Bankers life logo search site BLOG FAQ ABOUT US UPDATE LOCATION Medicare Supplement Insurance underwritten by Colonial Penn Life Insurance Company Help at every step of the way. Call (888) 910-3133 Get a Quote 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 Helps lower your out-of-pocket costs Offers coverage that travels with you† Provides permanent coverage, even if you develop health problems 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. Medicare Part A Hospital insurance Covers inpatient hospital stays, up to 100 days of care in a skilled nursing facility, hospice care and some home health care Medicare Part B Medical insurance Covers certain doctors' services, outpatient care, medical supplies and preventive services Medicare Part C Medicare Advantage Includes benefits equal to Parts A and B. Offers additional benefits that vary, usually within a certain provider network, depending on the company and plan you choose 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, G with high deductible, 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 C⁶ PLAN D² PLAN F⁶ PLAN FH⁶ PLAN G PLAN GH³ PLAN K⁴ PLAN L⁴ 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, GH, 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 deductible⁶ Medicare Part B excess charges Foreign travel emergency (up to plan limit)⁷ UP TO 80% 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 Jersey, Ohio and South Carolina ² Plan D is not offered in: Connecticut, Florida, Maine, Minnesota, New York, Pennsylvania, Vermont, and Wisconsin. ³ The High-Deductible Plan F and the High-Deductible Plan G pay the same benefits as Plan F and Plan G after one has paid a calendar year deductible (amount adjusts annually). Benefits from the High-Deductible Plan F and the High-Deductible Plan G 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 that do not result in an inpatient admission. ⁶ Plans C, F and High Deductible F are only available to persons who are first eligible for Medicare before 1/1/2020. ⁷ 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. 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) 987-9594 or visit get a quote to learn what supplemental health 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 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 What is Medicare? What does Medicare Part A cover? What does Medicare Part B cover? Is anything not covered by Medicare Parts A and Part B? Why should I purchase a Medicare Supplement insurance policy? When is the best time to buy Medicare Supplement insurance? How do I apply for Medicare Supplement insurance? Medicare Supplement insurance Life insurance Term Life Insurance Whole Life Insurance Universal Life Insurance Juvenile whole life insurance Long-term care insurance Supplemental health insurance Critical Illness insurance Hospital Indemnity insurance Annuities Find a branch Find the address and phone number of your local Bankers Life office for assistance. "Bankers Life products have given us the peace of mind that we are taken care of. Retirement should be about fun, and you can't have fun if you’re worrying about your medical bills and insurance." -Jack and Bernadette Ernissee, Florida Bankers Life Facebook page Bankers Life YouTube page Bankers Life LinkedIn page Site Map Terms & Conditions Privacy Center CNOInc.com © Copyright 2021 Bankers Life A.M. Best: A- (Excellent). This