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Philadelphia American Medicare Supplement

Philadelphia American Life is a subsidiary of Houston, Texas-based New Era Life and has sole responsibility for the insurance products and services they issue. New Era was founded in 1924, although the current management did not take over until 1989. Despite the change in leadership, the company has prided itself in being a reliable and stable financial management company that offers quality and affordable insurance products.

Medicare Supplements (also called Medigap) are part of its extensive suite of offerings. Other related products include Medicare Prescription Drug plans, Senior Dental, Senior Hearing, and Senior Vision plans.

Philadelphia American Medicare Supplements

Like its parent company, Philadelphia American provides some of the 10 standardized Medigap insurance plans. Note that all Medicare Supplements allow policyholders to select their own healthcare provider and are not limited to a pre-approved list. All Medigap products are created and certified by the U.S. Department of Health and Human Services so you can be sure that you are getting exactly the same policy. This is because almost all doctors and facilities already accept Original Medicare. All plans, regardless of the tier, also cover 100% Medicare Part A coinsurance (hospital) and Part B coinsurance or copayment (medical insurance).

Meanwhile, there are Medigap benefits that vary in coverage depending on the type of Plan your sign up for. These are:

– Medicare Part A deductible

– Medicare Part B deductible

– Extra days not covered by Original Medicare

– Preventive care not covered by Original Medicare

– Blood (First 3 pints)

– Services in a skilled nursing facility

– Foreign travel health care services

Applying for a Philadelphia American Medicare Supplement

Before signing up for any of the Medigap plans offered by Philadelphia American Medicare Supplement, you should already be enrolled in Original Medicare Part A and Part B. Take note that Medigap covers one person only and is not transferrable between spouses. Separate policies must be purchased. The monthly premium paid for Medigap (to Philadelphia American) is also separate from the monthly fees you pay for your Medicare Part B (to Medicare).

The ideal time to purchase any Philadelphia American Medicare Supplement, or any Medicare Supplement for that matter, is on the month that you turn 65 years old and six months thereafter. This is called the Open Enrollment period. For instance, if you turn 65 years old in February 10, your Open Enrollment window begins February 1 and ends August 1.

If you let this window lapse, insurance providers can decide to reject your application or charge you a higher premium fee. However, if you do make it to the Open Enrollment period, insurers are required to approve your application even if you have a pre-existing health condition that might otherwise disqualify you.

Also take note that if you do not have Original Medicare Part B yet, perhaps because you are currently employed and have an HMO coverage or are using your spouse’s, the Open Enrollment period will not take effect until after you signed up for Medicare Part B. Talk to a Medigap advisor to see which Philadelphia American Medicare Supplement is best for you.

Our Mission is to Become America’s Most Respected Medicare Insurance Brokerage …

Philadelphia American Medicare Supplement

Philadelphia American Medicare Supplements

Applying for a Philadelphia American Medicare Supplement

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Our Mission is to Become America’s Most Respected
Medicare Insurance Brokerage …