AMA Insurance Medicare Review & Complaints: Health Insurance

The AMA Insurance Medicare Supplement provides every Medicare plan, although Plans F and C are not available to those newly eligible for Medicare in 2020. Based on our sample, the cheapest AMA Medicare insurance rates are $72.52 for Plan K, and Plan A runs $105.84/mo. AMA membership is not required to apply for AMA Medicare coverage.

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Eric Stauffer is a former insurance agent and banker turned consumer advocate. His priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Dec 18, 2020

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AMA Insurance is a subsidiary of the American Medical Association, one of the best-known medical professional organizations in the nation. The company provides a wide variety of insurance products to physicians and their families, including business insurance for medical practices and supplemental health insurance policies like Medicare Supplement. Remember: it’s imperative that you search for the best insurance companies in your area to get the best plan for you.

This AMA Insurance Medicare review will look at which insurance plans are available and how the insurance company’s reputation stacks up. We’ll also cover how to get AMA Insurance Medicare quotes and who is eligible.

You may decide to buy the company’s Medicare coverage after you read this review, but first make sure you’ve compared your options. Enter your ZIP code into our FREE tool above to get an insurance quote today.

What is AMA insurance?

The American Medical Association was founded in New York City by Dr. Nathan Davis in 1847. The group works to advance medical science, establish and maintain medical ethics, and improve public health. They have become one of the most trusted medical groups in the world and their recommendations help to guide public health decisions. The AMA Medicare for all opposition is one of the organization’s more controversial stances.

AMA Insurance is a branch of the AMA created to help provide physicians with the insurance they need, both professionally and personally. The subsidiary does not underwrite all of the products they offer; in fact, most are part of partnerships with other insurance companies designed to provide easy access and discounted rates to doctors. These products are referred to as AMA sponsored, and include auto insurance and home insurance through Liberty Mutual and Medicare Supplement insurance underwritten by Transamerica.

AMA products are available only to physicians and their families, but AMA membership is not required to apply for coverage. Products are sold through the AMA Insurance Agency’s licensed agents.

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What Medicare Supplement insurance is available?

AMA Medicare insurance includes Medicare Supplement plans and Part D coverage. These plans are available across the country to doctors with special discounts, and the plan options vary by state.

California is our usual sample state for comparing plans and rates, so we used a ZIP code there to obtain some plan and rate information. These rates will differ for you based on location and age.

Our search in this state returned a solid list of plan options. AMA Insurance products include plans A, B, C, D, G, F, K, L, M, and N – that is every available plan with the exception of the high deductible version of plan F. There are more options here than we see from most insurance companies, some of which may offer only a handful of these standard plans.

Plan A is considered the base plan that covers Medicare coinsurance at 100% as well as the first three pints of blood each year. The remaining plans add varying amounts of coverage – some do not cover coinsurance amounts at 100%, but most do – up to the highest level of coverage offered by Plan F. Plan F covers all out of pocket costs, which usually makes it the most expensive option. This is the reason for the high deductible version that brings down the monthly cost of coverage, but this plan is not listed as an option.

Plans K and N are the two that do not include the same basic benefits as Plan A and all of the rest, meaning coinsurance amounts are not paid in full. These plans are often a budget option due to the differences in coverage.

In accordance with new rules, Medicare supplement Plan F is no longer available to those newly eligible for Medicare on or after January 1, 2020. The same applies to Plan C.

Medicare Part D prescription drug coverage is sold through eHealth and may be underwritten by a variety of companies.

Does the company have competitive rates?

Because rates vary by location and age, it is difficult to compare the quotes we did receive; still, these numbers provide us with some information about the pricing of plans.

Plan A came back at a monthly rate of $105.84, which is reasonable for this plan based on what we see from Supplement insurers across the country. The cheapest plan is Plan K at$72.52/mo.

Plan G had a rate of $145.04. Plan D was the most expensive plan at $146.02/mo., but not by a wide margin. For the comprehensive coverage this plan offers, it is a good value compared to some of the other AMA branded options.

The AMA offers a 5% discount when you enroll a spouse at the same time, as well as 2% off if you pay your premiums using EFT.

How are Medicare claims handled?

Claims are handled through the underwriting company, Transamerica. As with most health insurance, there is not a lot of need for customer involvement in the process. Claims are generally handled directly with the provider.

Not surprisingly, there is no information regarding Medicare Supplement claims on the AMA website. The AMA Insurance Medicare supplement provider portal is likely found on the website of the company that underwrites the policies, Transamerica. The same goes for AMA Insurance Medicare Supplement provider phone number information.

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Are the company’s reviews and ratings positive?

AMA Insurance Agency, Inc. has an A+ rating with the Better Business Bureau (BBB), and there are a total of three customer complaints on file in the past three years. There are no customer reviews listed.

Since the Medicare Supplement plans are underwritten by Transamerica, which is mostly a life insurance company, we also took a look at their BBB file. It’s not really one of the top rated companies. There, we found a B rating which is reduced by the BBB due to failure to respond to two complaints and four complaints that were not resolved. The insurance company has a total of 413 customer experience complaints on file in the past three years. To have total confidence in a company’s reputation, we would like to see fewer complaints and resolution of those complaints; even a high volume is not an issue if the company is resolving all of the issues.

Transamerica is a life insurance company primarily, and the complaints likely focus mainly on those products rather than the AMA branded Medicare Supplement. Still, a company’s overall reputation applies to every product they sell.

AMA Insurance Medicare: What’s the bottom line?

While the company has a good reputation and offers good prices on coverage to those that qualify (physicians and their families), Transamerica is the underwriting company and their reputation is not as solid as we would like to see. Since it is Transamerica that would be handling the most vital part of any insurance contract – claims – we would recommend being sure to weigh all of your options for your Medicare Supplement health care coverage.

Affordable AMA Insurance Medicare supplements might be an option for you, but comparing rates will make your choice easier. Enter your ZIP code now to get free quotes.

 

Are you looking for free insurance quotes?

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