transamerica medigap review — Transamerica is one of America’s oldest and most recognized insurance brands. The company traces its roots back to 1904. It now operates as a subsidiary of Aegon, a global financial services group based in the Netherlands. Transamerica Life Insurance Company is headquartered in Cedar Rapids, Iowa.
- Transamerica Overview and Financial Strength
- Transamerica Medigap Review: Medicare Plan Options
- Transamerica Medicare Rates and Enrollment
- Transamerica Additional Benefits and Perks
- Transamerica Claims Process and Customer Service
- Pros and Cons of Transamerica Medicare Plans
- Who Is Transamerica Best For?
- Frequently Asked Questions
The insurer offers Medicare Supplement plans in more than 45 states plus Washington, D.C. With over a century of experience, Transamerica brings strong financial backing to the Medigap market. However, its customer complaint history raises important questions. This transamerica medigap review will cover everything Medicare beneficiaries need to know before choosing a plan.
Transamerica Overview and Financial Strength
Transamerica has been selling insurance products since the early 1900s. Aegon acquired the company in 1999. Today, Transamerica serves millions of policyholders across life insurance, retirement, and health products. The company is well-capitalized and maintains solid reserves. For example, its parent company Aegon manages hundreds of billions in assets worldwide. That financial depth supports Transamerica’s ability to pay Medicare Supplement claims.
AM Best gives Transamerica Life Insurance Company an A (Excellent) rating. This reflects strong claims-paying ability and financial stability. However, the NAIC complaint ratio tells a different story. Transamerica’s complaint index is approximately 3.86, nearly four times the national median of 1.00. According to data from the National Association of Insurance Commissioners, this means Transamerica receives far more complaints per premium volume than the average insurer. Most complaints involve customer service delays and policy administration issues.
Transamerica is not currently accredited by the Better Business Bureau. The BBB shows over 330 complaints closed in the past three years. In most cases, these complaints relate to processing delays rather than claim denials. The table below summarizes Transamerica’s key ratings from independent sources.
| Rating Source | Score / Grade |
|---|---|
| AM Best Financial Strength | A (Excellent) |
| CMS Star Rating | N/A — no Medicare Advantage plans |
| NAIC Complaint Index | 3.86 (national median: 1.00) |
| JD Power Medicare Satisfaction | Not individually rated |
| BBB Accreditation | Not accredited; 330+ complaints in 3 years |
Transamerica Medigap Review: Medicare Plan Options
Transamerica focuses exclusively on Medicare Supplement insurance. The company does not sell Medicare Advantage, Part D prescription drug, or Special Needs Plans. This is an important distinction. If you want an all-in-one managed care plan, Transamerica is not the right fit. However, if you want traditional Original Medicare with a Medigap policy to fill coverage gaps, Transamerica offers a strong lineup.
Transamerica offers up to 10 standardized Medigap plan letters. These include Plans A, B, C, D, F, G, K, L, M, and N. As a result, beneficiaries have broad flexibility to choose the coverage level that fits their budget. Plan G is the most popular option. It covers the Part A deductible, skilled nursing coinsurance, Part B excess charges, and foreign travel emergencies. Plan N is a lower-cost alternative. It covers similar benefits but requires small copays for office and emergency room visits. Plan F is available only to those who became Medicare-eligible before January 1, 2020.
Because Medigap plans are standardized by the Centers for Medicare and Medicaid Services (CMS), a Plan G from Transamerica covers exactly the same benefits as a Plan G from any other insurer. The only differences between carriers are price, customer service, and financial stability. This transamerica medigap review finds the company competitive on price but weaker on service metrics. Availability varies by state. California, Maryland, and Ohio may offer a more limited plan selection.
Transamerica Medicare Rates and Enrollment
One of the strongest points in any transamerica medigap review is pricing. Transamerica’s rates tend to fall below national averages. At age 65, Plan G averages roughly $238 per month. That is about $35 less than the national average. Plan N averages around $193 per month at the same age. These competitive rates make Transamerica attractive to cost-conscious beneficiaries.
Transamerica uses issue-age pricing in most states. This means your premium is based on your age when you first enroll. Your rate will not increase simply because you get older. However, premiums can still rise due to inflation and medical cost trends. Five states use community-rated pricing instead. Connecticut, Idaho, Maine, New York, and Washington charge the same rate regardless of age. Transamerica also offers a 5% EasyPay discount for enrolling in automatic payments.
You can enroll in a Transamerica Medicare Supplement plan through a licensed insurance agent. Transamerica does not sell Medigap policies directly online. The best time to enroll is during your Medigap Open Enrollment Period. This six-month window starts when you turn 65 and are enrolled in Medicare Part B. During this period, Transamerica cannot deny you coverage or charge higher rates due to health conditions. As noted on medicare.gov, guaranteed-issue rights protect your ability to buy any Medigap plan during open enrollment. Outside this window, Transamerica may require medical underwriting.
Transamerica Additional Benefits and Perks
Standardized Medigap plans do not include extras like dental, vision, or hearing coverage. However, Transamerica offers optional add-on riders for these benefits. For an additional premium, you can add routine dental care, vision exams, and hearing aid coverage to your Medigap policy. This is a notable perk in any transamerica medigap review. Many competitors do not offer these riders at all.
Because Transamerica sells Medigap plans rather than Medicare Advantage, certain benefits are not included. There is no SilverSneakers fitness membership, no over-the-counter allowance, no meal delivery, and no transportation benefit. These extras are typically found in Medicare Advantage HMO and PPO plans. As a result, beneficiaries who prioritize supplemental wellness benefits may want to explore Medicare Advantage options from other carriers.
