Continental Life Insurance Company Review

Even though Medicare can provide a wide array of coverage, there are still many financial “gaps” in this program, which can leave enrollees with high out-of-pocket charges. And, depending on how much you use your Medicare coverage, these costs could make it too expensive.

It’s not all bad news, regarding still being able to get the health care services that you need, without having to dip into your savings. That is through a Medicare Supplement insurance plan. This coverage is designed for covering many of Medicare’s gaps - and because of that, it is also called Medigap protection. 

If you like the idea of buying extra coverage, there are ten different policies to choose from. Ten plans will offer different kinds of protection. Each one is named by a letter of the alphabet. Before you buy a policy, you need to decide how much coverage you’ll need.

Not only are there 10 plans, but there are hundreds to choose from. Just like with any other kind of insurance policy, you’ll need to figure out the company who has the best rates, excellent customer service, and offers the benefits for you.

To help you through the process, we’ve reviewed some of the most popular companies we’ve worked with.

The History of Continental Life Insurance Company

Continental Life Insurance Company, also known as CLI, was established over 30 years ago. The company is known for having an unwavering commitment to providing the best personal service possible to its policyholders.

They have a history of making  timely payment on its policyholders’ claims. Currently, Continental Life Insurance Company provides Medicare Supplement insurance coverage in the following states:

• Delaware
• Georgia
• Idaho
• Iowa
• Louisiana
• Minnesota
• Rhode Island
• Wisconsin

Continental Life Insurance Company Review

Throughout the years, Continental Life Insurance has come to be known as a specialist in the Medicare Supplement plans. The company offers quality Medicare Supplement products, along with helpful and friendly service from its experienced customer service reps.

In 2011, Continental Life Insurance Company, along with American Continental Insurance Company (ACI) became members of the Aetna family of companies - which has further enhanced CLI’s strength and reliability in the industry.

Aetna is one of the nation’s leading diversified health care benefits companies - and it currently serves approximately 44 million customers in the healthcare arena - this includes health coverage for seniors such as Medicare Supplement insurance.

Today, Aetna, CLI, and ACI together make up Aetna Senior Supplemental Insurance - which has grown into a successful and dynamic company that has approximately 30,000 licensed agents nationwide.

Continental Life Insurance Company is headquartered in Brentwood, Tennessee. It has a strong and stable financial backing, and is known for meeting its commitments.

Third-Party Ratings

If you want a company which excellent ratings from various rating companies, then Continental Life is a great place to start your search. They have some of the highest ratings out there.

From the A.M. Best (one of the most popular rating companies), they hold an A, which is one of the best possible rates. From the BBB, they have an A+, although they haven’t received accreditation. They haven’t had any complaints filed through the BBB in the past several years.

Medicare Supplement Insurance Plans Offered by Continental Life Insurance Company

Continental Life sells 6 different plans.

Plans that are provided through Continental Life:

• Plan A
• Plan B
• Plan F
• High Deductible Plan F
• Plan G
• Plan N

Because Continental Life Insurance Company offers so many plans, customers can determine whether an option that offers just a basic, core set of coverages (such as Medicare Plan A) is best, or alternatively, a plan that is much more comprehensive, such as Plan F or Plan G.

A Supplemental Plan A provides:

• Medicare Part A coinsurance and hospital costs - up to an additional 365 days after Medicare benefits are used
• Medicare Part B coinsurance or copayment
• Blood - the first 3 pints that may be needed each year
• Medicare Part A hospice care coinsurance or copayment

All of the other policies will have these same coverage categories, but they will add other protection. For example, with Medicare Supplement Plan B, all of Plan A’s coverage is included, along with coverage for Medicare Part A’s deductible.

If an individual is seeking much more comprehensive coverage, then Medicare Supplement Plan F or Plan G could be considered. With Medicare Supplement Plan F, the benefits that are offered include:

• Medicare Part A coinsurance and hospital costs - up to an additional 365 days after Medicare benefits are used
• Medicare Part B coinsurance or copayment
• Blood - the first 3 pints that may be needed each 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 charges
• Foreign travel emergency - up to the plan’s limits (80%)

Medigap Plan G has the same coverage as Plan F, but doesn’t include the Part B deductible.

If a Medicare enrollee is seeking the most comprehensive Medigap plan, but they are concerned about having a high premium payment to pay, they could consider the High Deductible Plan F alternative.

With this particular Medicare Supplement insurance plan, all of the same benefits are included that you will find in the regular Plan F. However, there is an annual deductible that must first be met before any benefits will be paid out from the plan.

One important note, not every policy is available in every state. Some states restrict the plans which are sold, meaning your choices might be limited based on where you live.

For example, in the state of Wisconsin, there is a set of basic Medicare Supplement benefits that include:

• Inpatient hospital care that covers the Medicare Part A coinsurance amount
• Medical costs - which cover the Medicare Part B coinsurance amount, which is 20 percent of the Medicare-approved amount
• The first three pints of blood that may be required each year
• Medicare Part A coinsurance or copayment amount

So, in Wisconsin, the Basic Medigap plan will include the basic set of benefits that are noted above, along with the following coverage:

• Medicare Part A skilled nursing facility coinsurance amount
• 175 days per lifetime in addition to Medicare’s benefit of inpatient mental health coverage
• 40 home health care visits in addition to those that are paid for by Medicare
• State mandated benefits

Before moving forward with any Medicare Supplement insurance plan, it is important to consider several factors, such as:

• Your current health condition
• How much you anticipate using your health care coverage
• The amount that you are comfortable paying in monthly premium amount

In order to be eligible for a Medigap policy, you have to be enrolled in Traditional Medicare Parts A and B.

In the state of Minnesota, individual who are eligible for Medicare Supplement insurance have guaranteed issue rights to purchase a policy. These plans can include basic benefits, such as:

• Inpatient hospital care, which covers the Medicare Part A coinsurance
• Medical costs, which cover the Medicare Part B coinsurance amount
• The first three pints of blood needed per year
• Medicare Part A hospice and respite care cost sharing
• Medicare Part A and Part B home health services and supplies cost sharing

Those who sign up for a Basic Medicare Supplement plan in Minnesota will be covered with the following benefits:

• Basic benefits
• Medicare Part A skilled nursing facility (SNF) coinsurance, which provides 100 days of skilled nursing facility care
• 80 percent of foreign travel emergency
• 50 percent of outpatient mental health
• Medicare covered preventive care
• 20 percent of physical therapy
• State mandated benefits (such as diabetic equipment and supplies, routine cancer screening, reconstructive surgery, and immunizations)

How to Get the Best Premium Rates on Medicare Supplement Insurance Coverage

One thing we tell everyone is to compare companies before you buy. Medigap plans are regulated. Each company has the same kind of coverage for those the letter policy. Plan A’s are going to be the same regardless of the company, but each one will have different price points.

Sure, you can call company after company to get the rates, or you can give us a single call. Would you rather spend days calling companies or less than an hour talking to us? We represent dozens of carriers.

Give us a quote or fill out the quote form. Either way, you’ll get the protection you need.