New Era Life insurance is an extremely well respected company in the industry offering Medicare supplement plans. That makes them ideal for Medicare subscribers looking for lower monthly premiums, lower annual rate increases, and great coverage for their medical bills. That is why many on Medicare will be considering New Era Medicare Supplement Plans in 2016.
Founded in 1924 and rated a B+ company from A.M. Best, New Era has been committed to client satisfaction and customer service while providing affordable health care to seniors for many years. Philadelphia American Life insurance and New Era Life insurance of the Midwest are divisions that fall under the parent company of New Era and combined they are offered in multiple states.
Probably the most subscribed to supplemental Medicare plans that New Era offers are its high-coverage plans which include Plan F, G, and Plan N. These are plans that cover the most items and reduce the out-of-pocket costs for policyholders.
Medicare Supplement Plan F
Plan F comes with the most coverage, automatically making it the most popular choice. With this plan, out-of-pocket costs are nonexistent on all Medicare-approved expenses.. It covers all nursing care, co-payments, deductibles, excess charges and the majority of emergency costs for medical care (in foreign countries), additional blood and coinsurance for Medicare Part A and Part B.
Plan G – One of the Best
Not everyone is going to benefit from Plan F’s all-inclusive coverage. For those people, a lower-coverage plan like Plan G may be more suitable. This plan takes all the coverage that Plan F offers and cuts it back slightly by asking policyholders to pay for the Medicare Part B deductible on their own. New Era has averaged extremely low rate increases on Plan G for many years now.
Medicare Supplement Plan N
Plan N comes with even less coverage, requiring policyholders pay for that deductible and the excess charges from Medicare Part B. There are also some small co-pays that users might run into on Plan N, however the monthly premiums are lower than both Plan F and G. This makes it a great option for people who are relatively healthy and don’t see their doctor often.
And these options are a good thing for consumers, as they have some choices and they don’t have to end up paying for coverage they would not use.
Plans for 2016
Medicare subscribers rely on their coverage staying the same to ensure that they still have the best plan for them. And for now, the coverage that is given by these three plans is supposed to stay the same, at least through 2016. If you are changing Medigap plans then remember you can apply for a new company at any time during the year, you do not need to wait until October. New Era Medicare Supplement Plans in 2016 should be some of the most cost-efficient for Medicare subscribers. Be sure to get quotes in your area to see how much you can save!
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