Thrivent Financial Medicare Insurance Review & Complaints: Health Insurance

Thrivent Financial Medicare Supplement insurance is offered only to those that meet the company's faith-based membership requirements. Thrivent Medicare Supplemental plans does not include Part D and there is no Thrivent Medicare Advantage plans. Thrivent Medicare rates aren't offered online.

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Eric Stauffer is a former insurance agent and banker turned consumer advocate. His priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Nov 29, 2021

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Thrivent Financial Medicare

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We understand researching insurance can be an arduous task. That’s why we’ve written this Thrivent Financial Medicare Supplement Review.

What is Thrivent Financial Medicare Insurance? It is a Midwest-based financial service provider company that also offers a range of insurance products including life insurance and supplemental health coverage. They operate across the country through faith-based chapters and are ranked on the Fortune 500. Looking for reviews?  Simply read on.

Before you decide to buy, check out your options. Compare insurance in your local area by entering your ZIP code in the free comparison tool above.

What is Thrivent Financial Medicare?

The insurer offers only Medicare supplement insurance, and not Advantage or Part D. There is no list of plan options, so we can’t say whether supplement Plan G or any other plan is available.

Its Medicare supplement eligibility requirements include the regular Medicare requirements as well as the company’s membership rules.

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Are the Medicare rates competitive?

Does the company sell health insurance? Rates are not listed for Thrivent Financial Medicare Supplement insurance on the website, nor is there any online quoting option. This is not surprising given the lack of detailed information about the plans themselves. Again, visitors to the site are directed to call the toll-free number and be put in contact with a representative in order to get rates. So, you will have to speak with a licensed insurance agent to find out what your premium payment could be, along with other details of coverage options that are available.

Is Thrivent a public company? Yes, it is. While it is not unusual for this type of membership-based company not to have online quoting, it is a large company and it would be nice to see some pricing information on its website. It is likely that they prefer to have potential new customers get quotes directly from a representative to verify membership requirements and details.

If you need to make payments, you’ll need to use Thrivent Financial’s EFT provider known as Claim MD. Thrivent Financial’s Medicare Supplement Payer ID is THRIV. It appears that online payments are the standard way that an insured person can pay their premium with this company.

What are the general Medicare rates?

Although Medicare quotes aren’t available online, we can look at general Medicare rates explained by the U.S. Centers for Medicare and Medicaid Services. Here’s a list of rates for Medicare Part A.

Medicare Part A Taxes and Rates Summary
Medicare Taxes and
Rates Summary
Estimated Monthly
Medicare Rates
Estimated Annual
Medicare Rates
Medicare taxes for less than 30 quarters,
standard Part A rate
$458$5,496
Medicare taxes for 30-39 quarters,
standard Part A rates
$252$3,024
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Most people with Medicare don’t pay monthly rates for Part A, which is also called “premium-free Part A.” If you buy Part A, you’ll pay up to $458 per month as of 2020. If you paid Medicare taxes for less than 30 quarters (seven years, six months), the standard Part A rate is $458. If you paid Medicare taxes for 30-39 quarters, the standard Part A premium is $252.

Let’s look at another factor of Medicare Part A you might want to know about.

Medicare Part A Hospital Inpatient Deductible and Coinsurance Rates
Hospital Inpatient Deductible and CoinsuranceEstimated Medicare Part A Deductible and Coinsurance Rates
Days 1-60: Coinsurance
for each benefit period
$0
Days 61-90: Coinsurance
per day of each benefit period
$352
Days 91 and Beyond: Coinsurance per
"lifetime reserve day"*
$704
Deductible
for each benefit period
$1,408
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*After day 90 for each benefit period (up to 60 days over your lifetime)

Medicare Part A is essentially hospital insurance and will cover costs based on the deductible of coinsurance for each benefit period.

Now, let’s look at Medicare Part B deductibles and rates.

Medicare Part B Estimated Monthly Premiums, Deductibles, and Coinsurance Rates
Premium,
Deductible, and
Coinsurance
Estimated Monthly Medicare Part B Rates
Standard Part B
premium
$145
Part B deductible
and coinsurance
$198
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**Pay 20 percent of Medicare after the deductible is met

According to the U.S. Centers for Medicare & Medicaid Services, after your deductible is met, you pay 20 percent of the Medicare-approved amount for most medical care and doctor services including inpatient hospital services, outpatient therapy, and durable medical equipment (DME) services.

Compare insurance rates in your area by entering your ZIP code in the free comparison tool below.

What are formulary health discounts?

When you choose a Part D plan, make sure your prescription drugs are covered. Some drugs are covered by every plan. Each plan develops its own list of covered drugs, called a formulary, which must include more than one drug in each classification.

