Individual Assurance Company Insurance Review & Ratings (2024)
Demystifying Individual Assurance Company Insurance: Comprehensive Review & Ratings on Coverage, Customer Satisfaction, and Financial Stability. Uncover the Facts to Ensure Your Insurance Matches Your Needs. Trustworthy Insights for Informed Decision-Making. Explore Now for Peace of Mind and Security.
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Dani Best
Licensed Insurance Producer
Dani Best has been a licensed insurance producer for nearly 10 years. Dani began her insurance career in a sales role with State Farm in 2014. During her time in sales, she graduated with her Bachelors in Psychology from Capella University and is currently earning her Masters in Marriage and Family Therapy. Since 2014, Dani has held and maintains licenses in Life, Disability, Property, and Casualt...
Licensed Insurance Producer
UPDATED: May 27, 2023
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Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: May 27, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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Welcome to our comprehensive Individual Assurance Company Insurance Review & Ratings article. In this in-depth analysis, we delve into the key aspects of Individual Assurance Company’s insurance offerings.
Our review covers crucial topics such as coverage options, customer satisfaction, and financial stability. We provide unbiased insights to help you make an informed decision about your insurance needs. To ensure you find the best insurance provider for your specific requirements, we encourage you to take the next step.
Enter your zip code below and compare rates from the top insurance providers in your area. Take control of your insurance journey and secure the coverage that provides peace of mind.
Individual Assurance Company Medicare Plans
When trying to find an average supplemental cost for Medicare or a Medigap plan in general, there are many options on the market to choose from.
IAC Medicare Supplement plans supplement Original Medicare coverage by helping with copayments, coinsurance, and deductibles. These are the shared costs that you will end up paying out-of-pocket when you use various health services.
IAC offers plans A, B, C, D, F, G, and N for their policyholders.
Here’s a quick breakdown:
Plan | Details |
---|---|
Plan A | Covers all Medicare Part A & B coinsurance |
Plan B | Helps you pay for your primary healthcare costs; specifically, it covers costly deductibles, co-payments and coinsurances from unexpected procedures and inpatient care |
Plan C | Covers the gaps on most of Medicare's approved costs |
Plan D | Helps seniors pay for the gaps in their original Medicare coverage |
Plan F | The highest level of coverage available; plan pays out of pocket costs not covered by Medicare and covers emergencies during foreign travel |
Plan G | Plan G covers Part B excess charges |
Plan L | Offers the basic benefits required of all supplements, but may not pay 100% of each costs |
Plan N | Make a copayment of up to $20 for some doctor visits and up to $50 for emergency room care that does not require you to be admitted into the hospital |
Plans F, G & N are the most commonly purchased Medicare Supplement plans that IAC offers and has the most states that it’s available in.
Plan A
IAC’s Plan A covers the following:
- Medicare Part A coinsurance payments up to an additional 365 days after Original Medicare benefits are exhausted
- Medicare Part B copayment or coinsurance expenses, including preventative care coinsurance expenses
- The first three pints of blood used in any medical procedure
- Part A hospice care coinsurance expense or copayment
Out of all of IAC’s plans available, Plan A offers the fewest benefits. Policyholders will be responsible for covering their Part A deductible in full, including hospitalization costs, Skilled Nursing Facility (SNF) care, hospice care, and some home health care services.
Despite this, this plan may be suitable to you if you have no desire to pay costly premiums for benefits that you are not likely to use.
Plan B
Plan B covers the following:
- Medicare Part A hospital and coinsurance costs up to an additional 365 days after Original Medicare benefits are exhausted
- Medicare Part A hospice care coinsurance or copayments
- Medicare Part A deductible
- First three pints of blood used in a medical procedure
- Medicare Part B coinsurance or copayments
IAC’s Medigap Plan B does not cover these expenses:
- Medicare Part B deductible
- Medicare Part B excess charges
- Skilled Nursing Facility (SNF) care coinsurance
- Foreign travel emergency care
IAC can also set monthly premiums based off of three pricing methods: community-rated, issue-age-rated, and attained-age-rated.
Plan C
There are two items that are not covered by a Plan C supplement. The first is Medicare Part B excess charges. These are doctors fees that are on top of what Medicare will pay for any medical service. When excess charges occur they are charged to you and not your Medigap plan.
The second exclusion is home recovery charges associated with the recovery process after you have been hospitalized.
Plan D
Plan D is a good middleman between the least and most comprehensive supplements.
With this supplement, provider covers many of the out-of-pocket costs that come with Original Medicare, but do not cover any Part B deductibles or Part B excess charges.
Plan F
This is one of the most popular and comprehensive plans that IAC has to offer. With Plan F, it covers 100% of the gaps that Original Medicare doesn’t cover, greatly reducing your out-of-pocket costs if anything were to happen to you.
Plan F also covers:
- Inpatient hospital coverage
- Overseas medical care (up to 80%)
- Part A deductible
IAC also offers Medicare Plan G, a plan that is identical to Plan F. The only difference is that the Medicare Part B deductible is not covered.
Plan G
Part B excess charges can be covered with Plan G. You will also get all the basic benefits included in all Medicare supplement plans.
