Medicare Supplement Insurance Plan
A way for seniors to help plan for future medical costs.
Medicare is the federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with end-stage renal disease. It is made up of two parts: Part A (for hospital expenses) and Part B (for medical and preventative services). While the program provides benefits for the most acute medical needs, Medicare was never meant to cover all of your medical expenses.
How much of my medical expenses are covered through Medicare?
Medicare doesn’t cover everything. After your Part B deductible is met, you typically pay 20% of the Medicare-approved amount for most doctor services (including most doctor services while you’re a hospital inpatient), outpatient therapy, and durable medical equipment.* That’s money that comes straight out of your own pocket if you don’t have a supplemental plan to help with these expenses. These expenses could be substantial, especially if you experience a catastrophic illness or repeated hospitalization.
A Medicare Supplement insurance plan from Pekin Life Insurance Company will help pay expenses not covered by Medicare, like deductibles and coinsurance, and may help protect your savings and your peace of mind. You can keep the same doctors (as long as the doctor accepts Medicare), you are still in the Medicare program, and you have all of your Medicare rights and protections.
What does a Medicare Supplement insurance plan from Pekin Life Insurance Company include?
Like all Medicare supplement policies, all Pekin Life Insurance Company Medicare Supplement insurance plans include:
- Guaranteed acceptance at age 65 with no health questions or medical exams. If you enroll during the open enrollment period that begins on the first day of the month that you are both 65 or older and enrolled in Medicare Part B and extends for six months after you sign up for Medicare Part B, you cannot be turned down for coverage. (You must be enrolled in Medicare Part B.)
- The freedom to use any provider who accepts Medicare. One of the benefits of pairing our Medicare Supplement plan with Medicare is the flexibility. You can use any doctor or hospital that accepts Medicare, and you are not limited by a network.
- Direct access to specialists who accept Medicare. You’ll also never need a referral to see a specialist. You’re free to see any specialist that accepts Medicare, with no referrals or co-payments needed.
- Guaranteed coverage for life. Once you’re enrolled in a Pekin Life Insurance Company Medicare Supplement insurance plan, your coverage is guaranteed renewable, regardless of your age or how your health may change, as long as your premiums are paid.
- A 30-day opportunity to change your mind. At Pekin Life Insurance Company, we give you a full 30 days from the date you receive your policy to review it. If you are unhappy with it for any reason, we will refund your premium.
In addition, you also receive:
- Expert customer service from Pekin Life Insurance Company. As a trusted name in insurance, Pekin Life Insurance Company offers you value, convenience, and superior customer service. You can count on us to be there for you whenever you have any questions about your coverage and Medicare.
- Vision and hearing discounts included at no extra charge. With a Medicare Supplement insurance policy from Pekin Life Insurance Company, you will have access to a vision and hearing discount program providing discounts on eye exams, eyeglasses, contact lenses, LASIK correction surgery, hearing aids, hearing exams, and more.**
Which Medicare Supplement insurance plans are offered at Pekin Life Insurance Company?
There are 10 standard and federally regulated Medicare Supplement insurance plans. Pekin Life Insurance Company offers the following plans based on your state of residence:
- Arizona – Plans A, F, and G
- Georgia – Plans A, F, G, and N
- Illinois – Plans A, F, High Deductible F, and G
- Indiana – Plans A, F, High Deductible F, and G
- Iowa – Plans A, F, High Deductible F, and G
- Kansas – Plans A, F, G, and N
- Louisiana – Plans A, F, G, and N
- Michigan – Plans A, F, G, and N
- Mississippi – Plans A, F, G, and N
- Missouri – Plans A, F, G, and N
- Nebraska – Plans A, F, G, and N
- Ohio – Plans A, F, High Deductible F, and G
- Tennessee – Plans A, F, G, and N
- Texas – Plans A, F, G, and N
- Virginia – Plans A, F, G, and N
Medicare Supplement Insurance Plan A is ideal for people who want more coverage than Medicare Parts A and B but don’t anticipate using a lot of health care services. With this plan, you won’t pay for extra coverage you might not use, but you could have some extra costs from time to time.