A formulary is a list of certain kinds of prescription drugs that a Medicare drug plan will cover, subject to limits and conditions.

Members may be able to use their current health insurance policy by using Thrivent’s Health Discounts benefit for services their health insurance won’t cover such as a prescription that’s not on their health plan’s approved formulary drug list or dental procedures that are not covered by Medicare.

What programs does the company offer?

One of the company’s most notable programs is the Thrivent Financial Representative Development Program.

This program targets new rising graduates and young professionals who are looking to enter the business, finance, and sales industries. The company is also a supporter of the American Armed Forces and has made sizable contributions to all branches of the U.S. military.

How do I cancel my Medicare insurance policy?

Maybe you found a cheaper insurance policy, or maybe you’re not going to be driving for a while. Whatever the case may be, you want to cancel your insurance policy. This section will go over the proper methods you can use to do so.

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What happens if you cancel insurance?

When you cancel your insurance policy, you’re saying that you want out of the insurance services from your current insurance company. Canceling your insurance policy may come with a fee. Some fees are as low as $25, but some insurance companies issue fees that are a portion of the policy.

Do I get a refund if I cancel my insurance?

That depends on how much you paid at the beginning of the policy. If you purchased a term life insurance policy, for example, with a return of premium, you can get a refund for the premiums you paid. As the name suggests, your insurance provider will return your premiums to you when the term life insurance is up.

Usually, you’ll receive the sum of the rates you’ve paid each month tax-free. However, the fees or costs of any additional people that were added to the policy may not be refunded.

How do you cancel an insurance policy?

Call, email, or send a certified letter to your insurance company letting them know you want to cancel your insurance policy. There are several steps you may have to take before you cancel entirely.

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Can you cancel an insurance policy at any time?

It’s not ideal, but yes. You can cancel your insurance policy at any time, but it’s best to give your insurance company a 15- to 30-day notice, if possible.

Setting a specific date for cancellation will give you time to shop around and find a new insurance policy, as you do not want a lapse in coverage. If you’re looking for insurance, enter your ZIP code in the free comparison tool below to find rates for coverage in your area.

How can you file a claim?

Like all such companies, Thrivent handles Medicare Supplement claims directly with the providers in most cases. While claims forms for other types of insurance can be found on the website, there are no Medicare Supplement forms available.

The fastest way to file a claim is to contact these services:

Thrivent Financial Contact Number by Type of Claim
Insurance TypeClaims Contact Number
Annuity and Life Insurance920-628-6312
Disability Income Insurance920-628-6315
Long-term Care InsuranceNew Claims: 920-628-3166
Existing Claims: 920-628-6316
Medicare Supplement InsuranceMembers: 920-628-6317
Providers: 855-249-1283
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If you want to provide a claim in writing, be sure to include your policy number, name, address, and the type of claim you’re filing. The Thrivent Financial Medicare Supplement claims address isn’t listed, but this is the corporate or operations offices:

  • Thrivent Corporate Center
    625 Fourth Ave. S.
    Minneapolis, MN 55415-1624
  • Thrivent Operations Center
    4321 N. Ballard Rd.
    Appleton, WI 54919-0001

You may have to send written information as a certified letter so it can get to Thrivent Financial Medicare services faster.

Contact your provider phone number with questions.

What type of insurance products are offered?

The company sells only Medicare Supplement and does not offer Part D or Medicare Advantage plans. Thrivent Medicare supplement is often confused with Trident Medicare supplement.

Trident Medicare Supplement comes from a company called Trident Family and Health and has no affiliation with Thrivent Financial.

There is mainly general information about Medicare Supplement insurance on the Thrivent website, and no specifics regarding which plans the Medicare company offers or how these rank against the best Medicare companies. Visitors to the site are directed to call a toll-free number in order to be connected with a local representative.

Since Medicare Supplement plans are standardized, the coverage offered is the same across companies. All states with the exception of Massachusetts, Wisconsin, and Minnesota use a set of letter-coded standard plans; these three have their own standard plan system.

The question, therefore, would be not what is covered by Thrivent’s plans, but which plans they actually offer. Unfortunately, the website does not say.

All companies offering Medicare Supplement in letter-coded states are required to offer at least Plan A, and must additionally offer either Plan C or Plan F.

Plan A is the basic supplement plan, while F is the most comprehensive. The best insurance companies offer at least a few options in addition to these requirements.

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Does the company have a Supplement Plan G?

Here’s a look at what Thrivent Financial offers under Thrivent Financial’s Medicare Supplement Plan G and other plans.

