American United Insurance: Medigap Insurance for Seniors in Ohio

American United Insurance offers nine out of the twelve standardized Medicare supplemental insurance policies to seniors in Ohio. These policies, also called 'Medigap' policies, are designed to fill in the costs 'gaps' in the coverage of Medicare Parts A and B. While Medicare pays for many health care expenses, there are many expenses, like co-insurance and deductibles, that it doesn't pay for. The purpose of Medigap policies is to pay for those things which Medicare doesn't.

The Medigap plans available to Ohio seniors through American United Insurance are Plans A, B, C, D, F, G, K, and L, and high-deductible Plan F. High-deductible Plan F offers the same benefits as the regular Plan F, but the monthly premium is substantially lower. In exchange, the annual deductible, which is set by the federal government, is substantially higher. The deductible in 2008 was $1,900.

Medicare supplemental insurance policies are standardized, meaning that policy benefits are identical across all insurance companies in Ohio. The greatest difference that you're likely to find between companies are the monthly premiums they set for their Medigap plans.

Because supplemental health insurance companies in Ohio set their own monthly premiums, plans vary in price from insurer to insurer. Knowing how your insurer determines the price of your Medigap plan is important for understanding how much your plan will cost now and in the future. There are three types of pricing structures for Medigap health insurance for seniors: 1) issue-age rated, 2) community rated, and 3) attained-age rated.

American United Insurance uses the issue-age rated pricing method to set prices for its Medigap insurance for Ohio seniors. This means that your Medigap policy is based on your age; the closer you are to 65 when you buy it, the less your policy will cost. The price won't increase as you get older, although it may be adjusted for inflation or other factors.