Thrivent Medicare Supplement Review

Thrivent Medicare Supplement Review

Pros and Cons :

  • Thrivent has a long history of Christian and conservative values that aligns with its consumer base.
  • The company is strong financially and benefits from loyal support from its policyholders.

  • Thrivent has discontinued its Medicare supplement offerings.
  • Existing policyholders should reach out to an independent broker like us to discuss how their rate and customer service will be negatively affected by the company’s decision.

Overall Rating: 2.25/5
Rating Stability: 3/5
Financial Stability: 4/5
Coverage Area: 1/5
Competitive Rates: 1/5

Our Take

Thrivent Financial is a highly reputable carrier in the sense of its Christian values. However, they discontinued their Medicare supplement offerings. We now recommend American Home Life Insurance for those that want an alternative company with similar values.

Thrivent Financial is one of the only A++ rated carriers offering Medicare Supplement products. In this review, we will detail the company and the specific Medicare Supplement Insurance option. However, effective December 31, 2020, they decided not to offer Medicare Supplement plans any longer.

Thrivent Financial Background

The merger of the Aid Association for Lutherans (AAL) and the Lutheran Brotherhood (LB) led to the official formation of Thrivent Financial in 2002. Both organizations, which were established in 1902 and 1917, respectively, brought members together under the common bond of Lutheranism. Ultimately, this merger led to the formation of the largest fraternal benefit venture in the US at the time. In 2017, the company was a Fortune 500 organization providing financial services with its headquarters in Minneapolis. The company that previously served only Lutherans has grown beyond its roots and has opened its services and membership to all Christians. In 2013, the members showed support for its expansion characterized by a redefinition of its common bond as a not-for-profit institution.

Currently, Thrivent’s CEO is Teresa Rasmussen. With over 3,000 employees with over 2,000 financial representatives, the company is able to sell annuities, insurance, and other financial services to more than 2.5 million members.

Thrivent’s commitment to excellence in serving their customers forces them to a high standards with their own financial well-being.


Thrivent Rating Information

In May 2017, the company was ranked by A.M Best and Fitch as having superior and very strong financial ratings of A++. Forbes consistently gives Thrivent high marks. Before choosing to provide its services to members of other Christian faiths, Thrivent faced backlash amid deteriorating loyalty to denominations. The move to provide its financial services to members of other Christian faiths was motivated by the declining number of Lutherans and the lack of loyalty to denominations in the modern day. Thrivent Financial for Lutherans is the official legal name, but they advertise using Thrivent Financial in order to be inclusive of all customers. The mission of the company is to help Christians to be wise with their finances and to live generously.


Thrivent Financial Review of Benefits

Thrivent is different from other financial service providers simply because the company sees money not as a goal but as a useful tool used in serving the family, the community, and God. Also, it has a unique kind of membership, and its operation is characterized by the provision of financial services to its members. This is in a bid to help the members of the public to be more socially, morally, and religiously empowered. As a fraternal benefit society, the organization seeks to not only sell insurance policies but to help its members make wise money-related decisions.

The uniqueness of the company is evident in the commitment of its members to each other because the members are the owners of the entity.

Through its commitment to members, it aids in nurturing relationships and giving mutual respect to each other.

To employees, the company is unique because they take part in fulfilling the company’s mission of helping members to live more confident and generous lives. The top management has won awards as a result of their role in enhancing ethical standards of doing business and introducing creative ideas that benefit not only the members but even other members of the public.

Thrivent believes less uncertainty is much better for its members, and this motivates the company to keep its premiums stable for members to manage the payments throughout the contract period. The company charges fair and reasonably adequate premiums at the inception of the insurance contract. Besides, the company strives to regulate renewal rates that take place during the course of the insurance contract.

Their focus on members has not gone unnoticed.


Magazine them among a recent list of companies with superior customer service. The article was based on a study by the authoritative American Customer Satisfaction Index (ACSI).  Thrivent was named one of the most ethical companies.

ASCI commented:

“A not-for-profit life insurer with a reputation for corporate social responsibility that appears to extend to its customers.”


Set Appointment

This appointment is meant to alleviate any concerns and there is no-cost or obligation to make a change.


Thrivent Medicare Supplement Insurance Plans

For over ten years, Thrivent’s yearly rate increase for plans A, D, and F has been an average of 5.46%, 5.73%, and 4.60%, respectively. Thrivent offered eight Medicare supplement plans ranging from plans A, B, C, D, F, G, and L to M. Federal law requires all plans to be standardized and this implies that the basic benefits that a member receives are consistent from company to company.


Medicare Nurse


Thrivent Medicare Supplement Plan F

This plan is believed to offer the most comprehensive Medicare Supplement Insurance coverage of all the available supplement plans in most states. Even though it has been discontinued w.e.f. Jan 2020 for newly eligible Medicare recipients and is only offered now to those grandfathered in; it stands tall and proud among the lot.

It is popular among beneficiaries because of its all-inclusive coverage and its broad assistance with out-of-pocket related expenses. The extensive nature of this plan implies that its premium may be more expensive.

At Thrivent, this plan offers a highly deductible option and provides basic benefits, skilled nursing facility coinsurance, and an inpatient hospital deductible. Also, it caters to excess charges and foreign travel emergency care. For an applicant to enroll for Thrivent Medicare Supplement plan F, the company has a given set of guidelines in the underwriting process that must be accepted by new applicants. As much as the plan is popular, its availability varies from location to location.

Thrivent Medicare Supplement Plan G

This plan provides nearly the same level of coverage as Plan F. The only difference between plans G and F is that in Plan G, the insured person pays the yearly deductible of Medicare Part B before the coverage actually kicks in. Other than plan F, it is the only other plan that covers 100% of part B excess charges. At Thrivent, the plan provides basic benefits, skilled nursing facility coinsurance, inpatient hospital deductible, excess charges, and foreign travel emergency medical care. Even though the benefits of the plan are standardized and are the same from insurer to insurer, states are not allowed to offer this plan, and different providers may charge different premiums for virtually the same benefits.

Thrivent Medicare Supplement Plan N

This is a standardized plan implying that it has the same benefits across all providers. It also covers 100% of part B coinsurance expenses only that it requires a copayment fee for office visits and emergency room visits. Thrivent does not offer this medical supplement plan.

Every supplement plan has limitations, exclusions, and different terms under which the contracts may be discontinued. At Thrivent, it is difficult for you to be approved for the supplement plans it offers under certain circumstances. For example, when you have been hospitalized more than three times in the previous two years when you are on treatment for drug abuse when you are suffering from conditions that require psychiatric care.


Medicare Nationwide’s Opinion?

There are very few companies that can match their A++ rating. Unfortunately, they stopped offering new Medicare supplement plans to newly eligible Medicare recipients. If you would like to receive quotes on other Christian-based Medicare supplement plans, we would be happy to provide you with information on carriers in your area. We now recommend American Home Life as a company that shares the same values.

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