by Russell Noga | Updated June 21st, 2023
Have you enrolled in Original Medicare Parts A & B? It’s comforting to know that you have financial support for your healthcare expenses as you age.
However, these policies only cover 80% of costs, leaving you to pay the balance out-of-pocket. A Medicare supplement plan (Medigap) can help you partially or fully cover the remainder.
Medigap policies are available from private healthcare insurers, such as:
And many more.
Each plan provides a different level of coverage. The best time to enroll in a Medigap plan is during Open Enrollment which lasts six months from your 65th birthday. During this time, you get automatic acceptance into a plan, even if you have pre-existing medical conditions.
This post looks at Forethought Medicare supplement plans. We’ll examine the range of Medigap policies, premiums, benefits, perks, and more.
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Forethought Medicare Supplement Plans at a Glance
- Forethought offers five Medigap plans.
- The company has excellent ratings with leading financial ratings companies.
- Forethought doesn’t provide additional benefits and perks for vision, hearing, or dental services.
Who Is Forethought?
Forethought has headquarters in Indianapolis, Indiana. The company is a Global Atlantic Financial Group Limited subsidiary, serving communities with healthcare insurance plans since 1985. The Global Atlantic Group acquired Forethought in 2013.
What Medicare Supplement Plans Does Forethought Offer?
Forethought offers Medigap Plans A, C, F, G, and N. The company sticks to the most popular plans and complies with CMS guidelines stipulating that all Medigap providers must offer Plan A.
Plan A – This policy has basic benefits for Medicare Parts A & B. You have no coverage for the Medicare Part A deductible, and the only Medicare Part B benefit offered is coverage for coinsurance and copayments.
Plan C – This policy offers near-comprehensive coverage. It includes benefits for the Medicare Part B deductible but doesn’t cover Medicare Part B excess charges. Both Plans C & F are discontinued, and new Medicare members should consider Plan G for their policy instead.
Plan F – This policy offers “first dollar coverage” for beneficiaries. You have coverage for the Medicare Part B deductible, and the only financial responsibility is your monthly premium.
Plan G – Plan G is replacing Plan F as the most popular Medigap policy for new Medicare beneficiaries. The only benefit not offered is coverage for the Medicare Part B deductible.
Plan N – Plan N offers good coverage for healthy seniors. It doesn’t cover Medicare Excess charges or the Part B deductible. You have copayment responsibilities of $20 when visiting the doctor and $50 at the emergency room if the doctor doesn’t admit you to the hospital for inpatient care.
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Forethought Medicare Supplement Plans – Benefits & Coverage
While Original Medicare Part A & B are government initiatives, private healthcare companies sell Medigap policies. The CMS, a federal agency, regulates the industry, standardizing the benefits of each plan. As a result, you have a consistent level of benefits offered in the plan you choose, regardless of the provider you use.
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 F*, G, and N offer additional Medicare Parts A & B benefits.
- Part A deductible.
- Part B excess charges (Plan N doesn’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.
*Plan F covers the Medicare Part B deductible, as does Plan C. However, these policies are phasing out due to this benefit. If you were eligible for Medicare before January 1, 2020, you can still apply for a Plan C or F policy. However, you may have to undergo a medical underwriting.
Medical underwriting accounts for any pre-existing conditions you have, and Forethought may increase your premiums above the market average rate. You may be eligible for a guaranteed issue right that circumvents the need for medical underwriting. Call our team, and we’ll see if you qualify.
What Forethought Medicare Supplement Plans Don't Cover
No Medigap plan covers medical expenses that don’t qualify under Original Medicare Parts A & B. So, you don’t have coverage for costs involving treatments at the chiropractor, physio, podiatrist, and acupuncturist.
Medigap plans don’t cover prescriptions, private-duty nursing, or stays at unskilled nursing facilities. Medigap won’t cover the cost of vision, hearing, dental services, or OTC medications or supplements.
Forethought Medicare Supplement Plans – Premiums
The cost of Medigap premiums varies, depending on your risk profile. When you request a quote from a provider, they look at your age, location, gender, and smoking status to set your premium rate. Our research shows Forethought Medigap premiums average the following rates for a 65-year-old female nonsmoker.
*Your premiums may vary depending on your risk profile.
Forethought Medicare Supplement Plans – Additional Benefits & Discounts
Forethought doesn’t offer members any additional perks or benefits with its plans. They have good rates on premiums, but they aren’t the cost leader on any plan in any market.
Forethought Medicare Supplement Plans – Third-Party Ratings & Reviews
Forethought has an A rating from AM Best for its finical strength. The company has an A rating from S&P, an A- rating from Fitch, and an A3 rating from Moody’s.
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Frequently Asked Questions
What are Forethought Medicare Supplement Plans?
Call Us for More Information on Forethought Medicare Supplement Plans
For more information on Forethought Medigap plans, reach out to our team at 1-888-891-0229. Our team can assist you with a free consultation to choose the right plan for your healthcare needs. We’ll give you a free quote with the best rates on premiums in your state.
If you can’t call us right now, leave your details on our contact form on this site, and we’ll get a Medigap professional to call you. Or you can use the tool on this site to get a free automated quote on any Medigap plan.
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.