How GPM Life Medicare Supplement Plan G is your best bet?
Government Personnel Mutual is one of the top Medicare Supplement companies with a backing of decades of experience. GPM Supplement Plans include the mandatory Plan A and others, such as plans B, C, D, F, G, K, L, M, and N. The best offer from this company is not the variety of supplement plans it offers, but it is the assets it keeps to backup the offered insurance. So, you can be free from uncertainty and worries if you are dealing with GPM.
The company, which was established in 1934, performed well throughout its lifespan even when its economic surroundings were dwindling. One key feature that distinguishes GPM from other Medicare insurance providers is its management structure.
Unlike other insurance companies which are accountable to, and share profit with, their shareholders, GPM is owned by policyholders. A.M. Best Rating service estimates GPM’s rating at A- because of its asset-backed position which allows it to pay for claims timely and efficiently. From the annual reports of 2017 from the company, it has surplus assets of $116,752,635.
Like other supplement plans offered by this company, GPM Life Medicare Supplement Plan G is also covered by the assurance of excess surplus it maintains.
In addition to regular Medicare Supplement plans, the company also offers other insurance products including final expense insurance and annuities. These additional offers make this company more attractive among potential customers because of increased trust they carry.
GPM Life Medicare Supplement Plan G
A year ago, GPM Life Medicare Supplement Plan F was the center of attention from customers. But Congress’ decision of dropping this plan from the list meant that attention of policyholders is shifter towards the second most comprehensive plan. Medicare Supplement Plan G was only second to Plan F in minimizing out-of-pocket health care costs.
The only difference in Supplement plan G and most pursued plan of last years, Plan F, is that the latter covers Medicare Part B deductible where the former doesn’t.
It should be noted that Medicare Part B deductible is a relatively certain cost. This certainly means that even after including this cost in out-of-pocket costs, GPM Life Medicare Supplement Plan G remains fairly certain in terms of overall health care costs of policyholders.
An overview of costs included under Supplement plan from GPM is given below:
- Basic benefits of Medicare Part A and Part B coinsurance,
- First 3 pints of blood,
- Skilled nursing facility care,
- Part A hospice care coinsurance or copayment,
- Part A deductible,
- Part B excess charges, and
- Foreign travel emergency insurance.
For most people, it is Part B excess charges which make this plan more attractive to potential enrollees than Supplement Plan C.
If you are turning 65 this year, live in a state which is covered by GPM Life Insurance Company, and have considerable medical care needs which require the attention of specialized doctors and consultants, GPM Life Medicare Supplement Plan G is your best bet.
And what else is prominent here? It’s the variety of supplement plans offered by this company.