American National Insurance Company, said that its subsidiaries, American National Life Insurance Company of Texas [ANTEX] and Standard Life and Accident Insurance Company [SLAICO], will discontinue the sale of individual medical expense insurance plans effective June 30, 2010.
According to American National, it will continue to be committed to health insurance market place and will focus on medicare supplement insurance, large group coverage and also other supplementary health products.
The company said that the decision to cease new sales was made after consideration of the recent healthcare legislation and based on knowledge that the companies’ individual medical expense plans will not meet the requirements of patient protection and affordable care act and the health care and education reconciliation Act of 2010 recently enacted by the US Federal Government.
Headquartered in Galveston, Texas, American National Insurance Company along with its subsidiaries offers a line of products and services, which include life insurance, annuities, health insurance, credit insurance, pension plan services and property and casualty insurance for personal lines, agribusiness, and targeted commercial exposures.