Quality insurance through providers like Colonial Penn Health Insurance can be few and far between for you to discover without doing extensive research. The following information about Colonial Penn Health Insurance is intended to help you narrow the field of choices for yourself in your quest for quality health care.
Getting Answers to Key Questions
Some of the key questions you might have about health insurance might include:
• How much coverage will I need?
• Does Health Insurance provide the types of coverage I need?
• What are the different financial considerations to be made about paying for health insurance?
• Does Health Insurance contain coverage that are cost-effective and affordable for my situation?
Colonial Penn Insurance has been in business for a long time with 850,000 policies on the book. By virtue of a special arrangement with Banker’s Life and Casualty, Colonial Penn Health Insurance products are offered for sale in 49 of the 50 states. Banker’s Life and Casualty is headquartered in Illinois and was founded in 1879. In the health insurance market, Banker’s Life and casualty focuses on senior’s health care.
Health Insurance Products
Through its special relationship with Banker’s Life and Casualty, Colonial Penn Health Insurance offers quality health insurance products such as:
• Medicare Supplement plans
• Specialty Life insurance plans
• Long Term Care/Home Health Care plans
• Medicare Advantage plan
• Medicare Prescription Drug plan
Leading Medicare Plans
Colonial Penn’s Medicare Supplement Plan is one of its most popular products. The MSP:
• Pays for specific out of pocket costs traditional for which traditional Medicare does not such as ambulance transport, extended stays in the hospital, co-insurance for physicians and health care facility stays, and deductibles for Medicare approved expenditures.
• Allows you to select a doctor of your choice.
• Allows specialist visits without a referral.
• Is free of self-filing claim form requirements.
• Is guaranteed to be renewed if your policy has been paid up.
Colonial Penn’s Medicare Advantage product based on private fee for service rates. This makes this Medicare Advantage plan low cost. Some features include:
• Zero deductibles
• Client choice of doctor
• Zero co-pays for regular visits and screenings
• Set-rate co-payments
Limitations on the Medicare Advantage coverage include the following.
• Fee for service rate plans might subject policyholder to having to strike an agreement with a medical provider on the fee to be paid for service before receiving care, unless it is emergency care.
• Policyholder must be receiving Medicare Part A benefits.
• Policyholder must be enrolled in Medicare Part B.
• End stage renal complex will result in all policies being rendered null and void or will disqualify shopper from eligibility.
• Part B coverage must be self-paid even if Medicare is not covering it.
The Medicare Prescription Drug Plan is not offered through Colonial Penn Health Insurance programs marketed through Banker’s Life and Casualty. However, there are alternatives. Consult the Colonial Penn website for further details.
Shop Around to Make Direct Comparisons
This article provides specific details about some of the most popular health care concerns among insurance shoppers. Colonial Penn Health Insurance does measure up to the high standards consumers have for health care insurance.