Let’s talk about United American Insurance Company’s Plan G Medicare supplement. United American is one of the many companies we represent, and Plan G is the most popular Medicare Supplement plan options. They are a highly competitive company in the states of NY and FL.
In this article, we will give you a brief introduction to United American, detail the coverages inside of Plan G, and discuss specific benefits that the United American product offers.
United American Information
United American Insurance Company was founded in 1947 in Dallas, TX, by C.L. Dunlap. In 1982, the company was purchased by the Torchmark Corporation. Torchmark is more commonly known by their marketing name Globe Life, and officially changed the corporate name in 2019.
As of 1996, the company had 500 employees and relocated outside of Dallas to McKinney, TX. Globe Life eventually moved their corporate headquarters from Birmingham, AL to McKinney.
United American earns consistently high rankings from financial ratings organizations.
AM Best rated them as A which is an “Excellent rating.”
Standard and Poors rated them as AA- which equates to “Very Strong”.
Their Medicare Supplement products are distributed through independent agents and brokers. They are licensed in 49 states and D.C. In the state of New York, United sells policies through First United American Life Insurance Company.
The only Medicare product that United American sells is the Medicare Supplement product. They have been offering this product since Medicare was established by the Federal Government.
Outside of Plan G, United American also offers plans A, B, C, D, F, High Deductible F, K, L, & N. They also offer various life and health products such as Cancer Critical Illness and Children’s Life policies.
Medicare Supplement Insurance: Plan G Basic Benefits
Plan G has recently become one of the most comprehensive and popular supplement plans, giving recipients plenty of coverage that Medicare itself does not cover. The benefits are all provided affordably as well.
Recipients of Plan G will receive coverage for:
- Medicare Part A coinsurance and hospital costs for an extra 365 days
- Part B copays or coinsurance
- Part A hospice copay or coinsurance
- Skilled nursing care
- Part A deductible
- Part B excess charges
- Finally, 80% of foreign emergency costs
The only main benefit missing from this list is the Part B deductible.
How Does Plan G compare to Plan F
These plans are pretty similar, but many may be asking what Plan F has that Plan G doesn’t? There is only a one benefit difference between the two plans, and it is the Part B deductible. Plan F does cover this while Plan G does not cover Medicare’s Part B deductible.
Plan F is only available to those who are Medicare eligible and born prior to January 1st, 1955, while Plan F is only available to those who were eligible before this date they find that comparing it to the Plan G can be a major cost saver.
Why Plan G is the Plan with the Most Value
For a while, Plan F has been the most popular Medicare Supplement plan on the market. This was mostly because it was the most comprehensive. All of these benefits were great, but recipients were paying more than any other plan.
Plan G provides almost the same amount of benefits for a lower price point. Recipients are getting nearly the same coverage they would under Plan F, just cheaper.
You will have to pay the Part B deductible under Plan G. In 2021, the Part B Deductible is $203. When you compare both plans, if you can save over $200 in annual premium by choosing G over F, you cover the deductible costs.
Is there a High Deductible Plan G?
Until recently, there has not been a high deductible option for Plan G. This changed on January 1st, 2020 with the addition of a high deductible option of the Plan G. United American is a leader in premium price fir the High Deductible Plan F and G in many states.
Some may be wondering, what exactly does a high deductible plan entail? A high deductible plan is a plan that requires recipients hit a certain deductible limit before Medicare costs are covered by the supplement plan. This amount was $2,370 for 2021. This option, while requiring a high deductible, offers lower premiums for those that this would benefit.
United American does offer the High Deductible Plan G option. If you are interested in a High Deductible Plan, we can shop among other carriers that offer that option.
Benefits of United American’s Plan G
United American has been offering affordable Medicare supplement insurance for years, and Plan G is no exception.
Some of the benefits you can find in United American plans:
- 30-day free-look policy – this allows you to cancel for any reason with a full refund.
- Guaranteed renewable plans – if you develop medical conditions while covered by United American, you can not be cancelled by the company.
- Every plan is portable – United American cover you nationwide. If you move states, your policy travels with you
- You can use any doctor that participates in Original Medicare – over 800,000 providers
United American offers online tools and live customer service help to assist with claims, billing, and policy questions.
For several years, United American’s rate changes have been very stable as far as rate increase history. This can vary by your state, but they have been competitive to many other companies.
United American Plan G Summary
United American is a financially strong company with a good track record of experience in the Medicare industry. They have been with working Medicare since the start of Medicare.
Like every company we represent, United American will be quoted when we review your coverages. If their benefits and rates fit your needs, we can discuss the company as one of the options for you to choose.
Make sure to discuss your current needs and health history. Understanding those elements can help us tailor the right policy for your situation.
With years of experience within the Medicare industry we can compare multiple companies and plans.