Medicare Supplement Quotes

American Republic Corp Insurance Company

Written by Evens Stevenson

Today, health care costs can be the largest expense for retirees – as well as those who are approaching their retirement years. If you’re age 65 you may have Medicare as your primary health care coverage provider.

Original Medicare provides a long list of coverages, such as inpatient hospitalization, doctors’ visits, and other medical related services. However, even so, this program is also fraught with potential significant out-of-pocket costs. These expenses can come in the form of deductibles, copayments, and coinsurance. In some cases, these cost responsibilities could even make getting necessary health care can be expensive.

Thankfully, you can protect yourself from these expenses. There are a couple of ways you can do this, but we suggest buying a Medigap plan (traditionally called a Medicare Supplemental plan).

american republicJust like with any other kind of insurance policy, there are plenty of options. When you’re looking around for supplemental protection, there are 10 choices.

Each plan, named by a letter of the alphabet, has a varying degree of protection. The least is Plan A and the most is Plan F. Regardless of the company you purchase the plan from, this will always be true. This is because the plans are regulated by the government, just like they regulate traditional Medicare.

The coverage is going to be the same regardless of the company, but the price won’t be. To help you find the perfect company with a solid reputation and great price, we’ve detailed some of the popular companies out there.

The History of American Republic Corp Insurance Company

American Republic Insurance Company was founded in 1929, by Watson Powell. Mr. Powell was a pioneer in the accident and health insurance business. The primary mission of American Republic has always been to offer personal insurance coverage to individuals and families at the lowest possible price.

Throughout the years – and even through the Great Depression – American Republic Insurance Company grew – and, by 1945, the company had expanded out of its home state of Iowa. By 1989, American Republic reached $1 billion in benefits paid.

American Republic Corp Insurance Company is a wholly owned subsidiary of American Republic Insurance Company. It is the American Republic Corp Insurance Company that is responsible for the offering and servicing of Medicare Supplement insurance coverage.

Both American Republic Insurance Company and American Republic Corp Insurance Company are member companies of American Enterprise Group, Inc. Currently, American Republic is licensed to do business in 49 U.S. states, New York is the only exception. They also can sell plans in the District of Columbia.

American Republic Corp Insurance Company Review

American Republic Insurance Company has a strong balance sheet, with more than $26 million in total assets. These assets are invested safely and conservatively so that the company can make good on its policy claims.

The company is also very active in the community and is well known as a good corporate citizen. In doing so, it encourages its employees to become involved in recognized programs that support youth development, community betterment, and human services. Lending support to such programs, American Republic has the mission, “To enhance the well-being and financial security of the people we serve.”

American Republic prides itself on its stellar customer service. Customer services representatives are available for customers and potential customers via several different modes of communication, including phone, mail, fax, and email. American Republic Insurance Company is headquartered in Des Moines, Iowa. The company also has a claims submission entity that is located in Eagan, Minnesota.

Third-Party Ratings for American Republic Corp Insurance Co.

American Republic has shown a history of being financially stable, and they have always paid claims quickly. This is one of the reasons A.M. Best has given them an A- rating, which is one of the best.

From the BBB, they have received an A+, which just like in school, is the best possible rate. The BBB takes a lot of various factors to determine the rating, but it shows a reliable company with positive financial signs.

 

Medicare Supplement Insurance Plans Offered by American Republic Corp Insurance Co.

American Republic Corp Insurance Company offers a wide range of Medicare Supplement insurance plans to choose from. Because of this, policyholders can decide which of the benefit packages will work the best for them, and for their specific healthcare needs.

The company offers the following Medicare Supplement insurance plans:

  • Plan A
  • Plan B
  • Plan F
  • High Deductible Plan F
  • Plan K
  • Plan L
  • Extended Basic Plan (in Minnesota)

For some applicants, they want to to get the cheapest additional protection possible, and that’s Plan A.

Plan A of Medicare Supplement provides the following coverage:

  • Medicare Part A hospital copayment for days 61 through 150, as well as an additional 365 lifetime days once the enrollee’s lifetime reserve day’s end.
  • The first three pints of blood needed each year
  • Part A hospice copayment and coinsurance
  • Medicare Part B copayment

Medicare Supplement Plan B provides the same set of benefits stated above for Plan A, in addition to coverage for Medicare Part A’s deductible.

