Update: Loyal American has transitioned to Cigna Medicare Supplement Insurance
Medicare is a great way to get health care that you wouldn’t be able to afford otherwise. It’s an excellent program that has helped millions of Americans get the health care that they need and deserve, but the program doesn’t’ cover everything. There are plenty of holes that aren’t covered, which means you could be left paying for massive hospital bills out-of-pocket.
One of the best ways to offset the rising costs of health care is to purchase a Medicare Supplement plan to give yourself additional coverage that Medicare Parts A and B don’t provide. These policies are sold through private insurance companies and help pay for dozens of expenses that aren’t covered by Original Medicare. There are ten different Medigap plans that you can choose from, depending on which state that you live in.
Because there are thousands of different insurance companies on the market, it can be difficult trying to find the company and policy that fits your needs. We are here to help you make those decisions. One popular choice for Medigap plans is Loyal America. They offer a variety of different supplemental insurance policies that can help you get the coverage that you need, but are they a great option for you?
Loyal American Medicare Supplemental Plans
Loyal American has been selling insurance products for more than fifty years, which means they have experience providing affordable insurance for millions of Americans across the nation. As a company, they offer all ten of the Medigap plans that are sold, but depending on where you live, all of them may not be available to you. Because these plans are standardized across the U.S., they are going to be identical to the same plan bought from any other insurance company.
Just like with every insurance company, there have been some customer complaints in the past. With customer reviews, you have to be cautious which ones that you pay attention to. Unsatisfied enrollees are much more likely to leave a review of the company that a customer that is happy with the service and coverage.
There are several complaints about the customer service that their representatives offer to their clients, and a few complaints about not explaining the policies or the services offered clearly. While there are several of these complaints, you shouldn’t let this deter you from applying with Loyal American if you still think they are your best option. As we mentioned, just because some customers are disgruntled, doesn’t mean everyone is going to have identical experiences with the insurance company.
Choosing the Best Medigap Plan for you
Aside from deciding which company offers the best rates and policies, you’ll also need to decide which Medigap plan fits your needs the best. There are several different factors that you’ll need to consider if you want to ensure that you’re getting the best policy to fit your needs. The first thing that you’ll need to look at is your health.
How is your health? Are you in good shape? Do you have a family history of having severe health complications later in life? If you’re in poor health with several preexisting conditions, you should invest in a policy that covers more of the gaps left behind by Medicare, this could save you thousands of dollars in the long run.
The another factor that you need to look at is your finances. Look at your budget and see how much money you can afford to spend on supplemental coverage every month. The goal of a Medigap plan is to save you money, but it shouldn’t strain your finances.
If you’re looking for a policy that covers all of the expenses, your best option is Medigap Plan F, but if you’re looking for a plan to save your money, Plan A is the basic option and will save you money every month. It’s vital that you get the coverage that you need, without paying for more coverage than you need.
It can be difficult weighing the different advantages of all the options. If you need help deciding which plan works best for your needs, are agents can look at your specific situation and point you in the right direction.
Getting the Best Rates – When and Where to Apply
With Medigap plans, there is an important time frame that you should be aware of, and that’s the 6-month window known as your Medigap Open Enrollment period, which surroundings the month that you turn 65 and join Medicare Part B. During this time, insurance companies can’t decline your application for coverage, regardless of your health or any pre-existing conditions. For some applicants, this could be their only chance to get the additional coverage that they want.
Additionally, not only can the insurance company not decline your application, but they can’t charge you more for coverage because of your health. Even if you’re in poor health, you’ll get the best rates offered by the insurance company. This could save you hundreds of dollars on your supplemental insurance.
Because these plans are standardized across the nation, the biggest difference between most insurance companies is how much you’ll pay for your coverage. Each insurance company is different, which means they will all give you different monthly premiums for their policies. It’s easy to see why it’s vital that you get quotes from multiple insurance companies before you choose the one that works best for you. It could save you thousands of dollars on your supplemental insurance plan.
The best way to compare rates from multiple companies is to work with one of our agents. Unlike traditional insurance agents, we are independent agents, which means that we don’t represent just one single company. Instead, we work with dozens of highly rated companies across the nation and can bring all of the lowest rates directly to you. We can save you both time and money on your Medicare policy. Your time is valuable, don’t waste it calling different companies and receive quotes.
If you have any questions about Loyal American or Medigap policies, please feel free to contact one of our agents today, and we would be happy to answer those questions for you and get you the supplemental coverage that you deserve. Having quality Medigap insurance is one of the best decisions that you can make. It’s an excellent way to protect yourself from massive medical bills that can drain your bank account and leave you struggling to pay for basic expenses.
Loyal American could be the best option for you. We can help you look at their reviews and their rates to connect you with the best company, regardless if it’s Loyal American or not. There are also other reviews available such as our Mutual of Omaha company review that we recommend you read over before making a final decision.