American Benefit Life Insurance Company is a part of the Liberty Bankers Insurance Group. Headquartered in Dallas, Texas, ABLIC started offering new Medicare Supplements in August of 2021. American Benefit Life was established in 1909 and was the first chartered company in Oklahoma to sell life insurance.

We’ll cover all the details regarding Supplemental Medicare plans, including the different types. Then we’ll go over the financial prowess of the company. Finally, We’ll answer a couple of common questions and explain how to get help with a supplemental Medicare plan with American Benefits Life and Liberty Bankers.

American Benefit Life Supplemental Medicare Plans

As you approach Medicare, you start receiving a ton of information, which can cause an overload. All the letters and directions can make things a bit confusing as well. It’s important to know you’re not the only one that feels that way, and there is help.

Medicare does have out-of-pocket costs associated with using your healthcare coverage. When you are on a fixed income, it can be a bit daunting to figure out how to pay these costs. You can choose a supplemental Medicare plan to help offset some of these potential expenses.

When you start Medicare, you learn some additional costs for using the Original Medicare health insurance. To help cover those costs, you can enroll in a supplemental Medicare plan. These plans will take you down one of two directions.

One option is a Medicare Supplement plan and a Part D drug plan.

The other is to choose a Medicare Advantage plan. There is no right or wrong direction, as it’s all based on your individual needs.

American Benefit Life Medicare Supplement Plans

If you’re of the mindset that you want as little financial risk as possible, a Medicare Supplement insurance plan may be what’s best for you. These plans have a higher monthly cost than a Medicare Advantage plan.

However, you will pay little or nothing when you use medical services. These plans help cover the out-of-pocket costs left to you from your Original Medicare.

There are ten plan letters to choose from with varying levels of coverage. A Medicare Supplement will cover anything covered under Medicare Part A or Medicare Part B.

American Benefit life offers Medicare Supplement Plan A, Plan B, Plan G, Plan N, and Plan F. Medigap policy helps cover the expenses of healthcare services such like:

Medicare Supplement insurance policies are required to offer the same coverage for medical costs regardless of the insurance company. Since they’re secondary to Medicare, you can use any healthcare provider throughout the US. The only requirement is that the provider participates in Medicare.

These policies are regulated by the Centers for Medicare & Medicaid Services. They are guaranteed renewable as long as you’re paying your monthly premium.

American Benefit Life Medicare Advantage Plans

Medicare Advantage plans will essentially combine your Medicare benefits into one plan. These plans usually include drug coverage and benefits not covered under Original Medicare. These plans are often called Medicare Part C.

American Benefit Life Medicare Part D

Drug coverage is a necessary part of your ongoing healthcare. Medicare Prescription Drug coverage can be obtained through Medicare Part C or Medicare Part D. Part D is usually added to Original Medicare and Medicare Supplement medical insurance plans.

American Benefit Life doesn’t provide Medicare Part C or Medicare Part D plans. Call or fill out the request form if you want more information regarding these plan styles.

American Benefit Life Medicare Pros and Cons

Pros

  • Backed by Bankers Life
  • Competitive Medigap premiums
  • Light underwriting

Cons

  • Only offers Medicare Supplement plans
  • Rate increases can be on the high side
  • Only available in select states

Financial Strength Ratings

Bankers life and the entire Liberty Bankers Insurance group are strong companies. American Benefit life maintains a rating of B++ from AM Best.

Reviews

Liberty Bankers Insurance Group purchased American Benefit Life Insurance Company back in 2002. They have a relatively strong financial rating and are pretty new to Medicare Supplement Insurance. Having Liberty Bankers’ backing will help ensure that anyone enrolling in an ABLIC Medigap plan will be in great hands.

FAQs

Is American Benefit Life the same company as Liberty Bankers?

American Benefit Life and Liberty Bankers are the Liberty Bankers Insurance Group members. The group purchased ABLIC in 2002.

What type of insurance is American Benefit Life?

ABLIC sells Life and Medicare insurance products. They are new to Medicare health plans, with their supplement products beginning in mid-2021.

What are the benefits of American Benefit Lifesupplemental Medicare plans?

Medicare Supplement insurance coverage helps cover the health care costs left over by the Federal Medicare program.

How to Enroll in an American Benefit LifeMedicare Plan

We can help determine which supplemental Medicare path is best for your needs. Our licensed insurance agents can go over your needs and wants, then help provide you with options that match. For assistance, give us a quick call or fill out the online request form.

Written By:
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Lindsay Malzone, Lindsay Malzone is the Medicare editor for Medigap.com. She's been contributing to many well-known publications since 2017. Her passion is educating Medicare beneficiaries on all their supplemental Medicare options so they can make an informed decision on their healthcare coverage.
Reviewed By:
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Rodolfo Marrero, Rodolfo Marrero is one of the co-founders at Medigap.com. He has been helping consumers find the right coverage since the site was founded in 2013. Rodolfo is a licensed insurance agent that works hand-in-hand with the team to ensure the accuracy of the content.