Our Mission is to Become America’s Most Respected
Medicare Insurance Brokerage …
Treating clients as if they were our own family members
Treating clients as if they were our own family members
Bankers Fidelity Life is headquartered in Atlanta, Georgia, and has been operating since 1955. For over 60 years, the company served as a proven partner for senior citizens all over the United States with their health and life insurance needs. Included in its comprehensive suite of services are Medicare Supplements.
Bankers Fidelity Medicare Supplements offer all the standard benefits as mandated by the government for such policies, such as access to Medicare providers and healthcare facilities. Seniors holding Medicare Supplement policies generally have a choice in which doctor to consult or which hospital to go to because they almost all medical providers accept Medicare.
Medicare Supplements (Medigap) are standardized by the federal government as its way of making sure that seniors get all the benefits they need in their twilight years. While the Original Medicare already covers a lot, there still are plenty of out-of-pocket expenses that is beyond the government’s capacity to provide for free. Because of its, uniform Medigap policies where built, to be distributed and sold by private insurance agencies like Bankers Fidelity. Available plans, coverage, and other options may vary depending on the insurer and where it is located.
All Medigap plans cover 100% or part of these out-of-pocket expenses:
– Medicare Part A (hospice) coinsurance or copayment
– Medicare Part B coinsurance or copayment
– Blood (first 3 pints) received as inpatient in a hospital
Meanwhile, there are standard Medigap benefits that may or may not be offered or may have a higher coverage, depending on the plan. Bankers Fidelity offers eight of the 10 standard Medicare Supplement plans: A, B, F, HDF (High Deductible F), G, K, L, M, and N.
A |
B |
F |
G |
K |
L |
M |
N |
|
Part B coinsurance or copayment |
Yes |
Yes |
Yes |
Yes |
50% |
75% |
Yes |
Yes |
Blood (first 3 pints) received as hospital inpatient |
Yes |
Yes |
Yes |
Yes |
50% |
75% |
Yes |
Yes |
Part A hospicare care coinsurance or copayment |
Yes |
Yes |
Yes |
Yes |
50% |
75% |
Yes |
Yes |
Skilled nursing facility care coinsurance |
No |
No |
Yes |
Yes |
50% |
75% |
Yes |
Yes |
Part A deductible |
No |
Yes |
Yes |
Yes |
50% |
75% |
Yes |
Yes |
Part B deductible |
No |
No |
Yes |
No |
No |
No |
No |
No |
Part B excess charges |
No |
No |
Yes |
Yes |
No |
No |
No |
No |
Foreign travel exchange (up to plan limits) |
No |
No |
80% |
80% |
80% |
No |
80% |
80% |
Out-of-pocket limit |
n/a |
n/a |
n/a |
n/a |
$5,240 for 2018
$5,560 for 2019 |
$2,620 for 2018
$2,780 for 2019 |
n/a |
n/a |
When you turn 65 years old and already have an Original Medicare Part A and Part B policy, you instantly become qualified to purchase a Medigap plan. The best time to buy is during your Open Enrollment period, which is the six-month window that starts on the first day of your birth month and then ends six months after. During this period, insurance agencies are required by federal law to approve your application for coverage. They also are not allowed to charge higher monthly premiums just because you have a pre-existing health condition.
Take note that a Medigap policy is not transferrable and will cover only one person. Spouses should purchase their plans separately. In addition, if you delay your Original Medicare Part B enrollment because you still have a group health coverage from your (or your spouse’s) current employment, the Open Enrollment period for Medigap will not begin until you have Medicare Part B.
If you are not able to purchase a Medicare Supplement during your six-month Open Enrollment, you might be able to purchase the policy you want, may be rejected, or may be charged with higher monthly fees, depending on your health status.
Bankers Fidelity is known for its positive financial position and has an A- (Excellent) score from A.M. Best. This means that it has a history of quick claims processing, financial strength, and operations stability. The company is also lauded for its client-focused customer service practices, particularly with senior citizens. If you are not sure which Medigap plan to purchase yet, its team of agents will be happy to walk you through each one so that you can choose the best policy that is suited for your needs and budget.
In addition, as with other Medigap plans, Bankers Fidelity Medicare Supplements are portable, which means you can use them in any U.S. state where doctors and facilities accept Medicare. Your policy travels with you, thus giving you peace of mind that you are well taken care of wherever you go.