Cigna National Health Insurance Company – CNHIC Review
For some Medicare recipients, the current supplements on the market may not cover all of their needs. News of a new supplement plan is great, providing new options to recipients looking for better coverage.
Cigna is now offering three new plans which are meant to reward recipients and create more savings. These plans are A, F, G, & N, which provide more affordable supplemental coverage than other plans on the market.
New Medicare Supplement Release in South Carolina and Pennsylvania
Cigna National Health Insurance Company (CNHIC) will be launching with more states to follow.
This new company from Cigna will provide supplement products with:
- Newer, competitive rates and more rate classes
- Enhanced 15% total household discount
- Hearing discounts Receive an average of 62% off retail on name-brand hearing aids and 40% off diagnostic services and testing at more than 5,6002 locations.
- Health and wellness discounts
- Freedom to Choose your doctors
- Guaranteed renewable policy for life
- Vision discounts Save on routine vision services such as exams and eyeglasses at more than 25,0002 locations nationwide.
- Enjoy savings on popular weight management, nutrition programs and alternative medicine services such as acupuncture, massage therapy and occupational therapy. The Active&Fit Direct® program Access to over 10,000 fitness centers nationwide for $25 per month.
- A health advocate is ready to help answer your health questions and guide you to find the right care. Call and get the help you need 24 hours a day, seven days a week.
Who is Cigna?
Based in Bloomfield, Connecticut, Cigna was formed out of the merger between the Connecticut General Life Insurance Company and the INA Corporation in 1982. Cigna, a mix of the two companies’ names, offers medical, disability, life, and accident insurance in both Medicare and Medicaid. Cigna mostly offers their services to employers as an employee healthcare plan.
Now Cigna is number 13 in the Fortune 500 list based upon revenue, serving customers in the U.S. and in select international markets for a total of 30 different countries.
Why Cigna National Medicare Supplement?
Not only are plans affordable, but Cigna has the unique benefit of rewarding their customers. This program is called Healthy Rewards and offers unique benefits to its customers for a variety of services.
With Healthy Rewards, recipients can receive up to 25% off a registered dietician, Gaiam health and wellness program and other discounts for Gaiam products, up to $800 off LASIK vision correction, and various discounts on alternative medicines.
Cigna definitely offers some of the most affordable plans and keeps customers first.
Previous Cigna products such as ARLIC (American Retirement Life Insurance Company) and CHLIC (Cigna Health & Life Insurance Company) will be unavailable whenever Cigna’s new program launches.
Under Cigna’s new program, they will offer Medicare supplement plans A, F, G, & N. Here’s a brief primer on which each of the supplement plans cover.
Plan A is the basic Medicare Supplement and each product builds off of Plan A. Regardless of company, coverage plan will contain the same coverages. Differences between companies will not include coverage. Differences will be found in policy cost, extra benefits, customer service standards, claims processes, and financial stability.
All other plans are built off Plan A, so understanding the coverage in this plan will help with the other plans. Plan A policies along with other plans will include these benefits:
- Plan A offers 100% coverage on:
- Part A coinsurance
- First 3 Pints of Blood
- Part A hospice coverage
- Part B copayments or coinsurance
Plan F is the most comprehensive Medicare Supplement available today. The plan will cover everything that the original Medicare does not pay in full. Because the coverage of this plan is so broad, it is the most frequently purchased plan.
Including Plan A, you will also receive the following coverages:
- Medicare Part A deductible
- Medicare Part A & Part B coinsurance
- Hospital costs are covered for 365 days after you deplete the Medicare benefit
- First 3 pints of blood needed
- Nursing Facility Coinsurance
- Medicare Part A & B deductibles
- Emergency Medical expenses in a foreign country
- Part B excess charges
If you see a physician that accepts Medicare and your treatment is a covered expense, you will not have any out-of-pocket medical expense.
Freedomfrom doctor office co-pays! Who doesn’t like that?
The deductibles that you pay under Medicare Part A & B is covered under plan F. This even include hospitalization and outpatient deductibles. And also it covers 20% that is not included under Medicare Part B.
