Why should you consider one of the New Era Medicare Supplement plans? Well with several big names offering Medigap policies in the industry to seniors there are obviously several choices which can leave one confused. Which company is best? How do you choose? A great first step is working with a qualified, experienced, independent agent who can show you a variety of options. An independent agent works with several carriers and can show you premiums from several companies in your area.
How To Choose a Medicare Supplement Company
There’s no doubt you’ve been receiving a great deal of literature in the mail if you’re turning 65, likely from companies such as AARP, United of Omaha, Gerber Life insurance, and Blue Cross Blue Shield. These are outstanding company’s and only a handful of the ones that offer products in your area. And because you’re turning 65 you are in the open enrollment period, which means you have six months to apply for coverage without having to go through medical underwriting. This is great for anyone with pre-existing conditions of course.
New Era Life insurance was incorporated back in 1924 and now offer Medigap plans in several states. They offer their Medigap policies and life insurance products through their family of companies which are:
- New Era Life Insurance Company
- New Era Life Insurance of the Midwest
- Philadelphia American Life Insurance Company
Their current management took over in 1989 and has been doing an outstanding job in keeping rate increases relatively low, focusing on the consumer’s needs rather than just agent’s commissions. Often their Medigap Plan G has only increased on average 6 percent per year in several states which is fantastic.
Compared to Other Companies
It is fairly common for people just entering Medicare to not have heard of certain company’s. After all, if they just specialize in Medicare products you simply just have not needed them up until now. New Era Life Medicare Supplement plans are identical to other companies due to the standardization of these plans. This means their Plan F, or G, is the same Plan F or G from anyone else. Therefore it pays to get quotes from all the top carriers and not just one.
New Era has a B+ AM Best rating which is perfectly fine, and they offer plans such as Plan F, Plan G, Plan A, and a High-Deductible Plan F. Their application process is relatively simply and your agent can even complete the application online with you, making the process extremely easy.
Again it’s best to get quotes from several Medigap companies with your agent’s help, and a New Era Medicare Supplement is certainly one you’ll want to look at and consider.