Medicare Supplement Quotes

Sterling Company Review

Written by Evens Stevenson

Upon turning age 65, there are many who will turn to Medicare for their health insurance needs. This program can offer a way for seniors to have many of their medical expenses paid for.

However, what a majority of people may not realize is that Medicare can leave many “gaps” in its coverage that can lead to a substantial amount due from enrollees out-of-pocket. These costs will often come in the form of copayments, coinsurance, and / or deductibles.

Because of these potentially excessive charges, many who are enrolled in Original Medicare will buy a Supplemental Policy. These policies, also commonly referred to as Medigap insurance coverage, can help Medicare beneficiaries from spending an exorbitant amount of their health care services.

When choosing the best Medicare Supplement insurance policy for your needs, it is important to understand that there are ten plans that you. These plans range from providing a set of basic, core benefits (Plan A) to more comprehensive coverage alternatives (Plan F, G and N).

Because these policies are sold through private insurance companies, the prices of the plans are going to differ from carrier to carrier. The coverage is standardized, but the prices are not. The rates from two companies could be drastically different.

Before you buy a Medigap plan, you need to figure out the company which will work best for you. To assist you on the journey, we have reviewed Sterling Company.

The History of Sterling Company

Sterling Investors Life Insurance Company has been in business for more than three decades. Throughout its history, this company has had a focus on assisting individuals and couples with coping with the ever-rising cost of medical care and treatment.

Throughout its time in business, Sterling has built its company by offering affordable premium rates for its policyholders, along with by providing stellar customer service and cutting edge support for its sales agents. The company has always been committed to continuing these services to its growing family of customers. The motto of Sterling Insurance is to “Provide stable insurance protection to today’s seniors..for the rest of their life!”

In mid-2015, Sterling Investors was purchased by SILAC, LLC. At that time, the company relocated its corporate headquarters to Indianapolis, Indiana. However, even with this change, Sterling still remains the great insurance company that is has been for more than 30 years.

Sterling Company Review

Today, Sterling Investors Life Insurance Company continues to serve the insurance needs of middle-class Americans. It offers insurance protection across a broad array of insurance plan options.

The company has grown from a small regional insurance carrier to a company that operates in 46 of the U.S. states. Sterling presently offers its coverage products via a network of more than 3,000 independent insurance agents.

This insurer operates with the philosophy that its customers always have a choice in the insurance company that they opt to work with. Therefore, Sterling is proud to operate with a sense of gratitude for its customers having chosen this company in order to serve their protection needs.

Insurer Ratings and Better Business Bureau Grade for Sterling Company

Because of their stable history, Sterling Investors Life Insurance Company has great financial ratings by the insurer rating agencies. The company is rated as a B (Fair) by A.M. Best Company. It has also been given the rating of BBB+ by Fitch ratings.

Sterling has not received accreditation from the BBB, nor have they provided Sterling Investors Insurance Company with a grade. Therefore, there have been no customer complaints through or closed out through, the Better Business Bureau over the past three years.

Which Medicare Supplement Insurance Plans are Offered By Sterling?

Sterling Company sells just about every Medigap plan available:

  • Plan A
  • Plan B
  • Plan C
  • Plan D
  • Plan F
  • High Deductible Plan F
  • Plan G
  • Plan M
  • Plan N

With Medicare Supplement Plan A, an individual can obtain coverage that exceeds that of Medicare Part A and Part B, yet typically with a lower premium outlay than some of the other Medigap plan offerings. Medigap Plan A gives:

  • Medicare Part A coinsurance and hospital costs – up to an additional 365 days after Medicare benefits have been used up
  • Medicare Part B coinsurance or copayment
  • The first three pints of blood per year
  • Medicare Part A hospice care coinsurance or coinsurance

If an Original Medicare enrollee wants more protection, they could opt for Plan B, which offers all of the coverage that can be found in Plan A, along with coverage for the Medicare Part A deductible.

