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
Pekin Insurance is no stranger to the American market, having been established in 1921 by a group of farmers who had initially wanted to bring auto insurance to a more affordable level. At the time, car policies had just emerged and came with a hefty price tag which the average vehicle owner could simply not shoulder. Not before long, The Farmers Automobile Insurance Association was formed.
The present operations of Pekin are a lot different from how it was at its inception, starting from a small donated office at the Tazewell Country Courthouse to the eight service offices it now occupies (including several buildings) to service clients from across the United States. It has grown exponentially to provide a full range of insurance products to Arizona, Illinois, Indiana, Iowa, Ohio, and Wisconsin, and a selected roster of insurance policies in Kansas, Kentucky, Louisiana, Michigan, Minnesota, Missouri, Nebraska, Pennsylvania, and Virginia. On its website, the company said it is preparing to further expand its coverage to include more states soon.
AM Best as of 2018 gave Pekin Insurance a financial strength rating of A- (Excellent) and a financial size of VIII, which means it holds between $100 million and $250 million in assets. Its long-term issuer credit rating is also A- with an outlook of “stable.”
The range of Medicare Supplement (Medigap) plans that Pekin offers varies according to the state where it is operating. It mostly recommends Plan G and Plan N, though you may ask your local provider if it offers any of the other policies from the list of 10 government-regulated Medigap plans.
Plan G and Plan N have plenty of similarities, such as 100% coverage of Medicare Part A coinsurance and hospital costs, Medicare Part B coinsurance or copayment, first three pints of blood, Part A hospice care coinsurance or copayment, skilled nursing facility care coinsurance and 80% coverage of foreign travel emergency costs.
They differ in 100% Part B excess charges coverage, which Plan G shoulders but Plan N does not. In addition, Plan N pay 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to a $50 copayment for emergency room visits that do not result in an inpatient admission.
What makes Pekin Medicare Insurance offerings more attractive is the additional benefits that it offers to policyholders. Note that all these extra perks come at no additional charge to the member. These include:
*Note that Silver&Fit is treated as an additional benefit and is not part of the insurance contract with Pekin. Thus, it may be terminated at any time and its availability will also be subject to your location. This fitness card is also non-transferrable and should be presented upfront every time the member visits a fitness center or YMCA.
The most ideal time to purchase a Medigap policy is during your Open Enrollment Period (OEP). The OEP starts on the first day of the month you turn 65 years old and ends six months after. Thus, if your birthday is June 15, then it begins June 1 and ends December 1. It’s important that you buy a policy then because you will be guaranteed approved for any plan that you apply for. You will also not be subjected to medical underwriting. However, if you miss this six-month window, then you run the risk of getting disapproved or charged a highly monthly premium than the standard rate.
We can help! Our dedicated team of licensed Medigap advisers are always ready to provide assistance for any issue need clarified. Whether you just want to verify information or require help in deciding what type of Medicare Supplement policy to purchase, we will gladly offer our time and attention. Get in touch with us at 1-800-354-1078.