Medicare Supplement Quotes

Gerber Company Review

Written by Evens Stevenson

One of the biggest expenses in most retirees’ budgets is health care. As we age, the need for certain medical services tends to increase – and due to the constantly rising cost, sometimes getting the necessary care can become unaffordable.

Even if you have Medicare Part A and B for hospitalization, outpatient surgery, doctor visits, and other health care needs, there can still be many out-of-pocket expenses, such as copayments, coinsurance, and deductibles.

In helping to combat these costs, there is Medicare Supplement Insurance. This type of coverage is designed to fill in many of Medicare’s coverage “gaps,” and because of that, it is often referred to as Medigap insurance.

gerber medicare supplement companyToday, there are ten different Medicare Supplement insurance plans to choose from. Each of these is named after a letter of the alphabet, starting with Plan A that provides the most basic set of “core” benefits. All of the other Medigap plans are required by law to provide the same set of coverage on plans of the same corresponding letter.

For example, regardless of which insurance company you purchase a Medicare Supplement Plan A from, the benefits will be the same. The premium price, however, can differ – in some cases, significantly. This is why it is important to shop and compare the prices of several different insurers before you make your Medicare Supplement insurance plan purchase.

It is also important that you review the financial strength and stability of the insurance company that is offering such plans so that you can be better assured that it will be there when you need it to pay claims. One insurer that has an excellent reputation in the Medicare Supplement insurance niche is Gerber Life Insurance Company.

The History of Gerber Life Insurance Company

Gerber Life Insurance Company has been providing qualify life insurance since 1967 – particularly for those who may be on a limited budget. As an affiliate of the Gerber Products Company – “the baby food people” – the two Gerber companies share one common goal, and that is to help parents in raising happy, healthy children. (Gerber Products Company, is,  in turn, a subsidiary of Nestle, in Fremont, Michigan).

In addition, Gerber Life also has a mission of being the company that parents and grandparents trust for helping them to achieve financial security and protection at all stages of life. By offering affordable, industry-leading juvenile life insurance, as well as life, accident, and Medicare Supplement insurance for adults, the company strives to give their customers the comfort and the peace of mind that they deserve.

Gerber Life Insurance Company Review

Gerber Life is a well-known and respected insurance carrier. The company is licensed to offer life insurance coverage throughout the United States, as well as in Canada and Puerto Rico. Today, the company has more than $45 billion of life insurance in force, and more than 3.3 million policies.

Throughout the years, the company has earned high accolades and awards. The company is also conservatively managed so as to ensure its long-term growth and financial stability – which provides its policyholders with assurance that the company will be there when they are needed.

Insurer Ratings and Better Business Bureau Grade

Due to its financial strength and stability, as well as its positive reputation for paying out policyholder claims, Gerber Life Insurance Company has high ratings from the insurer rating agencies. This includes an A (Excellent) from A.M. Best Company. (This reflects the third highest possible rating that is provided by A.M. Best).

In addition, even though Gerber Life Insurance Company is not an accredited company through the Better Business Bureau, the company has been given a grade of A+ by the BBB. This is on an overall grade scale of A+ through F.

Over the past three years, Gerber Life has closed out a total of 80 customer complaints through the Better Business Bureau (of which six of these were closed out within the past 12 months). Of the 80 total complaints, 49 centered around problems with the company’s product and service, another 15 had to do with advertising and sales issues, 12 were regarding billing and/or collection issues, and the remaining four had to do with delivery issues.

Medicare Supplement Insurance Plans Offered by Gerber Life Insurance Company

Gerber Life Insurance Company offers a wide range of Medicare Supplement insurance coverage. These plans include Plan A, Plan F, and Plan G, along with Medicare SELECT Insurance Plans F and G that can help to pay some of the eligible expenses that are not paid for by Medicare Part A and Part B.

For those who are seeking more of a basic Medicare Supplement insurance option, Plan A could be a viable choice. With Plan A, the following coverage is offered:

  • Part A of Medicare’s coinsurance, as well as hospitalization costs – up to an additional 365 days after the Medicare benefits, have been used up
  • Part B of Medicare’s coinsurance or copayment amount
  • The first three pints of blood that may be needed each year
  • Medicare Part A’s hospice care copayment or coinsurance amount

If someone is seeking more comprehensive coverage, then there are other Medicare Supplement plans offered through Gerber Life. Each of these must include the basic, core benefits that are provided via Plan A, along with other coverage options. For example, Medicare Supplement Plan F is considered to be the most comprehensive of all the Medigap insurance plans. This plan offers the following coverages:

  • Part A of Medicare’s coinsurance, as well as hospitalization costs – up to an additional 365 days after the Medicare benefits, have been used up
  • Part B of Medicare’s coinsurance or copayment amount
  • The first three pints of blood that may be needed each year
  • Medicare Part A’s hospice care copayment or coinsurance amount
  • Skilled nursing facility care coinsurance
  • Medicare Part A deductible amount
  • Medicare Part B deductible amount
  • Medicare Part B excess charges
  • Foreign travel emergency – up to the plan’s limits (80 percent)

Medicare Supplement Insurance Plan F also offers a high-deductible plan option. If you choose to go with this option, it means that you will first need to pay for your Medicare covered expenses, up to the deductible amount of $2,200 (in 2017) before the Medigap plan will start to pay out.

