Discovering Lumos Insurance: A Trusted Medicare Supplement Option
Updated: Aug 7
At our agency, we're always looking for insurance carriers that bring value, stability, and competitive underwriting options to our Medicare clients. That's why we're excited to announce that as of July 13, we now offer Medicare Supplement plans from Lumos Insurance—a carrier with a long history and a fresh new identity.
While the Lumos name may be new to many consumers, the company behind it has been serving insurance customers for decades.
A New Name Built on a Strong Foundation
Lumos Insurance is the new brand name for The Plateau Group, an insurance company founded in 1981 and headquartered in Crossville, Tennessee. According to the company, the rebrand reflects years of modernization and investment in its operations while maintaining the same financial strength and commitment to policyholders. lumosinsurance.com
Over the years, the organization has grown from its roots in credit life, health, and property insurance into a nationwide insurance carrier serving a variety of markets, including senior-focused life and health products.
Financial Strength Matters
When choosing a Medicare Supplement company, financial stability should always be part of the conversation. Lumos maintains an A- (Excellent) rating from AM Best, one of the insurance industry's leading independent rating agencies. This rating is a testament to their reliability and commitment to policyholders.
Medicare Supplement Plans Available
Lumos currently offers several of the most popular Medicare Supplement plan options:
Plan A
Plan F*
Plan G
Plan N
High Deductible Plan G
Plan F is only available to Medicare beneficiaries who were eligible for Medicare before January 1, 2020.
These plan choices give consumers flexibility to select coverage that aligns with both their healthcare needs and budget.
Household Discount
One feature that stands out is Lumos' 7% household discount. In most states*, you may qualify if you are:
Married, or
Living with another adult who is at least age 50 and has lived with you for the previous 12 months.
For many Medicare beneficiaries, this discount can help lower monthly premiums while maintaining the same level of coverage.
Some states require a two-policy enrollment to qualify.
Competitive Underwriting Advantages
For clients applying outside of their guaranteed issue rights, underwriting can make all the difference. Lumos has introduced a tech-driven process that may be attractive for certain applicants, including those who dread answering health questions or are pressed for time:
Fully Automated Underwriting: No answering health questions or Rx Information
Real-time decisions, typically within minutes
No pre-underwriting necessary. Underwriting will reach out if they need additional information from the applicant
As always, underwriting approval is based on the carrier's review of an individual's health history and application details. However, this carrier introducing automated background underwriting is a game changer for convenience and time sake for both agents and clients.
Why We're Excited About Lumos
New carriers don't enter the Medicare Supplement market every day, especially those backed by more than four decades of insurance experience with strong re-insurance. While Lumos brings a new name and brand to the marketplace, it's supported by a company that has been operating since 1981 and continues to maintain strong financial ratings.
For Medicare beneficiaries shopping their coverage, Lumos offers a combination of:
Financial strength
Competitive discounts
Multiple plan choices
Consumer-friendly underwriting features
A longstanding insurance heritage under the former Plateau name
Navigating Medicare Supplement Plans
Understanding Medicare Supplement plans can be overwhelming. It's essential to grasp the differences between the various plans and how they align with your healthcare needs. Each plan offers unique benefits, and knowing these can help you make an informed choice.
The Importance of Coverage
Choosing the right coverage is crucial. Medicare alone does not cover all healthcare costs. Supplement plans can help fill those gaps, ensuring you are not left with unexpected expenses.
Evaluating Your Needs
Before selecting a plan, evaluate your healthcare needs. Consider factors like:
Your current health status
Frequency of doctor visits
Prescription medications
Budget constraints
This evaluation will guide you in choosing a plan that provides the necessary coverage without breaking the bank.
Final Thoughts
If you're currently comparing Medicare Supplement plans or wondering whether a switch could make sense for your situation, Lumos Insurance is certainly worth a closer look, especially as carriers' rates change every year. Every person's healthcare needs and budget are different, and the right Medicare Supplement plan depends on your individual circumstances.
As an independent agency, we're pleased to offer Lumos alongside other leading Medicare Supplement carriers. We help our clients compare options and find the coverage that best fits their needs.
Please give us a call if you have any questions about the carrier or are interested in a free quote consultation or underwriting overview!
Lumos Insurance stands out as a reliable choice in the Medicare Supplement market. With their strong foundation, competitive offerings, and commitment to policyholders, they are poised to be a valuable partner in your healthcare journey.
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