Medicare Supplement Insurance Plans Offered by Thrivent
Medicare Benefit NamePlan APlan BPlan CPlan DPlan FPlan GPlan LPlan M
Basic BenefitsXXXXXXXX
Medicare Part A: Skilled
nursing facility coinsurance
XXXX75%X
Medicare Part A: Inpatient
hospital deductible
XXXXX75%50%
Medicare Part B: DeductibleXX
Medicare Part B: Excess chargesXX
Foreign travel emergency medical careXXXXX
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Thrivent financial medicare supplement Plan G supports Medicare Part A, some of Medicare Part B, and coverage for any incidents occurring out of the country.

What’s the history of Thrivent Financial?

The company traces its roots back to a pair of Lutheran organizations. The first is the Aid Association for Lutherans, created in Appleton, Wisconsin in 1902. The second is the Lutheran Brotherhood, a fraternal society that started in Minnesota in 1918 as the Luther Union. The two provided assistance only to Lutherans and eventually merged to form Thrivent Financial for Lutherans in 2002.

It expanded its membership requirements to include Christians of all denominations in 2013, and they dropped the Lutheran part of the company name. The Thrivent Financial headquarters is located in Minneapolis, and they have a secondary headquarters located in Appleton.

Thrivent is known for its philanthropic efforts, including work with Habitat for Humanity and disaster relief around the world. They ranked at number 343 on the Fortune 500 in 2018.

The products are only open to members of the organization. In order to become a member, the applicant must be a Christian, married to a Christian, or be a child being raised in the Christian faith. Membership is available at two levels: Benefit and Associate.

Non-Christians are not accepted for membership and thus not eligible for products.

An Associate Member pays a monthly fee for membership and no purchase of a product is required. The purchase of a Thrivent product or joining the credit union are other methods of gaining Benefit membership without the fee requirement.

The company operates on a chapter-based system, with local chapters available across the country. Financial representatives, many of whom are part of local church communities, sell their products locally. Among those products are financial services, life insurance, and Medicare Supplement insurance.

Are the ratings & consumer reviews positive?

Thrivent has an A+ rating with the Better Business Bureau (BBB), and there are a total of 10 customer complaints on file for the past three years. The organization has been BBB accredited since 1999. Here’s a compilation of ratings for Thrivent Financial Medicare:

Thrivent Financial Medicare Ratings by Agency
Ratings AgencyThrivent Financial's Ratings
A.M. BestA++
Fitch'sAA+
Comdex Ranking99 out of 100
Better Business BureauA+
NAIC Complaint Index0.06
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The NAIC Complaint Index shows the ratio of complaints compared to average. The 0.06 means it had considerably fewer complaints than the average insurance company.

There are 12 reviews of the company on Yelp, with an overall one-star rating. The complaints cite poor customer service, unscrupulous marketing practices, and failure to pay claims.

While the complaints here are quite detailed, the volume of them is low for a large company like Thrivent. Still, it’s worth noting that the reviewers felt the company was not living up to its faith-based promise.

Overall, there are really very few reviews of the company out there, but from what we can see, it appears that it has a pretty solid reputation.

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What’s the bottom line?

Thrivent Medicare Supplement is often confused with Trident Medicare Supplement. These are two different companies with different policies and practices.

The insurer is a good choice for anyone interested in a Christian faith-based membership society. While we were unable to obtain details on their Medicare products or prices, the company is solid financially and does not have many customer complaints online. Those in search of a secular company without membership requirements should look elsewhere for Medicare coverage.

Even if you have found affordable Medicare coverage, you should compare your options. Once you enter your ZIP code in the free comparison tool, click “Get Quotes” to get started.

For the final section of this review, we wanted to explore commonly asked questions about the company and Medicare that you may still have after reading the article.

#1 – Is Thrivent Financial FDIC insured?

No. Thrivent Financial says they are not insured by the FDIC.

#2 – How do I surrender Thrivent Life Insurance?

Follow the same steps you would when you want to cancel your insurance. Call the company and tell them that you would like to cash in or cancel your life insurance.

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#3 – What does Thrivent Financial do?

Besides life insurance and Medicare insurance, Thrivent Financial offers services such as mutual funds, disability income insurance, credit union products, money management, brokerage services, and retirement planning.

#4 – How much do Thrivent Financial reps make?

According to Indeed, Financial Representatives at Thrivent Financial earn $61,847 per year.

#5 – Is Thrivent only for Lutherans?

No. Thrivent Financial opened its business up to Christians of all denominations in 2013.

#6 – How many employees does Thrivent Financial have?

Thrivent Financial has 3,708 employees, according to Owler. Thrivent Financial has agents in Austin (TX), Omaha (NE), San Antonio (TX), Lexington (KY), and Rochester (MN).

#7 – Is Thrivent legit?

Thrivent Financial has been accredited by the Better Business Bureau since 1999, and the company has an “A++” score from A.M. Best, one of the top financial strength rating agencies in the world.

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