We are proud to offer Bankers Fidelity and Bankers Assurance Company as one of our trusted carriers for Medicare Supplement plans. For a free quote or assistance call us directly at 800-208-4974.
Bankers Fidelity Life Insurance Company History & Background
Bankers Fidelity Life Insurance Company has been offering insurance products to Medicare-eligible people for over 60 years. Founded in 1955, headquartered in Atlanta, GA, licensed in 46 states across the U.S. Bankers Fidelity is a wholly-owned subsidiary of Atlantic American Corporation.
Their mission is to provide the best protection for their clients and provide outstanding customer-service and affordable products. They strive to give the best customer service and follow through with their policyholders on claims.
Bankers Fidelity Financial and Ratings
Bankers Assurance is a subsidiary of Bankers Fidelity. Bankers Fidelity maintains an excellent A- rating with A.M.s Best. In addition, they hold a 4.5 out of 5 stars based on customer satisfaction reviews.
As a subsidiary of Atlantic American corporation, a publicly-traded company, they have millions in revenue and assets that Bankers Fidelity may also have access to. As a company dedicated to satisfying its stakeholders, Bankers Fidelity strives to go above and beyond for the company and its customers.
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Bankers Fidelity Additional Insurance Products
Bankers Fidelity offers more than just Medicare Supplement Plans, they also provide the following products:
- Short-Term Care
- Final Expense Insurance
- Level Term Life Insurance
- Single-Premium Whole Life Insurance
- Cancer Insurance
- Disability Insurance
Yes, with a Bankers Fidelity Medicare supplement insurance plan, it will let you choose any doctor or provider that accepts Medicare.
With Medicare supplement Plan G Medicare-eligible folks will have Part A coinsurance and hospital coverage for an additional 365 days. Also, medical expenses like Medicare Part B coinsurance or copays will be covered. Plan G offers much more, and it will lower out-of-pocket costs for medical expenses.
Bankers Fidelity Medigap Plans
| Medigap Benefits | Plan F | Plan G | Plan N |
| Medicare Part A Coinsurance | 100% | 100% | 100% |
| Medicare Part B Coinsurance | 100% | 100% | 100% ** |
| Blood (First 3 Pints) | 100% | 100% | 100% |
| Part A Hospice Coinsurance | 100% | 100% | 100% |
| Skilled Nursing Facility Coinsurance | 100% | 100% | 100% |
| Medicare Part A Deductible | 100% | 100% | 100% |
| Medicare Part B Deductible | 100% | X | X |
| Medicare Part B Excess Charges | 100% | 100% | X |
| Foriegn Travel* | 80% | 80% | 80% |
Bankers Fidelity has been providing outstanding Medicare supplement plans. Highlights when buying a Medicare Supplement Plan through Bankers Fidelity or Bankers Assurance Company:
- 30-day free look period
- Portable Coverage
- Household discount when applicable
Bankers Fidelity offers Medicare Supplement Plans F, G, and N, either directly or insured under their subsidiary; Bankers Assurance. We recommend Plan G for your Medicare supplement plan, as Plan G provides the most value vs Plan F.
With a plan F, G or N, you can see any doctor or hospital that accepts Medicare anywhere in the country! No referrals are needed. For more information on Medigap plans, see the FAQs section here.
Bankers Fidelity Medigap Plan F
Folks who become Medicare eligible after January 1st, 2020 aren’t able to sign up for Medicare supplement Plan F. Those who turned 65 before 2020 will always have this plan available. Plan F is one of the more expensive plans because it offers one of the most comprehensive coverage. However, if you would like a similar but more affordable plan, Plan G is a great alternative.
Here are some of the highlights of Plan F:
- Part B coinsurance
- Skilled nursing
- First three pints of blood
Explore other carriers: United World Life Medicare Supplement Plans
Bankers Fidelity Medicare Supplemental Plan G
Out of all the Medigap plans, Plan G offers a lot of coverage and an affordable monthly premium. With this plan, you get everything from Plan F, but the only difference is that you have to pay for the Medicare Part B deductible. Even though you have to pay this deductible, you can still greatly reduce out of pocket cost with Medicare Plan G.
Here are some of the coverage highlights of Plan G:
- Inpatient hospital coinsurance
- Part B excess charges
- Part B copayment
Plan G may be the perfect plan for you if you need extensive medical services or frequent the doctor’s office often. It provides comprehensive coverage that will lower a lot of out of pocket cost.
Bankers Fidelity Medicare Supplement Plan N
Bankers Fidelity also offers Medigap Plan N. This Medicare plan will help cover the costs of hospital, medical and specialized services. It’s similar to all the other plans but is one of the most affordable out of the 10 plans. It offers basic benefits as well as Part A coinsurance and Part B coinsurance.
Here are some of the benefits of Plan N:
- First 3 pints of blood
- Hospice care
- Pays 20% of Medicare-approved out-patient expenses
If you don’t need a robust plan like Plan G and Plan F, maybe Plan N is right for you.
Learn more: Medicare Supplement Plan N
Which is Better? Bankers Fidelity Plan G vs Plan N
As mentioned above, Plan G and Plan N both have great coverage and can significantly reduce out-of-pocket costs. These plans cover skilled nursing facility services, Medicare Part A hospital costs, Medicare Part B coinsurance, the First 3 pints of blood, and more. However, neither cover the Part B deductible, which you have to pay out of pocket if you enroll in other of these plans.
Overall, the main difference is that Plan G offers more coverage. Plan N doesn’t cover excess charges or copays, which means if you have Plan N, you would have to pay out-of-pocket if a doctor or specialist suggests you take on more services. It also has copays for up to $20 – $50 for each doctor’s office visit or emergency room admission. With Plan G, all of that is covered.
Which plan is best for you all depends on your unique medical needs. If you consider yourself healthy and don’t visit the doctors often or the emergency room, Plan N will be more affordable. If you need more medical attention, then Plan G will provide more comprehensive coverage. We highly advise that folks speak to a licensed insurance agent to help choose which plan suits their particular lifestyle. At the end of the day, the choice is yours!
Read more: Plan G vs. Plan N: Which One is Right For You?
Our Recommendation
Competitive rates nationwide combined with a stable rate increase history and friendly customer service makes Bankers Fidelity a strong recommendation to our clients!
The option to utilize an easy electronic application makes signing up a breeze! We understand the importance of our client’s place on rate stability and carrier history, that is why we are confident in recommending Bankers Fidelity as a Medicare Supplement carrier.
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If you are wondering if Bankers Fidelity is the right Medicare supplement carrier for you, give us a call at 800-208-4974. We can also help you compare plans with other carriers and guide you through the Medigap process with a free consultation.
Bankers Fidelity Medicare Supplement Review
- Competitive Rates
- Rate Stability
- Industry Experience
Get A Free Quote!
Contact us today at (800) 208-4974 for a free quote comparison.
Alex Wender is the founder and CEO of Bluewave Insurance. He has been blogging about Medicare-related topics since 2010. Since then, he and his agency have helped thousands of people across the country choose the right Medicare to fit their needs.
