Bankers Fidelity Medicare Supplement Review

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Bankers Fidelity Company Information

Bankers Fidelity Life is a 65 year old subsidiary company that’s owned by Atlantic American Corporation.  The newest subsidiary is Bankers Fidelity Assurance. They specialize in senior insurance products including Medicare Supplements, Cancer, Final Expense and Short Term Care Insurance.

The home office is located in Atlanta Georgia and they offer products in over 45 states and Washington D.C.  Bankers Fidelity has earned an A-(Excellent) rating with A.M. Best.  We highly recommend Bankers Fidelity Medicare Supplements. They’re one of the most competitively priced supplements in the country.

Bankers Fidelity Medicare Supplement Features

  • There are no provider networks. You can use any doctor, hospital or lab or other facility that accepts Medicare.
  • Household discounts up to 10% depending on the state you live in.  It’s available if two or more individuals living in the same household together for the last 12 months or a married couple even if you don’t live in the same house. You won’t lose the discount due to the death of a spouse except in the state of Ohio.
  • If you’re not healthy enough to qualify for their Preferred rates, you might qualify for their Standard rates.
  • You can pay your premiums with a bank account or a credit card issued by  American Express, Master Card, VISA or Discover
  • You’re not required to do a telephone interview when you apply during the Medicare Supplement open enrollment

 Plan Benefits with Bankers Fidelity Medicare Supplement plans

The plans available to you will depend on the area you live in.

PLAN A


Medicare Part A coinsurance and hospital coverage (up to an additional 365 days after Medicare benefits are used up)

Medicare Part B coinsurance or copayment

Blood (first three pints)

Part A hospice care coinsurance or copayment

PLAN B


Everything that Plan A covers plus the Part A deductible

PLAN F and High Deductible F (available if you were eligible for Medicare before January 1, 2020)


Medicare Part A coinsurance and hospital coverage (up to an additional 365 days after Medicare benefits are used up)

Medicare Part B coinsurance or copayment

Blood (first three pints)

Part A hospice care coinsurance or copayment

Part A deductible

Skilled nursing facility coinsurance

Part B deductible

Part B excess charges

Foreign travel emergency (up to plan limits)

The high deductible option requires first paying a an annual deductible before the plan begins to pay. Once the plan deductible is met, the plan pays 100% of
covered services for the rest of the calendar year.

PLAN G and High Deductible G


Everything that Plan F covers except the Part B deductible

The high deductible option requires first paying a an annual deductible before the plan begins to pay. The plan pays 100% of covered services after the deductible is met.
covered services for the rest of the calendar year. High deductible plan G does not cover the Medicare Part B deductible. However, the Part B deductible counts  your payment toward meeting the plan deductible.

PLAN K


100% of Medicare Part A coinsurance and hospital coverage (up to an additional 365 days after Medicare benefits are used up)

50% of Medicare Part B coinsurance or copayment, Blood (first three pints), Part A hospice care coinsurance or copayment, Part A deductible, Skilled nursing facility coinsurance

Your total out of pocket costs is limited to the annual maximum

PLAN N


Medicare Part A coinsurance and hospital coverage (up to an additional 365 days after Medicare benefits are used up)

Medicare Part B coinsurance or copayment-Plan N pays 100% of the Part B coinsurance, except for a co-payment of up to $20 for some office visits and up to a $50 co-payment for emergency room visits that do not result in an inpatient
admission.

Blood (first three pints)

Part A hospice care coinsurance or copayment

Part A deductible

Skilled nursing facility coinsurance

Applying for Bankers Fidelity Medicare Supplement During Open Enrollment

Your Medicare Supplement Open enrollment period starts the first day of the month you turn 65 (some states extend this to applicants under age 65) and enrolled in Medicare Part B.  If your birthday falls on the first day of the month, it starts the month before. You can apply for a Bankers Medicare Supplement up to 6 months before your Part B effective date and up to 6 months after without medical underwriting.

If you’re a tobacco user, you can get non-tobacco rates in most states during your Medicare Supplement Open Enrollment.  Bankers Fidelity considers smoking cigarettes or cigars, use of other nicotine products in any form, e-cigarettes and vaping tobacco use. You will get tobacco rates if you live in Alabama, Indiana, Oklahoma, Arizona, Kansas, South Carolina, Colorado, Mississippi, South Dakota, Delaware, Montana, Texas, DC,  Nevada, West Virginia, Georgia, New Mexico, or Wyoming even if your in open enrollment.

You don’t have to do a telephone interview if you’re applying during the open enrollment period.

What you need to know if you’re not applying for a Bankers Medicare Supplement in Open Enrollment

Bankers Fidelity uses a height and weight chart to determine you eligibility.  They’re guidelines are more lenient than most companies.  You might be able to qualify for their Standard rate if you’re having a hard time finding a company that will accept you. You can check your height and weight in the chart to see if your within their guidelines.

Acceptable Conditions that have prevented you from finding coverage

It can be very difficult and frustrating if your trying to get a Medicare supplement with certain health conditions. Bankers Fidelity will accept many of them at their standard rate which would otherwise be declined with other companies. Every company has it’s own medical underwriting guidelines. Here’s a list of some of their sweet spots.

 

 

 

 

 

  • Diabetes with more than 50 units of insulin per day
  • The diagnosis, treatment or medication for spinal stenosis
  • B-12 injections
  • Seeing a psychologist or going for counseling
  • Atrial fibrillation
  • Major depression
  • Peripheral vascular disease
  • Osteoporosis and receiving infusions
  • Chron’s disease
  • Macular degeneration if you don’t have injections

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