To evaluate the financial strength of a Medicare Supplement company: 1) Check AM Best rating (A or better). 2) Check Moody's, S&P, or Fitch ratings. 3) Review the company's years in business. 4) Check the company's complaint ratio with your state insurance department.
Key Points
- AM Best rating: A or better
- Moody's, S&P, or Fitch ratings: investment grade or better
- Years in business: longer history indicates stability
- Complaint ratio: check with state insurance department
- An independent agent can provide financial strength information for all companies in your area