Colonial Penn Medicare Supplement Plans

Colonial Penn Medicare Supplement plans — and all Medicare Supplement plans — are plans that work in conjunction with Original Medicare.

Key Features of Colonial Penn Medicare Supplement Plans:

  • It works with your Original Medicare coverage.
  • You’ll have nationwide network freedom, so you don’t have to worry about seeking healthcare providers in specific networks.
  • There are no referrals required.
  • There are little to no annual plan changes, and each plan level’s benefits are standardized.
  • You can enjoy very predictable, reliable coverage.

What Medigap Plans Does Colonial Penn Offer?

Colonial Penn Medicare Supplement Plan G

Colonial Penn Medicare Supplement Plan G is another plan that you can consider. It offers robust coverage similar to what is provided with Medigap Plan F.

Key Features of Plan G:

  • Medigap Plan G is the fastest-growing Medicare Supplement plan.
  • Does not include Medicare Part B deductible.
  • Usually has lower premiums than Medicare Part F, making up for the cost of the Medicare Part B deductible in most cases.
  • Even though Medigap Plan F is being phased out for new Medicare enrollees in 2020, Medigap Plan G will still be available.

Colonial Penn Medicare Supplement Plan N

Eleven percent of people with Medicare Supplement plans have Medicare Supplement Plan N. This plan is top-rated because it has affordable monthly premiums compared to Medigap Plan F or Medigap Plan G, the other two most popular plans. It also offers more coverage than plans that provide a basic range, such as Medigap Plan A.

Naturally, since Colonial Penn Medicare Supplement Plan N is cheaper than the more comprehensive plans, you aren’t going to have as much coverage. Some cost-sharing is required. However, overall, it’s an excellent plan option for someone who wants a balance of benefits and affordability.

A few things you’ll want to know about these Medicare Supplement plans:

  • A $20 copay will be required when you go to the doctor.
  • A $50 copay will be required when you go to the emergency room.
  • Medicare Part B excess charges are not covered.
  • In addition, the Medicare Part B deductible is not included.

Colonial Penn Medicare Supplement Plan F

These benefits are offered with Medicare Supplement Plan F:

  • Part A hospital coinsurance
  • The hospital costs up to 365 days after benefits through Original Medicare are exhausted.
  • Part A hospice care copays or coinsurance
  • Part A deductible
  • Part B deductible
  • Part B preventive office visit coinsurance
  • Part B coinsurance or copays
  • Medicare Part B excess charges
  • First three pints of blood needed for a medical procedure
  • Coinsurance for care in a skilled nursing facility
  • Limited foreign travel emergency care
  • There is no out-of-pocket limit

When Can I Enroll in a Medicare Supplement Plan?

The best time to sign up is during your Medicare Enrollment Period. You will be given six months around your 65th birthday. This period is known as the Initial Enrollment Period or the Medigap Open Enrollment Period.

This is the best time to sign up for these reasons:

  • You’ll have guaranteed issue rights, so you can’t be turned down for a plan just because of your medical conditions.
  • You’ll get better rates since you can’t be charged higher rates because of medical conditions.

In certain situations, you may also qualify for other special periods without medical underwriting. Suppose you lose employer-sponsored coverage or are enrolled in a plan with network restrictions (such as Medicare Advantage) and move out of your plan’s network, for example. In that case, you can shop for a plan without medical underwriting.

Do Colonial Penn Medigap Plans Cover Medications?

A Medicare Part D prescription drug plan will not be included when you purchase any Medigap plans, whether you purchase Colonial Penn Medicare Supplement plans or Medigap plans from any of the best Medicare Supplement insurance companies.

You must purchase a stand-alone Medicare Part D prescription drug plan if you want prescription drug coverage. You can purchase this plan from the same company you buy your Supplemental policy from or from another company.

Next Steps

We specialize in guiding Medicare beneficiaries through their Medicare insurance options. We work with some of the nation’s top-rated Medigap carriers to ensure you’re getting the best possible service. Review our Medicare Supplement Plans Comparison Chart and look deeper at the plans. Additionally, you can call us today to learn more or request a quote online.

Article Resources:

Mark Prip

For more than two decades, Mark Prip at My Medigap Plans has been an authority figure in the insurance industry and continues to uphold a mission to provide customers with comprehensive information about Medicare, life, and dental coverage. In addition, his expertise is unmatched - having helped thousands of Medicare beneficiaries choose suitable healthcare plans for themselves - making him stand out above competitors.