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What you need to know
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Medico
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Associated Carriers
Products & Plans
Available in: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- N
- A
- F (High)
- G
- F
- G (High)
Available in: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- Dental Gold
- Dental Platinum
Available in: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- Hospital Indemnity
Available in: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
- Essential Care
- Essential Care Plus
Available in: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- First Diagnosis Cancer
- First Diagnosis Cancer with Inflation Protection
- Critical Illness Insurance
About
Medico Insurance Company was founded in 1930 in Omaha, Nebraska, initially as a provider of health insurance. Over the decades, Medico has evolved, becoming a significant player in the supplemental insurance market. In 2018, Medico was acquired by Wellabe, a subsidiary of the larger, publicly traded company, the National Guardian Life Insurance Company (NGL). This acquisition allowed Medico to leverage NGL’s extensive resources and industry expertise, further enhancing its product offerings and distribution capabilities.
Medico has a long-standing tradition of providing quality insurance solutions aimed primarily at seniors and individuals with unique healthcare needs. The company has built its reputation on strong customer service and a commitment to delivering value through its insurance products.
Medico specializes in various insurance products, with a significant focus on: Medicare Supplement Insurance, Hospital Indemnity, Short Term Care, Cancer and Critical Illness.
Medico has consistently maintained a solid financial position, supported by its parent company, NGL. The company’s strategic growth and commitment to prudent underwriting have resulted in strong reserves and financial stability. Medico's financial strength is further reflected in its ratings from industry agencies, demonstrating reliability in meeting policyholder obligations.
As part of its growth strategy, Medico has focused on enhancing its technology infrastructure, improving customer service, and expanding its product offerings to address the changing needs of its policyholders, particularly as the senior demographic continues to grow.
A notable aspect of Medico’s history is its commitment to community involvement. The company has actively participated in initiatives aimed at improving health literacy among seniors and has been involved in programs to support local health organizations. This community focus reflects Medico’s broader mission to not only provide insurance coverage but also to contribute positively to the health and wellbeing of the communities it serves.
Pros
- Established Brand: With over 90 years in the industry, Medico has built a reputation for reliability and quality service, particularly among senior policyholders.
- Comprehensive Product Offerings: The company’s focus on Medicare Supplement, Hospital Indemnity, Short Term Care, and Cancer and Critical Illness insurance allows agents to provide a well-rounded portfolio to clients.
- Strong Parent Company Support: Being part of NGL provides Medico with additional financial stability and access to resources that can enhance its offerings and service capabilities.
Cons
- Limited National Presence: While Medico has a solid reputation, its market presence may not be as widespread as larger competitors, potentially limiting its reach in certain regions.
- Product Complexity: The variety of products can sometimes lead to confusion among policyholders regarding coverage details, necessitating comprehensive agent training and education.
Medico Insurance Company is a long-standing and reputable provider of supplemental insurance solutions, particularly focused on the needs of seniors. With its comprehensive range of products, solid financial position, and commitment to customer service, Medico continues to play a vital role in the insurance industry. However, its relatively limited national presence and the complexity of its product offerings may present challenges for some agents and clients in navigating their choices effectively. As part of the Wellabe family, Medico is well-positioned for continued growth and innovation in the evolving insurance landscape.