Our team is proud to provide clients with Everest Reinsurance Medicare supplement plans. Call us at 800-208-4974 for a free quote today.
Company History and Background
Everest Reinsurance Company, or Everest Re for short, has been a pillar in the healthcare industry since 1973. Unlike other supplemental insurance companies, Everest Re refers to itself as a reinsurance company–with a wide range of insurance offerings and operating across multiple continents. Everest Re is housed under its parent company, Everest Re Group, Ltd. In addition, it is also part of the Everest National Insurance Company, Everest Security Insurance Company, and Everest Indemnity Insurance Company.
Everest Financial Successes
Everest Re is a leading company in the health insurance industry, specializing in broad underwriting council and expertise, global recognition and presence, both strong financial and health plan ratings. Everest Re’s financial ratings are substantial, with their year-end assets reaching more than $21 billion. For the 2016 year, Everest Re wrote approximately $6 billion in gross premiums, a 2% increase from the year prior.
Everest Re is ranked among the top ten reinsurance companies worldwide. There are several divisions of Everest Insurance Group including– Everest Insurance U.S, Everest Canada, Everest International Assurance, Lloyd’s of London Syndicate 2786, and Accident and Health where the company sells their Medicare Supplement insurance coverage.
Everest Medigap Plans
Everest Reinsurance has a positive reputation with their government-regulated Medicare Supplemental plans, or Medigap plans. Medicare Supplement plans provide a range of offerings to cover additional expenses not covered under Original Medicare or Medicare Advantage plans. Medicare supplement plans cover numerous out-of-pocket costs, and most will cover part of coinsurance and deductibles for inpatient stays (Part A) and doctor visits (Part B) under Original Medicare and Medicare Advantage.
Additional coverage is never a bad idea, Everest Re’s policies and plans will strengthen your existing coverage to provide more peace of mind without draining your bank account. Not all insurance companies plans and rates are the same, that is why it is recommended that enrollee’s research different companies and plans to find the plan that is best for them.
If you want to quickly compare some of these companies and plans, call us at 800-208-4974. We can provide quotes for ALL carriers and plans in your area.
It is recommended that if a beneficiary wants to enroll in a Medicare Supplemental plan, they need to inquire about switching or adding a plan during their Open Enrollment period–which occurs on the first day of the month that you turn 65. If you would like help signing up for Everest Medicare Supplement plans, contact an experienced insurance agent at 800-208-4974.
Yes, Everest Reinsurance offers Medigap Plan G. This is one of their most popular and affordable plans they have available for policy holders. With Plan G, beneficiaries can get coverage from the 20% that Original Medicare (Part A and Part B) does not cover.
Everest Medicare Supplement Plan G
Everest Reinsurance specializes in Plans F, G, and N. However, Plan G is their most sought-after plan. Plan G is known as a value plan, which means that after deductibles, Plan G provides full coverage for copays, coinsurance, the Part A hospital deductible, and the 20% that Part B does not cover. However, Plan G does not cover the annual Medicare Part B deductible of $240. Plan G also has been known to be a more stable plan when it comes to increased rates, plus it is one of the most comprehensive plans being offered in the insurance marketplace with $0 co-pays. Plan G is a standardized plan, meaning that no matter what the company you choose to supply your Medigap plan, the coverage will always be the same, but the pricing is not.
Learn more: Medigap Plan F vs G: What Plan To Choose?
Everest Medigap Plan F
Plan F and G are similar with the only difference is that Plan F does cover the Medicare Part B annual deductible of $240. Plan F also covers 100% of what is not covered; however, Plan F is still available to those who started Medicare before January 1st, 2020. Those who already have Plan F can keep their plan or even change to a Plan F with a different carrier for a lower premium. Contact us if you want to shop rates on your plan F!
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Everest Supplement Insurance Plan N
Another option for enrollees is Plan N, which is one step below Plan G. With Plan N, there are the following out-of-pocket costs:
- Up to $20 copay for each
- $240 annual deductible
- $50 copay for ER visits unless admitted for an inpatient stay
- Other Part B excess charges related to Doctor Medicare Assignments
It is important to note that all our Medicare supplement plans do not cover prescription drugs. Prescription drugs are only covered under Medicare Part D. If you are newly enrolled in Medicare, your potential Medigap insurer is not permitted to ask any questions regarding your health status. Your health status has no effect on premiums or approval for a Medigap plan. During your initial enrollment period, you are able to enroll in any Medigap plan.
Everest Medigap Plan Summary
If you are outside the initial enrollment period, you can change your plan but will have to undergo health insurance underwriting. Most supplemental plans will have the choice to either accept or decline your application for a Medigap policy. If accepted, 100% coverage will start on the requested day. You are also able to change your Medigap plan at any time throughout the year.
While Everest Re is just one company offering Medicare supplement plans, we encourage you to browse the insurance marketplace to find a plan that best suits you and your health needs.
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If you have any questions regarding Everest Reinsurance Medicare supplement plans or need help choosing a provider, contact us at 800-208-4974 for a free consultation!
Read More:
- New Era Life/ Philadelphia American Medicare Supplement
- State Farm Medigap Review
- Gerber Medigap Plans
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