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Medicare Supplement Insurance

Medicare Supplement Insurance underwritten by

Colonial Penn Life Insurance Company

Help at every step of the way.

Call (888) 910-3133

Get a Quote

Give us a call at (888) 910-3133 or fill out the form below and an agent/producer
will contact you directly.

The purpose of this communication is the solicitation of insurance.
Contact will be made by an insurance agent/producer or the insurance company.

What is Medicare Supplement insurance?

Medicare Supplement insurance is sold by private companies. Sometimes called "Medigap," it can help you pay for out-of-pocket health care expenses that Medicare doesn't cover, such as deductibles, coinsurance, copayments, or outpatient services.

Medicare Supplement insurance policies through Bankers Life are not available in MA and are underwritten by Colonial Penn Life Insurance Company. Medicare Supplement insurance policies in NY are underwritten by Bankers Conseco Life Insurance Company.

Benefits of Medicare Supplement insurance

Significant reduction in out-of-pocket-costs related to health care needs with Medicare Supplement Insurance

Helps lower your out-of-pocket costs

Medicare supplement insurance from Bankers Life partners provides coverage even during travel.

Offers coverage that travels with you

Continued health care coverage, even if you develop health problems with Medicare Supplement Insurance.

Provides permanent coverage, even if you develop health problems

Available Medicare supplemental insurance coverage without changing your doctor; visit any hospital without the hassle of adhering to networks or referrals; at any location of your choice.

Allows you to keep your doctor and visit any hospital - no networks, no referrals needed

What are the four parts of Medicare and what do they offer?

Medicare Parts A and B are known as “Original Medicare.” Parts C and D are voluntary coverages.

Hospital insurance

Medicare Part A
Hospital insurance

Covers inpatient hospital stays, care in a skilled nursing facility, hospice care and some home health care

Medicare Advantage

Medicare Part B
Medical insurance

Covers certain doctors' services, outpatient care, medical supplies and preventive services

Medical insurance

Medicare Part C
Medicare Advantage

Includes benefits equal to Parts A and B. Offers additional benefits that vary depending on the company and plan you choose

Prescription drug coverage

Medicare Part D
Prescription drug coverage

Covers many medications that are prescribed by your doctor or other qualified health professionals

Compare the features of Colonial Penn's Medicare Supplement insurance plans

To help you pay for out-of-pocket medical costs that Medicare may not cover, we offer Medicare Supplement insurance plans A, B, C¹, D², F, F with high deductible, G, K, L, M and N. Our knowledgeable agents/producers can help explain how each plan works and answer your questions related to Medicare or Medicare Supplement insurance.

Plan PLAN
A
PLAN
B
PLAN
PLAN
PLAN
F
PLAN
FH³
PLAN
G
PLAN
K⁴
PLAN
L
PLAN
M
PLAN
N⁵
To help you pay for out-of-pocket medical costs that Medicare may not cover, we offer Medicare supplement insurance plans A, B, C, D, F, FH, G, K, L, M, & N.
Medicare Part B coinsurance 50% 75%
Blood (first 3 pints) 50% 75%
Parts A Hospice care coinsurance or copayment 50% 75%
Skilled Nursing facility care coinsurance     50% 75%
Medicare Part A deductible   50% 75% 50%
Medicare Part B deductible              
Medicare Part B excess charges                
Foreign travel emergency (up to plan limit) ⁶     UP TO
80%
UP TO
80%
UP TO
80%
UP TO
80%
UP TO
80%
    UP TO
80%
UP TO
80%

¹Plan C is offered in: Arizona, Delaware, Georgia, Iowa, Illinois, Maryland, Nebraska, Nevada, New Hampshire, New Jersey, Ohio and South Carolina

² Plan D is not offered in: [California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Hawaii, Illinois, Maine, Minnesota, Missouri, Montana, North Carolina, Nebraska, New Jersey, New York, Pennsylvania, Texas, Utah, Virginia, Vermont, Washington, and Wisconsin].

³ The high-deductible plan F pays the same benefits as plan F after one has paid a calendar year deductible (amount adjusts annually). Benefits from high-deductible plan F will not begin until out-of-pocket expenses exceed this calendar-year deductible.

⁴ Plans K and L have out-of-pocket limits which are set annually by the federal government. After the out-of-pocket limits are met the Medicare Supplement plan pays 100% of the covered Medicare Services for the remainder of the calendar year.

