When it comes to insurance, Medicare can be a difficult thing to understand. There are several different Medicare plans offered by hundreds of insurance companies. Not every Medicare supplemental plan covers every aspects of what you need, and it can be confusing trying to understand the differences based on a simple chart alone.
What is American Continental Insurance? American Continental Insurance, ACI was founded in Brentwood, Tennessee in 2005 and is a subsidiary of Aetna Insurance. They provide life, health and Medicare Supplement insurance. They have an “A” rating by A.M. Best Company due to their financial stability, service, and reputation.
You would purchase a Medicare supplement plan if you are a Medicare beneficiary who needs help with some of the additional costs that are not covered by your primary insurance, which is Original Medicare, parts A and B. These additional costs include coinsurance payments, copays, and deductibles. There are several individual plans to choose from with American Continental Insurance.
Whether you are in search of a Medicare Supplement plan or you would just like to know more about it, keep reading to find out the answers to all of your questions about the American Continental Insurance Company.
Why American Continental Insurance?
American Continental Insurance, (ACI) first emerged in the early 2000s in Tennessee as a subsidiary of the Aetna insurance company, offering several affordable options for Medicare supplement plans.
Medicare supplement plans differ from the Medicare Advantage plans. Medicare Advantage, known as Part C, is a replacement for Original Medicare Part A and Part B.
A Part C plan does not cover everything 100% and could leave you with significant out of pocket in the form of copays for hospitalization and other services. (There are ways you can minimize the out of pocket on the Part C plans, check with your Broker).
Medicare Supplement plans, or Medigap, picks up the 20% that Parts A and B do not cover.
ACI, being an insurance company, offers many different types of insurance, from life insurance to health insurance. However, their Medicare Supplement insurance coverage is what we’ll be looking at today.
Now let’s explore the different types of plans that are offered by the American Continental Insurance Company. We’ll go through each of them in detail, and explain what gaps they fill, and how they can help you.
How These Plans Can Help With Supplemental Medicare Coverage
For people new to Medicare, this can all feel very confusing.
Original Medicare coverage comes in two parts, Part A and Part B. These cover certain aspects of your hospital visits. Part A will assist with costs related to medically necessary surgery and other hospital costs, while Part B will assist with doctor-related costs; such as doctor’s office visits, physical therapy, etc.
They both assist with copays and coinsurance to a certain percentage covering different aspects of visiting the doctor.
Medigap Plans, on the other hand, offer additional coverage beyond what is covered by Original Medicare. If for instance, you find yourself saddled by too many copayments or coinsurance payments, implementation of these Medigap plans will help with this.
Medigap plans differ in their coverage, sometimes depending on what state you live in. However, there are a few that are federally protected and required to be offered by all insurance companies across the USA.
American Continental Insurance Plans
In total, the American Continental Insurance Company offers five separate Medicare supplement plans. As long as you qualify to be covered, you will have a variety of options to choose from, each one offering different types of payments and benefits.
Below, you will find a list of the five Medicare supplement plans ACI provides, with further explanations of each as we move through the rest of this section.
American Continental Insurance Medicare Supplement Plans:
- Medigap Plan A
- Medigap Plan B
- Medigap Plan F
- Medigap Plan F (High Deductible)
- Medigap Plan G
- Medigap Plan N
Medigap Plan A Covers 100% of the coinsurance that is normally charged when a patient stays in the hospital. There is also an extra 365 days of hospital coverage throughout the patient’s lifetime after Medicare benefits are used up.
It also covers copays and coinsurance payments from Medicare Part B, as well as covering the cost of 3 pints of blood used in a medical procedure, and any hospice care coinsurance left behind by the gaps in Medicare Part A.
However, Medigap Plan A does not cover Skilled Nursing Facility coinsurance, or any deductibles for Part A or Part B. For coverage on those, we’ll need to look to another Medigap plan.
Medigap Plan B offers the same benefits that were outlined above for Medigap Plan A, however, it also covers the deductible for Medicare Part A.
Medigap Plan B does NOT cover the deductible from Medicare Part B, nor does it cover any extra expenses from Part B. It will not help you if you’re injured and need hospital care while traveling in another country, nor will it help with the coinsurance costs incurred by visiting a Skilled Nursing Facility.
Medigap Plan F, on the other hand, lists a lot more features than both of the plans that were described earlier in this section. Inclusive of everything that was mentioned for both Medigap Plan A and B, there are some additional benefits when you choose this plan.
Plan F covers Medicare Part A hospice care copayments; nursing facility coinsurance; both Part A and B deductibles; any Part B excess charges; and even foreign travel emergency medical costs.
High-Deductible Plan F High-Deductible Plan F has a lower monthly premium. You will be required to meet a deductible of over $2,000 before anything is covered by this plan.
The Medigap Plan G option is a very popular plan, with coverage on all points except for the Medicare Part B deductible. It also includes foreign travel emergency coverage.
Medigap Plan N, the last option we’ll cover in this article, covers everything the same as plan G including Part A coinsurance and deductible.
There is no coverage for the Medicare Part B deductible and any excess charges, except for states where excess charges are not allowed. You could also be charged up to a $20 co-pay for doctor visits and $50 co-pay for the emergency room, which is waived if admitted to a hospital room.
When To Consider American Continental Plans
Now that you’ve learned about the wide array of Medicare Supplemental plans at American Continental, you might be wondering when you would ever consider purchasing one of them? The list down below will give you a general outline of some circumstances where you might need coverage, but the decision will come down to your needs and wants.
When To Consider American Continental Medigap Plans:
- You meet all the requirements for acceptance. In order to be able to purchase a Medigap plan, you must be enrolled in Original Medicare Parts A and B. Medigap plans exist only to fill the gaps left behind by the Original Medicare coverage Parts A and B.
- You may or may not have to answer health questions on the application. There are specific enrollment periods that may allow you to get a policy on a Guarantee Issue basis, as in the case of losing employer coverage.
- If your copays/coinsurance costs leftover from Original Medicare coverage are too high, you may want to consider applying for a Medigap policy.
- Another situation to consider Medigap is if you have health issues and see the Doctor often. If you’re in a Part C Medicare Advantage plan, sometimes the co-pays can be overwhelming. A Medigap plan may reduce your out of pocket costs significantly. This is some of the most comprehensive coverage that provides a more predictable cost.
American Continental Insurance Reviews
One of the most important things to consider before purchasing coverage from an insurance company is how they treat their customers.
What Customers Think Of American Continental Insurance:
American Continental Insurance has been growing over the last twenty years or so. They are a newer and smaller company exceptional and friendly customer service and backed by the solid reputation of Aetna.
ACI has competitive pricing in many markets.
*Plans vary by state and insurance carrier so please contact one of our licensed Medicare Supplement agents at (800) 783-5901 to check availability in your area.