This 20% Part B Coinsurance is significant. Here’s an example of what this covers. Suppose you are having issues with your knee. Your regular physician recommends you visit an orthopedic specialist to be examined. Medicare would pay 80% of the specialist visit. Plan F picks up the 20% cost. The specialist then sends you to a radiologist to further examine your knee. The cost of MRIs and other imaging technologies can be high, along with the time spent having a professional read the images. Medicare will pay 80% of this cost, and plan F will pick up the 20%. Can you imagine how much that 20% would be if your paid it out of pocket.
No referrals. If you need to see a specialist, you don’t need to go through the referral process with your normal doctor. Your doctor can make recommendations, but your are not obligated to go through the referral paperwork process.
These benefits alone explain why we like Plan F and it has become the most popular option among Medicare recipients.
Plan G offers almost the same coverage as Plan F except for one omission. Plan G will not cover the Part B deductible that Plan F covers. Even with this omission, Plan G is still extremely comprehensive and provides coverage over most healthcare needs. Listed are some of the healthcare needs that Plan G covers:
- Medicare Part B copay and coinsurance along with excess charges
- Medicare Part A deductible, copay, and coinsurance
- Routine and basic doctor visits
- Preventative care coinsurance under Part B
- Abroad travel emergencies
- Skilled nursing home coinsurance
- Blood transfusions, X-rays, surgeries, ambulances, and medical equipment
As you can see, Plan G is a great, affordable option for supplemental insurance, offering coverage over most healthcare needs. If Plan F is a little over your budget, then Plan G may be the right choice for you.
If you are budget-conscious, then considering Cigna’s Plan N could be perfect for you.
Plan N has the same hospital coverage as Plans F and G. Plan N will pay your hospital deductibles and co-pays the same as the two “better plans, F and G.”
So what is the difference?
With a Plan N, you will have to pay some co-pays out of your pocket:
Here’s a good idea of what you will have to pay out of pocket:
- The annual Part B deductible, presently $198 per year.
- A copay for each doctor visit, up to $20 per visit.
- A $50 copay per emergency room visit, unless the ER visit leads directly to a hospital stay. In that case, you pay zero for the ER visit.
- All Part B “Excess Charges.” This means some doctors can charge you an extra 115% of their Medicare-approved bill. You can avoid those charges by only using doctors who are on “Medicare Assignment.” If you are not sure, ask your doctor’s office in advance if they charge the extra 115%.
If you are person who has frequent doctor visits, or past serious illnesses that could return or compromise your health, Plan N is not for you.
You will need to do some math here. If the premium savings for N are more than your potential out-of-pocket expenses, you should consider. If the analysis, overwhelms you, don’t worry. We can help you do the math and analyze if this is a good option.
Is Cigna an HMO or PPO?
If you know what an HMO or a PPO is, you are probably wondering which of these Cigna falls under. If you do not know what HMO or PPO is, here is a short explanation.
A PPO, or preferred provider organization tends to be higher cost because it is a premium provider. Recipients that choose a PPO will pay more out of pocket, but will receive some benefits in exchange. PPO’s tend to be more flexible, providing use of providers even if they are not in the network or do not have a referral. Out-of-pocket medical costs will also be higher on average since it is a premium plan.
An HMO, or health maintenance organization, is the opposite of a PPO. Since an HMO is not a premium option, recipients lose some flexibility in exchange for lower costs. Every healthcare provider must be within the network and referrals are required. There are a few exceptions such as emergencies. For the most part, these plans are the most affordable.
Cigna is an HMO, making it an affordable option for Medicare recipients looking for great coverage without paying as much out of pocket.
CNHIC is now available for purchase in IN and SC. CNHIC will be available in PA on August 10th, 2020.
Check back and we will update state availability as it is released.
Cigna is one of our top-tier companies and are always confident in recommending them when the fit the needs of our clients.
Like every Medicare decision you make, you should look at multiple options and plans. We can help you do that.
We are very excited about the new product that Cigna is launching, and will be welcome in the marketplace. It may even push other carriers to create more competitive products as well.
We love connecting people with the right insurance plans.
Learn more about the Cigna Supplement Insurance Plans by connecting directly with one of our trusted agents.
Prefer to speak by phone? Give us a call!