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Medicare Insurance Brokerage …

Everest Re Group has been operating since 1973, but back then it carried the name Prudential Reinsurance (under Prudential Financial). In 1995, the mother company decided to launch an initial public offering for Prudential Reinsurance, after which it was officially renamed to Everest Re (inspired by Mount Everest). It became part of the Standard & Poor’s 500 by 2017.

As of 2019, AM Best affirmed its financial strength rating of A+ (superior) and long-term issuer credit rating of “aa- “, including all its operating subsidiaries Everest International Reinsurance, Everest Reinsurance Company, and Everest Reinsurance Bermuda.

Everest Re describes itself as an insurance and reinsurance company. Reinsurance is protection that an insurance company purchases to limit its losses and reduce risk. This method is favorable as it also protects the insurance firm’s customers from potential uncovered losses IF it does happen.

As regards regular insurance policies, Everest Re offers a wide range of products, including crop, accident, property, worker’s compensation, and professional liability. It also provides casualty, specialty, and accident and health insurance. Medicare Supplements fall under the accident and health umbrella, alongside medical stop loss, managed care, short-term medical, and pro sports disability.

If you are 65 years old and are a member of both Medicare Part A and Part B, then you qualify to purchase any of the 10 Medicare Supplements (also called Medigap) standardized by the federal government. Medigap policies may also be availed by those who are under 65 years, but have a disability, though the rules governing this condition varies per state. Medicare Supplements are also not available to those who already have a Medicare Advantage plan.

The mix of Medigap plans offered by Everest Re varies according to the state where you plan to make your purchase. The majority of its states offer Plan A, Plan F, Plan G and Plan N. The price of the monthly premium can be slightly higher or lower depending on the state.

As a refresher, Medicare Supplement plans have the following inclusions. However, their level coverage will differ dependent on which plan letter is chosen:

– Medicare Part A coinsurance and hospital costs

– Medicare Part B coinsurance or copayment

– Part A hospice care copayment or coinsurance

– Part A deductible

– Part B deductible

– Blood (first three pints)

– Skilled nursing facility care coinsurance

– Part B excess charges, and

– Foreign travel emergency costs

As per Everest Re guidelines, the Medigap insurance policies will not pay for the following:

– any expense incurred while your policy is NOT in force,

– any type of expense that is not listed under Medicare, except if the policy provides it, and

– any expense that you are not legally required to pay (or services for which there is no charge in the absence of insurance).