Bankers Fidelity Medicare Insurance Review & Complaints: Medicare Supplement Insurance

Bankers Fidelity Medicare Supplement coverage is available, but little information is provided on the company website, and there is no list of which Bankers Fidelity Medicare plans are offered. Bankers Fidelity Medicare Supplement rates are not provided online, but quotes for Bankers Fidelity Medicare Supplement can be requested from an agent.

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Eric Stauffer is a former insurance agent and banker turned consumer advocate. His priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.

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Written by Eric Stauffer
Founder & Former Insurance Agent Eric Stauffer

Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years Leslie Kasperowicz

UPDATED: Jan 26, 2022

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Bankers Fidelity

Financial Strength

The Highlights

  • Bankers Life Medicare Supplement plans are underwritten by Colonial Penn
  • All 12 of the standard Medicare Supplement plans are available from Bankers Life, including two high deductible plans
  • Medicare Part D prescription drug coverage is not available from Bankers Life

In business since the mid-50s, Bankers Fidelity Life provides life insurance and supplemental health insurance products. Their main focus is on the needs of seniors, and they offer coverage across the country.

Our Bankers Fidelity Medicare insurance review focuses on the Medicare supplement policies offered by the company. We’ll cover everything from Bankers Fidelity Medicare supplement reviews to the Bankers Fidelity Medicare Supplement address.

It’s important to compare rates from the best insurance companies before you buy to make sure you’re getting the best deal on the coverage you need.

Before you read more about Bankers Fidelity Medicare, take the time to gather rates. Enter your ZIP code now to see quotes on medicare supplement insurance from multiple insurance carriers near you.

About Bankers Fidelity Life Insurance Company

Bankers Fidelity Life Insurance Company was founded in Atlanta, Georgia in 1955. They have been a subsidiary of the Atlantic American Corporation since 1975, and they are licensed to write insurance policies in 46 states as well as the District of Columbia. This expansion is in part due to the acquisition of Direct Life Insurance Company in 2014, now known as Bankers Fidelity Assurance and a subsidiary of Bankers Fidelity Life.

Bankers is entirely focused on senior insurance products. They write final expense life insurance, short-term care, and Medicare Supplement insurance among other supplemental health insurance policies.

The company’s headquarters remain in Atlanta, but they offer coverage through independent local agents across the nation.

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Bankers Life Medicare Supplement Insurance

Medicare Supplement plans from Bankers Life vary depending on the state. They offer an option to see popular plan choices and get a quote, but only by entering all of your contact information and agreeing to have your information forwarded to an agent for solicitation.

Without submitting this form, we were unable to get a list of the insurance plans offered by this company.

We can assume they offer Plan A since all companies that write Medicare Supplement are required to offer as a base plan. It covers all of the coinsurance amounts from Medicare Parts A & B, as well as the first three pints of blood each year.

It is likely that they have several other choices beyond A, but we cannot venture a guess as to which ones. Bankers Fidelity Medicare Supplement Plan G or F may be available.

Which Medicare Supplement Plan Should you Choose?

Your choice of Medicare supplement coverage depends on your budget and how much out of pocket cost you’re ok with. Take a look at the table below to compare the coverage from basic Supplement plans.

Medicare Supplement Plan Comparison
CoveragePlan APlan BPlan CPlan DPlan FPlan GPlan KPlan LPlan MPlan N
Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used upYesYesYesYesYesYesYesYesYesYes
Part B coinsurance or copaymentYesYesYesYesYesYes50%75%YesYes
Blood (first 3 pints)YesYesYesYesYesYes50%75%YesYes
Part A hospice care coinsurance or copaymentNoYesYesYesYesYes50%75%YesYes
Skilled nursing facility care coinsuranceNoNoYesYesYesYes50%75%YesYes
Part A deductibleNoYesYesYesYesYes50%75%50%Yes
Part B deductibleNoNoYesNoYesNoNoNoNoNo
Part B excess chargeNoNoNoNoYesYesNoNoNoNo
Foreign travel exchange (up to plan limits)NoNo80%80%80%80%NoNo80%80%
Out-of-pocket limit in 2020N/AN/AN/AN/AN/AN/A$5,880$2,940N/AN/A
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Plans F and G also have a high-deductible option. Speaking with a representative can help you to decide on an affordable Bankers Fidelity Life Medicare Supplement plan for you.

How to Get Bankers Fidelity Medicare Supplement Rates

As mentioned above, rates are not available unless you enter personal contact information, and we were unable to get the site to accept our sample contact information. As a result, we were not able to obtain Bankers Fidelity Medicare Supplement quotes.

Bankers does appear to have moved into the new age somewhat, at least offering the possibility of online quote tools, but continues to rely heavily on agents. As a result, the “no obligation” quotes often turn into repeated calls from agents, something a lot of people may find bothersome.

Quotes can also be obtained by email and over the phone – and of course through a local independent agent.

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How to File Bankers Fidelity Medicare Supplement Claims

The site lists a claims phone number, as well as an email address and the Bankers Medicare Supplement claims address. There are no details regarding the claims process, nor do they state whether any Medicare Supplement claims should be submitted this way.

In most cases, Medicare Supplement claims are handled through the Bankers Fidelity Medicare Supplement provider portal, so it is not unusual to see a limited amount of information on claims.

What are the Bankers Fidelity Medicare Ratings and Consumer Reviews?

At the time of our last review, we were unable to find a Better Business Bureau (BBB) record for Bankers Fidelity Life, and that appears to still be the case. Their parent company, Atlantic American, does have a BBB page with an A+ rating and only one complaint in the past three years.

We were unable to find much in the way of Bankers Fidelity Medicare Supplement complaints or other information anywhere else, either, which is surprising given how long they have been in business. As a result, it is difficult to form an opinion on their reputation, although no reviews is generally a positive thing when it comes to insurance companies.

Bankers Fidelity Medicare Supplement: What’s the Bottom Line?

There is simply not enough information on this company make a real recommendation. Without plan details, rates, and any sort of consumer ratings, we cannot form a solid conclusion in regards to whether or not you should buy Bankers Fidelity Medicare Supplement insurance.

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