Philadelphia American Insurance is a top-rated health insurance provider in the United States. The company has been in operation for over 100 years, offering affordable and customizable insurance plans to individuals, families, and businesses across the country. With a commitment to customer satisfaction and quality service, Philadelphia American Insurance has become a trusted name in the insurance industry.
History of Philadelphia American Insurance
Philadelphia American Insurance was founded in 1902 as a small local insurance agency in Pennsylvania. The company quickly expanded its operations and began selling insurance products in other states. Over the years, Philadelphia American Insurance has grown to become one of the leading insurance providers in the country.
The company is now a wholly-owned subsidiary of New Era Life Insurance Company and is licensed in 48 states.
The Benefits of Choosing Philadelphia American Insurance
Philadelphia American Insurance offers a range of benefits to its customers, including:
Benefits |
Description |
|---|---|
Customized plans |
Philadelphia American Insurance offers a variety of plans that can be customized to meet the unique needs of each customer. |
Affordability |
Philadelphia American Insurance offers insurance plans at competitive rates, making it an affordable option for individuals and families. |
Quality service |
The company is committed to providing quality service to its customers, with a team of knowledgeable and friendly representatives available to assist with any questions or concerns. |
Range of coverage |
Philadelphia American Insurance offers a wide range of insurance coverage, including health, dental, vision, and life insurance. |
Types of Insurance Plans Offered by Philadelphia American Insurance
Health Insurance
Philadelphia American Insurance offers a variety of health insurance options for individuals, families, and businesses. The plans are designed to offer comprehensive coverage for medical services, including doctor visits, hospital stays, prescription drugs, and more.
The health insurance plans offered by Philadelphia American Insurance include:
- Preferred Provider Organization (PPO) plans
- Health Savings Account (HSA) plans
- Short-Term Medical plans
- Medicare Supplement plans
Preferred Provider Organization (PPO) Plans
A PPO plan is a type of health insurance plan that allows policyholders to choose their own healthcare providers. With a PPO plan, policyholders have access to a network of healthcare providers that have contracted with the insurance provider to offer services at discounted rates. Out-of-network providers are also covered but at a higher cost to the policyholder.
Health Savings Account (HSA) Plans
An HSA plan is a type of health insurance plan that allows policyholders to save money tax-free for future medical expenses. Contributions to an HSA account are tax-deductible and withdrawals for qualified medical expenses are tax-free. HSA plans are ideal for individuals who want to have more control over their healthcare spending and save money on taxes.
Short-Term Medical Plans
Short-Term Medical plans are designed to provide temporary health insurance coverage for individuals who are between jobs or who are waiting for other insurance coverage to start. These plans offer a range of benefits, including coverage for doctor visits, hospital stays, and prescription drugs.
Medicare Supplement Plans
Medicare Supplement plans are designed to supplement the coverage offered by Original Medicare. These plans offer additional benefits, including coverage for deductibles, copayments, and coinsurance.
Dental Insurance
Philadelphia American Insurance offers dental insurance plans that provide coverage for preventative, basic, and major dental services. The plans are designed to help policyholders maintain good oral health and prevent oral health problems from developing.
The dental insurance plans offered by Philadelphia American Insurance include:
- Indemnity plans
- Dental Preferred Provider Organization (DPPO) plans
- Dental Health Maintenance Organization (DHMO) plans
Indemnity Plans
An indemnity plan is a type of dental insurance plan that allows policyholders to choose their own dental providers. With an indemnity plan, there are no network restrictions, and policyholders can see any licensed dentist. The insurance company will pay a percentage of the cost of covered services, and the policyholder is responsible for the remaining balance.
Dental Preferred Provider Organization (DPPO) Plans
A DPPO plan is a type of dental insurance plan that offers policyholders access to a network of dental providers that have contracted with the insurance provider to offer services at discounted rates. Policyholders can choose to see an in-network or out-of-network provider but will generally pay less for services received within the network.
Dental Health Maintenance Organization (DHMO) Plans
A DHMO plan is a type of dental insurance plan that provides coverage for preventative and basic dental services. Policyholders are required to choose a primary care dentist and will generally pay a lower cost for services received within the network. DHMO plans typically do not cover major dental services or services received outside of the network.