rating, as of 2019, is their assessment of our relative financial strength and ability to meet contractual obligations. This rating is the fourth highest of thirteen ratings. The rating applies to the general financial strength of the company as a whole and is not specific to the company's Medicare supplement insurance business. This is a Medicare Supplement insurance solicitation. An insurance agent/producer may contact you. MEDICARE SUPPLEMENT INSURANCE POLICIES ARE UNDERWRITTEN BY COLONIAL PENN LIFE INSURANCE COMPANY WHICH ASSUMES SOLE FINANCIAL RESPONSIBILITIES FOR THOSE POLICIES. COLONIAL PENN, BANKERS LIFE AND THEIR LICENSED AGENTS/PRODUCERS ARE NOT CONNECTED WITH OR ENDORSED BY THE U.S. GOVERNMENT OR THE FEDERAL MEDICARE PROGRAM. THESE POLICIES HAVE LIMITATIONS AND EXCLUSIONS. FOR COSTS AND COMPLETE DETAILS OF COVERAGE, CONTACT AN INSURANCE AGENT/PRODUCER. THESE PRODUCTS AND ITS FEATURES ARE SUBJECT TO STATE AVAILABILITY AND MAY VARY BY STATE. MEDICARE SUPPLEMENT INSURANCE UNDERWRITTEN BY COLONIAL PENN LIFE INSURANCE COMPANY. POLICY FORMS CPL-GR-A80A, CPL-GR-A80B, CPL-GR-A80C⁶, CPL-GR-A80D, CPL-GR-A80F⁶, CPL-GR-A80FH⁶, CPL-GR-A80G, CPL-GR-A80GH, CPL-GR-A80K, CPL-GR-A80L, CPL-GR-A80M, CPL-GR-A80N. IN OHIO, POLICY FORMS ARE CPL-GR-A95A, CPL-GR-A95B, CPL-GR-A95C⁶, CPL-GR-A95D, CPL-GR-A95F⁶, CPL-GR-A95FH⁶, CPL-GR-A95G, CPL-GR-A95GH, CPL-GR-A95K, CPL-GR-A95L, CPL-GR-A95M, CPL-GR-A95N. CPL-GR-A80C AND CPL-GR-A80D ARE NOT AVAILABLE IN FLORIDA. †COVERAGE IS LIMITED TO THE UNITED STATES ONLY, WITH THE EXCEPTION OF MEDICALLY NECESSARY EMERGENCY CARE IN A FOREIGN COUNTRY AVAILABLE UNDER PLANS C⁶, D, F⁶, FH⁶, G, GH, M, AND N. ‡COVERAGE IS LIMITED TO MEDICARE ELIGIBLE EXPENSES. BENEFITS PAID BY MEDICARE WILL NOT BE DUPLICATED. MEDICARE SUPPLEMENT INSURANCE POLICIES SOLD IN THE STATE OF WISCONSIN AND MINNESOTA DIFFER FROM THE ONES ADVERTISED ABOVE. IF YOU ARE A WISCONSIN OR MINNESOTA RESIDENT, CONTACT YOUR LOCAL AGENT/PRODUCER FOR MORE INFORMATION. ALL LINES OF BUSINESS IN NEW YORK ARE UNDERWRITTEN BY BANKERS CONSECO LIFE INSURANCE COMPANY. POLICY FORM PLANS ARE BLNY-GR-A80A(L14), BLNY-GR-A80B(L14), BLNY-GR-A80F(14)⁶, BLNY-GR-A80FH(14)⁶, BLNY-GR-A80G(14), BLNY-GR-A80GH(14), BLNY-GR-A80K(14), BLNY-GR-A80L(14), BLNY-GR-A80M(14), BLNY-GR-A80N(14). AN OUTLINE OF COVERAGE IS AVAILABLE UPON REQUEST. WHEN CHANGING INSURANCE CARRIERS, YOUR APPLICATION MAY BE UNDERWRITTEN AND YOU MAY BE RATED OR DENIED COVERAGE. THIS POLICY MEETS THE MINIMUM STANDARDS FOR MEDICARE SUPPLEMENT INSURANCE AS DEFINED BY THE NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES. THE EXPECTED BENEFIT RATIO FOR THIS POLICY IS 65.9 TO 68.3 PERCENT. THIS RATIO IS THE PORTION OF FUTURE PREMIUMS THAT THE COMPANY EXPECTS TO RETURN AS BENEFITS, WHEN AVERAGED OVER ALL PEOPLE WITH THIS POLICY. MEDICARE SUPPLEMENT PRODUCTS ARE AVAILABLE IN MANY STATES TO INDIVIDUALS UNDER AGE 65 QUALIFYING AS DISABLED. ASK YOUR AGENT/PRODUCER ABOUT AVAILABILITY. ADDITIONAL NEW YORK STATE RESIDENT INFORMATION ADDITIONAL OREGON STATE RESIDENT INFORMATION BANKERS LIFE IS THE MARKETING BRAND OF BANKERS LIFE AND CASUALTY COMPANY, MEDICARE SUPPLEMENT INSURANCE POLICIES SOLD BY COLONIAL PENN LIFE INSURANCE COMPANY AND SELECT POLICIES SOLD IN NEW YORK BY BANKERS CONSECO LIFE INSURANCE COMPANY (BCLIC). BCLIC IS AUTHORIZED TO SELL INSURANCE IN NEW YORK. ADMINISTRATIVE OFFICE: CHICAGO, ILLINOIS. 185599-0720