Loyal American Medicare Supplement

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Loyal American Medicare Supplement – Company Review

Loyal American Insurance was founded in 1955 and is based out of Austin, TX; and is a member of the group of businesses known as Great American Financial Resources. In recent years, Loyal American has gone on to become a subsidiary of Cigna, a leading health insurance company. Loyal American is known as a top Medicare Supplement Insurance provider thanks to its competitive rates and comprehensive coverage. They have earned an A- rating from AM Best and an A+ rating from the Better Business Bureau. However, due to substantial rate increases over recent years, we believe that this subsidiary will need to demonstrate more rate stability to ensure confidence.

Accident expense insurance, lump sum heart attack and stroke insurance, lump sum cancer insurance, cancer treatment insurance, whole life insurance, and federally standardized Medicare supplement policies are among the Cigna supplemental benefits covered by the Loyal American Life Insurance company.

 

Benefits of Loyal American Medicare Supplement Plans

Medicare supplement plans help to cover the individual out-of-pocket costs that Original Medicare (Part A and Part B) doesn’t cover on its own. Generally speaking, these health plans include both Medicare Supplement policies and Medicare Advantage health plans. However, Loyal American offers Medigap policies only, so that’s where we’ll be focusing on. It offers additional coverage through four Medicare supplement offerings: Plan A, Plan F, Plan G, and Plan N. 

What helps to differentiate Loyal American from other carriers is the value they pass on to customers through their customer programs, membership, and support. These third-party discounts are not considered insurance and are not available in every state offered. When you purchase a Medicare Supplement plan from Loyal American, you may receive the following benefits:

  • 30-day Free Look Period
  • Guaranteed Renewable for Life
  • Portable Coverage
  • 12-month Rate Lock-in
  • Value-Added Customer Programs
  • Cigna’s 24-hour Health Information Line
  • Silver and Fit Gym Membership

 

Loyal American Medicare Supplement Prices

*The above rates are from zip code 20001 in Washington, DC for females age 65. Rates vary based on zip code, gender, age, and, in some areas,  health.

  • Plan A: $183.50
  • Plan F: $226.13
  • Plan G: $162.37
  • Plan N: $116.29

Rates are for illustrative purposes and may be subject to change from the time of publication.

It’s important to keep in mind that all  Medicare supplement policies are federally standardized. Meaning that they must cover the same exact benefits. This makes shopping around a critical step in the Medicare supplement decision process. Be sure to check out the other important factors that should be driving your Medicare supplement decision.

 

Medicare Guidance

 

What Medigap plans does the company offer?

Loyal American offers four different supplement plans: Plan A, Plan F, Plan G, and Plan N. These Medicare Supplement policies help to cover the gaps in coverage left by Original Medicare. Each plan offers the beneficiary a different option for cost and coverage priorities. We’ll discuss the aspects of each plan below to help you understand which supplement best matches your healthcare needs.

The basic coverage with Medigap includes:

  • Hospitalization: Coverage for the Part A coinsurance* plus 365 extra days after the termination of Medicare benefits. 
  • Medical Expenses: Copayments** for hospital outpatient services or Part B coinsurance (often 20% of Medicare-approved Expenses). 
  • The first three pints of blood are donated each year. 
  • Part A coinsurance for hospice.

*Coinsurance implies the percentage of healthcare expenses you share with your medicare insurance plan. E.g., You pay 20%, and your Part B Medicare pays 80%. 

**Copayments are fixed payments you make to your medical service provider when you receive their services.

 

Loyal American Medicare Supplement Plan A

Loyal American’s Plan A helps to cover remaining hospital costs once your Medicare Part A deductible1 is met. Additionally, it helps to cover remaining medical service costs once you have met your Medicare Part B deductible. Together with Medicare, Plan A covers your first 20 days in a skilled nursing facility and 100% of hospice care. Some important factors to keep in mind with Plan A is that the beneficiary is responsible for all Medicare Part B excess charges2 and all foreign travel healthcare costs.

However, it’s crucial to note that Plan A is not very popular as the price is usually high in comparison to the coverage. Instead, try exploring other elaborated Medigap plans if you are looking to get value for money.

Deductible: Prior to their insurance coverage beginning to pay for their medical care, policyholders must pay a set amount of money known as the deductible. The insurance company determines the length of time for deductible payments.

Part B Excess Charges: When your consulting physician charges you extra than what Medicare is willing to cover, the extra sum is called Part B excess charges. This is an out-of-pocket expense in addition to the 20% you already paid for the service.

