Forethought is not as “household” of a name as some of the other companies in the Medicare Supplement sphere. However, it is a highly rated company, has been in business for 25+ years, and their Medicare Supplement plans are often very competitively priced when compared to other options.
As you may already know, Medigap plans (another name for Medicare Supplements) are Federally-standardized. This means that all companies are required to offer the same coverage plans. A Plan F with one company, for example, is the exact same as a Plan F with another company. Because of this plan standardization, it is essential to compare plans on the primary basis of price. And, price can vary considerably.
Forethought typically offers Plans F, G and N, which are the three most commonly held plans. Plan F is the most comprehensive plan – it pays everything that Medicare A & B do not cover at the doctor or hospital. Plan G is secondary to Plan F – it pays everything that Medicare doesn’t cover with the exception of the Medicare Part B deductible. For 2013, this deductible is $147/year. Forethought often has the most competitively priced Plan G in areas where their plans are offered. Lastly, they also offer Plan N. Plan N is a good option for people in relatively good health. It is the same as ‘F’ at the hospital (Part A) but it does not cover the Medicare Part B deductible. Also, after the deductible is met, you have an up to $20 co-pay for doctor visits.
Forethought offers Medicare Supplements in many states and is always expanding their offerings. Here are a few states in which they are competitively priced currently – in these states, they are one of the, if not the very, lowest priced option on Plan F, G, and/or N. The states are: KY, SC, IN, OH, VA, AZ, TX, NJ, and OK.
If you are going on Medicare, it is highly advisable that you do a full comparison of the available options. The last thing that you want to do is choose a plan that is $140/month, when you can get equal coverage for $100/month. The differences in premium can be that large sometimes. Even if Forethought is not the company that has the lowest price in your area, it is wise to find out who is. The best way to do this is through an independent brokerage or agency. Whether it is us or someone else, we recommend that this is the first step you take when comparing Medicare Supplement plans.
If you have any questions about this information or would like to get specific quotes for Forethought Medicare Supplement (and other companies’ plans) for your age and zip code, please contact us by phone at 877.506.3378 or on our website at Medicare-Supplement.US.