The Capitol Life Insurance Company started in Colorado in 1905, and Liberty Bankers Life Insurance Company bought them in 2007. The current headquarters is in Dallas, Texas, and the purchase made them part of the Liberty Bankers Insurance Group.

The Bankers Insurance Group comprises The Capitol Life Insurance Company, Liberty Bankers Life Insurance Company, and American Benefit Life Insurance Company. They have a long track record of helping their insurance clients’ needs.

The Capitol Life Supplemental Medicare Plans

When you start researching Medicare, you learn that there are a few options to investigate. Supplemental Medicare plans help to offset the health care costs you’re responsible for when using your health insurance.

One direction you can elect is to stay on Original Medicare, add a Medigap, and Part D Prescription drug plan.

The other direction is to enroll in a Medicare Advantage plan. These plans will give you another way to receive your Medicare benefits. They roll your Medicare into an all-in-one plan.

We’ll review The Capitol Life Medicare Supplement plans and then explain how Medicare Advantage works. Next, we’ll discuss Medicare Part D and Capitol Life’s financial strength. We’ll wrap up with some common questions and explain how to get help with Supplemental Medicare plans with The Capitol Life.

The Capitol Life Medicare Supplement Plans

When it comes to comprehensive coverage, it doesn’t get better than Medicare Supplement insurance. These plans work as secondary coverage to your Original Medicare. Medicare Supplement plans are also known as Medigap plans. They will help cover your portion of the Medicare cost-share for services rendered under Medicare Part A and B.

These Medigap health care plans help cover items such as the Medicare Part A deductible, Part B coinsurance, and excess charges. Since these plans are secondary to Medicare, you retain the ability to use the program for any healthcare provider nationwide that accepts Medicare. There is also no need to get a referral to see specialists. This ability makes Medigap plans very enticing for people enrolled in Medicare.

Capital Life Medigap Options

Medigap plans come in 10 different plan letters from which to choose. The Capitol Life Medicare Supplement plans include:

Plan F

Plan F has been the most popular for several years. It’s no surprise why as it picks up 100% of the cost-share you would usually be required to pay. Simply pay your Plan F premium and pay nothing when you use health care services covered under Medicare Part A or Medicare Part B. However, Plan F isn’t an option for people that are new to Medicare.

Plan G

Plan G is the most popular plan for Medicare beneficiaries starting Medicare. This plan will offer almost the same level of coverage as Plan F. The only difference is that you must pay the small annual Part B deductible.

Plan N

Plan N rounds out the top three Medicare Supplement plans. This plan offers one of the best bangs for your buck! The coverage for Plan N is similar to that of Plan G. The main difference is that you’ll have small copays for office visits and the emergency room.

Plan A

Plan A is a basic plan. For the most part, It offers minimal benefit other than covering. The 20% coinsurance left over by Medicare.

The Capitol Life Medicare Advantage Plans

Medicare Part C plans are required to include all the same coverage as Original Medicare. Most Medicare Advantage health plans will also contain Medicare prescription drug coverage and plan extras that Orignal Medicare doesn’t cover.

The plan extras included in Medicare Advantage plans will vary depending on where you live and the policy you select. Some of the amenities could consist of:

  • Gym membership
  • Food card allowance
  • Transportation
  • Dental
  • Vision
  • Hearing
  • Over-the-counter benefits

Capitol Life Insurance doesn’t include Medicare Advantage plans in its portfolio. If this style coverage sounds like something you prefer, let us know! Our licensed insurance agents can assist in finding a Medicare Advantage plan that fits your individual needs.

The Capitol Life Medicare Part D

Medicare Part D is Medicare’s standalone coverage for prescription drugs that are filled at the pharmacy.

Private health insurance companies administer both Part D plans and Medicare Advantage. These insurance companies will set their plans’ rules, terms, and conditions.

The Centers for Medicare and Medicaid Services regulate Medicare Advantage and Part D plans.

The Capitol Life doesn’t offer Part D plans either. If you need standalone drug coverage, we can assist you as well.

The Capitol Life Medicare Pros and Cons

Pros

  • Excellent financial strength rating
  • Household discounts
  • 12-month rate increase
  • Conservative rate increases

Cons

  • Strict underwriting
  • No additional Medicare plan options, only Medigap

Financial Strength Ratings

Several entities are the standard for rating insurance companies’ financial strength. Knowing about a company’s financial strength will give a great picture of how they handle its business.

Higher financial strength ratings show how companies perform in a few areas.

  • More competitive rates
  • Faster claims processing
  • Conservative rate increases

The Capitol Life Insurance Company has received an “A- Excellent rating.”

This rating is the 4th highest possible, showing that the company should provide excellent service and do well in the above items.

Reviews

The Capitol Life Insurance company has provided excellent service and policies for over 100 years. Their Medigap plans offer fast underwriting and approval, a 7% household discount in most states, and a 12-month rate lock. With the backing of the Liberty Bankers Insurance Group, they have plenty of capital to pay claims and ensure their beneficiaries with excellent coverage.

FAQs

Is Capitol life a good company?

The Capitol Life Insurance company is a solid choice for your insurance coverage. They are backed by the Liberty Insurance Group and have an “A-” AM Best rating.

Which Medicare Supplement plan has the highest level of coverage?

Plan F has the most comprehensive coverage. Unfortunately, it’s no longer available for beneficiaries that became eligible for Medicare after 2020. Plan G has the highest level of coverage that beneficiaries that are new to Medicare can choose.

What are the benefits of Capitol life?

The Capitol Life Medigap policies have a quick underwriting process. Sometimes you even have an answer as soon as their application is complete. They also allow a 12-month rate lock and freedom to choose doctors that accept Medicare nationwide, with no referrals.

What are the monthly premiums for Medicare Supplement plans?

Depending on where you live and which plan you choose are two things that could impact pricing. Several other factors can affect your monthly premium. The average cost of a Medigap plan can run from $80 to $300 per month.

What is a Medicare Supplement Plan F?

Medicare Supplement Plan F is the most popular Medigap insurance plan. It covers all your Medicare cost share associated with Medicare Parts A and B.

How to Enroll in a Capitol Life Medicare Plan

Enrolling in your Supplemental Medicare health insurance plan is a significant decision. The process can be a bit much to deal with without assistance. There is so much information out there that it can be an overload.

Our licensed insurance agents can help you make an educated decision on your Medicare coverage. Give us a call or fill out our online request form for assistance.

Written By:
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Lindsay Malzone, Lindsay Malzone is the Medicare editor for Medigap.com. She's been contributing to many well-known publications 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.
Reviewed By:
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Rodolfo Marrero, Rodolfo Marrero is one of the co-founders at Medigap.com. He has been helping consumers find the right coverage since the site was founded in 2013. Rodolfo is a licensed insurance agent that works hand-in-hand with the team to ensure the accuracy of the content.