American National Insurance Company has announced that its subsidiaries, American National Life Insurance Company of Texas and Standard Life and Accident Insurance Company will discontinue the sale of individual medical expense insurance plans effective June 30, 2010.
American National Insurance Company said that it continues to be committed to the health insurance market place and will focus on Medicare supplement insurance and large group coverage as well as other supplementary health products.
According to the company, the decision to cease new sales was made after careful consideration of the recent healthcare legislation and based on the knowledge that the companies’ individual medical expense plans will not meet the requirements of the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010 recently enacted by the US Federal Government.
