The top dogs of the Texas medicare supplement market are competing for your money. Two competitive carriers have entered the scene and are rising to the top in most Texas zip codes. Cigna, insured by American Retirement Life Insurance Company, and Manhattan Life have caught the attention of Texas agents and consumers of late. With low premiums and fast processing, it’s no wonder these two operators are managing to attract huge amounts of new business and awareness so quickly.

American Retirement Life Insurance Company, a subsidiary of Cigna, began selling Medicare Supplements in Texas in early February 2013. Last year, ARLIC offered highly competitive rates, dramatically improving the landscape for Medicare Supplements in Texas. Before the Cigna brand, only three companies could offer the lowest premiums: Omaha Insurance, Oxford Life and Continental Life (Aetna). Each of these carriers have their own zip codes that they pursue competitively. Your chances of getting more than 1-2 “good” rates in each ZIP code were low a year ago. You have Omaha, Oxford, or Continental, along with one of the less competitive brands. It was skinny pickins.

Now that Cigna has been added to the mix, consumers find better rates as well as more options for selecting a quality provider.

Cigna also offers a quick and easy application process, just like Manhattan Life. Through an electronic application, agents can effortlessly submit new business and save their clients money. New business is generally issued between 3 days and 2 weeks (feature 3-5 day policy issues). Of course, this also depends on the time of year you apply – open enrollment months are inevitably busier.

Due to its cheap rates, Cigna has experienced a boom in demand. They are quickly hiring more staff to keep up with the demand for their product. This growth in your company within the first year of activity is extraordinary and can only mean success. If you are a consumer concerned about the financial prospects of this company, this should reassure you that ARLIC’s low rates and the Cigna brand are here to stay.

Located in Austin, Texas, ARLIC’s rates are highly competitive for residents of Travis County and surrounding areas. There are also some other “hot” areas, such as zip codes in and around North Texas. If you are a Medicare Supplement policy holder and live in one of these areas, it may be time to call an agent and have them review your current policy.

ARLIC offers Plans A, F, G, and N, which are also available in 18 other states. You can check availability on the ARLIC website.

A more recent addition to the Texas Medicare Supplement market is Manhattan Life. A few months ago, Manhattan Life did not sell in Texas. I was completely unaware of this company, to be honest. Then slowly I started to see his name pop up in my quoting engine, and now when I look up Texas zip codes, Manhattan Life is definitely in the top 5 in most areas, even the top 2 in some. I suspect this will change (for the better) as they get older next year.

Like Cigna, Manhattan Life is a reputable and financially strong company, part of a larger family; Central United Life, Western United Life and Family Life are close relatives and trusted brands in the industry.

Along with Texas, Manhattan Life offers Medigap plans in AZ, GA, IL, IN, MI, MS, NC, NE, PA, SC, TN, TX, and VA. Plans available to purchase include A, B, C, D, F, G, M, and N, which offer more breadth than ARLIC (although not all are offered in every state).

Both Cigna and Manhattan Life are leaders in many areas of Texas. While Cigna is still the number one of the two, I suspect Manhattan Life will target more niche niches if it hasn’t already. I also expect both companies to evolve in the coming years, whether that means stabilizing their rates and focusing on specific areas or perhaps, in the case of Manhattan Life, knocking Cigna out of the top spot; only time will tell.

Some consumers have raised concerns about buying a policy from a new company and then having the company do a “bait and switch” by raising rates and leaving their customers stuck with large premiums. While I won’t guarantee anything, I don’t think it’s a smart technique for either company. Remember, even though their rates are low, they are still competing with powerhouses that have been selling in Texas for years. It will take 5-10 years for them to build a solid reputation in the midst of such dominant competition.

Fortunately for consumers, the emergence of these new products is only pushing rates to be more competitive. If you’ve never considered getting your policy reviewed, now is the perfect time to call an agent, as carriers are fighting for your business more than ever.