Medicare Supplement insurance Plan A provides the following basic coverages:
- Hospitalization pays Part A coinsurance plus coverage for 365 additional days after Medicare benefits end.
- Medical Expenses pays Part B coinsurance (generally 20 percent of Medicare-approved expenses) or co-payments for hospital outpatient services.
- Blood pays for the first three pints of blood each year.
- Hospice care pays Part A coinsurance.
Medicare Supplement Insurance Plan F provides you with the most complete coverage available. Because the plan covers costs in excess of Medicare-approved amounts, you may have no out-of-pocket costs for hospital and doctor’s office care with this plan.
Medicare Supplement insurance Plan F provides all the coverages included in Plan A, plus coverage for:
- Skilled nursing facility care.
- Medicare Part A deductible for hospitalization.
- Medicare Part B deductible for medical and hospital outpatient expenses.
- Medicare Part B excess charges. (This is the difference between what a doctor or provider charges and the amount Medicare will pay up to Medicare’s limiting amount).
- Travel abroad medical emergency help.
Plan F also has a high-deductible option. The benefits you’ll get from our High-Deductible Plan F are exactly the same as with a standard Plan F. You’ll just have to meet a higher deductible in exchange for the lower premiums you’ll be paying each month. Benefits from this plan will not begin until out-of-pocket expenses (expenses that would ordinarily be paid by the policy) exceed the calendar year deductible. This calendar year deductible may increase annually to reflect changes in the Consumer Price Index. Premiums are lower when compared to the standard Plan F.
Medicare Supplement Insurance Plan G is a good fit for people who want some coverage for hospitalization but are willing to pay the $166 Part B deductible on their own. Coverage is exactly the same as under Plan F, except the policy does not cover the Part B deductible. Premiums are lower than Plan F.
Medicare Supplement Insurance Plan N works well for people who are comfortable with a co-pay. Coverage is the same as Plan F except that insureds may be required to pay a co-pay for a doctor’s visit and for emergency room visits where you are not admitted to the hospital. Additionally, Plan N does not cover the $166 Part B deductible or any Part B excess charges, so the insured is also responsible for these costs. Premiums are lower than Plan F.
How can I learn more about Medicare Supplement insurance plans from Pekin Life Insurance Company?
This is a brief overview, and we know you’ll need more details in order to choose the right plan. So just get in touch with us. We can help you understand your choices and select the Medicare Supplement insurance plan that’s best for your life and budget. To learn more about the Medicare Supplement insurance plans available from Pekin Life Insurance Company, including the Medicare Supplement insurance rates in your state, contact one of our agents today! We also encourage you to check out our FAQs for additional information on Medicare Supplement insurance benefits and coverage. You can also visit medicare.gov for more on what you need to know about Medicare and Medicare Supplement Insurance.
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* Source: Medicare.gov
** Vision and hearing discount services are not part of the policy, may be discontinued at any time, and may be subject to geographic availability. Some services may not be available in all states. Vision and hearing discount programs are administered by Careington International Corporation, 7400 Gaylord Parkway, Frisco, TX 75034; phone 800-441-0380.
This policy has exclusions and limitations. For costs and complete details of the coverage, contact your Pekin Life Insurance Company agent.
This website description is not a contract. This is a brief summary only and is subject to the terms, conditions, and limitations of the policy applicable in each state. Availability of Medicare Supplement Insurance is subject to state approval. Plan options may vary by state and coverage may not be available in all states. You are responsible for charges not covered by Medicare and this insurance plan. Please refer to the Outline of Coverage for additional information.
Not connected with or endorsed by the U.S. government or the federal Medicare program. The purpose of this communication is the solicitation of insurance. Respondents will be contacted by a Pekin Life Insurance Company agent.
LZ408_MI (09/2016) (Advertising)