Forethought Life Insurance Company Medicare Supplement – Medigap Plans by Forethought

The Forethought Life Insurance Company is a member of Forethought Financial Group, a larger diversified financial organization focused on helping people plan for retirement and end-of-life expenses.  Forethought has a history of over 25 years of financial strength and stability.  There are five Forethought Life Insurance Company Medicare Supplement plans, which are guaranteed renewable.  Policy owners will not receive rate increases because of benefit payouts.  However, all plans get increases from time to time, and your agent will shop the plans each year to get the best possible rates as necessary.  The following Forethought Life Insurance Company Texas Medicare Supplement plans are available in plans:  A, C, F, G, and N.

Individual Medicare Supplement plans, also called Medigap Insurance Policies, are offered by insurance companies, like Forethought.  However, the benefits provided are mandated by Medicare.  These benefits are intended to fill the gaps that exist naturally in Medicare Part A and Part B.  Medigap policies are purchased in addition to Part A and Part B.  Each combination of possible benefits is labeled with a letter.  The Texas Department of Insurance regulates all Medicare Supplement policies offered within the state.  Here are the covered benefits for the five Forethought Life Insurance Company Medicare Supplement plans available.

1.  Forethought Life Insurance Company Medicare Supplement Plan A
The most basic of Medigap plans, this policy helps to fill in the most crucial gaps in coverage by traditional Medicare.  Part A Medicare has to do with hospital coverage, and the first 90 days of a hospital stay are covered.  However, there are coinsurance responsibilities for the patient for days 61-90.  Plan A allows for the payment of these coinsurance costs, and provides an extra 365 days of hospital coverage after the Medicare benefits are used. 

Medicare Part B provides coverage for doctor visits and more.  The Medicare Supplement Plan A policy from Forethought pays the coinsurance costs for Part B coverage after the patient meets the Part B deductible ($140 in 2012).  In addition, this Medigap plan covers the first three pints of blood needed by the patient in a Medicare Benefit period.  Finally, some hospice services are covered by traditional Medicare.  Plan A covers the coinsurance costs from the covered hospice prescription drugs and inpatient respite care covered by Medicare. 

2.  Forethought Life Insurance Company Medicare Supplement Plan C
When purchasing a Plan C Medigap policy, a patient receives coverage for all the basic benefits which are included in Plan A.  There are another four areas of coverage included as well, including:

• The coinsurance costs for days 21-100 of skilled nursing care facility coverage are provided for with Plan C.
• The Medicare Part A deductible in 2012 is $1156.  A Plan C policy pays the Part A deductible for the patient.
• The Medicare Part B deductible in 2012 is $140.  The Part B deductible is also paid by the Plan C policy. 
• Plan C coverage also provides for emergencies that occur during foreign travel (traditional Medicare benefits are not in force when you are out of the country).  Forethought will pay 80% of the costs incurred (the patient is responsible for 20%), but a deductible of $250 must be met first.

3.  Forethought Life Insurance Company Medicare Supplement Plan F
The most thorough of all the Medicare Supplement Plans, Forethought Life Insurance Company Medicare Supplement Plan F covers all the areas allowed by Plan C.  In addition, excess charges from Medicare Part B are covered.  Excess charges happen when the patient uses the services of a doctor or facility that does not accept Medicare.  This can increase the cost by up to 15%.  Plan F policies pay for these excess charges. 

4.  Forethought Life Insurance Company Medicare Supplement Plan G
Plan G has everything Plan F has, except the policy does not pay the Part B deductible ($140 in 2012). In most cases this plan offers the best value due to the lower rates. Traditionally this plan also experiences lower rate increases.  

5.  Forethought Life Insurance Company Medicare Supplement Plan N
Plan N is similar to Plan G, but it has two major differences.  The first is that Part B excess charges are not covered under this plan.  The second is that there are conditions to the 100% coverage of the Part B coinsurance.  With Plan N, the patient will have to pay copays ($20) for certain visits to the doctor.  There will also be a $50 copay for emergency room trips (only if the patient is not admitted to the hospital).

 As a rule Plan F & G are the most popular options for seniors as the worry of escalating medical expenses are for the most part eliminated, protecting more of that precious nest egg for those on a fixed income.

 In the time we have done business with Forethought we have noticed consistently competitive rates, high quality customer service and clients seem quite happy with their choice. Explore their rates of Texas Medigap Plans, they could be the perfect plan for your situation.