Americo Life Medigap Plans South Dakota Medicare Supplement Review
On this page we help consumers: Compare Americo Life Medicare Supplements in South Dakota with competing Medigap plans. Shop lowest prices on Medicare Plan F, G, N and more. Read our 5-star review of Americo Life vs. Top Ten Competition.
MedicareWire Rating:  |  |
|---|---|
| A.M. Best Rating: | A |
| A.M. Best Outlook: | Stable |
| S&P Rating: | |
| Established: | 2015 |
| NAIC Number: | 61999 |
| Policy Fee: | None |
What Medicare Supplements does Americo Life offer in South Dakota?
Americo Financial Life and Annuity Insurance Company offers 4 different Medigap Plans in South Dakota. Each plan covers the gaps in Original Medicare differently (see Comparison Chart or check out our Review). Here's what Americo Life offers:
Attained Age Rated Medigap Plans: With this plan rating type your monthly premium is based on your current age. As you age your premium will increase. As an example, if you enroll in a Medigap policy at age 65 with a premium of $120, it may increase to $138 when you turn 69, and $162 at age 72. Also, Attained Age rated plans may increase with inflation.
Americo Life Medigap Plan Comparison Chart
The following table shows what each Americo Life Medigap plan covers:
| Medigap Plans Offered in South Dakota | ||||
|---|---|---|---|---|
| Benefits | A | F | G | N |
| Part A Deductible | No | Yes | Yes | Yes |
| Part A Co-insurance | Yes | Yes | Yes | Yes |
| SNF Co-insurance | No | Yes | Yes | Yes |
| Part B Deductible | No | Yes | No | No |
| Part B Co-insurance | Yes | Yes | Yes | Yes |
| Excess Charges | No | Yes | Yes | No |
| Foriegn Travel | No | 80% | 80% | 80% |
| Out-of-Pocket Limits | No | No | No | No |
REVIEW: Americo Life Medicare Supplements in South Dakota
Americo Life scored 3.5 out of 5.0 based on our scoring method. Americo Life has a good financial rating from A.M. Best, but their Plan F is not in the top 10 best rates and they have less than 10 years experience servicing Medicare Supplements. We are confident in their financial strength, but feel there are better options in South Dakota. See the top 10 competition.
Here are the pros and cons from our analysis:
Pros
- Excellent financial strength.
- No charge for writing the policy.
Cons
- Plan F premium not in top 10 best.
- Fewer than 5 years in the Medicare Supplements business.
- Does not offer Medicare SELECT plans.
- Does not offer the 5 most popular plans.
We reviewed Americo Life's Medigap plan offering in South Dakota versus all other carriers in the state. Our review is unbias. We use a formula that looks at years in business, A.M. Best financial strength rating, plans serviced, plan premiums and fees. We did not take into account rate increase history.
Americo Life Medicare Supplement Plan F Compared to Top Ten
Medigap Plan F is the best selling plan sold in South Dakota. Below you can compare Americo Life's starting rate on Plan F vs. their top ten competitors.
| Carrier | Premium[3] | Fee | Review[4] |
|---|---|---|---|
| Americo Life | $129.24 | None | |
| Transamerica | $122.99 | None |  |
| Equitable National | $124.54 | $20.00 | |
| Guarantee Trust Life | $124.68 | $25.00 | |
| Globe Life | $125.00 | None | |
| Liberty Bankers Life | $125.06 | $25.00 | |
| Philadelphia American | $125.42 | $20.00 | |
| Combined Insurance | $126.93 | $25.00 |  |
| Puritan Life | $127.19 | $25.00 |  |
| Assured Life | $127.24 | $25.00 | |
| Cigna | $128.81 | None | |
Contact Americo Life Medigap Sales
For assistance 24 hours a day, call 800-633-4227. TTY users should call 877-486-2048 or visit www.medicare.gov. If you qualify for Medicare but have not yet enrolled or verified your enrollment status, you can do so on the Social Security Administration website. You can learn more about Medigap on the Wikipedia page and on WebMD.
Compare Plan Rates
The average South Dakota senior compares three or more quotes before making an enrollment decision.
Eligibility
Americo Life Medicare Supplements are available to all South Dakota beneficiaries, ages 65 and older, who are enrolled in Medicare Part B. If you are just turning age 65, you have guaranteed issue rights and cannot be turned down by Americo Life. Plus, your policy cannot be canceled and it will continue to be renewed as long as you pay the premiums on time and make no material misrepresentations.
Availability
Americo Life services Medicare supplement insurance in Sioux Falls, Rapid City, Aberdeen, Brookings, Watertown, and most other South Dakota cities. Visit the Americo Life Medicare page for more information.
About this Review
This page presents an independent review of Americo Life as a Medicare Supplement insurance carrier in South Dakota as compared to all other carriers. MedicareWire provides this information for consumer educational purposes. Our goal is to present information accurately and without bias, based on our interpretation of factual information about each carrier.
Medicare Supplement insurance, also known as Medigap insurance, must follow federal and state laws and does not work with any other type of health insurance, including Medicare Advantage Plans, employer/union group health coverage, Medicaid, Veterans Administration (VA) benefits, or TRICARE. Insurance companies, including Americo Life, can only sell you a standardized Medigap policy identified by letters A through M. Each standardized policy must offer the same benefits, no matter which insurance company sells it. Cost is the primary difference between Medigap policies sold by different insurance companies.
Additional Foot Notes
[3] Sample premium is for a 65 year old, non smoking, woman living in South Dakota. The rate was accurate on date of publication. Rates change frequently and they are priced by county. You must contact a licensed agent to get a current rate for your situation.
[4] Review rating stars are derived from MedicareWire reviews on our South Dakota Medigap Plan Reviews page.
The Medicare Supplement information on this page originates from CMS Data Files, is maintained by David Bynon, and was last updated on .