Federal Life to Issue a High-Deductible Medigap Policy
The carrier will also introduce Plan A, Plan F and Plan G options.
Federal Life Group Inc. will be working with Senior Market Sales Inc. to introduce a high-deductible version of a Medicare supplement (Medigap) insurance Plan G policy.
Federal Life and Senior Market Sales will also team up to offer Medigap Plan A, Plan F and Plan N coverage, Federal Life said last week.
(Related: National Guardian Life Hires CFO for New Dental and Vision Business: Personnel Matters)
The companies hope to begin offering the new Medigap policies in at least some states by June 8, Federal Life said.
Federal Life is a Riverwoods, Illinois-based carrier that recently went through a financial reboot with help from Insurance Capital Group LLC of New York.
Senior Market Sales Inc. is an Omaha, Nebraska-based senior market products distributor. It has relationships with about 60,000 insurance and financial professionals.
Dwane McFerrin, a vice president at Senior Market Sales, said in a comment included in the relationship announcement that a high-deductible Plan G policy could be good for a client who’s carrying a health savings account into retirement, or who wants a low premium without restrictions on access to health care providers.
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