Is Allstate a good Medicare carrier?

Allstate Medicare Insurance company runs Medicare supplement insurance under National General. In January 2021, it was acquired by Allstate. It has one of the Industry’s leading technologies and has a robust Broad portfolio of simplified sales. National General has premiums of over 1.3 billion. National General has recently transitioned its health business line to Allstate Health Solutions. This integration aims to facilitate their valuable customers in a more accessible way. The Medicare insurance will be the same coverage under the new brand Allstate Health Solutions. Beneficiaries acquire the same coverages in a new look with more reliable protection at affordable costs. This transition includes short-term medical, dental, and Medicare supplemental insurance.

Basics for Medicare Supplement Insurance Carriers

Before going further, we should know what Medicare is and how it works in 2022 & 2023.

 

Medicare Part A Premium and Deductibles:

It covers a range of medical areas, hospice, skilled nursing care, hospital stays coverage, and home health care.

Part A provides:

  • Inpatient Hospital
  • Home Health Care
  • Hospice Care
  • Skilled Nursing Facility (not custodial or long-term care)
  • Inpatient Rehabilitation

About 99 Medicare beneficiaries, especially those with at least 40 quarters of Medicare-covered employment, don’t have Part A premiums.

Part A Deductible and Coinsurance Amounts for Calendar Years 2022 and 2023 by Type of Cost Sharing are given below:

Part A Deductible and Coinsurance Amounts for Calendar Years 2022 and 2023 by Type of Cost Sharing 20222023
Inpatient hospital deductible$1,556$1,600
Daily coinsurance for 61st – 90th Day$389$400
Daily coinsurance for lifetime reserve days$778$800
Skilled Nursing Facility coinsurance$194.50$200

 

Medicare Part B Premiums and Deductibles:

• Preventative Services

Preventive services include exams, shots, lab tests, and screenings. They also include health monitoring, counseling, and education programs to help you take care of your health. If you have Medicare Part B (Medical Insurance), you can get a yearly “Wellness” visit and many other preventive services.

 

• Medical Necessary Services

Medical necessary services include services or supplies needed to diagnose or treat your medical condition that meets accepted medical practice standards.

Part B covers:

  • Clinical Research
  • Durable Medical Equipment
  • Ambulatory Service
  • Blood Transfusion
  • Doctoral Service
  • Mental Health (Inpatient & outpatient, Partial hospitalization)
  • Limited Outpatient Prescription Drugs
  • Screening of Different tests.

Each year the Medicare Part B premium, deductible, and coinsurance rates are determined according to the Social Security Act. The standard monthly premium for Medicare Part B enrollees will be $164.90 for 2023, a decrease of $5.20 from $170.10 in 2022. The annual deductible for all Medicare Part B beneficiaries is $226 in 2023, a decrease of $7 from the annual deductible of $233 in 2022.

 

Medicare Part B Income-Related Monthly Adjustment Amounts

A Medicare beneficiary’s Part B monthly premium is based on their income. These income-related monthly adjustment amounts affect roughly 7 percent of people with Medicare Part B. The 2023 Part B total premiums for high-income beneficiaries with full Part B coverage are shown in the following table:

Beneficiaries who file individual tax returns with modified adjusted gross incomeBeneficiaries who file joint tax returns with modified adjusted gross incomeIncome-Related Monthly Adjustment AmountTotal Monthly Premium Amount
Less than or equal to $97,000Less than or equal to $194,000$0.00$164.90
Greater than $97,000 and less than or equal to $123,000Greater than $194,000 and less than or equal to $264,000$65.90$230.80
Greater than $123,000 and less than or equal to $153,000Greater than $264,000 and less than or equal to $306,000$164.80$329.70
Greater than $153,000 and less than or equal to $183,000Greater than $306,000 and less than or equal to $366,000$263.70$428.60
Greater than $183,000 and less than or equal to $500,000Greater than $366,000 and less than or equal to $750,000$362.60$527.50
Greater than or equal to $500,000Greater than or equal to $750,000$395.60$560.50
 
 
 
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Medicare Part D

Part D’s other name is the Medicare description drug plan. It adds prescription drug coverage to:

  • Original Medicare
  • Some Medicare Cost Plans
  • Some Medicare private fees for service plans.
  • Medicare Medical Savings Account Plan
 

Since 2011, higher-income beneficiaries’ Part D monthly premiums have been based on income. These income-related monthly adjustment amounts affect roughly 8 percent of people with Medicare Part D. These individuals will pay the income-related monthly adjustment amount in addition to their Part D premium. Part D premiums vary from plan to plan, and roughly two-thirds of beneficiaries pay premiums directly to the plan, In contrast, the remaining beneficiaries have their premiums deducted from their Social Security benefit checks.

 

Part D Income-Related Monthly Adjustment Amounts

The 2023 Part D income-related monthly adjustment amounts for high-income beneficiaries are shown in the following table:

Beneficiaries who file individual tax returns with modified adjusted gross incomeBeneficiaries who file joint tax returns with modified adjusted gross incomeIncome-Related Monthly Adjustment Amount
Less than or equal to $97,000Less than or equal $194,000$0.00
Greater than $97,000 and less than or equal to $123,000Greater than $194,000 and less than or equal to $246,000$12.20
Greater than $123,000 and less than or equal to $153,000Greater than $246,000 and less than or equal to $306,000$31.50
Greater than $153,000 and less than or equal to $183,000Greater than $306,000 and less than or equal to $366,000$50.70
Greater than $183,000 and less than or equal to $500,000Greater than $366,000 and less than or equal to $750,000$70.00
Greater than or equal to $500,000Greater than or equal to $750,000$76.40

