Lumico Medicare Supplement Insurance

History

Despite being a newer Medicare supplement provider, Lumico has over 150 years of insurance experience. As a member of The Swiss Reinsurance Company, Lumico has continued to provide many different types of life insurance, including term, whole, and final expense.

Today, by using select companies, Lumico appoints trusted partners to sell their insurance options, including Lumico Medicare supplement plans.

Now, with coverage in over 15 states and growing, the company continues its journey to expand to new territory and provide a fresh alternative to your Medicare supplement choices.

Contact Info

The mailing address for Lumico’s health insurance headquarters is listed at PO Box 10875, Clearwater, FL 33757-8875.

If you are trying to call Lumico, their customer service line is at (855) 774-4491.Your available hours for the number are Monday through Friday, 8AM to 4PM Central Standard Time (CST.) For fax, use the Lumico fax number at (816) 701-2549.

When online, check out the Lumico website at www.lumico.com or feel free to send an email with your questions to customerservice@lumico.com

What Makes the Company Special?

As a new face, Lumico Medicare supplement plans have taken many by surprise with easy enrollments and affordable prices. In fact, Lumico themselves says that more than 75% of their members felt that doing business with them ended up better than expected.

But, if we’re talking about what makes Lumico Life Medicare supplements special, let’s think about what’s most important to Lumico. 

After all, if it’s important to them, it’ll be important to you too.

Lumico wants to be a leader in the Medicare supplement business for:

  • Using the simplest language possible. 
  • Having one of the easiest application processes.
  • Educating members before a decision is made.

By creating such a clear path to enrollment, Lumico can continue to keep you involved in every part of your plan and more.

Other Products

Outside of their Lumico Life Medicare supplement plans, Lumico sells a few different types of life insurance, including:

  • Term Life Insurance
  • Whole Life Insurance
  • Final Expense Insurance

List of States They Sell In

If you’d like to enroll into a Lumico plan, you must live in a state where it is offered. As of 2019, Lumico has competitive plans across more than 15 states, but more are soon to follow. 

As listed, the states that carry Lumico are:

  • Arizona
  • Arkansas
  • Georgia
  • Illinois
  • Indiana
  • Kentucky
  • Louisiana
  • Michigan
  • Mississippi
  • North Carolina
  • Nebraska
  • Ohio
  • South Carolina
  • Tennessee
  • Texas

Plans They Sell

Because of the focus on certain plan types, your choice of Lumico Medicare Supplement plan will be between four available options:

  • Medigap Plan A
  • Medigap Plan F
  • Medigap Plan G
  • Medigap Plan N

And, while all carriers must provide at least plan A, plans F, G, and N are greatly popular for their costs and coverage. Remember though – plan availability changes by state, so not every option will be available in every state.

Ratings and Review

Today, the reputation of Lumico is generally positive. 

For example, A.M. Best rated the business an “A,” which assures that the company is, and should stay, financially secure.

For you, that means they’ll be reliable about continuing to pay your claims.

The company has also been rated a “B” by the Better Business Bureau, but remains non-BBB accredited. However, of the member ratings given on the BBB website, 2 of 6 total are both one- and five-star. From this, we see Lumico providing an average balance of customer interaction, with representation of both good and bad reviews.

Complaints

Lumico, like many other insurance providers, has some complaints that require more context to understand. 

To really know what drives a complaint, you need to know where and why that complaint began. So, what are some recent complaints of Lumico?

If we look over two recent negative experiences on the BBB website, we see some common themes:

  • Both clients wanted to speak with a supervisor about their problem and felt they could not.
  • Both clients felt it was “intentionally” hard to cancel.
  • Both clients ultimately had difficulty from the delays in faxing and writing letters.

In each example, the client has chosen to enroll, but now regrets it and is quickly trying to rectify their “error.”

But, when you’re first interested, your opportunity to survey all information is at the front of your mind. By staying alert and aware, you can make those first few times speaking to an enrollment professional the last ones you’ll need to stay satisfied.

Resources

https://www.planmedigap.com/medicare-insurance/lumico-life-insurance/
https://www.bbb.org/us/ne/lincoln/profile/insurance/lumico-life-insurance-0714-300174777
https://www.bbb.org/us/ne/lincoln/profile/insurance/lumico-life-insurance-0714-300174777/customer-reviews
https://www.bbb.org/us/ne/lincoln/profile/insurance/lumico-life-insurance-0714-300174777/complaints
https://www.lumico.com/faq
https://www.newhorizonsmktg.com/companies-med-supps/lumico
https://goldencareagent.com/wp-content/uploads/2018/07/AZ__LUMICO_Medicare_Supplement_BROCHURE.pdf
https://goldencareagent.com/docs/Lumico-State-Availability-Map.pdf