Globe Life Medicare Supplement plans, also known as Medigap plans, are designed specifically for senior citizens and disabled individuals enrolled in Medicare Part A and Medicare Part B. If you are entering your Medicare Enrollment Period soon, now is the time to start looking into and thinking about Globe Life Medicare Supplement plans. Designed to fill in the gaps of coverage left behind by the federal Medicare program (Medicare Part A and B), Globe Life Medigap plans can save you a lot of money.
Once you sign up for a Medicare Supplemental plan through a private health insurance company, you’ll be able to enjoy these benefits to help you save money on your medical expenses:
- Supplements your Original Medicare coverage (Medicare Parts A and B)
- You can choose any doctor in the United States that accepts original Medicare without worrying about network restrictions
- There are no referrals required
- You can travel without concern, knowing that you have coverage in all 50 states
- There are no annual plan changes to worry about as each plan level’s benefits are standardized
- You can enjoy very predictable coverage
- It’s preferred by most doctors and hospitals
What Medicare Supplement Plans Does Globe Life Offer?
The real perks will depend on which lettered plan you choose. Our Medicare Supplement plans comparison chart makes it easy to decide which Medicare Supplement plans might interest you.
Globe Life Medicare Supplement Plan F
Of all of the Globe Life Medicare Supplement plans, Medigap Plan F offers the most benefits. So, of course, it only makes sense that this plan typically has the most expensive monthly premiums, considering its robust coverage. However, if you have health conditions and therefore find yourself seeking healthcare frequently, then you can stand to save a lot. It’s also good if you prefer reliable, predictable coverage and healthcare costs.
Here is a list of the coverage you can enjoy if you sign up for Globe Life 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
This is the only type of Medicare Supplement policy that is also available as a high deductible plan. This might be an option if you want to supplement your Medicare benefits in the best way possible while keeping your monthly premiums down. However, be aware that you will have to pay a deductible before you can start enjoying the benefits offered by your health and life insurance company, such as Globe Life and Accident Insurance Company, if you choose this high-deductible option.
Globe Life Medicare Supplement Plan G
When shopping for Medicare Supplement plans, you might want to check out Globe Life Medicare Supplement Plan G.
- It does not cover the Medicare Part B deductible
- Otherwise, it’s the same as Medigap Plan F
- It offers robust coverage for a more affordable monthly price
- Medigap Plan G is the fastest growing plan
- It will still be available even after Medigap Plan F is phased out
Globe Life Medicare Supplement Plan N
Globe Life Medicare Supplement Plan N is another one of the more popular Globe Life Medicare Supplement plans. When you compare it to Medigap Plan F or Medigap Plan G, you’ll see that it doesn’t cover as much as those plans do. However, it still offers great coverage and has lower premiums. It’s a cost-sharing option, and you’ll need to be prepared to cover some costs. However, if you don’t mind doing that, you might find it a good option.
A few things to know before signing up for a Medicare Supplement plan N:
- It does not cover Medicare Part B deductible
- It does not cover Medicare Part B excess charges
- There are copays when you visit the doctor ($20) or when you visit the emergency room ($50)
When Can I Enroll in a Globe Life Medicare Supplement Plan?
You can sign up for Medicare Supplement plans as long as you are enrolled in Medicare Part A and Part B. However, if possible, the best time for you to sign up is during your Medigap Open Enrollment Period. This is the six-month period around the time when you’re first able to sign up for Medicare. Here’s why this is the best time to sign up:
- Enjoy coverage right away after enrolling in Medicare Parts A and B
- Enjoy guaranteed issue rights; if you sign up during this period, you don’t have to worry about being turned down for Medicare Supplement plans because of health conditions
- Avoid paying higher rates because of health conditions
Outside of the Medigap Open Enrollment Period, there may be other situations when you can sign up for a plan without worrying about medical underwriting. For example, suppose you have an HMO or PPO Medicare Advantage plan and move outside your plan’s network. In that case, a special period is triggered so you can sign up for a Medigap policy without medical underwriting. The same is true if you lose employer coverage or in a few other circumstances.
Even if you aren’t in one of these special periods, you can still sign up for Medigap plans. Some companies are stricter regarding medical underwriting, so it’s wise to apply for a few plans and compare rates to find the best option for you. Our licensed insurance agents can assist you with this, so contact us if you need help signing up for a policy at any time.
Do Globe Life Medigap Plans Include a Medicare Part D Plan?
Neither Medicare Part A nor Medicare Part B includes prescription drug coverage. This coverage is not included with any of the Medigap Supplement insurance plans, either. Instead, you’ll need to sign up for a separate, stand-alone Medicare Part D drug plan. The best Medicare Supplement insurance companies often offer these plans, and it’s best to sign up for one of these plans as soon as you can. If you don’t sign up for creditable coverage when you’re first eligible for Medicare, you could face a Medicare Part D late enrollment penalty. Therefore, you should not wait around before signing up.
Globe Life Medicare Supplement Plans Review
Knowing that you have coverage through a company you can count on is probably important to you, which is definitely something we understand. Even though Globe Life is not the most prominent company offering Medicare Supplement plans, it is a well-known and well-established company with good A.M. Best ratings. With many “mom and pop” companies popping up to compete for business from the aging Baby Boomer population, it’s best to buy Medicare Supplement plans from reliable, reputable, and well-known companies.
Of course, we think you should check out Medicare Supplement quotes for rates for other companies, too, to make sure that you’re getting the best deal on your Supplemental insurance. For example, you may want to get Medicare Supplement plan quotes from other companies that offer Medicare Supplement insurance policies, like Aetna, Cigna, Florida Blue, and Mutual of Omaha. With our help, you can compare these quotes online to find the best Medigap insurance plan for you.
Plus, we’ll help you make sure that you buy your plan — whether it’s Plan A, Plan B, Plan C, or any other plan — from an American insurance company with good financial strength, a reputation for handling claims filing properly, and more. So we want you to find the plan that will help you save the most on healthcare expenses throughout the calendar year, and we also want you to sign up with the overall best company for you.