 

Loyal American Medicare Supplement Plan F

Loyal American’s Plan F picks up coverage for everything that Original Medicare leaves out. This means that it will help with all your Medicare deductibles and coinsurance payments. It covers both Medicare Part A and Part B deductibles, as well as Part B’s excess charges. Thanks to its extensive coverage and low out-of-pocket costs, Plan F has long been a customer favorite. However, the tradeoff with Plan F’s comprehensive coverage of all medical costs is that this plan also carries the highest monthly premium and is prone to rate increases. Additionally, be mindful if you are planning ahead that Plan F was discontinued as of 2020 unless grandfathered in.

 

Loyal American Medicare Supplement Plan G

Loyal American’s Plan G is very similar to Plan F in nearly every way, offering extensive coverage for aspects left uncovered by Original Medicare. The one key difference between the two plans is the Medicare Part B deductible. Plan G does not cover it as Plan F does. For this reason, however, Plan G can prove to be a more cost-friendly alternative. While you do have to cover the cost of Medicare Part B deductible in this plan, the premium is lower and may offset the cost. Plan G also tends to experience fewer rate increases compared to Plan F.

 

Loyal American Medicare Supplement Plan N

Loyal American’s Plan N coverage shares similarities with Plan G. However, a key difference is that there are copays associated with Plan N, such as a $20 copay for doctor office visits and a copayment for emergency room visits up to $50. Like Plan G, Plan N does not cover the Medicare Part B deductible. Due to the possibility of needing to cover more out-of-pocket expenses, Plan N offers a lower monthly premium.

 

Medicare Supplement Chart 2023

 

What is the Best Loyal American Supplement Insurance Plan?

As you can see from the plan points above, Loyal American plans vary in their coverage options and monthly premium costs to meet the different needs of their customers. They range from completely comprehensive to more value-driven. Choosing which of these Medicare plans is best for you will depend on which aspects of supplement coverage you feel matter most. When weighing your options, also take into account your current lifestyle and health status, as well as financial matters such as costs and budgeting.

When comparing Loyal American Medigap plans, it is important to note that the same basic benefits of each plan are uniform across the country no matter where you purchase your Medicare Supplement. Additionally, these basic benefits are the same from carrier to carrier. So, purchasing Plan F from one insurance company would provide the same coverage as it would purchasing from any other insurance company. However, plan prices may differ from state to state.

A licensed agent can help you determine which Loyal American supplement plan best fits your needs. Connect directly with one of our agents to find the plan that’s right for you.

 

Enroll Medicare Supplement

 

A Few Things to know about Loyal American Medicare Supplement Policy

30- Day Policy Return Window

You have the option to return your policy to Loyal American Life Insurance Company if you are dissatisfied with it. They will regard the policy as if insurance had never been issued and return all your premiums if you return them within thirty (30) days of receiving them.

 

The Replacement Policy

If you are replacing an existing health insurance plan, wait to cancel the old one until you have your new coverage in hand and are certain you want to keep it.

 

Honest & Comprehensive Information is a MUST

Be sure to provide accurate information about your medical and health history when completing the application for the new policy. If you omit or falsify important medical information, they may cancel your policy and refuse to pay any claims. Before signing the application, give it a thorough review. Verify that all data has been accurately recorded. To err on the side of caution, you can seek expert help from us every step of the way. 

 

Renewability

This policy will always be applicable for renewal as long as you pay for your premium.  

 

Medicare Advantage Plans from Loyal America Life Insurance

Cigna offers Medicare Advantage Plans all around the country. However, The Loyal American Life Insurance Company does not. As a part of their benefits package, Cigna Medicare Advantage Plans include both medical and prescription drug coverage. These plans also feature a network of medical facilities and practitioners who collaborate to offer coverage at an affordable price.

 

Medicare Prescription Drug Benefits and Plans from Loyal American Life Insurance

The Loyal American Life Insurance Company doesn’t provide stand-alone prescription drug coverage. However, if you want assistance paying for your prescription drug, you can choose to join one of Cigna’s distinct Medicare Advantage Plan choices.

 

Medicare Nationwide’s Opinion

Loyal American is a subsidiary that is backed by a strong carrier in Cigna. It is important to see recent rate increases where the Medicare recipient lives to determine rate stability. As independent brokers, we encourage consumers to see the rates of all the major carriers in their area. The coverage is the same for Medicare supplement plans, but the rates can vary dramatically. We recommend basing your decision on Loyal American based on historical rates that we can provide you.

We love connecting people with the right insurance plans. Learn more about the Loyal American Supplement Insurance Plans by connecting directly with one of our trusted agents.

Contact us today!

Prefer to chat by phone? Give us a call at 1-888-559-0103.

Loyal

Rate stability
Competitive rates
Financial Stability
Coverage Area

Overall Rating
3 / 5 stars

Our TakeLoyal American is an A rated carrier by A.M. Best as of 2022. They have had recent rate increases that is concerning to us. Medicare Supplement plans rates vary greatly by demographics, we recommend looking at rate stability in each locality before we can confidently recommend this carrier to the consumer.

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