Speak with an experienced advisor! When you turn 65, one of the many advantages is enrolling in Medicare for your health insurance coverage. Medicare is divided into several different “parts” - including Part A for hospitalization coverage, and Part B for doctors’ services. These two parts of Medicare are considered to be “Original Medicare.” That is because they were in existence before Medicare Part C (Medicare Advantage) and Medicare Part D (prescription drug coverage).
Although you may be able to have some your health care needs taken care of by Original Medicare regarding cost, this program can also leave you with being responsible for a lot of out-of-pocket expenses, such as deductibles, coinsurance, and copayments. Because of that, many people who are enrolled in Medicare Parts A and B will also have a Medicare Supplement insurance plan.
These plans can help Medicare enrollees to either reduce - or in some cases, even eliminate - these out-of-pocket expenses - and because it helps to fill in these coverage gaps, Medicare Supplement insurance is often also referred to as Medigap.
You will find that all ten of the available plans are required to offer the same benefits, regardless of from where the plan is purchased. The premium price, however, can differ from one insurer to another - sometimes quite significantly. With that in mind, it is always important to shop and compare the Medicare Supplement insurance plans from several different insurance carriers before making your purchase. One insurance carrier that has a well-respected name in the Medicare Supplement insurance niche is CIGNA.
The History of Cigna Company
Cigna traces its original roots back more than 200 years. However, due in large part to mergers and acquisitions in the insurance industry, Cigna became the company that people know about today in 1982, due to the merger of INA Corporation with Connecticut General Corporation.
Cigna has grown into a prominent global health service company that is dedicated to helping people with improving their overall health, well-being, and sense of security. The company works together with its customers in helping them to lead a healthy and secure life. It also provides its customers with personally relevant products and services. In addition, Cigna helps its customers to choose quality health care and to achieve optimal health outcomes.
Cigna Company Review
Today, Cigna is a large and well-respected provider of insurance protection, as well as other wealth protection products. The company has sales capacity in 30 countries and jurisdictions, and more than 90 million customer relationships throughout the world.
The key mission of Cigna is to work with its customers in helping them to lead a secure and healthy life. It does so by providing its customers with personally relevant products and services - including assistance with the reduction of health costs, as well as assistance in achieving optional health-related outcomes.
Cigna is strong and stable from both a financial and a customer standpoint, having roughly $38 billion in revenues, and $12 billion in shareholder equity in 2015. The company is ranked as number 90 on the 2015 Fortune 500 list, having approximately $57 billion in total assets, and more than 39,000 employees around the globe. In 2015 and 2016, the company was recognized as a Top 100 company on CR Magazine’s list of Best Corporate Citizens.
The company also received the 2015 Department of Defense “Freedom Award” - which is the highest recognition given by the United States government to employers for their support of employees who serve in the Guard and Reserve.
Cigna also received the National Business Group on Health Innovation in Advancing Health Equity Award for its ongoing commitment to promoting health equity and reducing health care disparities in the workplace.
Likewise, Cigna was also recognized by the Corporate Equality Index as one of the best life insurance companies for promoting workplace equality for transgender employees, and it was named as the 2015 Corporation of the Year by World Affairs Council-Washington, DC, for best practices in global responsibility by a U.S. multi-national company.
The company has a vision of helping customers with health issues, as well as having a mission to provide community solutions. For example, in 2015, the Cigna Foundation renewed a grant to Community Solutions to make it possible for Community Solutions to organize, track the progress of, and to accelerate proven strategies of a Community Health Worker pilot to improve the well-being of at least 500 chronically ill residents. This pilot program is a unique collaboration between Cigna, Community Solutions, St. Francis Hospital, the State of Connecticut, and Harriott Home Health Care, a small local business.
Cigna also has a commitment to help those who have disabilities. For example, the Cigna Foundation is a long-time supporter of Achilles International, which was founded in the early 1980s with the purpose of supporting the achievements of people with disabilities. Via the Achilles International programs, Cigna volunteers join runners with disabilities in an environment of support and community.
Cigna Company Insurer Ratings and BBB Grade
Connecticut General Life Insurance Company and Cigna Health and Life Insurance Company have very high financial related ratings. These include the following:
- AA- from Standard & Poor’s
- A+ from Fitch
- A from A.M. Best Company
- A1 from Moody’s Investor Services
In addition, while Cigna is not an accredited business through the Better Business Bureau (BBB), they have closed a total of 427 customer complaints through the BBB throughout the past three years. A total of 149 of these complaints were closed in the past 12 months.
Of the 427 customer complaints, 296 had to do with problems with the company’s product and / or service, while 102 had to do with the company’s billing and / or collection issues. Another 14 dealt with advertising and / or sales issues, and still another 14 were regarding delivery issues. The remaining complaint was in regard to guarantee / warranty issues.
Which Medicare Supplement Insurance Plans Does Cigna Company Offer?
