The Atlantic Coast Life Insurance Company was founded in 1925. The company grew in the Southeast by starting with a network of individual agents and working through funeral homes. Today, the company has over 34 state licenses. ACL provides families nationwide with Annuity Products, Life Insurance, and Medicare Supplement Policies.
Atlantic Coast Life Insurance Company (ACL) invests company assets into bonds, stocks, real estate, and U.S Treasury notes, among other ventures.
Atlantic Coast Life Supplemental Medicare Plans
When investigating your Medicare options, you learn that there are a few choices. Supplemental Medicare plans help to offset your share of the health care costs when using your health insurance.
Once issued, Medigap plans are guaranteed renewable each month. You will save money in premiums by enrolling during your open enrollment period.
You can select one option to stay on Original Medicare, add a Medigap, and Part D Prescription drug plan. This choice would provide the most robust coverage.
The other choice is to enroll in a Medicare Advantage plan. These plans will give you another way to receive your Medicare benefits. They roll your Medicare into an all-in-one plan.
We’ll review The Atlantic Coast Life Insurance Company’s Medicare Supplement plans and then explain how Medicare Advantage plans work.
Next, we’ll discuss Medicare Part D and Atlantic Coast Life Insurance Company’s financial strength. We’ll wrap up with some frequent questions and explain how to get help with Supplemental Medicare plans through Atlantic Coast Life Insurance Company.
Atlantic Coast Life Medicare Supplement Plans
It doesn’t get better than a Medicare Supplement insurance plan for complete coverage. These types of programs work as secondary coverage to your Original Medicare. Medicare Supplement plans are called Medigap plans because they cover the gaps in your cost share. They help pay your cost share for the services received under Medicare Part A and Medicare Part B.
These Medigap health care plans help cover medical services such as the Medicare Part A deductible, Part B coinsurance, and Part B excess charges. Since these plans are secondary to the federal government’s Medicare plan, you retain the ability to use the program for any healthcare provider nationwide that accepts Medicare.
Additionally, there’s no need to get a referral to see specialists. This freedom to choose their healthcare providers makes Medigap plans very appealing for people enrolled in Medicare.
Atlantic Coast Medicare Supplement Options
Medigap plans come in ten different plan letters from which to choose. The Atlantic Coast Life offers five Medicare Supplement plans.
Plan F has been a favorite of Medicare beneficiaries for several years. No wonder the plan picks up 100% of the cost-share you would be required to pay. Simply pay your Plan F premium and pay nothing when you use health care services covered under Medicare Part A or Medicare Part B. Medigap Plan F isn’t an option for people new to Medicare.
Plan C is not as popular. It’s surprising considering Plan C is identical to Plan F, except it doesn’t pick up excess charges. Plan C is only available for those eligible for Medicare before January 1, 2020.
Medicare Supplement Plan G is the most popular plan for Medicare beneficiaries that are just starting Medicare. This plan will offer almost the same level of coverage as Plan F. The only difference is you pay the small annual Part B deductible.
Plan N has been gaining attention as a top choice among Medicare Supplement plans. This plan offers the best bang for your buck! The coverage for Plan N is similar to that of Medigap Plan G. The main difference is the small copays for office visits and the emergency room.
Plan A is the most basic option. It covers the 20% coinsurance left over by Original Medicare and not much else. Don’t be fooled into thinking it’s the cheapest cost of the Medigap policies. That’s not always the case.
Atlantic Coast Life Medicare Advantage Plans
Medicare Part C plans are required to include the same benefits as Original Medicare. Most Medicare Advantage plans will incorporate Medicare prescription drug coverage and plan extras that Orignal Medicare doesn’t cover.
These programs usually consist of either a PPO or HMO network.
The plan extras included in Medicare Advantage plans will vary depending on where you live and the policy you select. Some of the incentives could consist of:
- Over-the-counter benefits
- Gym membership
- Food card allowance
- Utility assistance program
Atlantic Coast Life Insurance doesn’t include Medicare Advantage plans in its portfolio. If this type of coverage sounds interesting, let us know! Our licensed insurance agents can help in finding a Medicare Advantage plan that fits your individual needs.
Atlantic Coast Life Medicare Part D
Medicare Part D is Medicare’s standalone coverage for prescription drugs filled at your pharmacy.
Private health insurance companies administer Part D and Medicare Advantage plans. These insurance companies set their plans’ rules, terms, and conditions.
The Centers for Medicare and Medicaid Services regulate Medicare Advantage plans and Medicare Part D programs.
The Atlantic Coast Life Insurance Company doesn’t offer Part D plans. If you need standalone drug coverage, we can help you.
Atlantic Coast Life Insurance Medicare Pros and Cons
- Swift claims processing
- Excellent customer service
- Plan offerings include the top 3 Medigap plans
- Only provides access to Medicare Supplement Medicare plans
- Not available in all US States
- Only offer Medigap policies
Financial Strength Ratings
Several independent organizations set the standard for rating insurance companies’ financial strength. Observing a company’s financial strength provides a window to how they conduct their business.
Higher financial strength ratings indicate how companies perform in a few areas.
- More competitive rates
- Faster claims processing
- Conservative rate increases
The Atlantic Coast Life Insurance Company has received a “B++ rating.”
The Atlantic Coast Life Insurance company has provided trustworthy claims service to families for over 100 years. Their Medigap plans offer fast underwriting and approval and household discounts when two or more reside in the same household.
Can you still enroll in an Atlantic Coast Life Medicare Supplement?
Unfortunately in February of 2023, Atlantic Coast Life announced they will no longer sell Medicare Supplement plans. If you’re currently enrolled with a Medigap plan though them, you can keep your plan and they will service it.
What basic benefits fall under Original Medicare Part A coverage?
Medicare Part A includes coverage for inpatient hospital services, health services received while an inpatient, skilled nursing facility, and hospice care.
What benefits fall under Original Medicare Part B coverage?
Medicare Part B covers physicians, outpatient, home health, and supplies such as durable medical equipment.
What is Medigap Insurance?
Medigap insurance is another name for Medicare Supplement policies. They’ll pick up the remaining costs once Original Medicare pays their portion of your Part A and Part B benefits.
How much does Medigap Insurance cost?
The federal government regulates the benefits. This means the benefits are the same for each letter, regardless of state. The only thing that can vary by the company you choose and the monthly premium.
It’s beneficial to work with a licensed agent that can help by comparing the rates with all the carriers in your area.
How to Enroll in an Atlantic Coast Life Medicare Plan
When you receive your letter from the US government and the social security office advising of your eligibility for Original Medicare, it’s information overload. Enrolling in your supplemental Medicare health insurance plan is a big deal. The information can be challenging to navigate without skilled assistance to help with your assessments.
Our licensed insurance agents can help you understand your options to make an educated decision on your Medicare coverage. Call toll-free at the phone number provided or fill out our online request form for assistance.