Are GCU Medicare Supplement Worth It?
GCU Medicare Supplement plans make some of the cheapest Medigap plans across the country. These plans are also attractive to customers because of their extensive coverage and ability to welcome seniors with certain medical conditions which are refused by other insurance companies.
The organization extends its insurance offers to all the states across the country.
There are various factors which make the supplement plans from this company a policyholder’s best bet. Let’s look into these factors after considering business’ origins.
GCU Community Services
What started as community-wide cooperation to facilitate Rusin, or Rusyn, immigrants, GCU, has now developed a stronger bond among its members.
GCU prides in working as an organization for people made from the cooperation and support of the same.
The society’s name is Greek Catholic Union. As it is apparent it started offering its services at different lodges across the country. These independent lodges, which were run under church supervision, were consolidated in 1891, and GCU was born in the same year.
The organization calls itself a fraternal benefit society which implies that it doesn’t work for its owners or shareholders but for its members.
The organization pays back any profit which it accumulates over time to the community in the form of through charities and community services.
Variety of Services
The company offers a range of insurance products including Annuities, Life insurance, and Medicare Supplement plans.
The basket of GCU Medicare Supplement plans holds Plan F, G, and N. It should be noted that these plans are also the most popular Medicare Supplement plans across the country with Plan F losing its traction in recent year.
The reliability of an insurance provider is a key factor that helps its clients in trusting its services. There are various factors that define the reliability of such organizations. These include the age of the organization, its investment strategies, and its net worth at a given time.
The age of GCU is a prominent feature that allows members and policyholders to trust this organization. With its 128 years of successful operations, the organization has won the hearts of its clients.
Plus, the organization boasts an increasing value of its surplus assets which stood at $90 million in 2015. So, we can safely argue that GCU Medicare Supplement plans are covered by retained assets of the society.
However, no reliable credit rating agency has evaluated the organization’s investment strategies. So, investors have to rely on their speculations to predict company’s future.
The organization’s status as fraternal benefit society comes with the additional advantages its members can get.
In addition to organization’s pledge to not refuse its potential clients who have medical conditions of certain types of Hepatitis, Diabetes, and COPD, it also offers certain community services to those individuals who seek its membership.
These benefits include scholarship, student debt, and family fun discounts for the member and their family members.
GCU, which offers GCU Medicare Supplement plans has been around for the last 128 years. Although the organization offers reliable services at reasonable costs, only a few critiques consider it worth investing because of a limited pool of members and financial buffer.