Speak with an experienced advisor! If you’re enrolled in Medicare, you’ve heard of supplemental plans, but there is a lot of mystery surrounding these plans. If you didn’t know, traditional Medicare plans don’t pay for everything. In find, there are a lot of charges which fall through the cracks.
This is why you should consider buying a Medicare Supplement insurance plan.
If you decide to buy a supplement plan, then the real journey starts. You’ll need to wade through all of the companies.
To help you out, we’ve reviewed some of the most popular carriers out there.
The History of Liberty Bankers Life Insurance Company
LBL, or Liberty Bankers Life Insurance Company, was initially established in 1958. For the past 50+ years, they have continued to grow.
This insurer is domiciled in the state of Oklahoma, and it is licensed to sell its products in 46 of the U.S. states. With its headquarters in the Dallas, Texas area, LBL has more than 8,000 licensed agents throughout the United States who represent its products and service the company’s customers. In marketing its products and services, LBL uses The Capitol Life Insurance Company - a subsidiary of LBL - which markets products in numerous states.
Liberty Bankers Insurance Company (LBL) is owned by Liberty Life Group Trust, a Texas holding company. Liberty Bankers offers a wide array of life insurance and annuity products that can help individuals and businesses with meeting their financial goals. The LBL Group has developed a proven track record of growth of its assets, as well as its insurance premiums, and earnings, over the past decade. Today, the company has in excess of $1 billion in assets under management.
Liberty Bankers Life Insurance Company Review
Roughly two decades ago, LBL began making acquisitions of companies in order to further expand its operations. Through LBL and its two wholly owned subsidiaries, Capitol Life (CLIC) and American Benefit Life (ABL), the company operates nearly throughout the entire Untied States.
As of year-end 2016, LBL has in excess of $1.5 billion in total assets, with nearly $205 million in capital and surplus. The company’s net income for that same year exceeded $6.5 million. The total assets in 2016 for LBL, along with its subsidiaries, was nearly $2 billion.
Insurer Ratings and Better Business Bureau (BBB) Grade
As a reflection of its financial strength, Liberty Bankers Life Insurance Company has been given the rating of B+ (Very Good) by A.B. Best Company, the most recognized insurer rating agency in the industry.
Medicare Supplement Insurance Plans Offered by Liberty Bankers Life Insurance Company
Liberty Bankers sells several supplemental plans, Plan A, F, G, and N.
With Medigap Plan A, you’ll get the basic additional coverage:
- Medicare Part A hospital copayment for days 61 through 150, as well as an additional 365 lifetime days once the enrollee’s lifetime reserve day’s end.
- The first three pints of blood needed each year
- Part A hospice copayment and / or coinsurance
- Medicare Part B copayment
Maybe you don’t want just the basic coverage. Maybe you want to get the maximum about of supplemental protection, then go to a Plan F.
- Medicare Part A hospital copayment for days 61 through 150, as well as an additional 365 lifetime days once the enrollee’s lifetime reserve days end.
- The first three pints of blood needed each year
- Part A hospice copayment and / or coinsurance
- Medicare Part B copayment
- Medicare Part A deductible
- Skilled nursing facility copayment (Days 21 through 100)
- Medicare Part A deductible
- Medicare Part B deductible
- Medicare Part B excess charges
- Foreign Travel Emergency coverage (up to the plan’s limit of 80 percent)
If you want something in between F and A, Medigap Plan G,gives great protection:
- Medicare Part A hospital copayment for days 61 through 150, as well as an additional 365 lifetime days once the enrollee’s lifetime reserve days end.
- The first three pints of blood needed each year
- Part A hospice copayment and / or coinsurance
- Medicare Part B copayment
- Medicare Part A deductible
- Skilled nursing facility copayment (Days 21 through 100)
- Medicare Part A deductible
- Medicare Part B excess charges
- Foreign Travel Emergency coverage (up to the plan’s limit of 80 percent)
With Medicare Supplement Plan N, there is also a well rounded benefit mix, such as:
- Medicare Part A hospital copayment for days 61 through 150, as well as an additional 365 lifetime days once the enrollee’s lifetime reserve days end.
- The first three pints of blood needed each year
- Part A hospice copayment and/or coinsurance
- Medicare Part B copayment
- Medicare Part A deductible
- Skilled nursing facility copayment (Days 21 through 100)
- Medicare Part A deductible
- Foreign travel emergency coverage
For a Plan N, you have to pay 100% of Part B coinsurance. The only time you won’t is for office visits and some emergency room copayments.
Medicare Supplement Plans Offered Through Liberty Bankers Life Insurance Company
| Plan | A | G | F | N |
|---|---|---|---|---|
| Medicare Part A Hospitalization Coinsurance | X | X | X | X |
| Medicare Part B Medical Expenses Coinsurance | 100% | 100% | 100% | 100% |
| The First 3 Pints of Blood | X | X | X | X |
| Hospice Care Coinsurance or Copayment | X | X | X | X |
| Skilled Nursing Facility Coinsurance | X | X | X | |
| Medicare Part A Deductible | X | X | X | |
| Medicare Part B Deductible | X | |||
| Excess Doctor Charges (Part B) | X | 100% | ||
| Foreign Travel Emergency | X | X | X | |
| Out-of-Pocket Annual Limit |
Predictable expensesThe Medicare Supplement insurance plans that are offered through Liberty Bankers Life Insurance Group provide many favorable benefits, such as:
- Freedom to choose any doctor or hospital that accepts Medicare
- Freedom to see any specialist that accepts Medicare - without the need for a referral
- Security of the same benefits over time
- Guaranteed renewable coverage
- Coverage while traveling outside of the United States (depending on the plan that is chosen)
Other Products and Services Offered Through Liberty Bankers
We also want to show you some of the other products you can buy through Liberty Bankers. They also sell life insurance and annuities.
LBL includes both term and permanent options, as well as final expense coverage. These plans offer some of the latest designs and riders, as well as features such as critical illness coverage, and an innovative approach to return of premium.
Due in large part to worry about running out of income in retirement, annuities have become much more popular over the past decade or so. The retirement annuities that are offered via LBL include both immediate and deferred options, which offer a wide range of different features in order to satisfy a variety of financial needs.
How to Get the Best Premium Rates for a Medicare Supplement Insurance Plan
The government regulates these supplement plans. Every company offers the same coverage for the same letter. The key difference is how much you’re going to pay every month.
Sure, you can contact all of the medicare supplement carriers available, or you can make one call. We work with some of the top Medicare supplement carriers in the United States. The benefit to working with us, instead of a traditional broker, is you get access to dozens of companies all at once.