Bankers Fidelity has been operating since 1955. They are a subsidiary of Atlantic American Corporation and have a few products designed to help Medicare beneficiaries. Their corporate headquarters is located in Atlanta, Georgia, and they do business as Bankers Life, Bankers Fidelity Assurance Company, and Bankers Fidelity Life Insurance Company.

Bankers Fidelity Supplemental Medicare Plans

Regarding the Supplemental Medicare plans, Medicare beneficiaries have two paths. Medicare Supplement plan, a Part D prescription drug plan, or an all-in-one Medicare Advantage plan.

We’ll cover Bankers Fidelity Medicare Supplement plans and then Medicare Advantage plans. Next, We’ll talk about Medicare Prescription drug plans and the financial strength of Bankers Fidelity.

We’ll wrap up by answering some frequently asked questions and going over how to enroll in a Bankers Fidelity Supplemental Medicare insurance plan.

Bankers Fidelity Medicare Supplement Plans

Regarding complete coverage, Medicare Supplements are where the buck stops. These plans work together with the Medicare program to limit and sometimes eliminate your out-of-pocket costs when using healthcare coverage. These costs include copayments, Medicare Part B coinsurance, and deductibles.

There are ten Medicare Supplement insurance plans to choose from. Bankers Fidelity offers a variety of them. However, most members choose one of the top three plans in the nation. It’s hard to beat the price and coverage levels of Medigap Plan F, Plan G, and Plan N.

Plan F and G both have a high deductible option. These plans are designated HDF and HDG.

Medicare Supplement policies are referred to as Medigap policies because they cover the gaps in Original Medicare. Medicare Supplement health insurance plans must have the same coverage regardless of which company you choose to enroll with. They don’t include drug coverage.

Bankers Fidelity Medicare Advantage Plans

Medicare Part C is named Medicare Advantage. These plans include all your Medicare Part and Part B benefits. In most cases, your prescription drug coverage is also included. Medicare Advantage plans are required to provide an annual maximum out-of-pocket limit.

In addition to having all these benefits compiled into one plan, they will typically have additional benefits and coverages that Medicare doesn’t cover. Many programs include gym memberships, over-the-counter benefits, dental, vision, and hearing coverage.

Bankers Fidelity doesn’t sell Medicare Advantage plans. If you want more information on Medicare Advantage, please let us know. We can have one of our licensed insurance agents assist you with finding an insurance carrier that does.

Bankers Fidelity Medicare Part D

Part D coverage is for picking up prescriptions at the pharmacy. Part D coverage is obtained through a stand-alone drug plan or a Medicare Advantage plan that includes drug coverage.

Financial Strength Ratings

We like to assess a company’s financial strength to determine a few things. The higher the rating, the better the company will be at the following:

  • Ability to pay claims promptly
  • Ability to keep rates competitive
  • lower rate increases

AM Best gives Bankers Fidelity a rating of “B++ Good.”

Reviews

Bankers Fidelity has over 60 years of providing outstanding services to their clients. They are well known for processing claims quickly. They’re more likely to accept clients with health concerns than their competitors. They have a more straightforward underwriting process.

FAQs

Does Bankers Fidelity Plan G cover Medicare deductible?

Bankers Fidelity Plan G covers the Medicare Part A deductible. It doesn’t cover the Medicare Part B deductible.

What costs do Bankers Fidelity Medicare Supplements cover?

Depending on the plan letter you enroll with, you could have coverage for the Medicare benefits below:

  • Medicare Part A deductible
  • Medicare Part B deductible
  • Skilled Nursing Facility copays
  • Hospice care coinsurance
  • Part B excess charges
  • foreign travel emergency
  • Cost of pints of blood
  • and other medical costs related to Medicare Parts A and B

Is Bankers Life and Bankers Fidelity the same?

Yes! Bankers Life and Bankers Fidelity are affiliated.

Is Bankers Life and Colonial Penn the same company?

Yes! Colonial Penn is a subsidiary of Bankers Life.

Does Bankers Fidelity offer dental insurance?

No. Bankers Fidelity does offer other insurance products such as critical illness and hospital plans.

Do Bankers Fidelity supplemental plans have prescription drug coverage?

No!. Bankers Fidelity doesn’t offer Medicare Part D plans or Medicare Advantage plans.

What is the price of Bankers Fidelity Plan G?

Medigap prices will vary based on serval factors. Some include your age and where you live. You can expect to pay somewhere between $100 and $220 monthly premium for Plan G.

Does Bankers Fidelity Plan G cover the Part B coinsurance?

Yes. The Bankers Fidelity Plan G covers Part B coinsurance at 100%. The best time to enroll in a Medicare Supplement is during your Open Enrollment period.

How can you enroll in Bankers Fidelity Plan G?

Yes! The following conditions must apply.

You must be eligible and enrolled in Medicare Parts A and B.

You must live in an area where Bankers Fidelity offers the plan.

How to Enroll in a Bankers Fidelity Medicare Plan

Choosing the right plan for your needs is one of your most important decisions. Don’t do it alone. We can assist with education and help you determine which programs fit your individual needs and wants once you settle on the proper Medicare Advantage or Medicare Supplement insurance policy.

We’ll make the enrollment process painless and fast. For help with this crucial decision, simply fill out our online request form. If you need help now and don’t want to wait, give us a call!

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by Lindsay Malzone, Lindsay Malzone is the Medicare expert for Medigap.com. She's been contributing to many well-known publications as an industry expert since 2017. Her passion is educating Medicare beneficiaries on all their supplemental Medicare options so they can make an informed decision on their healthcare coverage.