Thrivent Financial Medicare Review

Thrivent Financial Medicare
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As a faith-based, nonprofit financial company founded in the Midwest, Thrivent Financial offers a range of financial services as well as a few options for supplemental health insurance coverage. In addition to holding a place on the Fortune 500 list, Thrivent is known for philanthropic efforts both nationally and worldwide.

Not looking for Medicare information? Click here for our general review of Thrivent Financial.

About Thrivent

Although Thrivent Financial was officially founded in 2002, the company’s roots go back over 100 years, with the merging of two Lutheran organizations. The Aid Association for Lutherans was chartered in Appleton, Wisconsin in 1902, and the Lutheran Brotherhood was founded as Minnesota-based society, Luther Union, in 1918. Both were societies dedicated to helping Lutheran members, and were not open to people of other religious denominations. Eventually, the two came together and created Thrivent Financial for Lutherans in 2002.

In 2013, Thrivent removed the Lutheran portion of the company name following a decision to open membership to other Christian denominations. Now based out of Minneapolis, with another head office still located in Appleton, Thrivent ranks at number 318 on the Fortune 500.

Thrivent is a membership organization and products are only available to those who become members; their website states that membership is open to Christians, spouses of Christians, and children being raised in the Christian faith. The company offers two levels of membership, Benefit Member and Associate Member; Associate members can pay a monthly fee to gain membership without having purchased a Thrivent product. Membership can also be gained by purchasing products or joining the credit union. In all cases, a membership application is required.

Thrivent is engaged in philanthropic work including a partnership with Habitat for Humanity. They are also involved with disaster relief efforts, both domestically and overseas. Furthermore, they are well known for the individual efforts of their employees and members in charity work worldwide.

As a chapter organization Thrivent has expanded to open chapters across the country, making their financial and insurance products widely available. Products are sold through local financial representatives.

Thrivent Medicare Supplement Insurance

Thrivent offers Medicare Supplement policies to its members; currently, this is the only Medicare coverage the company provides. There are no Medicare Advantage or Part D Prescription Drug coverage plans.

The Thrivent website offers very limited information on which of the lettered Medicare Supplement plans they write. As with all Medicare Supplement providers, they are required to write the basic Plan A in most states. Beyond this, there is no list providing details on which other plans are offered. Rather than providing an overview of the plans, site visitors are directed to contact a local representative to find out which plans are available in their area.

Thrivent requires that you provide contact information in order to proceed with the process of obtaining information and rates; this will result in solicitation calls or messages, which may not appeal to some insurance customers.

Thrivent Rates

Since there is no information about the plans offered, it’s not surprising that we were also not able to obtain rates. As Thrivent is a member-based organization, it is possible that online quoting is available to those who are already members and have logged into the customer portal.

We were unable to locate any method by which non-members could obtain an online quote. Thrivent requires that you provide contact information or contact a representative yourself to obtain pricing on products. While the organization of Thrivent as a membership system somewhat explains the lack of online quoting, it’s something we like to see available from major companies like Thrivent.

Ratings and Reviews

Two Better Business Bureau (BBB) files exist for Thrivent, one in Minneapolis and one in Appleton, WI. Both give the company an A+ rating. The listing for Minneapolis shows no complaints in the past three years. There are a few complaints on the Appleton listing, 11 in the past three years and four closed in the past 12 months. For a company with well over 2 million members, this is a very small number of complaints with the BBB.

Yelp also shows a few negative reviews for Thrivent – a total of six. Again, this number of complaints is very low for a company this large. We didn’t locate any reviews that pertained directly to Medicare Supplement coverage.

In general, there is little in the way of complaints for Thrivent; it should be noted, however, that as a chapter organization with products sold through reps, it is possible complaints are filed on a more local level. However, with so few complaints overall, Thrivent comes off as a fairly reputable company.

The Bottom Line

If you prefer a religious-based organization and are interested in becoming a member of such a group, Thrivent is worth a look. As there is very little information provided for their Medicare Supplement plans, it’s difficult to provide any real recommendation in terms of plan offerings and price. Thrivent is likely to appeal to consumers who prefer a personal approach to purchasing insurance and value the faith-based nature of the organization.

For a list of companies that we recommend, visit our Best Insurance Companies page.

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