Bankers Fidelity Medicare Supplement Plans
Bankers Fidelity is a Top Medicare Supplement Company. It offers the following Medigap plans: A, B, F, high deductible F, G, K, L, M, and N. Bankers Fidelity Medicare Supplement plans offer you the following benefits.
Medicare Part A Hospital Coverage
Banker Fidelity Medigap plans all cover Medicare Part A coinsurance costs. For example, you have blocked arteries resulting in chest pain and shortness of breath. Your doctor admits you to the hospital for coronary angioplasty and stents. Original Medicare only covers 80% of your hospital bills. However, all Bankers Fidelity Medigap plans pay your 20% coinsurance hospital costs which include the following:
- Bankers Fidelity pays $176 coinsurance in 2020 for days 21 thru 100 in a skilled nursing facility on Medigap Plans F, G, M, and N. However, it only pays 50% on Plan K and 75% on Plan L. Furthermore, you pay all costs after day 20 on Plans A and B.
- Bankers Fidelity pays $352 coinsurance in 2020 for days 61 thru 90 in a Long-Term Care Hospital (LTCH). These 30 days of care add up to over ten-thousand dollars in benefits!
- The first 3 pints of blood are free with Bankers Fidelity Plans A, B, F, G, M, and N. However, Plan K only covers 50% (1.5 pints), and Plan L only covers 75% (2.25 pints).
Moreover, Bankers Fidelity covers inpatient mental health services. If you get admitted into a psychiatric hospital, Medicare Part A pays up to 190 days. Bankers Fidelity covers all of the above hospital services. However, which Medigap Plans pay the Part A hospital deductible?
Medicare Part A Deductible
Bankers Fidelity Medigap Plans B, F, G, and N pay 100% of $1408 Part A deductible in 2020. However, Plans K and M only pay 50% or $704. As a result, you pay the other half of the Part A deductible with Plans K and M.
Furthermore, Plan L only pays 75% or $1056. Thus, you pay 25% of Part A deductible with Plan L. Lastly, Medigap Plan A does not cover the Part A deductible, so you must pay all of it yourself. Now that you know the hospital coverage and costs covered by Medicare Part A, what is the medical coverage and costs of Medicare Part B?
Medicare Part B Medical Coverage
Bankers Fidelity Medigap Plans A, B, F, G, M, and N cover your Part B coinsurance. For example, in the last 12 months, you had a heart attack. Medicare Part B covers intensive cardiac rehabilitation (ICR) programs, which usually include intense exercise, education, and counseling.
However, Original Medicare only pays 80% of your Part B costs. Thus, you must pay for the other 20%. When you get a Bankers Fidelity Medigap Plan mentioned above, this plan pays your 20% coinsurance payment. On the other hand, Medigap Plan K only pays 50%, so you must pay 10% coinsurance. Similarly, Plan L only pays 75%, so you must pay 5% coinsurance.
Moreover, only Bankers Fidelity Medigap Plan F pays the Part B deductible of $198 in 2020. For all other Banker Fidelity Medigap Plans, you pay this one-time annual $198 Part B deductible. Furthermore, any person newly eligible for Medicare in 2020 can not enroll in Plan F.
Medicare Part B Preventive Medical Services
Bankers Fidelity covers the 20% coinsurance Part B costs for the following preventive medical services:
- Bankers Fidelity pays 20% coinsurance when colorectal cancer screening discovers abnormal tissue (polyp), and the doctor removes it for later examination.
- Bankers Fidelity pays 20% coinsurance to diagnose and treat your mental health after you pay $198 part B deductible in 2020 (except for Plan F).
- For men over the age of 50, Bankers Fidelity pays 20% coinsurance for prostate cancer digital rectal exam after you pay $198 Part B annual deductible (expect Plan F).
Bankers Fidelity Medigap Plan F pays your $198 Part B deductible. Now you know how Bankers Fidelity Medigap Plans cover your Part B medical costs. Next, let’s look at the benefits and costs of Bankers Fidelity Medigap Plan N.
Bankers Fidelity Medicare Supplement Plan N
Bankers Fidelity Medigap Plan N pays 100% of the following Part A benefits:
- Hospital deductible of $1408 in 2020
- Hospice and inpatient hospital care
- Inpatient care in a skilled nursing facility
- First three pints of blood as an inpatient
Furthermore, Bankers Fidelity Medigap Plan N also covers the first three pints of blood as an outpatient under Medicare Part B. Moreover, Plan N covers 100% of Part B coinsurance except under the following conditions:
- You visit a medical facility and get treated as an outpatient. In this case, you will need to pay up to $20 per visit.
- You visit the emergency room (ER) and get treated as an outpatient. In this case, you will need to pay up to $50 copayment.
Finally, Bankers Fidelity pays 80% of Foreign Travel Emergency. Now you know what Bankers Fidelity Plan N covers. On the other hand, what does it not cover?
What is not covered by Bankers Fidelity Plan N?
Bankers Fidelity Medigap Plan N does not cover Medicare Part B deductible of $198 in 2020. Nor does it pay Medicare Part B excess charges. Now that you know what Plan N does and does not cover, how does Plan N compare to other Bankers Fidelity Medigap plans?
Compare Bankers Fidelity Medicare Supplement Plans
You can use the Bankers Fidelity Medigap Plans chart to compare benefits side-by-side. In the chart below, 100% indicates the Medigap Plan benefit is fully covered. However, any percentage less than 100% provides you with that percentage of coverage. For example, Plan K only covers 50% of Part A hospital deductible. In other words, you pay half of $1408. Therefore, your Part A deductible cost is $704.
Furthermore, you can use the chart below to compare Banker Fidelity Medigap Plans quickly and easily. Moreover, you can download this chart for future reference.
Bankers Fidelity Medicare Supplement Plan F
Bankers Fidelity Medigap Plan F has the most benefits. However, it also has the highest monthly premiums. Moreover, Plan F is not available to people newly eligible for Medicare on or after January 1, 2020. In other words, you are not allowed to purchase a Medigap Plan F if you were first eligible for Medicare in 2020.
On the other hand, you are allowed to have Plan F under the following conditions:
- You were eligible for Medicare before January 1, 2020.
- You already have Plan F.
In the cases above, you can continue your Plan F coverage. Unlike other Bankers Fidelity Medigap Plans, Plan F is the only supplement that pays your $198 Part B deductible in 2020. If you are not eligible for Plan F, the most comprehensive coverage you can get is Plan G.
Bankers Fidelity Medicare Supplement Plan G
Bankers Fidelity has the same great coverage benefits as Plan F. The only difference is you pay a one-time, annual Part B deductible of $198 in 2020. However, Plan G’s monthly premium costs less than Plan F and can save you several hundred dollars per year. That’s why Senior Healthcare Direct calls Plan G the “Greatest Value.” Find out how much you can save on Plan G by calling 1-855-368-4717.
Shop and Save on Medigap Plans
Senior Healthcare Direct makes it easy for you to shop and save on your Medigap plan. As a Medicare insurance broker, we can shop your plan with over 30+ A-rated insurance carriers such as Bankers Fidelity, Transamerica, Manhattan Life, Cigna, and State Farm. Call Senior Healthcare Direct at 1-855-368-4717 or click the “Get Quote” button.
MedicareBob and Bankers Fidelity Video
Robert Bache, the owner of Senior Healthcare Direct, interviews Vice President of senior sales Ryan McMillen. In this video, you will learn more about senior insurance products, including supplement plans, advantage short-term care, and “lump-sum” cancer policies.