Here are some coverage highlights of Plan G:
- Preventative care coinsurance
- First 3 pints of blood
- Hospice care
Plan G also comes with skilled nursing, travel coverage, and Part A deductible coverage.
Plan L
Plan L is a cost sharing plan. Unlike most supplements, Plan L policy protects you with a $2,940 annual out-of-pocket limit.
This Medigap policy is a good alternative if you can handle the up-front deductibles. Plan L offers the basic benefits required of all supplements, but may not pay 100% towards each cost.
Plan L has a higher level of cost-sharing than other Medigap plans, so policyholders will be responsible for more than just their monthly premium.
Plan N
This is IAC’s most affordable plan. This is perfect for a individuals that don’t need a lot of medical care but still want coverage for the unexpected moments in life.
Here are some coverage highlights of Plan N:
- Hospital stay up to 365 days
- Outpatient care and procedures
- Part B copays
The advantages of Medicare supplement Plan N are simple. With the monthly premium at the lowest price, you can save money while at the same time making sure you have coverage for the “Gaps” that Original Medicare doesn’t cover.
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What doesn’t IAC pay for?
Here’s a list of the most common services a Medicare supplement from IAC can’t cover:
- Long-Term Care: Medicare does not cover long-term care costs, which helps with eating, dressing, toileting, and other daily functions
- Vision and Dental Care: Medicare covers oral and eye surgery and other treatments associated with a medical condition, but it does not cover routine oral and vision care. For this, you can get a senior dental plan separately. Many dental plans include vision benefits.
- Eyeglasses & Contact Lenses: Eyeglasses and contacts are not covered by any IAC Medicare supplements
- Hearing Aids: Hearing aids are not a Medicare-covered cost. However, some Medicare Advantage plans include hearing benefits.
- Private Nursing: Medicare covers skilled nursing for recovery purposes after inpatient care, but, private-duty nursing at home is not covered
- Prescription Drugs: The medications you get as a hospital inpatient are paid through your Medicare Part B benefits, but you regular prescriptions aren’t. For your prescriptions you’ll need to compare Medicare Part D plans to find the lowest cost coverage.
It is important to understand that a Medigap plan is limited to what Medicare itself can cover, which does also pertain to IAC as well.
IAC Company Rating
According to A. M. Best, the company presents a Good outlook with a B+ rating and a B- with the BBB.
How can I get a policy with IAC?
There are plenty of options when it comes to buying a policy with IAC. Here are some resources to help:
- Individual Assurance Company provider contact number: (405) 285-0838
- Individual Assurance Company phone number: (888) 524-3629
- Individual Assurance Company provider portal: can be found here.
For a more streamlined service, IAC recommends using their online portal.
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Individual Assurance Company Medicare Review & Ratings: Key Takeaways
Although Medicare may pay a large part of your health care expenses, it does not pay for all of your expenses. That’s where Individual Assurance Company steps in to help fill in those gaps.
With IAC’s numerous plans to choose from, they have a policy for just about anyone’s unique circumstance and affordable rates to fit any budget.
Now that you’re learned about Individual Assurance Company Medicare Supplement plans, take the time to enter your ZIP code into our free tool and start comparing Medicare quotes in your area.
Frequently Asked Questions
What is Individual Assurance Company?
Individual Assurance Company, or IAC, is an insurance company that offers a wide range of insurance plans for individuals, including Medicare Supplement plans. They have been in operation since 1956 and currently offer Medigap plans in 43 states.
What Medicare Supplement plans does IAC offer?
IAC offers Medicare Supplement plans A, B, C, D, F, G, and N.
What does IAC’s Plan F cover?
Plan F is one of IAC’s most comprehensive plans and covers 100% of the gaps that Original Medicare doesn’t cover, greatly reducing out-of-pocket costs. It also covers skilled nursing, travel coverage, and Part A deductible coverage.
What is the most commonly purchased IAC Medicare Supplement plan?
Plans F, G, and N are the most commonly purchased Medicare Supplement plans that IAC offers and are available in the most states.
What services are not covered by a Medicare supplement from IAC?
A Medigap plan from IAC is limited to what Medicare itself can cover. Some common services that a Medigap plan can’t cover include dental care, hearing aids, and long-term care.
How can I get a policy with IAC?
You can purchase a policy with IAC through their online portal or by contacting them directly.
What is IAC’s company rating?
According to A.M. Best, IAC has a B+ rating, and according to the BBB, they have a B- rating.
How can I compare Medicare Supplement plans from IAC with other insurance companies?
You can use a free online tool to compare Medicare Supplement plans from multiple insurance companies, including IAC. Simply enter your ZIP code into the tool to start comparing quotes.
Compare The Best Insurance Quotes In The Country
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Dani Best
Licensed Insurance Producer
Dani Best has been a licensed insurance producer for nearly 10 years. Dani began her insurance career in a sales role with State Farm in 2014. During her time in sales, she graduated with her Bachelors in Psychology from Capella University and is currently earning her Masters in Marriage and Family Therapy. Since 2014, Dani has held and maintains licenses in Life, Disability, Property, and Casualt...
Licensed Insurance Producer
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.