Quick Reference guide to the definitions on your Medicare Supplement comparison quote
- Parent Company of the Insurance Company
Aetna offers Medicare Supplement Insurance Plans under several names:
- Accendo (a CVS Company)
- Continental Life
- American Continental
United Healthcare-AARP offers Medicare Supplements Insurance Plans under two names:
- United Healthcare Insurance Company
- United Healthcare Insurance Company of America
While medical benefits are the same, policies sold under the name United Healthcare Insurance Company offers value added services such as (but not limited to) discount on vison needs, hearing aids, certain network dental providers etc, as well as a gym discount membership program.
Polices sold under the name United Healthcare Insurance Company of America DO NOT Offer value added services.
Please be aware of this nuance when reviewing your Medicare Supplement Insurance Plan quotes.
HH Discount/Household Discount
- A percentage discount off your premium generally when two spouses/partners obtain coverage with the same insurance company. Some insurance companies offer a discount simply for being married or living with a partner/family member. Discount eligibility requirements vary by insurance company.
- A one time administrative fee charged by the insurance company to the policyholder
AM Best Rating
- Credit rating agency that assesses an insurance company’s creditworthiness and overall financial health
- Attained Age- Policy in which the premiums are based on your age at enrollment. The premium will be lower when you first enroll and may increase as you get older.
- Community Rated- Generally the same monthly premium is charged to everyone who has the policy, regardless of age. Your premium isn’t based on your age however premiums may go up because of inflation and other factors.
- Issue Age- Policy in which the premiums are based on your age at enrollment, however premiums will not increase due to age. Premiums may go up due to inflation and other factors.
- The Medicare Supplement Plan Letter that is being quoted
- Credit rating agency that assesses and insurance company’s creditworthiness and overall financial health.
- Underwriting class used by the insurance company
Years in the Market
- The length of time the plan has been available for sale under a particular underwriting company, in a particular geographical area. This does not reflect the total length of time the parent company has sold Medicare Supplement plans.
- Date that the current pricing structure took effect