Vision Insurance
Philadelphia American Insurance offers vision insurance plans that provide coverage for routine eye exams, prescription glasses, and contact lenses. The plans are designed to help policyholders maintain good eye health and prevent vision problems from developing.
The vision insurance plans offered by Philadelphia American Insurance include:
- Indemnity plans
- Vision Preferred Provider Organization (VPPO) plans
Indemnity Plans
An indemnity plan is a type of vision insurance plan that allows policyholders to choose their own eye care providers. With an indemnity plan, there are no network restrictions, and policyholders can see any licensed eye care professional. The insurance company will pay a percentage of the cost of covered services, and the policyholder is responsible for the remaining balance.
Vision Preferred Provider Organization (VPPO) Plans
A VPPO plan is a type of vision insurance plan that offers policyholders access to a network of eye care providers that have contracted with the insurance provider to offer services at discounted rates. Policyholders can choose to see an in-network or out-of-network provider but will generally pay less for services received within the network.
Life Insurance
Philadelphia American Insurance offers life insurance plans that provide financial protection for policyholders and their families in the event of death. The plans are designed to help policyholders ensure that their loved ones are financially secure after they pass away.
The life insurance plans offered by Philadelphia American Insurance include:
- Term Life Insurance
- Whole Life Insurance
- Universal Life Insurance
- Final Expense Insurance
Term Life Insurance
Term Life Insurance is a type of life insurance that provides coverage for a specific period of time, typically 10, 20, or 30 years. Policyholders pay a monthly premium, and if they pass away during the term of the policy, their beneficiaries will receive a death benefit. Term Life Insurance is ideal for individuals who want to ensure that their loved ones are financially secure for a specific period of time.
Whole Life Insurance
Whole Life Insurance is a type of life insurance that provides coverage for the policyholder’s entire life. Policyholders pay a monthly premium, and when they pass away, their beneficiaries will receive a death benefit. Whole Life Insurance is ideal for individuals who want to ensure that their loved ones are financially secure for their entire life.
Universal Life Insurance
Universal Life Insurance is a type of life insurance that provides coverage for the policyholder’s entire life and offers flexibility in premium payments and death benefits. Policyholders can choose how much they want to pay in premiums and can adjust the death benefit as needed. Universal Life Insurance is ideal for individuals who want flexibility in their life insurance coverage.
Final Expense Insurance
Final Expense Insurance is a type of life insurance that provides coverage for the policyholder’s funeral and burial expenses. The policy is typically a smaller death benefit, meant to cover the cost of final expenses. Final Expense Insurance is ideal for individuals who want to ensure that their loved ones are not burdened with the cost of their funeral and burial expenses.
FAQs About Philadelphia American Insurance
How do I enroll in a Philadelphia American Insurance plan?
Enrolling in a Philadelphia American Insurance plan is easy. Simply visit the company’s website, select the plan that best fits your needs, and follow the enrollment instructions.
What is a deductible?
A deductible is the amount of money that a policyholder must pay out of pocket before insurance coverage begins. For example, if a policy has a $1,000 deductible, the policyholder would be responsible for paying the first $1,000 of covered expenses before the insurance company would begin paying.
What is a copayment?
A copayment is a fixed amount of money that a policyholder is required to pay for each visit to a healthcare provider. For example, if a policy has a $20 copayment for doctor visits, the policyholder would be responsible for paying $20 for each doctor visit.
What is coinsurance?
Coinsurance is the percentage of covered expenses that a policyholder is responsible for paying after meeting their deductible. For example, if a policy has a 20% coinsurance rate, the policyholder would be responsible for paying 20% of covered expenses after meeting their deductible.
What is a network?
A network is a group of healthcare providers, dentists, or eye care professionals that have contracted with an insurance provider to offer services at discounted rates. Policyholders can choose to see an in-network provider to receive services at a lower cost or an out-of-network provider at a higher cost.
Can I purchase insurance coverage for my employees through Philadelphia American Insurance?
Yes, Philadelphia American Insurance offers group insurance plans for businesses of all sizes. These plans offer comprehensive coverage for employees and their families and can be customized to meet the specific needs of each business.
Conclusion
Philadelphia American Insurance is an established leader in the insurance industry, offering affordable and customizable insurance plans to individuals, families, and businesses across the United States. With a commitment to customer satisfaction and quality service, Philadelphia American Insurance has earned a reputation as a trusted name in the insurance industry.