Bankers Life & Casualty Company: Health Insurance for Seniors in Indiana
Medicare supplemental insurance plans are designed to fill in the 'gaps' in regular Medicare coverage (Parts A and B). While Medicare pays for many health care costs, there are many things it doesn't pay for. Supplemental insurance, also called 'Medigap', pays for many of the costs that Medicare doesn't, such a deductibles and co-insurance.
Bankers Life & Casualty Company offers Medigap Plans A through F, Plans G, J, K, and L, and high-deductible Plan F to meet the needs of seniors in Indiana (those aged 65 or better). Medicare supplemental insurance policies are referred to by letters A through L, with Plan A offering the most basic policy benefits, and all subsequent letters offering one or more additional benefits. High-deductible Plan F offers the same benefits as regular Plan F, but with a substantially higher deductible ($1,900 in 2008) and a lower monthly premium.
Bankers Life & Casualty also offers Medicare SELECT Plans A through D, F, and J for Indiana seniors. Medicare SELECT offers similar benefits to regular Medicare supplemental insurance policies. However, traditional Medigap policies allow you to use any health care provider, hospital, or medical specialist of your choosing. Medicare SELECT policies require you to choose your health care providers from a predetermined provider network, lowering your monthly premium as a result. If you do not mind utilizing the health care services of Bankers Life & Casualty Company's extensive network of providers, and you want to save money, a Medicare SELECT policy may be right for you.
Medicare supplemental insurance is sold through private health insurance companies in Indiana. While Medigap policies are regulated on the federal and state levels, private insurers retain the ability to decide on their own monthly premiums for the policies they offer. When shopping for a policy, make sure to compare the policy that best suits your needs across several Indiana insurers. There may be significant differences in monthly costs for senior members.