By stepping up to an, even more, benefit rich plan, Medicare Supplement Plan C offers all of the benefits that are found in Plan A and Plan B, as well as additional coverage for the following:

  • Skilled nursing facility care coinsurance
  • Medicare Part B deductible

For even more comprehensive coverage, there is also Medicare Supplement Plan F. With this plan; a policyholder can obtain the following benefits:

  • Medicare Part A coinsurance and hospital costs – up to an additional 365 days after Medicare benefits have been used up
  • Medicare Part B coinsurance or copayment
  • The first three pints of blood per year
  • Medicare Part A hospice care coinsurance or coinsurance
  • Skilled nursing facility care coinsurance
  • Medicare Part A deductible
  • Medicare Part B deductible
  • Medicare Part B excess charge
  • Foreign travel exchange – up to the plan limits

Medicare Supplement Plan F also offers a high-deductible Plan F. With the high-deductible Plan F, the coverage is going got be the same, but you have to meet the deductible amount before the coverage kicks in.

Typically, for a slightly lower premium than the regular Medicare Supplement Plan F, Plan G could be chosen. That is because this plan offers all of the same benefits as Plan F, except without the payment for the Medicare Part B deductible.

Medicare Supplement Plans M and N can also provide more of middle option, as these plans provide far more than the core benefits that are found in Plan A, yet less than Plans F and Medigap Plan G. For example, with Medigap Plan M, a policyholder can obtain the following coverage:

  • Medicare Part A coinsurance and hospital costs – up to an additional 365 days after Medicare benefits have been used up
  • Medicare Part B coinsurance or copayment
  • The first three pints of blood per year
  • Medicare Part A hospice care coinsurance or coinsurance
  • Skilled nursing home facility care coinsurance amount
  • 50 percent of the Medicare Part A deductible
  • Foreign travel exchange – up to the plan limits (which is 80 percent)

Medigap Plan N gives you:

  • Medicare Part A coinsurance and hospital costs – up to an additional 365 days after Medicare benefits have been used up
  • Medicare Part B coinsurance or copayment
  • The first three pints of blood per year
  • Medicare Part A hospice care coinsurance or coinsurance
  • Skilled nursing facility care coinsurance amount
  • Medicare Part A deductible
  • Foreign travel exchange – up to the plan limits (which is 80 percent)

With Plan N, 100 percent of the Medicare Part B coinsurance is paid, other than for a copayment up to up $20 for some doctors’ office visits, and up to a copayment of $50 for emergency room visits that do not end up resulting in an inpatient admission.

The government has regulations on Medigap plans and the coverage they can provide. Companies are required to provide certain coverage based on the letter.

For that reason, it is essential to compare the premium price of the plan that you are interested in from several different insurers – as it could end up making a substantial difference is what you pay for coverage over time.

While doing this could take some time if you go from one individual insurance carrier to another, you can save a considerable amount of time and effort by working in conjunction with an independent Medicare Supplement insurance brokerage or agency. This can allow you to compare the plans and the premium cost of Medicare Supplement coverage from numerous insurance carriers all in one convenient place. It will also provide you with a more unbiased comparison. From there, you will be able to choose the plan and the premium that will work the best for your Medigap coverage needs.

Where are the Medicare Supplement Insurance Plans from Sterling Company Sold?

Sterling Investors Insurance Company offers its Medicare Supplement insurance plans in 16 states: Mississippi, Florida, Oregon, Nevada, West Virginia, Kentucky, New Mexico, Oklahoma, Georgia, Missouri, South Dakota, Illinois, Montana, Tennessee, and Indiana.

Other Products Offered Through Sterling Investors Life Insurance Company

Sterling also provides additional products and services to its clients. These include the following:

  • Convalescent Care Insurance
  • Cancer Indemnity Insurance

Finding the Best Medigap Insurance

There are thousands of insurance carriers out there. Do you want to call dozens of companies? You would answer the exact same questions a hundred times.

If that doesn’t sound very attractive, there is another way you can secure quotes. Instead of wasting time, let one of our experienced agents do the work for you.

We have relationships with dozens of companies and can provide you with personalized quotes based on your information. You won’t get some generic quotes which are way off. Not only can we deliver those quotes, but we can also help you pick the one best for you.

If you have questions or you want access to your quotes, contact us today. We know Medigap shopping isn’t fun, but that’s why we are here.

 

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

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