Bankers Life and Casualty Company Medicare Supplement Plans in New York
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| MedicareWire Rating: | |
|---|---|
| A.M. Best Rating: | B |
| A.M. Best Outlook: | Positive |
| S&P Rating: | |
| Established: | 1998 |
| NAIC Number: | 81043 |
| Policy Fee: | None |
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What Medigap plans does Bankers Life and Casualty Company offer in New York?
Bankers Life Insurance Co. offers 9 different Medicare Supplement Plans in New York. Each lettered plan pays Medicare benefits differently (see Comparison Chart or check out our Review). Here they are at a glance:
Community Rated Medigap Plans: When a plan is "Community Rated" the community will all be charged the same monthly premium if enrolled in the same plan. As an example, if you enroll at age 65 or 72 you would be charged the same amount. Premiums will increase, but your age will not be a factor.
Bankers Life and Casualty Company Medigap Plan Benefits Comparison Chart
The following table shows what each Bankers Life and Casualty Company Medigap plan covers:
Medigap Plan Benefits
| Benefits | A | B | F | G | F (HD) | K | L | M | N |
|---|---|---|---|---|---|---|---|---|---|
 Part A Deductible | No | Yes | Yes | Yes | Yes | 50% | 75% | 50% | Yes |
| Part A Co-insurance | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| SNF Co-insurance | No | No | Yes | Yes | Yes | 50% | 75% | Yes | Yes |
| Part B Deductible | No | No | Yes | No | Yes | No | No | No | No |
| Part B Co-insurance | Yes | Yes | Yes | Yes | Yes | 50% | 75% | Yes | Yes |
| Excess Charges | No | No | Yes | Yes | Yes | No | No | No | No |
| Foriegn Travel | No | No | 80% | 80% | 80% | No | No | 80% | 80% |
| Out-of-Pocket Limits | No | No | No | No | No | $5,880 | $2,940 | No | No |
REVIEW: Bankers Life and Casualty Company Medicare Supplements in New York
Bankers Life and Casualty Company scored 4.0 out of 5.0 based on our scoring method. Bankers Life and Casualty Company has a good Plan F rate (top 10), and they have been servicing Medicare Supplements for 22 years, but their A.M. Best financial rating is unknown or not great. Consequently, we cautiously recommend this carrier to New York seniors. See the top 10 competition.
Here are the pros and cons from our analysis:
Pros
- Competitive Plan F premium.
- More than 20 years in the Medicare Supplements business.
- No charge for writing the policy.
Cons
- Fair financial strength.
- Does not offer Medicare SELECT plans.
- Does not offer the 5 most popular plans.
About This Review
We reviewed Bankers Life and Casualty Company's Medigap plan offering in New York versus all other carriers in the state. Our review is unbiased. We use a formula that looks at years in business, A.M. Best financial strength rating, plans serviced, plan premiums and fees. We do not take into account rate increase history. Our goal is to present information accurately and without bias, based on our interpretation of factual information about each carrier.
