Speak with an experienced advisor! It is a well-known fact that health care is the largest part of a seniors’ budget. As we get older, we tend to require more assistance, whether it be through doctor visits, required medical equipment, or even through hospital stays for various reasons.
If you don’t like the idea of being responsible for these bills, there is a simple solution, a Medigap plan.
Medigap plans are sold like any other insurance plan. There are ten options A through N.
When searching picking a plan, you need a company who has a history of being financially sound. You also want a company who hasn’t had problems with not making timely payments for their clients.
To help you out, we are reviewing a lot of the companies out there. One common choice is Central States Indemnity.
The History of Central States Indemnity Company of Omaha
The parent company of Central States Indemnity, which is Central States Health and Life Company of Omaha, was initially founded back in 1932. Later, in 1977, CSI was established, primarily for the purpose of offering involuntary unemployment insurance, as well as other types of casualty products.
The overall mission of the company is, and always has been, “to simplify and insure the financial obligations of our clients.” Central States Indemnity of Omaha is headquartered in Omaha, Nebraska.
Today, Central States Indemnity is a Berkshire Hathaway Insurance company. The company was acquired in 1992 by Warren Buffett’s firm. As a subsidiary of Berkshire Hathaway, Central States has an even stronger financial foundation.
Berkshire Hathaway is one of the largest companies in the United States. It has consistently ranked among the top ten on both the Fortune 500 list of U.S. companies, and the Forbes 2000 list of global public companies. In addition, it is also in the top ten in Fortune magazine’s rankings of the World’s Most Admired Companies.
Central States Indemnity Company of Omaha Review
Central States Indemnity Company is committed to the Midwestern work ethic, meaning that the company does not take commitments lightly. With that in mind, the company keeps its promises to its policy holders and their loved ones.
Ever since the companies’ beginnings, Central States Indemnity Company of Omaha (CSI) and CSI Life Insurance Company have insured millions of their customers with their specialty life and disability coverage, as well as its Medicare Supplement insurance protection.
Central States Indemnity Company of Omaha is also highly committed to workplace health and wellness. In 1982, the first Wellness Council in Omaha was founded, which eventually led to the formation of Wellness Council of America, or WELCOA. Today, WELCOA is one of the most respected resources for workplace wellness, and it has membership that exceeds 3,200 companies.
Third Party Ratings
Central States Indemnity Company of Omaha has gotten excellent ratings form all of the third parties out there. From Standard & Poor’s, they have an AA, from A.m. Best, they’ve gotten an A+ rating, and from Berkshire Hathaway, they have another A+.
In addition, they also have accreditation from the BBB, plus an A+ rating. The BBB is the leading source of third-party reviews.
Medicare Supplement Insurance Offered By Central States Indemnity Company of Omaha
Central States Indemnity Company of Omaha is a highly respected company in the Medicare Supplement insurance arena. They sell all ten of the Medigap plans - so customers have a wide range of options to chose from.
With Medicare Supplement Plan A, you’ll get:
- Medicare Part A coinsurance and hospital cost - up to an additional 365 days after Medicare benefits have been used up
- Medicare Part B copayment or coinsurance
- Blood - the first three pints that may be required each year
- Medicare Part A hospice care coinsurance or copayment
For a much more comprehensive Medicare Supplement offering, Plan F is considered to be the most comprehensive. This plan provides:
- Medicare Part A hospital copayment for days 61 through 150, as well as an additional 365 lifetime days once the enrollee’s lifetime reserve days end.
- The first three pints of blood needed each year
- Part A hospice copayment and / or coinsurance
- Medicare Part B copayment or coinsurance
- Medicare Part A deductible
- Skilled nursing facility copayment (Days 21 through 100)
- Medicare Part A deductible
- Medicare Part B deductible
- Medicare Part B excess charges
- Foreign Travel Emergency coverage
Also in working to keep the cost of a Supplement policy rates down, it is possible to choose a plan option that offers a wide array of benefits, but at a certain percentage. For instance, with Medicare Supplement Plan K, the following benefits are offered:
- Medicare Part A hospital copayment for days 61 through 150, as well as an additional 365 lifetime days once the enrollee’s lifetime reserve days end.
- The first three pints of blood needed each year at 50 percent
- Part A hospice copayment and / or coinsurance at 50 percent
- Medicare Part B copayment or coinsurance at 50 percent
- Medicare Part A deductible at 50 percent
- Skilled nursing facility copayment (Days 21 through 100) at 50 percent
In a similar fashion, Plan L offers:
- Medicare Part A hospital copayment for days 61 through 150, as well as an additional 365 lifetime days once the enrollee’s lifetime reserve days end.
- The first three pints of blood needed each year at 75 percent
- Part A hospice copayment and / or coinsurance at 75 percent
- Medicare Part B copayment or coinsurance at 75 percent
- Medicare Part A deductible at 75 percent
- Skilled nursing facility copayment (Days 21 through 100) at 75 percent
Each plan is standardized by the government. Every Plan A, regardless of company is identical.
Medicare Supplement insurance policies will not typically require that you take a medical exam as a criteria for qualification - particularly if you apply for this coverage during your initial Open Enrollment Period. This also means that there is no blood work required as a part of the underwriting process.
If both you and your spouse buy a Medigap plan through Central States Indemnity Company of Omaha, then you may qualify for a household discount. (Not available in all states).
Central States Indemnity Company offers a fast and hassle-free claims processing service for its Medigap policy holders. And in most cases, claims may be submitted automatically - meaning that there is no paperwork to fill out.
Other Products and Services Provided Through Central States
Central States Indemnity Company of Omaha also offers these additional products:
- Life Insurance
- Senior Life Insurance Coverage
- Credit Card Insurance
- Loss of Income Insurance
Where to Get the Best Premium Quotes on Medicare Supplement Insurance Coverage
If you want to get the cheapest supplemental insurance coverage, you need to do some comparing. Because every plan is standardized, the main difference between all of the carriers out there is their price points.
Buying the first company you contact is a terrible mistake. You could end up paying hundreds dollars more than you have too. The best way do compare companies is to work with an independent agent.
Independent agents aren’t contracted by one single carrier, instead they have the ability to sell plans from various companies. Our agents have built relationships with plenty of companies and can bring the cheapest rates directly to you.