by Russell Noga | Updated April 12th, 2024
Medicare Parts A & B are federally-funded healthcare insurance policies paying for hospital and medical expenses for eligible seniors.
Medicare is a valuable financial resource for retirees and pensioners, helping them mitigate their annual healthcare costs. However, these policies only cover 80% of most Medicare Part A & B services.
The policyholder must pay the remaining costs out-of-pocket. If you have an extended stay at a hospital, you could still end up with a huge bill. Unexpected healthcare expenses could ruin your financial planning for your retirement. A Medicare supplement plan, “Medigap,” can partially or fully cover these out-of-pocket expenses.
Medigap plans are available from private healthcare insurers, like Globe Life, Aetna, Mutual of Omaha, Allstate, and many more.
You can buy a Medigap policy for six months after your 65th birthday during Open Enrollment. Medigap insurance companies must approve your application for coverage during this time, even if you have a pre-existing health condition.
This article looks at Medigap plans from Globe Life Insurance Company. We’ll unpack the plans they offer, the benefits of each policy, and the average monthly premiums you’ll pay for a plan.
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Globe Life Medicare Supplement Plans at a Glance
- Globe Life has a huge range of Medigap plans.
- High-deductible Plans F & G are available.
- Premiums are higher than average across most plans.
Who Is Globe Life?
Founded in 1900, Globe Life and Accident Insurance Company is a subsidiary of United American and the Torchmark Corporation. The company has headquarters in McKinney, Texas. Today, Globe Life operates as a subsidiary of Torchmark Corporation.
The Globe Life brand includes the United American Insurance Company and Globe Life of New York. Globe Life offers Medigap plans under the “GlobeCare” brand. It sells Medigap plans in 46 states, including the District of Columbia.
What Medicare Supplement Plans Does Globe Life Offer?
Globe has a great range of Medigap plans. The only policy it doesn’t offer is Plan M. Here’s a brief breakdown of the coverage provided in each plan.
Plan A – Basic benefits for Medicare Part A, but no coverage for the Part A deductible. It also covers Medicare Part B coinsurance and copayments.
Plan B – Basic benefits and coverage for the Medicare Part A deductible.
Plan C – Near-comprehensive coverage, including cover for the Medicare Part B deductible, but no coverage for Medicare Part B excess charges.
Plan D – Near-comprehensive coverage, but doesn’t cover Medicare Part B excess charges or the Part B deductible.
Plan F – First-dollar coverage for all Medicare Part A & B benefits.
Plan F (HD) – The same coverage as the standard version, but the Medicare Part B deductible increases from $1,600 to $2,700. However, premiums are up to 80% cheaper than the standard plan.
Plan G – Near comprehensive coverage but doesn’t cover the Medicare Part B deductible.
Plan G (HD) – The same coverage as the standard version and the same Medicare Part A deductible increase as HD Plan F.
Plan K – A 50% cost-sharing policy with a $6,940 out-of-pocket limit.
Plan L – A 75% cost-sharing policy with a $3,470 out-of-pocket limit.
Plan N – Copayments for visiting the doctor’s office and hospital. There is no coverage of Medicare Part B deductible or excess charges.
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Globe Life Medicare Supplement Plans – Benefits & Coverage
Globe Life Medigap plans feature benefits standardized by the Federal agency CMS. As a result, all Medigap providers offer the same benefits in their plan offering.
All Medigap plans offer the following benefits for Original Medicare Parts A & B.
- Part A coinsurance and hospital costs for up to 365 days after using up Medicare benefits.
- Part A hospice care coinsurance or copayment.
- Part B coinsurance or copayment.
- Blood transfusion costs for the first three pints of blood.
Plans C*, F*, G, and N offer additional Medicare Parts A & B benefits.
- Part A deductible.
- Part B excess charges (Plan C & N don’t cover these charges).
- Skilled nursing facility care coinsurance.
- 80% of emergency healthcare costs when traveling outside the US for 60 days. ($250 deductible and $50,000 maximum apply).
- Unlimited coverage for all out-of-pocket costs.
*Plans C & F include coverage for the Medicare Part B deductible. As a result, the CMS is phasing them out, and they aren’t available to seniors eligible for Medicare after January 1, 2020. If you were eligible for Medicare before this date and didn’t have a Medigap plan, you can still apply for Plans C & F. However, you might have to undergo medical underwriting.
If you have pre-existing conditions, Globe Life can charge you higher-than-average premiums for your policy or deny your application. You might qualify for a guaranteed issue right that circumvents the need for underwriting. Call our insurance agents today, and we’ll assess your eligibility for these consumer protections.
What Globe Life Medicare Supplement Plans Don't Cover
Medigap plans cover Original Medicare Part A & B out-of-pocket costs. They don’t have coverage for any hospital or medical expenses unrelated to these policies. There’s no coverage for private-duty nursing or stays at unskilled nursing facilities. You don’t have coverage for prescription or hearing, dental, and vision services.
Medigap policies don’t cover cosmetic procedures or preventative treatments at the physiotherapist, chiropractor, acupuncturist, or podiatrist. In some cases, Medicare might cover these costs if deemed medically necessary by your doctor. In that case, Medigap will cover the out-of-pocket amounts.
Globe Life Medicare Supplement Plans – Premiums
Globe Life sets your monthly premiums based on your risk profile. The company uses factors like your age, smoking status, gender, and location to calculate your risk profile. Here are the average premiums for Globe Life Medigap plans for a 65-year-old female nonsmoker.
*Your rates may vary depending on your risk profile.
Globe Life Medicare Supplement Plans – Additional Benefits & Discounts
Contact us for information on Globe Life’s perks and benefits. The company may offer the SilverSneakers program for discounts on gym memberships and various other wellness discount programs on certain policies.
Globe Life Medicare Supplement Plans – Third-Party Ratings & Reviews
Globe Life has an A rating with AM Best, an AA- rating with S&P, and an A+ rating with the Better Business Bureau.
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Frequently Asked Questions
What are Globe Life Medicare Supplement Plans?
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If you have questions about Medicare Supplement plans, call our team at 1-888-821-0229. We offer professional advice on Medigap policies. Our fully licensed agents offer free consultations to give you all the information you need about Medigap. If you want someone to call you back, leave your details on the contact form and we’ll get a Medigap expert to reach out to you.
Russell Noga is the CEO and Medicare editor of Medisupps.com. His 15 years of experience in the Medicare insurance market includes being a licensed Medicare insurance broker in all 50 states. He is frequently featured as a featured as a keynote Medicare event speaker, has authored hundreds of Medicare content pages, and hosts the very popular Medisupps.com Medicare Youtube channel. His expertise includes Medicare, Medigap insurance, Medicare Advantage plans, and Medicare Part D.