⁵ Plan N requires a copayment of up to $20 for doctor’s visits and up to a $50 copayment for emergency room visits

⁶ Covers foreign travel emergency care if it begins during the first 60 days of your trip and if Medicare doesn't otherwise cover the care. Includes a lifetime maximum benefit of [$50,000] with a [$250] calendar year deductible.

Plans C and D are not available in Florida.

How do I know if I'm eligible for Medicare Supplement insurance?

To buy a Medicare Supplement plan, you must be enrolled in Original Medicare Parts A & B. Legal residents must live in the U.S. for at least five years in a row, including the five years before applying for Medicare. You must live in the state where the policy is offered, and be age 65 or over or, in some states, under age 65 with a qualifying disability.

Call (888) 910-3133 or visit get a quote to learn what Medicare plan you may be eligible for.

Why Bankers Life?

Simplified application process

Our knowledgeable insurance agents/producers sit down with you in your home to understand your preferences and goals. They'll provide you with simple, clear choices that meet your individual financial needs.

Personalized approach

With a history dating back to 1879, there are some things that never change. At Bankers Life, that means taking a personalized approach to helping the individuals and families we serve. As you enter and navigate retirement, we will be by your side every step of the way, helping to protect your financial security.

Service you can trust

Our agents/producers live in the communities they serve and travel to your home or business. Our goal is to provide excellent service to every policyholder and make your life easier when it comes to your claims.

In 2018, Bankers Life paid Medicare Supplement insurance claims to over 300,000 policyholders, totaling $464 million.

Bankers Life is accredited by the Better Business Bureau with an A rating as of April 2017, in addition to currently holding an A- (Excellent) rating by A.M. Best Company for our financial strength.

FAQs

Medicare is a federal health insurance program for people who are:

  • Age 65 and older.
  • Younger then 65 with disabilities
  • Any age with end-stage renal disease (ESRD), a type of permanent kidney failure requiring dialysis or a kidney transplant.

Medicare has helped millions of Americans pay for the health care services they need. You’ve likely contributed to the program through the Social Security taxes deducted from your paycheck.

Medicare Part A generally covers the following:

  • Hospital care
  • Skilled nursing facility care
  • Nursing home care when you need more then custodial care
  • Hospice care
  • Home health services

Even when Medicare pays the cost of a service or item, you generally have your own portion to pay, in the form of deductibles, coinsurance and copayments.

Medicare Part B covers two types of services:

  • Medically necessary services are needed to diagnose or treat your medical condition and must meet accepted standards of medical practice.
  • Preventive services are intended to prevent illnesses like flu and detect serious conditions at an early stage, when treatment has the best chance of success.

Medicare Part B covers health care costs like:

  • Clinical trials
  • Ambulance services
  • Durable medical equipment
  • Mental health
  • Inpatient stays
  • Outpatient care
  • Partial hospitalization
  • Getting a second opinion before surgery
  • Some outpatient prescription drugs

Even when Medicare covers a service or item, you generally have your own portion to pay, in the form of deductibles, coinsurance and copayments.

Medicare does not cover all items and services. Some of these are:

  • Long-term care
  • Custodial care
  • Most forms of dental care
  • Eye exams for prescribing glasses
  • Dentures
  • Cosmetic surgery
  • Acupuncture
  • Hearing aids and fitting exams
  • Routine foot care

Medicare Supplement insurance offers a number of advantages:

  • You get help paying out-of-pocket medical expenses like copays and deductibles, which makes it easier to manage your health care budget.
  • Your Medicare Supplement coverage is valid everywhere in the U.S.
  • You can visit any specialists-with no referral needed-as long as the provider accepts Medicare patients.
  • You can choose any doctor or hospital that accepts Medicare patients.
  • You can choose from a variety of plan types to help meet your needs now and in the future.

The best time to buy Medicare Supplement insurance is during your six-month Medigap open-enrollment period. During this time, you can buy any Medicare Supplement policy sold in your state, regardless of any pre-existing conditions. You will not be required to answer any medical questions during this time.

Step one in obtaining Medicare Supplement insurance is completing an application. If you are not in your open-enrollment period or otherwise qualify for guarantee issue, you’ll need to answer some medical questions. Our underwriters will review your medical history to determine if your application is acceptable, and to identify your risk classification. Your premium amount will be determined in part by the amount of insurance coverage you request.