The Continental Life Insurance Company is based in Brentwood Tennessee and is a wholly owned subsidiary company of Aetna, Inc as of 2006. They provide health and life insurance for many states and has been offering supplemental products since 1983.
Aetna Medigap insurance plans many of the states and may be sold under a subsidiary company as with American Continental or Continental Life insurance which are the same family of companies. Aetna which is a fanatically solid insurance company and has a rating of “A-Excellent” with the AM Best insurance rating organization.
For those seniors who find it difficult to manage their budget with all the healthcare expenses, choosing a Medicare supplement plan with Continental Life could help pay for the expenses not covered with your Original Medicare Part A and Medicare Part B.
Medicare supplements each have specific features for coverage. You may see any doctor who takes Medicare and your insurance coverage is guaranteed to be renewable. You also cannot be dropped from your insurance coverage for any health conditions. Plans are considered portable allowing you to be covered anywhere in the nation.
Medicare supplement insurance will help to cover costs where Original Medicare benefits stop. Plans will help with hospitals, outpatient copays, or coinsurance which is all part of the cost sharing under Medicare.
You need to remember when using any Medicare supplement; Medicare is your base insurance and if you make sure to pay both your Medicare and Continental Life Medicare supplement premiums your policy will stay in force regardless of what your current health status is.
Continental Life offers the different standardized Medicare options available. What is covered will depend on the type of plan you enroll in. Supplemental insurance might cover Medicare Part A hospital deductibles or co-insurance as well as your Medicare Part B outpatient deductibles and coinsurance.
Below is a quick overview of some Medigap plans offered by Continental Life:
Plan A supplemental insurance is known to be the most basic plan covering the most important gaps when using Medicare. These are the hospital coinsurance and hospital outpatient coinsurance. Basically, your Plan A will pay for your daily hospital copays when you have any inpatient stays lasting longer than a 60-day period. Additionally, Plan A will provide 365 days of healthcare coverage after your Medicare Part A hospital benefits have run out.
Medigap Plan B will cover the same items as Plan A covers plus your Part A hospital deductible. This will help when you have any inpatient stays. Cost sharing for skilled nursing is not covered with Medigap Plan A as well as your Part B deductible or Part B foreign travel emergencies and any Medicare Part B excess charges.
Plan F is considered one of the more complete Medigap plans on the market covering almost every gap found in Medicare Part A & Medicare Part B plans. With Plan F your out of pocket expenses are covered for any hospital and outpatient medical services. So, there are no deductibles or coinsurance that needs to be met while in the hospital to have surgery. Your doctor’s visits, ambulance rides, labwork, chemotherapy and more are also covered. Foreign travel emergency coverage for Plan F can be up to 50,000.
Plan F; commonly called first dollar coverage. This means the Aetna Plan F supplement pays for your share of the Medicare costs from the very first dollar. So there is no copay for doctor visits using your Medicare-covered services. This also covers hospital stays, durable medical equipment, surgeries, x-rays, lab work and other items.
Plan G Medigap plan is the section most popular plan in the nation covering the same items found in Plan F except for the Part B deductible. Going to your first outpatient visit for any calendar year you have to pay the Part B deductible which is out of pocket and then your plan will work the same as a Plan f for the remainder of the year.
Plan N first offered in 2022 is one of the newest Medigap plans offered today. With Plan N, often having lower premiums than Plan G because you will have to pay for additional copays for some of your medical services. Paying as much as $20 copays for doctor visits and as high as $50 for emergency room visits, any additional excess charges, and your Part B deductible must be paid by you.
Once your reach age 65 and applied for your Original Medicare Part A and Medicare Part B you are eligible to purchase a Medicare supplement plan. You then have the first 6 months after Part B has started, you can apply for any Medigap plan during this 6-month Open Enrollment Period. During this time, you cannot be denied for any coverage or charged a higher premium for current medical conditions during the Open Enrollment Period window. Once this period is over you lose guaranteed acceptance so make sure you shop during the OEP.