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.
30 Responses to “Does Colonial Penn Offer The Best Medicare Supplemental Insurance?”
Leave a Reply to Charlie
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….
Mary….. if you have to find out who and where your supplemental insurance will cover…. YOU DON’T HAVE A SUPPLEMENT! If you have to use a list of providers, you have a Medicare Advantage plan… which really should be called a DIS-Advantage plan because it takes away MOST of your freedoms of choice.
Please don’t listen to Jessie either.. .the plan that is the cheapest and easiest to get on is NOT always the best choice. If it’s that cheap, and that easy to get on, there definitely IS a reason.
I know of a plan that is cheaper than Colonial Penn, but they almost NEVER pay on time and you have to fight to get your benefits… definitley NOT worth it for me and my family.
My father has Lou Gehrig’s disease and he has Colonial Penn plan F. I can tell you from personal experience I would NEVER go with anyone else… his health and piece of mind are well worth the small difference in the beginning monthly premium.
They have been a God send for us!
Thanks for listening.
Charlie
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…..
Dan, I don’t know where you’re getting your information, but that’s incorrect. We haven’t had 9% rate increases on my father’s plan and I would know since I’m the one paying his bills. Some years we had no increase at all and in others years, the increase has been too small to even count…. just so you know from someone who actaully has the plan.
i am 76 yrs old. I have both parts a & b medicare coverage, I chose colonial penn as my supplemetal ins. I was hospitalized for 2mo. why am I receiving collection notices from an Indianapolis lab (the pathology grp) for 650.00 labwork? I should have FULL coverage?
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.
Jesse you obviously work for a Medicare Advantage plan company. YES COLONIAL PENN does pay the doctor! Medicare pays first, then Colonial Penn pays the doctor whatever is left over. My dad NEVER pays anything and his doctors are ALL getting paid what is due them from Colonial Penn.
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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.
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Great website and I want to say that I do agree with them on Colonial Penn.
They offer a great medicare insurance and they cover my medicine fully.
colonial covers none of my drugs but for 2 $10.00 generic drugs. and this is suppose to be the best plan. it covers none of my named brand drugs that took two years of trial and error to get the right drug and how much. now they want to change everything to things I have tried and make me feel awful. 3 of the drugs are between $200 & $300 a month. after you have seen a doctor and get your meds, you have to change everything so you get the cheapest drug not the best.
If Supplemental Plan F is the same, no matter who you get it from, then why is AARP $169 vs Colonial Penn at $202 a month? How do they justify the difference? The AARP/United rep says there is absolutely no difference, but the Penn rep says theirs is a Policy, not a Certificate like AARP, which is a group plan and can be cancelled. Who is telling the truth?!
Yes, Colonial Penn rep says the Advantage plans will be hurt by Obama plan and the Drs. and local Hospitals are dropping them when their contracts expire. I am offered a very good Aetna advantage plan from the company I retired from but Colonial Penn says the Advantage plans are in trouble. I called the hospital and they say they take all Advantage Plans at this time so does my Dr. AARP dropped my Dr who says they don’t drop insurance companies but are sometimes dropped by the company itself. Confusing ! Who is telling the truth ?
Why would you consider giving AARP a penny when they promoted so hard for the Medical mess we are about to enter
I feel like an idiot. I dropped my advantage plan to go with AARPRx because of only 1 (one) of my medications. It was the only plan that carried it. In the end they denied it, three times. So I ended up notnbeing able to,take the much needed med AND having to pay $90 a month premium to pay for all generic meds. Not to mention that phenerghan , which has been generic for years, is not covered at all and I have to pay full cash price for it. I have an appt this week with the Colonial Penn rep. I know they don’t carry Plan D, but I’ve also learned that with generics and competition, $4 and $7 scripts are the norm even without coverage.
How is Colonial Penn customer service. My former husband is going with United Healthcare because he claims there customer service is better than Colonial Penn. Is that true?
Cheryl
I hear rumors that the Simpson-Bowles Commission will be eliminating/modifying parts G and/or F supplemental coverage. Has anyone else heard anything about that ? If that’s the case…just like when the Government eliminated the “J” coverage…whether or not you will be moved to another medigap class, K etc…by your carrier solely depends on your CONTRACT…which is different for every insurance company.