What is United World Life Insurance Company? The United World Life Insurance Company was created in 1983 in Omaha, Nebraska. After serving their clients well for so many years, they have been galvanized in the market, having earned the rating of an “A+” company.
United World Life offers Medicare Supplement plans to its members which help to bridge the gaps left behind by Medicare Part A and B. These plans can help with the costs of doctor visits, hospitalization stays, copays and coinsurance, and deductibles.
In this article, we’ll cover everything you need to know about United World Life Insurance’s Medicare Supplement plans. From the institution’s history to specific coverage plans and customer reviews.
What Is United World Life Insurance?
United World Life Insurance was created as a subsidiary of a larger organization called Mutual of Omaha in 1983, and has been going strong ever since. Mutual of Omaha funded the “Wild Kingdom” television program, hosted by Marlin Perkins and Jim Fowler, for over 20 years, which has now migrated to a web series hosted by Stephanie Arne, and is still going strong. Documenting and glorifying in nature’s wonderful splendor.
Mutual of Omaha was also one of the first insurance companies to offer disability insurance to non-professional workers and in 1966 began offering Medicare supplemental insurance.
Fast forward to 1983 and beyond, United World Life Insurance offers many types of insurance, from general life insurance to Medicare supplement plans. For today, we will be going over the Medicare supplement plans they offer, of which there are 10 total options to choose from.
Insurance Plans With United World Life
United World Life offers 10 different Medicare supplement plans, each one offering a slightly different set of benefits than another.
By reading through the list down below, you will learn the names of all Medicare supplement plans that are offered by United World Life and the benefits they provide.
United World Life Medicare Supplement Plans:
- Plan A
- Plan B
- Plan C
- Plan D
- Plan F
- Plan F (w/ High-Deductible)
- Plan G
- Plan K
- Plan L
- Plan M
- Plan N
Plan A offers only the most basic benefits, helping with copays and coinsurance payments not covered by Medicare Part A and Part B; Hospitalization expenses and doctor’s office expenses respectively.
Plan B will cover the same expenses as Plan A, all leftover expenses from visits to the doctor’s and hospitalization, but in addition to that, Plan B will also take care of the deductible for any Hospitalizations (Medicare Part A).
Plan C will again offer the same benefits as Plan A and B, but will also offer assistance with coinsurance with regards to any time spent in a skilled nursing facility. As well as taking care of the deductible left over from Medicare Part B, and it will also insure you in case you need to visit a hospital while visiting a foreign country.
Plan D will cover many of the same bases as Plan C, meaning that it will cover left over coinsurance payments and copayments; Skilled nursing facilities coinsurance; foreign travel emergency room coverage; and the deductible left over from Medicare Part A. However, Plan D does not cover the deductible left over from Medicare Part B, like Plan C above.
Plan F comes in two different varieties: A regular Plan F and a high deductible Plan F. The basic Plan F includes coverage all across the board, from the basic benefits we discussed above included in plans A through D; both Medicare Part A and B deductibles and even covering excess charges left over from the Medicare Part B.
The high deductible Plan F requires a more expensive deductible as the name might suggest. When you choose the high deductible plan, you must pay the full deductible before being able to reap any of the plan’s benefits. The deductible was measured out to be just under $2300 in 2018 and might change in coming years, but the added benefit is that you will not have to pay for anything out of pocket once the deductible is met.
Plans G, M, and N all cover basic expenses as well as Part A deductibles and skilled nursing coinsurance. However, Plan G will cover 100% of the excess charges left behind by Medicare Part B, and while Plans G and N take full responsibility for the Medicare Part A deductible, Plan M will only cover exactly half of these expenses.
While Plan N does cover a wide range of services, there is a requirement for a 20 dollar co-payment during in-office visits, as well as a 50 dollar co-payment for trips to the emergency room, no matter how much of the plan has been paid.
Plan L will take care of basic hospitalization benefits, but will only cover 75% of basic benefits such as, the Medicare Part A deductible, and skilled nursing coinsurance.
Plan K provides the same benefits as Plan L, however, it will only cover 50% of those basic benefits listed above under Plan L.
When To Consider Getting Covered By United World Life
While it is true that United World Life Insurance can provide all the popular options for Medicare Supplement plans, it is important to be aware of what you are eligible for and when you should consider getting covered by one of these plans.
Before you can start to shop around for Medicare supplement plans, you will need to make sure that you are eligible for coverage. These requirements include being 65 or older and/or already enrolled in both Medicare Part A and B, what is known as Original Medicare.
You’ll also need to live in a state where these plans are offered. While every state does offer the Medicare supplement plans discussed above, United World Life Insurance is not available in every state.
United World Life Insurance is available in the following states: Alabama, Arkansas, Colorado, Delaware, Kansas, Maryland, Minnesota, Montana, North Dakota, Pennsylvania, Utah, and Wyoming.
Once you have established that you’re eligible, you will need to evaluate your lifestyle and the kind of medical care that you will need. These types of plans are ideal for someone who is looking for the most comprehensive coverage and a more predictable payment every month.
These plans are great for those who travel. They follow you wherever you go throughout the United States and also some plans include foreign travel emergency coverage.
What Customers Think Of United World Life Insurance
Now that you’ve learned almost everything you need to know about what United World Life Insurance is, as well as what they cover and when you should consider purchasing a plan, the only thing left to discuss is what their existing customers think of them.
Being an established company since the early 1980s, United World Life has been able to retain a loyal customer base that has nothing but positive feedback for their service. Take a look at the list down below to learn some of the main points of what their customers are saying about them online.
Customer Reviews Of United World Life Insurance:
- Financial stability
- Excellent customer service
- Experienced representatives
- Quick issue of policies after purchase (approximately 4 days)
Given that the United World Life Insurance Company has been around for decades, they are clearly very financially stable, which reflects in the plans and services that they are able to offer to Medicare beneficiaries.
On top of that, they have experienced representatives who have been with them for years. Their employees are able to provide excellent customer service and help their customers through any problems or concerns that they might have with their coverage.
Additionally, United World Life is able to quickly issue Medicare supplement policies after they are purchased. On average, it takes approximately 4 days to get covered by the insurance after approval and initial payment.
These plans are most ideal for seniors who want peace of mind knowing that any unexpected medical costs will be taken care of. United World Life can assist with helping you get the most out of your Medicare Insurance plan.