Cigna offers a variety of Medicare Supplement insurance plan options to choose from. Because of that, its customers can opt for more basic benefits or a more comprehensive selection of coverages. These include the following:
Medicare Supplement Plan A
Medicare Supplement Plan A is considered to be the most basic set of core benefits. Any company that offers Medicare Supplement insurance coverage is required to offer Plan A as part of their plan options. In addition, the other Medicare Supplement insurance plans must also offer at least this set of core benefits, along with any other coverage that it provides.
With Plan A, the following options are covered:
- Medicare Part A coinsurance and hospital costs, up to an additional 365 days after Medicare benefits are used up
- Medicare Part B coinsurance or copayment
- First three pints of blood per year
- Medicare Part A hospice care coinsurance or copayment
Medicare Supplement Plan F
For those who want a more comprehensive list of benefits, Medigap Plan F is also available via Cigna. This plan provides the following coverage:
- Medicare Part A coinsurance and hospital costs, up to an additional 365 days after Medicare benefits are used up
- Medicare Part B coinsurance or copayment
- First three pints of blood per year
- Medicare Part A hospice care coinsurance or copayment
- Skilled nursing facility care coinsurance
- Medicare Part A deductible
- Medicare Part B deductible
- Medicare Part B excess charge
- Foreign travel exchange - up to the plan’s limits
There is also an alternate high deductible Medicare Supplement Plan F that is available. With this plan, the enrollee is required to pay for Medicare-covered costs, up to the deductible , which is $2,240 in 2018, before the plan will start to pay out.
Medicare Supplement Plan G
- Medicare Part A coinsurance and hospital costs, up to an additional 365 days after Medicare benefits are used up
- Medicare Part B coinsurance or copayment
- First three pints of blood per year
- Medicare Part A hospice care coinsurance or copayment
- Skilled nursing facility coinsurance
- Medicare Part A deductible
- Medicare Part B excess charge
Medicare Supplement Plan N
- Medicare Part A coinsurance and hospital costs, up to an additional 365 days after Medicare benefits are used up
- Medicare Part B coinsurance or copayment
- First three pints of blood per year
- Medicare Part A hospice care coinsurance or copayment
- Skilled nursing facility care coinsurance
- Medicare Part A deductible
- Foreign travel exchange - up to the plan’s limits
For those who reside in the states of Massachusetts, Minnesota, or Wisconsin, the Medigap plans are structured somewhat differently than they are in other states.
Each Medigap policy of the same corresponding letter is required to offer the very same benefits - other than in the three states noted above - the premium that is charged by each of the offering insurance carriers can often differ, and in some cases, it could be by quite a bit. For that reason, it is important to shop and compare different Medicare Supplement insurance plans from various insurers prior to moving forward with a purchase.
Where is Cigna Company’s Medicare Supplement Insurance Coverage Sold?
Medicare Supplement insurance is available through Cigna in more than 30 states, as well as in the District of Columbia. These states include: Alabama, Alaska, Arkansas, Colorado, Connecticut, Delaware, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Michigan, Mississippi, Missouri, New Jersey, New Medico, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Vermont, West Virginia, and Wyoming. (Although not all plans are available in all states).
Cigna also offers its Medicare Advantage plans in 15 states, and in the District of Columbia. The company offers Medicare Part D coverage pans in all 50 of the U.S. states, and in Washington, DC, and it provides its Medicaid plans in select markets in Illinois and in Texas.
Other Products and Services Offered By Cigna Company
In addition to Medicare Supplement insurance, Cigna also offers a long list of other insurance and protection products to its customers, such as:
- Group Disability Insurance
- Group Life Insurance
- Medicare Advantage (also known as Medicare Part C)
- Medicare prescription drug coverage (also known as Medicare Part D)
- Dental insurance
- Medicaid plans
In addition, Cigna’s global network includes more than one million relationships with healthcare professionals, clinics, and facilities, which include:
- 96,000 participating behavioral health care professionals and 12,500 facilities and clinics
- 70,000 contracted pharmacies
- 76,700 vision health care providers in more than 26,000 locations
- 140,000 Dental PPO professionals, and more than 20,000 Dental HMO professionals
How to Get the Best Premium Rates on Medicare Supplement Insurance Coverage
If you are seeking a Medicare Supplement insurance plan, call us. We partner with several of the best Medicare Supplement insurance carriers that are in the marketplace today, and we can assist you with obtaining all of the key details that you require. We can do so for you easily and fast - directly from your computer - and without you having to meet in person with an insurance agent. If you are ready to proceed, then just simply <Click Here>.
Should you find that you still have any additional questions about Medicare Supplement insurance coverage, please feel free to contact us directly. Our experts can be reached toll-free via phone by dialing 800-790-1049.
We know that finding the best Medicare Supplement insurance coverage for you can seem like a bit of a challenge. Before making a final decision, read some of our other company reviews, like Mutual of Omaha company review, just to name one.