One significant advantage of Transamerica Medigap coverage is provider freedom. You can see any doctor or specialist who accepts Medicare anywhere in the United States. There are no network restrictions, no referral requirements, and no prior authorization hurdles. For beneficiaries who travel frequently or split time between states, this flexibility is extremely valuable. Many Medicare beneficiaries also carry a life insurance policy to protect their family — you can compare life insurance rates at Life Insure Guide to review your options alongside your Medigap coverage.
Transamerica Claims Process and Customer Service
Transamerica provides an online policyholder portal at MyMedSuppInfo.com. Through this portal, you can check claim status, view policy details, and manage your account. Claims can also be submitted by phone, email, mail, or fax. The general customer service number is 888-763-7474. The dedicated claims line is 855-244-8318. Typically, Medicare Supplement claims are filed automatically by your healthcare provider.
This transamerica medigap review must address the company’s customer service track record honestly. The high NAIC complaint ratio suggests that some policyholders experience frustration with response times and administrative processes. Common complaints involve slow processing, communication breakdowns, and difficulty reaching representatives. However, it is worth noting that most complaints are service-related rather than claim denials. Transamerica’s A (Excellent) AM Best rating confirms the company pays its claims reliably.
Transamerica does not appear to offer a dedicated mobile app for Medicare Supplement policyholders. The online portal is the primary digital tool. For seniors who prefer phone-based support, the customer service line is available during standard business hours. Retirees should also review their homeowners coverage alongside Medicare choices — you can compare home insurance rates at Home Insure Guide to make sure your home is properly protected in retirement.
Pros and Cons of Transamerica Medicare Plans
Pros:
- AM Best A (Excellent) financial strength rating ensures reliable claims payment
- Competitive Medigap rates that fall below national averages for Plan G and Plan N
- Up to 10 Medigap plan options available across 45+ states and Washington, D.C.
- Optional dental, vision, and hearing riders not commonly offered by competitors
- Issue-age pricing locks in lower premiums when you enroll early
- 5% EasyPay autopay discount reduces your monthly cost
Cons:
- NAIC complaint ratio nearly four times the national average signals customer service issues
- Not BBB accredited with over 330 complaints closed in three years
- No Medicare Advantage, Part D, or Special Needs Plan options available
- No SilverSneakers, OTC allowance, or transportation benefits included
- Cannot enroll online — must work through a licensed insurance agent
Who Is Transamerica Best For?
This transamerica medigap review finds the company best suited for Medicare beneficiaries who want affordable Medigap coverage from a financially strong carrier. If your top priority is a low monthly premium on Plan G or Plan N, Transamerica deserves serious consideration. The company’s below-average rates and issue-age pricing create real long-term savings. Beneficiaries who enroll at 65 can lock in favorable premiums for years.
Transamerica is also a solid choice for people who want the freedom of Original Medicare. There are no provider networks to worry about. You can see any Medicare-accepting doctor nationwide. For retirees who travel or maintain residences in multiple states, this nationwide portability is a major advantage. The optional dental, vision, and hearing riders add further appeal for those who want supplemental coverage in one place.
However, Transamerica may not be the best fit for everyone. If customer service quality is your top concern, the high complaint ratio is a legitimate red flag. Beneficiaries who want Medicare Advantage with built-in prescription drug coverage, fitness memberships, and wellness extras will need to look elsewhere. In most cases, this transamerica medigap review recommends the company for budget-minded seniors who value financial strength and provider freedom over premium customer service.
Frequently Asked Questions
Is Transamerica a good company for Medicare Supplement insurance?
Transamerica holds an A (Excellent) AM Best rating. This confirms strong financial stability and reliable claims payment. However, its NAIC complaint ratio is above average. As a result, beneficiaries should weigh low premiums against potential customer service frustrations when reading any transamerica medigap review.
What Medigap plans does Transamerica offer?
Transamerica offers up to 10 standardized Medigap plans. These include Plans A, B, C, D, F, G, K, L, M, and N. Plan availability varies by state. For example, California, Maryland, and Ohio may have a more limited selection than other states.
Does Transamerica offer Medicare Advantage or Part D plans?
No. Transamerica focuses exclusively on Medicare Supplement insurance. The company does not sell Medicare Advantage HMO or PPO plans, standalone Part D prescription drug plans, or Special Needs Plans. Typically, beneficiaries who want Medigap coverage pair it with a separate Part D plan from another carrier.
How does Transamerica price its Medicare Supplement plans?
In most states, Transamerica uses issue-age pricing. Your premium is based on your age at enrollment and does not increase due to aging. However, five states — Connecticut, Idaho, Maine, New York, and Washington — use community-rated pricing. In most cases, enrolling during your initial Medigap Open Enrollment Period gives you the best rates regardless of pricing method. This transamerica medigap review recommends comparing quotes from multiple carriers before making a decision.
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Official Sources & Resources
For verified information on Medicare plans, ratings, and enrollment:
- Medicare.gov (Official): medicare.gov
- CMS.gov (Centers for Medicare & Medicaid): cms.gov
- AM Best (Financial Strength Ratings): ambest.com
- NAIC (Complaint Ratios): naic.org
- State Health Insurance Assistance Program (SHIP): shiphelp.org
- Kaiser Family Foundation (KFF): kff.org
Content last reviewed April 2026. If you notice any outdated information, please contact us.