Our Mission is to Become America’s Most Respected
Medicare Insurance Brokerage …
Treating clients as if they were our own family members
Treating clients as if they were our own family members
Medico Insurance Company is one of the oldest insurers in the United States. It was established in 1930 and started offering products for senior citizens in 1959. On top of Medico Medicare Supplements, the company offers whole insurance, vision, hearing, and dental insurance, and recovery and cancer insurance. In May 2018, A.M. Best gave Medico companies (including Medico Corp Life Insurance and Medico Life and Health Insurance) a rating of A- (Excellent) and upgraded the rating of its newly acquired firm, Great Western Insurance, from B++ to A-, as well.
Medico offers majority of the standardized Medicare Supplement (Medigap) plans, across its branches in the U.S. However, not all states carry the same range of products. For instance, while Medico Life Insurance and Medico Life and Health Insurance provide Medigap plans everywhere, the latter does not offer them in Texas. The states of Minnesota, Massachusetts, and Wisconsin also have their own Medigap policies and are exempted from the nationwide standardization.
Take note that all Medigap plans have the same benefits regardless of the private insurance agency you sign up with, but the cost will vary. Some insurers charge a bit higher than the others because of certain add-on policies or if they offer special services and accommodations for their policyholders. Be sure to shop around and compare plans first before settling with an agency to make sure you get the most optimal benefits.
Another factor that you should consider before enrolling in any Medigap plan is that hearing, vision, dental, private-duty nursing and long-term care are usually excluded. You will have to apply for additional coverage from your private insurer if you want these in your healthcare plan. Should you want coverage for your prescription drugs, as well, you will need to sign up for Medicare Part D because they are not included in any Medigap policy.
Those who subscribe to any of Medico’s Medicare Supplement programs are entitled to certain benefits that are not offered by other insurance providers. These include:
– The freedom to select any hospital or doctor that accepts Medicare
– A free cancellation and 30-day money-back guarantee if you not happy with your policy
– Discounted premiums if you sign up for an auto debit program from your savings or checking account
– Discounts in certain states if you live with somebody who is older than 18 years’ old
– Coverage for domestic and international travel
– No waiting period, even with a pre-existing condition
– A special rate if you are a tobacco user (It will not be a deciding factor if you enter during the guaranteed issue or open enrollment period)
The purpose of a Medicare Supplement is to fill the “gaps” that the Original Medicare does not cover and is intended to help U.S. citizens transition well into their twilight years. The decision as to which type of policy you should sign up for will depend on your current and projected health status, lifestyle, and source of funds.
If your retirement money has been set aside for your leisure and travels and you are in a generally good state of health, you can choose the plans that have lower coverage and lower premiums. However, if you have pre-existing medical conditions and have some money saved up, it is advised that you avail the more comprehensive Medico Medigap policies to ensure your health and peace of mind.
Remember that during the Open Enrollment period, you can choose to enrol in any Medigap plan regardless of your state of health and insurers are required to approve your application regardless. Take advantage of this period and talk to a qualified advisor before this time arrives.