Medicare Part A and Part B cover certain medical services and supplies in hospitals, doctors’ offices, and other healthcare facilities. Medicare Part D covers prescription drugs. In addition, Medicare Supplement Insurance can help pay costs that the Original Medicare Supplemental doesn’t cover. These costs can include:

  • Part A coinsurance and deductibles
  • An additional 365 days of hospital costs after the lifetime limit on Part A coverage is reached
  • Part B coinsurance (20% of most services you receive) and deductibles
  • You may face additional costs by receiving care from a doctor who charges more than the amount Medicare agrees to pay for a service or procedure.
  • Hospice coinsurance
  • Skilled nursing facility coinsurance
  • Emergency care in a foreign country
  • Blood transfusions

Each year, review your Medicare health and drug coverage to see if it still meets your needs and decide if you want to make a change. You don’t need to sign up for Medicare yearly, but you should still review your plan policies.

 

 

Is Allstate a Good Medicare Carrier?

Allstate Medicare Supplement is known for its most comprehensive services and discounts. Allstate Medicare insurance works to cover out-of-pocket expenses and medical costs. It provides additional discounts to its valuable customers.

Allstate Medicare Supplement insurance offers you:

  • It gives the flexibility to see any doctor or hospital, with no network restrictions or referrals, as long as Medicare is accepted.
  • Automatic renewal as long as you pay the premium on time.
  • A 7% household premium discount if you lived with 1-3 other adults over 50 in the past year. (Varies by State.)
  • No paperwork to file. Just present your ID card, and benefits will be paid directly to the provider.

AM Best awards Allstate, a rating of “A+ Superior,” which is the highest rating a Medicare company can receive.

 

Allstate Medicare Supplement Plans

Allstate Health Solutions services offer different standardized Medicare Supplement plans in 41 states. It offers the same National General Medicare Supplement Insurance plans A, F, HDF, G, and N. Plan F also has a high deductible Plan F.

Details of Allstate Medicare Supplement plans available in 2022 are given below:

 

Medicare Supplement Plan A

Plan A is considered the most basic plan of all health care plans. Plan A is one of the more affordable Medigap plans as it just provides basic coverages:

  • Additional Part A Hospital Benefits
  • Part B Coinsurance
  • Part A and B Blood transfusion
  • Part A Hospice Coinsurance

Plan A doesn’t cover the deductible for hospitalization or inpatient care. You must pay the first of your hospital bills out of pocket before the plan starts covering your hospital or inpatient care.

 

Medicare Supplement Plan F

Plan F is considered the most comprehensive plan.

Plan F provides the most benefits of all the Medicare Supplement plans. In addition, It addresses some of the coverage gaps in Medicare Part A and Part B.

  • Part A Hospital Coinsurance
  • Additional Part A Hospital services
  • Part B Coinsurance
  • Part A and B Blood Coverage
  • Part A Hospice Coinsurance
  • Skilled Nursing Facility
  • Part A (Hospital Insurance)
  • Part B (Medical Insurance)
  • Medicare Part B Excess Charges
  • Foreign Travel Emergency
 

Medicare Supplement Plan G

Medicare Supplemental Plan G is one of the most popular Medigap plans with comprehensive coverage. It does not cover the Part B deductible: Medicare Supplemental Plan G coverages are:

  • Part A Hospital Coinsurance
  • Additional Part A Hospital Benefits
  • Part B Coinsurance
  • Part A and B Blood Coverage
  • Part A Hospice Coinsurance
  • Skilled Nursing Facilities
  • Part A Deductible
  • Foreign Travel Emergency
 

Medicare Supplement Plan N

Medicare supplement Plan N covers 100% of coinsurance for hospitalization (Medicare Part A) and medical care (Medicare Part B).

Plan N coverages include:

  • Part A Hospital Coinsurance
  • Additional Part A Hospital Benefits
  • Part B Coinsurance
  • Part A and B Blood Coverage
  • Part A Coinsurance and hospital stay up to 365 days
  • Blood transfusion (up to the first 3 pints)
  • Hospice Care
  • Skilled Nursing Facility
  • Part A (Hospital Insurance)
  • Foreign Travel Emergency

You’re responsible for doctor’s visit co-pays of up to $20 and emergency room visit copay of $50. Plan N does not cover Medicare Part B excess charges (in most states) and Medicare Part B deductible.

 

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Compare Medicare Supplement plans by premium, rating and rate increase history.

 

Frequently Asked Questions:

1. Question: What are the factors to consider before picking a good Medicare carrier?

These factors need your attention before picking a good healthcare provider.

  • Cost
  • Coverage
  • Prescription Drug
  • Doctors’ and Hospitals’ choice
  • Quality of Care
  • Travel

 

2. Question: What is the rating Allstate holds by the rating companies?

AM Best awards Allstate a rating of “A+ Superior,” which is the highest rating a Medicare company can receive.

3. Question: How do Other health plans like retiree health insurance work with Medicare?

When you have other insurance, there are rules for whether Medicare or your other coverage pays first. If you have retiree health coverage (like insurance from your or your spouse’s former employment)

Medicare pays first.

 

The Bottom Line

Allstate holds strong financial strength and has become one of the top picks in the Medicare market. With plenty of coverage options and discounts, this Medicare insurance is worth a look.

Sources:

https://www.cms.gov/newsroom/fact-sheets/2023-medicare-parts-b-premiums-and-deductibles-2023-medicare-part-d-income-related-monthly?fbclid=IwAR0KWmIrhFl7jeJn6aWUt3ZKlNm7D3385Y3pa5kjLlgcjnnGOYoBPmaGCR8