With Medicare Supplement Plan K, coverage includes:

  • Part A coinsurance and hospital costs – up to an additional 365 days after Medicare benefits have been used up
  • Part B coinsurance or copayment (covered at 50%)
  • The first three pints of blood that may be needed each year (covered at 50%)
  • Part A hospice coinsurance or copayment (covered at 50%)
  • Skilled nursing facility care coinsurance (covered at 50%)
  • Medicare Part A deductible (covered at 50%)

Medicare Supplement Insurance Plan K also has an out of pocket annual limit of $5,120 (in 2017).

Plan L of Medicare Supplement insurance works similarly to Plan K in that it offers the following set of benefit options:

  • Part A coinsurance and hospital costs – up to an additional 365 days after Medicare benefits have been used up
  • Part B coinsurance or copayment (covered at 75%)
  • The first three pints of blood that may be needed each year (covered at 75%)
  • Part A hospice coinsurance or copayment (covered at 75%)
  • Skilled nursing facility care coinsurance (covered at 75%)
  • Medicare Part A deductible (covered at 75%)

Medicare Supplement Insurance Plan K also has an out of pocket annual limit of $2,560 (in 2017).

For more comprehensive Medicare Supplement coverage, there is Plan F:

  • Medicare Part A hospital copayment for days 61 through 150, as well as an additional 365 lifetime days once the enrollee’s lifetime reserve days end.
  • The first three pints of blood needed each year
  • Part A hospice copayment and coinsurance
  • Medicare Part B copayment
  • Medicare Part A deductible
  • Skilled nursing facility copayment (Days 21 through 100)
  • Medicare Part A deductible
  • Medicare Part B deductible
  • Medicare Part B excess charges
  • Foreign Travel Emergency coverage

If an individual would like to obtain the benefits offered via Medicare Supplement Plan F, but would also like to keep their Medigap coverage more affordable, there is a high deductible Medicare Supplement insurance plan available.

With the high deductible Plan F, the same set of benefits are offered; however, the insured would need to pay an annual deductible of $2,200 (in 2017) before the benefits from the plan would begin to pay out.

For those who live in Minnesota (as well as in Massachusetts and Wisconsin), the standardized Medicare Supplement insurance plans are constructed differently. For example, in Minnesota, qualified residents have guaranteed issue rights to buy a Medigap insurance policy. The basic benefits here include the following:

  • Inpatient hospital care, which covers the Medicare Part A coinsurance
  • Medical costs – which cover the Medicare Part B coinsurance amount (this is typically 20 percent of the Medicare-approved amount for services and medical equipment)
  • The first three pints of blood that may be needed each year
  • Medicare Part A hospice and respite care cost sharing
  • Medicare Part A and Part B home health care services and supplies cost sharing

American Republic Corp Insurance Company offers the basic Medicare Supplement insurance plan in the state of Minnesota.

Other Products Offered Through American Republic Corp Insurance Company

American Republic Insurance Company offers a wide array of other coverage products and services, including the following:

  • Short-term Convalescent Care – The CareAssist Short-term Convalescent care product offered via American Republic offers an affordable way to help protect policyholders from the high – and ever increasing – costs of short-term nursing care. The policies that are offered allow coverage for care that is received either in a facility or at home – and, individuals can choose the number of days that they want to be covered.
  • ExpressPay Life Insurance Coverage – this is the whole life insurance sold by American Republic. These policies will also build up a tax-deferred cash value. The benefits of these plans will not decrease. Likewise, once they are locked in, the premium rates for this coverage will never increase.

Get the Best Premium on Medicare Supplement Insurance Plans

Who wants to pay more for insurance than they have to? Nobody.

There are a lot of ways you can get affordable Medigap coverage. The best way is to compare dozens and dozens of companies before you grab the plan which is going to work best for you.

Each person has different healthcare needs, and it’s vital you find the perfect plan for you. Not having supplemental protection could leave you with some massive bills and drain your bank account.

If you want to find the best Medigap plan from the perfect carrier, the best way is to work with an independent agent. A normal agent is contracted by one company and they work exclusively with that company.

Independent agents are very different. We have the ability to bring you a dozen different quotes at once. Think about the time and money it will save you. Make one phone call instead of a dozen. Just shoot us a call at 800-376-0824.

 

 

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We work with individuals across the nation to secure the best medicare supplements rates.

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