|Plan Type||Est. Premium*|
|Medigap Plan A:||$121.00||(shop rates)|
|Medigap Plan FH:||$55.00||(shop rates)|
|Medigap Plan G:||$118.00||(shop rates)|
|Medigap Plan K:||$69.00||(shop rates)|
*Premiums shown are samples for a 65 year old, non-smoking woman in Iowa. You must request a quote to get an exact premium for your situation.
Bankers Fidelity Life Insurance Co is licensed in Iowa to sell Bankers Fidelity Medigap Plans. This page outlines the Medicare Supplement insurance available from this carrier, as well as resources to get an accurate quote. A Medicare Supplement protects you from hospital and doctor bills, including deductibles, copayments and coinsurance, that Original Medicare does not pay. The company has been selling supplements for more than 29 years. Their full range of plans for Iowa seniors are listed below. A.M. Best Company, a nationally recognized insurance rating company, gave Bankers Fidelity an B++ rating.
All insurance companies that sell Medicare Plans must offer Plan A. This is the most basic policy covering the portions of Medicare Part A and Part B that the government doesn’t pay.
Iowa seniors with Medicare benefits are eligible to apply for a Bankers Fidelity Life Insurance Co Medigap Plan A policy. It's a Issue Age based premium. We recommend comparing this company's Plan A rate with these carriers:
- Globe Life Medigap Plan A (Iowa)
- World Corp Medigap Plan A (Iowa)
- UnitedHealthcare Medigap Plan A (Iowa)
Plan G has almost as much coverage as a Plan F. The difference is the Part B deductible. After your annual Medicare Part B deductible is met, this plan will cover the coinsurance amount of Medicare-approved medical services, which is generally 20% of the approved amount.
If you stay in the hospital for longer than 60 days, but less than 90 days, Plan G covers your Medicare Part A coinsurance for each benefit period. For each Medicare “hospital reserve day” you use, Plan G pays the full per day Medicare Part A coinsurance amount. “Hospital reserve days” are 60 nonrenewable hospital days that Medicare provides you which can only be used once in a lifetime. After all Medicare hospital benefits are exhausted, Plan G covers 100% of Medicare Part A eligible hospital expenses.
Most experts agree that Plan G is the best alternative to the F Plan. It offers all of the same benefits, except the Part B deductible. Bankers Fidelity Life Insurance Co offers a Plan G and we think it's worth comparing with the rates offered by these carriers:
- Forethought Life Medigap Plan G (Iowa)
- Assured Life Association Medigap Plan G (Iowa)
- GPM Life Medigap Plan G (Iowa)
Plan K covers the cost sharing for Part B preventive services, the Part A hospital co-insurance and features an additional 365 days of hospital coverage. Plan K covers 50% of the Part A and Part B blood deductibles, the Part B co-insurance, the skilled nursing facility co-insurance, cost sharing associated with the hospice benefit, and the Part A hospital deductible.
Once you reach a total out-of-pocket limit of $4,940 (2015 rates), this plan pays 100% of all cost sharing under Medicare Parts A and B for the rest of the calendar year. If you need to manage your cash flow, Plan K is one way to do it.
Healthy seniors who can take some financial risk should take Plan K into consideration. It's a good alternative to Medicare Advantage. Your risk is about $5,000 per year in out-of-pocket costs. Plan K is offered by Bankers Fidelity Life Insurance Co in Iowa. Premiums for a Plan K policy vary a lot so be sure to compare with these carriers:
- UnitedHealthcare Medigap Plan K (Iowa)
- Colonial Penn Medigap Plan K (Iowa)
- Transamerica Medigap Plan K (Iowa)
You are eligible to apply for a Bankers Fidelity Medicare Supplement if you are:
- A resident of Iowa,
- Enrolled in Medicare Parts A and B, and
- You are age 65 or over.
Bankers Fidelity offers plans in Des Moines, Cedar Rapids, Davenport, Sioux City, Iowa City, Waterloo, Council Bluffs, Ames, Dubuquq, Ankeny and most other areas of the state.
This page is maintained by 9/22/2015.and was last updated on