Many are not familiar with New Era Life Insurance Company. However, New Era has been around since 1924. They received new management in 1989, and since this time, they have hit the Medicare supplement market with a bang. Now, a New Era Medicare supplemental plan might be one of your best options.
New Era Medicare Supplemental Plans
New Era offers all ten Medicare supplemental plans. If you are not familiar with the plans, each one covers different portions of the gaps left by traditional Medicare insurance coverage. Click here for a more in depth explanation of each Medicare supplemental plan.
Concerns About Purchasing a New Era Medicare Supplement
Anyone who purchases insurance wants a good deal. They also do not want to have the hassle of dealing with an insurance company. For this reason, we tend to get some push back from people when we recommend a New Era Medicare supplement. The apprehensions come from the lack of name recognition and their A.M. Best rating.
New Era’s A.M. Best rating is B+. This concerns people because they see companies like AARP and Mutual of Omaha getting A ratings. New Era gets a B+ rating because they are a smaller company. They are still a very financially fit company. However, if New Era were to go out of business, and you had a New Era Medicare supplement, you would enter a new open enrollment period where you could get a Medicare supplemental plan from another company. You would not have to go through medical underwriting. This means your age and location are the only factors that determine your monthly premium. Your current health is not a factor.
New Era Compared to Other Medicare Supplemental Companies
As mentioned, AARP and Mutual of Omaha have A ratings from A.M. Best, but there are many other Medicare supplemental insurance companies.
Thankfully, no matter which company you choose, you get the same coverage for the same Medicare supplemental plan. For example, a New Era Medicare supplemental Plan F is the same as a Plan F from Gerber or Mutual of Omaha. Each of the plans also works directly with your Medicare coverage. This means your interaction with any of the companies is minimal. The main difference is going to be the price.
If you would more research, we have info on some Medicare supplemental insurance companies here. If you are ready to take the next step, you can obtain a set of free custom Medicare supplement quotes here or by filling out the form on the side of this page.