BALTIMORE, MD (October 24, 2013) — Transamerica announced today that it will begin sales of its new individual Medicare Supplement Insurance plans insured by Transamerica Life Insurance Company. The new Medigap plans have been approved in AZ, GA, IA, ID, IN, KY, ME, MI, MO, MT, ND, NE, NM, SC, SD, TN, UT, WA, WV, and WY, and more approvals are pending. Transamerica Medicare Supplement plans help those on Medicare cover some of the health care costs (“gaps”) that Medicare does not cover, such as copayments, coinsurance and deductibles.
Transamerica will continue to make available its group Medicare Supplement and Employer Prescription Drug Plans (Employer PDP) through its Transamerica Affinity Services business unit.*
“With only Medicare Parts A and B, consumers could potentially be paying thousands of dollars in expenses out of their own pockets. Medicare Supplement plans are designed to exchange the complex coinsurance and deductible requirements found under traditional Medicare with predictable monthly premiums. These new plans are competitively priced and policyholders, applicants, and distribution partners should also expect the same first class level of service they have enjoyed with our companies for many years,” said Brian Healy, Senior Vice President at Transamerica Affinity Services, a business unit of Transamerica.
Transamerica Life Insurance Company has received some of the highest ratings available from insurance rating agencies such as A.M. Best, whose current rating of the company is A+ (Superior, 2nd of 16 rating categories, as of May 8, 2013).
Consumers: For more information or to enroll, please call 1.866.205.9120, Monday – Friday, 8 a.m. to 6 p.m., EST, or visit TransamericaMedSupp.com. Transamerica companies also offer a variety of life, health, dental, and Individual Medicare Prescription Drug coverage.
Agents: This new product is not available for individual agent distribution at this time. Learn about Medicare Supplement Insurance for agent distribution by contacting Transamerica Agency Group, email agencysalessupport@transamerica.com. Agents representing groups should contact Transamerica Affinity Services — a leading provider of group supplement health and life coverage.
*The Employer Group Waiver Plan is a group plan underwritten by Stonebridge Life Insurance Company (Rutland, VT), a Transamerica company.
About Transamerica
Transamerica Affinity Services, Inc., a business unit of the Life & Protection Division of Transamerica, combines leading-edge products, services, administration, and distribution to help you bridge the distance between where you are today and where your organization wants to go tomorrow. We are a premier provider of direct response supplemental life and health products in the United States. Our partners include brokers, consultants, third party administrators, and managing general underwriters, who are leaders in their respective markets such as: associations, employers, government entities, credit unions, travel agencies, colleges and K-12 schools, unions, Taft-Hartley groups, events, and organizations.
The Transamerica companies offer a wide array of innovative financial services and products with a common purpose: to help individuals, families, and businesses build, protect and preserve their hard-earned assets. With more than a century of experience, Transamerica has built a reputation on solid management, sound decisions and consumer confidence. For more information, visit www.transamerica.com.