It is important to note that if you reside in the state of Wisconsin, Massachusetts, or Minnesota, the Medicare Supplement insurance plans are structured somewhat differently than those that are offered in other states.

Gerber Life also offers Medicare SELECT plans.  Medicare SELECT plans can help to meet health care needs, and budgets, in covering some of the costs of services such as Medicare’s hospitalization and doctors’ services, as well as certain costs that are related to a skilled nursing home need.

For example, all of the Medicare SELECT plans that are offered include these basic benefits:

  • Hospitalization – Medicare Part A coinsurance and coverage for 365 additional days after Medicare’s benefits end
  • Hospice Care – This includes outpatient prescription drug copayments and inpatient respite care coinsurance
  • Medical Expenses – Medicare Part B’s coinsurance, which is usually 20 percent of the Medicare-approved charges
  • Three pints of blood each year

The Medicare SELECT Plan A, F, and G Benefits Include The Following Coverage:

 Plan APlan FPlan G
Basic BenefitsXXX
Skilled Nursing CoinsuranceXX
Medicare Part A Deductible*XX
Medicare Part B DeductibleX
Medicare Part B Excess ChargesXX
Foreign Travel EmergencyXX

*The Medicare SELECT insurance plan pays the Medicare Part A inpatient deductible when you use a network hospital (or if you use a non-network hospital for emergency care). Otherwise, you pay the inpatient deductible.

Other Products and Services

In addition to offering Medicare Supplement insurance plans, Gerber Life Insurance Company also provides a wide array of other types of insurance protection. These include the following:

Adult Life Insurance

For adults, Gerber Life Insurance offers final expense, whole life insurance coverage. These plans are available to those who are between the ages of 50 and 80 – and regardless of health condition, acceptance for these plans is guaranteed. There are no medical exams to complete, nor any long health questionnaires to fill out. In most cases, applications can be completed online, and will usually only take a few minutes.

The face amount on these adult life insurance policies can range between $5,000 and $25,000. And, because these policies are whole life in nature, they will also build up cash value on a tax-deferred basis. This means that there is no tax due on the gain in these plans unless or until the money is withdrawn. (Cash value in these plans can be either borrowed or withdrawn by the policyholder and used for any reason).

These life insurance policies can provide the additional funds that loved ones may need for paying the insured’s funeral costs, and other related expenses such as flowers, a memorial service, and headstone.

Child Life Insurance

Gerber Life also offers life insurance for children. While nobody wants to think about it, accidents and illnesses can strike – and if they do, having the additional funds from a life insurance policy can be beneficial.

The Gerber Grow Up plan is also a whole life insurance policy that will build up cash value over time. Coverage from $5,000 to $50,000 is available, and a parent or guardian can apply for this type of coverage on a child when the child is anywhere between 14 days and 14 years old.

With the Grow Up Plan from Gerber Life, an affordable premium can be locked in for the life of the child – and provided that the premium continues to be paid, the coverage doubles when the child turns age 18, with no increase in the premium cost.

College Savings Plan

The Gerber Life College Plan can help to provide a safe and secure way to help pay for a child’s college education, through guaranteed growth and the additional benefit of the life insurance protection.

Provided that the premium is paid over time, a guaranteed payment of between $10,000 and $150,000 will be received when the policy reaches maturity. And, unlike 529 college savings plans, the money that accumulates in the Gerber Life College Savings plan can be used for any need – regardless of whether it is education-related or not.

How to Get the Best Premium Rates on Medicare Supplement Insurance Coverage

If you are seeking the best premium rates on Medicare Supplement insurance coverage through Gerber Life Insurance Company – or from any insurer – it is recommended that you shop and compare the plans and the rates that are available from several different highly rated life insurance carriers. That way, you will be better able to determine which is the best option for you.

When you are ready to move forward with the comparison of Medicare Supplement coverage and premium rates, we can help. We are an independent insurance brokerage, and we work with many of the top Medicare Supplement insurance providers in the marketplace today.

We can get you all the information that you need quickly and easily – right from your computer – and without you having to meet in person with an insurance agent. If you’re ready to proceed, then just simply take a moment to fill out the quote form on this page.

If you find that you still have any additional questions about Medicare Supplement insurance, we can help. We can be reached directly via phone by calling 800-376-0824. We understand that the purchase of a Medicare Supplement insurance plan can involve many variables – and you want to ensure that you’re choosing the right plan for you. This can be made much easier when you have an expert working on your side. So, contact us today – we’re here to help.

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