About Federal Life Insurance
Federal Life Medicare Supplement plans also known as Medigap Supplement insurance plans, are health insurance policies that help cover costs not covered by Original Medicare. These include plans that cover basic needs like hospitalizations, doctor visits and offer more comprehensive coverage for things foreign travel and the Medicare Part B Excess charges.
Federal Life Insurance Company has been helping people achieve their financial goals since 1899 through products and services that protect them and their families. The company remains committed to providing quality products and services that meet the needs of its customers.
Federal Life Insurance products are reliable, and their service is top-notch, which is why they’ve been able to stay in business for so long. When you need assistance, Federal Life is always there for you.
Federal Life Medicare Supplement Insurance Plans
If you’re on Medicare and looking for additional coverage, Federal Life offers a variety of Medicare Supplement plans. These plans are available with different levels of coverage to meet the needs of each Medicare eligible individual.
Reduce Your Out-of-Pocket Expenses
Federal Life Insurance Company’s Medicare supplement policy can help you lower out-of-pocket costs for healthcare. This policy can help pay your Medicare deductibles, coinsurance, and copayments, so you don’t have to worry about those expenses and can focus on your health instead. Also, you’ll have more coverage than Medicare alone.
Federal Life helps you live a healthy life without worrying about the high cost of health care. It offers benefits like:
- Quality health care coverage at an affordable price.
- Freedom to choose your health care providers and the best plan for your needs.
- Your health care coverage goes with you wherever you go in the USA.
- Household premium discounts, if applicable in your state of residence.
Medicare Plan Benefits
Medicare Part A Hospital Coinsurance Days 61-90
Medicare Part A Hospital Coinsurance Days 91-150
Skilled Nursing Facility Care Coinsurance
Medicare Part A Deductible
Medicare Part B Deductible
Medicare Part B Excess
Foreign Travel Emergency
Supplement Your Medicare Coverage
If you have Federal Life Medicare supplement insurance, your policy can help pay some of the eligible costs that Medicare Part A and Part B don’t cover. However, charges may exceed what Medicare and your policy pay. Ensure you understand what your policy covers and doesn’t cover so you can plan accordingly. Here are the factors to understand:
Know about the Plan Availability
Per MACRA or the Medicare Access and CHIP Reauthorization Act of 2015, if you are new to Medicare, you may not be able to purchase a Medicare supplement plan that covers the Medicare Part B deductible. Here are the conditions to meet:
- If you became eligible for Medicare on January 1, 2020, or later, you can’t purchase Plans C or F
- But, if you were eligible for Medicare before January 1, 2020, you can still buy these plans
These MACRA regulations do not impact other Medicare supplement plans.
What Is Medicare Part A Hospital Coverage?
- Deductible and Coinsurance
After the Medicare Part A deductible, Plans F, G, and N will pay your inpatient hospital deductible for each benefit period. This means that from your first through 60th day of hospital confinement, Medicare will cover all eligible expenses for services like room and board, general nursing, and miscellaneous hospital services and supplies.
From the 61st day through the 90th day of your hospital stay, these three plans will also pay Medicare’s coinsurance. And, if you need to stay in the hospital from the 91st day until the 150th day, Plans F, G, and N will also pay the coinsurance for each Lifetime Reserve day used.
- Extended Hospital Coverage
If you’re hospitalized for more than 150 days in a given year and have exhausted the 60 days of Medicare Lifetime Reserve, Plans A, F, G, and N will cover expenses eligible under Medicare Part A for hospitalization at the rate allowed in Medicare, up to a lifetime maximum of 365 additional days.
- Benefit for Blood
Each year, Medicare has a deductible for blood covering the cost of the first three pints. Plans A, F, G, and N pay this deductible, so you don’t have to worry about it.
Skilled Nursing Facility Care
Medicare covers all eligible expenses for the first 20 days of skilled nursing care. But, from 21st until the 100th day, you’ll need to pay a coinsurance amount, which your Plan F, G, or N will cover. Make sure to enter a Medicare-certified skilled nursing facility within 30 days of being hospitalized for at least three days.
Hospice Care Benefit
Plans A, F, G, and N will pay $5 per prescription for outpatient prescription drugs related to pain and symptom management.
Inpatient respite care is also available, with coverage of 5% of the Medicare-approved amount. With respite care, the usual caregiver can take time for themself while their loved one gets the short-term care they need from another caregiver.
Medicare Part B Physician’s Services & Supplies
When you enroll in Medicare Plan F, you don’t need to pay the annual deductible. But, this plan isn’t available if your eligibility for Medicare starts on January 1, 2020, or later.
After that, Plan F pays 80% of eligible doctor’s fees, 20% of eligible outpatient hospital services, and 100% of ambulance fees. There is also a copayment of $20 for office visits and $50 for emergency room visits.
After the deductible under Medicare Part B, Plans A, F, G, and N generally pay 20% of eligible expenses for ambulance service, physician’s services, supplies, and physical and speech therapy. There is also a copayment of $20 for office visits and $50 for emergency room visits under Plan N.
- Excess Benefits
Your Part B bill may exceed your Medicare-eligible expenses for services and supplies by 15%. In this case, Plans F and G will pay 100% of the difference, up to Medicare’s charge limitations.
- Benefit for Blood
Medicare has a yearly deductible for blood, the cost of the first three pints of blood you need. Plans A, F, G, and N will cover this deductible.
Additional Benefit for Emergency Care Received Outside the U.S.
Once you pay your $250 deductible for the calendar year, Plans F, G, and N will pay 80% of eligible expenses for care beginning any time during the first 60 days of your trip. This will help cover the costs of any health care you may need due to a covered injury or illness. The lifetime maximum for these benefits is $50,000, so you can relax and enjoy your trip knowing that you’re covered.
- Your policy cannot be canceled, so you can always rely on your Medicare supplement insurance benefits as long as you pay your premiums on time and your information is correct.
- The benefits for your Medicare supplement insurance will automatically increase with Medicare deductibles and coinsurance, ensuring you always have the best coverage possible.
- Benefits are paid to you or your hospital or doctor, making it easy to use your coverage when you need it most.
- Your policy renews every year on the date of your policy’s inception. You have 31 days to pay your premium, or your policy will lapse. No rate increase will occur during this grace period, no matter how many times you’ve received benefits. Your premium will change yearly on your renewal date, based on your attained age.
- Your coverage begins immediately, and there is no waiting period for preexisting conditions. Benefits will be paid from the day your policy is in force.
Your Medicare supplement insurance policy will not cover:
- Non-Medicare eligible services
- While this policy is not in effect, any hospital or skilled nursing facility confinement that starts during a Medicare Part A benefit period will not be covered.
- Expenses that Medicare covers
- Any expense that happened before your Policy Date
- Any costs that may be recovered via any other insurance plan, policy, or certificate, or any employee benefit plan reimbursed on a cost basis, are not included.
- Services that aren’t charged without an insurance policy
A Medicare supplement insurance policy is a great way to ensure you always have the coverage you need. It can help cover the costs of deductibles, coinsurance, and more. Be sure to carefully review your options and compare rates before choosing a policy to ensure you’re getting the best coverage for your needs.