American Progressive Life & Health Insurance Company of New York, Inc.

American Progressive Life & Health Insurance Company of New York, Inc.
6 International Drive
Rye Brook, N.Y.  10573-1068
United States

Strength and stability – these are two things that come to mind when American Progressive Life & Insurance Company is mentioned. The company was founded in 1945 and is part of the roster of companies under Universal American, a Fortune 500 company with families of companies that offer competitive healthcare programs and products at affordable prices. American Progressive is one of the country’s top providers of senior insurance products, as well as health and life insurances.

American Progressive is headquartered in New York and is managed by a team of experts, headed by president and chief executive officer Richard Barasch, executive vice president Gary Bryant,  executive vice president and chief financial officer Robert Waegelein, Financial Reporting senior vice president Dave Monroe, Finance & Treasurer vice president Richard Cannone, senior vice president and Brokerage Sales director William Daly, Sales vice president James MacKenzie, Administration vice president Judy M. Borrell, Marketing vice president Laurie Schaen, Compliance vice president John Mackin Jr., and assistant vice president Elizabeth Benz.

American Progressive specializes in products that cater to the senior market and their families. The company is promoting the following list of health products and benefits for senior care:

Medicare Supplement – a policy that provides coverage for deductibles, copayments and outpatient-related expenses;

Medicare Select – provides the advantages of a traditional Medicare Supplement at decreased rates;

Medicare Advantage – provides for a health insurance coverage under Medicare program;

Part D Prescription Drug – provides a buffer against the rising costs of prescription medicines;

Senior Whole Life – covers funeral and burial-related expenses;

Acute Care – caters to the costs that are incurred by seniors recovering from acute illnesses, surgical procedures and any injury that requires short-term and recuperative care;

Senior Dental Insurance – caters to seniors’ dental needs and Hospital Indemnity Insurance that will help cope with the increasing cost of hospital confinement; and

Hospital Indemnity Insurance – designed to protect seniors from increases in prices associated with hospital confinements.

The availability of American Progressive products are dependent on the particular area where the policy members reside. The range of products offered varies from state to state.

American Progressive provides an online overview of the company and its products at Information regarding the different healthcare and insurance are available through their online customer care, also found within the company website.

Like the seniors’ needs that consistently changes with time, American Progressive is a company that is in constant evolution in order to provide policies that can provide security and peace of mind to seniors, as well as their families.

No financial data is public or specifically available for American Progressive but the umbrella corporation Universal American has listed a net income of $21 million during the second quarter of 2010. For the evaluation of its business operations, Universal American uses a system of adjusted net income that excludes the declaration of the following items: investment losses, special items, non-recurring tax benefit and goodwill impairment. The company believes that non-declaration of these details does not affect the core business of the company and provides a more useful tool for evaluating the performance of the company from quarter to quarter. Financial results show that the parent company and its subsidiaries, American Progressive included, have increased revenues by 17 percent, up to $ 1.5 billion from posted revenue of $1.2 billion for the same period in 2009.