Elips and Lumico Medicare Supplement Review

About Lumico and Elips Life Medicare Supplement

Lumico Life Insurance Company, Previously Generation Life, is part of Swiss Re, a global financial service company with over 74 Trillion dollars currently under management. In some parts of the country the Elips Medicare Supplement is offered instead but it’s the same product with the same underwriting.  They’ve earned an A rating by A.M. Best which only a select few companies achieve that high of a rating.  Lumico is new in the Medicare Supplement market but the company has been around for over 50 years.

Ease of applying with our independent agent was made simple with Lumico.  They give you a choice of using an electronic application process which will allow the fastest processing time, or with a traditional paper application- If you like seamless, foolproof  electronic convenience, the online process is the way to go. Email, fax or traditional mail still works too. Regardless of how you apply, you’ll still get the same rates and individual service.

Lumico also offers Life insurance in many of the same states that the Medicare Suppelment is offered.  The rates for thier Final Expense Life are highly competitive and it’s more lenient than many other plans.  Your independant agent can get you quotes for both products and you can instantly see Lumico’s Life insurance buy using the Final Expense quoter through the link below.

Compare Quotes

Elips And Lumico Medicare Supplement Plan Choices

Plans A, F, G, and N are available in most states, but the only way you can get plans G or N is if your in your initial Part B open enrollment period.  If you can answer NO to all the health questions, then you may be able pass underwriting. If you are in a Guaranteed Issue period including ending your employer group insurance or COBRA, you can purchase plans A or G without any health underwriting and you don’t have to worry about passing the health question.

If you’re in you’re initial Part B enrollment period (the first 6 months that you have Medicare Part B), we recommend choosing plan G or N.  If you had Mediare before January 1,2020, you can purchase a plan F. Understand that anyone who has a Medicare Supplement plan F can keep it, and if you can’t pass the health questions in the future, you may have to keep it.  It’s anticipated that as the group 0f consumers get older, the group will become sicker, older and the rates will go up because there aren’t any younger consumers who are joining to help average out the group.

Applying for a Medicare Supplement if you’re not in the Part B open enrollment or Guaranteed Issue

The Lumico Medicare Supplement is one of the only companies that will consider you for coverage if you have some of the most difficult conditions to insure…that almost all other companies would automatically decline. Lumico will at least give you individualized consideration for these medical conditions:

  • Treatment by a psychiatrist for mental or nervous disorders
  • Degenerative bone disease, spinal stenosis and rheumatoid arthritis
  • Angina
  • Aortic or cardiac aneurysms
  • Cardiomyopathy
  • Congestive heart failure
  • Heart valve disorders
  • AFIB and other heart rhythm disorders

Conditions That May Be Acceptable

It’s unfortunate, but some times just the diagnosis or a single declinable medication alone could disqualify you, but Lumico may give you special consideration for certain medical conditions that other companies would not. This is not a guarantee that you would be accepted, but it’s something they are willing to talk with you about and hopefully approve. 

Rheumatoid, crippling or disabling arthritis is usually a decline with most Medicare supplements, but with Lumico they won’t automatically decline you.  They’ll inquire as to the severity and how or it limits your ability to perform activities of daily living without the assistance of another person or device like a walker, cane or wheelchair. They also want to know if you’re using injectables or infusions, or if your doctor advised you to have a surgery or physical therapy.

Diabetes and high blood pressure is a very common condition that keeps someone from being accepted. Your diabetes needs to be well-controlled and taking less than 50 units of insulin daily, no more than two oral pills or injectable medications for diabetes and no more than two pills for hypertension. Your blood pressure will need to be no higher than 150/90 with or without medications.  As long as you don’t have any of the following co-morbidity conditions, then there’s a good change your diabetes will be ok with them.

Prescription Medicine

  • Kidney disease or failure
  • Any type of heart disorder or congestive heart failure
  • Had a history of a stroke or TIA
  • Peripheral vascular disease, peripheral artery disease or peripheral venous thrombotic disease

Conditions that are an automatic decline for the Elips Medicare Supplement

If you have one of the conditions listed, you can call (614) 402-5160 to get advice on other plans that will accept you, or just fill out the form on the left and and independent agent will call you to find another Medicare Supplement company.

  • ALS (Lou Gehrig’s)
  • Renal Failure with dialysis or Chronic Kidney disease
  • COPD, emphysema, chronic bronchitis or asthma, chronic pulmonary fibrosis, cystic fibrosis, sarcoidosis
  • Diabetes with more that 50 units of insulin per day, or more than 2 blood pressure medication
  • Multiple Sclerosis
  • Muscular Dystrophy
  • Cirrhosis
  • Crippling or disabling arthritis
  • Parkinson’s
  • Osteoporosis with a history of fractures
  • Alzheimer’s, Dementia or other disorders including delirium or mild cognitive impairment
  • Myasthenia Gravis
  • Lupus
  • Previous or recommended organ transplants
  • Use of oxygen or a nebulizer more than one time per month
  • A defibrillator or combination defibrillator/pacemaker
  • Medications that are administered in a doctor’s office

30 Day “Free Look” – Your right to Cancel

Lumico will allow you to review your policy for 30 days after you acknowledge that you’ve received it. If for any reason, you decide that that you don’t want to keep the policy, Lumico will send you a full refund including the policy fee.  If Lumico paid out medical claims on your behalf during this time, you’ll get a prorated refund back to the date of the last claim paid.

Get help finding out if you qualify and getting the Lumico Medicare Supplement is simple. Call (614) 402-5160 or fill out the form to get rates for a Elips Life Medicare Supplement or call to find out if you qualify for coverage


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