plan for your needs and budget.

Medigap policies were standardized in 1992 by the Federal Gov’t. All Medigap policies with the same plan letter will pay the same, including the Globe Life Medicare Supplement plan f. Medicare Supplements must be of the same mold required by the government.

Note: If you were not eligible for Medicare prior to January 1, 2020, you cannot apply or purchase a Plan F from any insurance company. Medicare nor the insurance company will allow this. For more details on why newer Medicare beneficiaries are not eligible you may get the details in our Plan F summary guide.

No Medigap insurance company or plan covers non Medicare approved charges.

Globe Medicare plans are no exception. Disregard any Globe Life Medigap reviews that say otherwise.

Why? Because Medicare itself has made this very clear in the official Medicare and You Guidebook. This is the bible of the rules and regulations created by the federal government to ensure seniors have a way of comparing the Medicare insurance options among the different health insurance companies that offer coverage. Carriers that are not paying claims per the regulations of original Medicare would be terminated from the business. Personally, I have written a lot business for clients around the country with several different Medigap insurance companies. No one complains that company “A” paid better than company “B”, ever.

Ultimately, if you are on a fixed income, the price for the plan you purchase should be competitive with the majority of the competition. The “lowballers” and “highballers” should not be taken seriously. Make sure your independent health insurance agent/broker knows the “in’s and out’s” of the business before buying. Many seniors are sold a flash in the pan only to have a major health event which locked them into a Medigap policy that exploded in price due to a serious health condition.

Unlike Medicare Advantage plans, Medicare Supplements are medically underwritten. This means you must qualify based on your health. While there are some exceptions to this such as your initial enrollment in Medicare, Globe Medicare Supplement plans are NOT like Medicare Advantage.

With that being said, don’t be gouged by any insurance carriers out in left field. Reading Globe Medicare Supplement reviews is a really good start but we recommend consulting with an independent professional to help you find your best options.

Globe life is not offering the services (free consultation and support, access to all the top carriers and unbiased advise) that a seasoned, independent insurance agent/broker is giving to all of their clients.

Conclusion: Globe Life Medigap Plans Reviewed

I don’t forsee Globe Life having a lot of success in the Medigap space. Globe Life has certainly sold a large number of life insurance policies since 1951. With that said, in my opinion, they should pack it in on selling Globe Medicare supplement plans or go back to the drawing board and create a more competitive premium.

For many of you who have read various Globe Medicare Supplement reviews, this may not be the report card you were looking for. Maybe you have a Globe life insurance policy and thought they might be a “winner” for Medicare? You got the truth here in our review.

Ladies and gentleman, I’ve been around the block for many years as an independent agent/broker. While having access to dozens of insurance companies some of whom I previously mentioned, we don’t work for any insurance company. Your going to hear the good and the bad. The data in my system is pretty clear about Globe’s Medigap market share. Do yourself a big favor and look elsewhere.

If you want to talk with a Medicare Supplement, “Medigap” policy expert, give us a call. Globe Life supplemental insurance is not a path to go down unless you’re interested in their High Deductible (HD) Plans, HD-F or HD-G. Don’t waste anymore of your time. Globe can only offer you their Medicare Supplement insurance.

Since the vast majority of insurance companies only sell their policies thru independent agents/agencies like Maple Valley Insurance Group, for the best results, make a phone call and get personal help from someone not “captive” with 1 insurance company. This is a problem a Medigap consumer will have with Globe and why Medicare advises in their guide to carefully shop your Medigap plan A-N with different carriers to compare cost. Original Medicare designed the plans so you can do a quick cost comparison on an apples to apples basis.

Again throw out the price outliers. The competition is in the middle for good reason.

Don’t expect to find any glowing reviews of Globe Life Medicare Supplement plans. Well, except from the insurance company itself who I’m sure would happily tell you otherwise. Medicare supplement plans from Globe do not offer anything over the top Medigap carriers in the business… except the high price.

Medicare can be confusing. Trying to find the best policy for you takes dedicated knowledge and experience in the market. If you’ve read enough Globe Life Medigap reviews, give us a phone call and let us shop your Medigap/Medicare supplement needs out. Find out who really has the best Medicare plan for your healthcare and dollar. 269-244-3420

As always feel free to comment below.

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