Does Colonial Penn Offer The Best Medicare Supplemental Insurance?
Colonial Penn offers Medicare Supplemental Insurance Plans in conjunction with a partnership between Banker’s Life and Casualty and Colonial Penn. The organization has been in operation for over a century, and was founded in 1879. With this history, and the hundreds of thousands of insurance plans currently being serviced by Colonial Penn, makes this company the best option for Medicare Supplemental Insurance. Colonial Penn has built a reputation of trust and customer service.
Covering Costs Not Covered By Medicare
Medicare Supplemental Insurance will cover costs which are not covered by medicare, these include by are not limited to ambulance transportation, extended hospital visits, and co-pays. The most important aspect of your health and well being is excellent medical care. Making decisions on what medical care to receive should not be determined by an apprehension of the overall costs. With Medicare Supplemental Insurance, you will be able to get the care you deserve without worrying about the costs.
You Choose Your Doctor
With this plan, you choose your doctor. There is no mandatory physician to work with, and only you make a decision on who you feel comfortable to trust with your health. With Medicare Supplemental Insurance, you do not need referrals to see a specialist. This saves time and puts you in control of your health care, rather than burdening you and your primary care physician with seemingly endless paperwork.
Coventry First Health Part D Prescription Coverage
Colonial Penn’s prescription coverage is offered through Coventry Health Care’s First Health Part D program. Mail Ordering your prescription medicines at 90 day supplies at one time saves you time and money. In most cases you will pay less with this method. Medicare Supplemental Insurance helps you with co-payments and general out-of-pocket costs which include prescription medicine needs.
16 Responses to “Does Colonial Penn Offer The Best Medicare Supplemental Insurance?”
Leave a Reply to Patricia C
Are you KIDDING me? ALL Med Sups are STANDARDIZED! Plans A-N are ALL THE SAME REGARDLESS of who the insurance company is! A Plan F is a Plan F, a Plan B is a Plan B, so HOW do you justify saying that Colonial Penn is the best choice for a Med Sup, unless they are the CHEAPEST??? Cost is the ONLY difference between the STANDARDIZED PLANS SOLD BY ALL MED SUP CARRIERS!!!!!
you know I never thought of it that way. I have Colonial Penn Supplement & so far it’s done right by me. I was in the hospital twice in the same year & it covered everything they said it would.So your saying no matter what supplement plan you have it all (plan F) covers the same ? I’m so tired looking up this info to get answers. Why are there so many plans if they all cover the same? thanks,Patricia
Hi Patricia,
I am an Independent Insurance Agent and that is correct. The only difference is the amount of money you are being charged. Each company is different.
Let me know if you would like to find out if you’re paying too much for the plan you now have.
They are not all the same: You have to find out who and where your supplemental insurance will cover. If you are in a HMO you have fewer (YES, FEWER) choices as to where you can go. My mother had 3 choices for skilled nursing facilities and all were the lowest rated. She has Humana so I’m trying to find a better alternative.
I reiterate: FIND OUT WHERE YOUR INSURANCE IS ACCEPTED. You may not like the result.
Just to make this clear an HMO is a Medicare Advantage Plan not a supplement plan. A lot of people get confused with that.
But Louise is correct all supplement plans are all standardized but each company charges different rates. I always suggest the plan that is the least expensive and easiest to get on, which is a different company then Colonial Penn.
However Medicare Advantage plans can be completely different even within the same company. Just make sure you know which is which.
Ok, your a little confused… PPO’s, HMO’s, and PFFS plans are NOT supplements. Those are part of Medicare Advantage or Part C. Medigap (supplement) policies DON’T have networks you can see the Dr. a few states over and get the same coverage… Generally pays for all costs that would normally be left to you after Medicare pays, depends on the policy.
Colonial Penn is NEVER the cheapest. There are FAR better companies on price and reputation. Trust me, I used to work at Bankers Life and sold them….
What has made Colonial Penn so good for me is the customer service. I don’t feel like I am just calling a 800 number. Also, I have compared price and I find the cost very reasonable. Also, in 2010, 2011 I did not get rate increases. In 2012 it went down by abut $2. My agent did inform me that all plans can go up over time and with inflation, but this was nice. That is different than what I experienced from another insurance company that I wont name. Thanks, Charlie.
Ummm, Colonial Penn raises rates 9% each year…..
Mr. Craig, not only is it the premium you pay that makes a Plan F, not a Plan F, but also the Company. And Colonial Penn is one of the best. Price and Company are the differences. Differences that should be considered when choosing a Supplememnt.
Peabo you must work for the company RIGHT??
Hi,
I just turned 66 and will need to make a decision regarding what medicare insurance plans I need to chose, if any. I already have A and B, but since I’m healthy, have no pre-existing health issues, and haven’t had to take anything prescription in years, do I still need a part C and/or D?
Thank you!
Geri
is colonial penn an HMO or a PPO. there is a difference in how they reimburse the doctors.
Colonial Penn is neither an HMO or PPO. It is a supplement plan. It is accepted anywhere Medicare is accepted. Whic can’t be said for HMOs or PPOs.
Kathy the doctors are reimbursed Medicare allowable rates only. Colonial Penn doesn’t pay the doctors anything it only helps cover your out of pocket costs. Medicare is your primary coverage on this plan.
In some states we are finding a lot of doctors not taking Medicare and/or supplements but they are taking Medicare Advantage plans (HMO, PPO, etc). This is because the Advantage plans reimburse the doctors higher rates and pay them a lot faster. They also give or offer their members more benefits then Medicare offers such as routine dental, vision, hearing or fitness memberships. Another huge bonus is the doctors and you only deal with one plan since Medicare is no longer billed.
It all depends on your individual needs and what your doctor accepts. Everyone’s needs are different.
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With the Bankers “Plan F”, I only need to bring my medicare card and Bankers card (first visit only), I never see a bill but was told if one comes in the mail, I call my agent (on his cell phone) and he assures me that I don’t need to pay ANYTHING. I don’t really understand some times but he comes over to see me at least twice a year. To help me with my drug plan too. I love this company. Is it Bankers or Colonial Penn? or both? Whoever they are, they’re great.