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GPM Medicare Supplemental Insurance

GPM Medicare Supplemental Insurance

GPM Life (Government Personnel Mutual Life Insurance) was established in 1934 by Retired Army Colonel Peter Hennessey.  You can get a Medicare Supplement Quote on this page or by calling 920-545-4884.  Continue reading for more information on a GPM Medicare Supplement.

Colonel Hennessey’s mission was to establish a life insurance company that would offer coverage for men and women serving in the military who could not find coverage while they were active service members.  

Regretfully, Colonel Hennessey died unexpectedly in 1938, so his wife Blanche Hennessey was elected President of the company and was the first woman to head a commercial insurance company.

GPM was truly a groundbreaking organization and over the years began offering quality insurance products to Federal employees, individuals, families, and seniors, including the GPM Medicare Supplement.

Impressive Industry Ratings

A.M. Best, the nation’s most notable rating service awarded GPM Life an A- (Excellent) rating as recently as February 2022. This means that A.M. Best believes that the rating service believes that GPM Life has an excellent ability to meet ongoing insurance obligations. Prospective clients are encouraged to review GPM’s State of Financial Condition which is available online each year.

Since GPM Life operates as a mutual company, the profits are distributed back to policyholders in the form of dividends, rather than paid to stockholders. GPM Life is accountable to its customers, and the strength of the financial statement demonstrates the commitment to that cause.

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GPM Medicare Supplement and Financial Products

GPM Life’s product portfolio is considered limited by their competitors, but agents are extremely satisfied with the product selection because it addresses the financial needs of Middle America.

  • Annuities: Annuities are considered one of the best strategies for retirement planning. Properly funded, annuities can provide a steady stream of income for a lifetime. GPM clients say that their annuities are the most important source of their retirement income. GPM offers both single premium and flexible premium annuity products.
  • Life Insurance: GPM currently offers most types of life insurance products which includes final expense life insurance that is commonly used as the foundation for end-of-life planning. GPM clients show their love for their family and loved ones by making certain final expenses like funeral and burial costs will be paid in the event of their death and not passed on to survivors who are mourning the loss of the insured.
  • Medicare Supplement Insurance (Medigap): The GPM Medicare Supplement policy, also known as Medigap, helps fill in the gaps created by the deductibles and coinsurance in Original Medicare. The Medicare Supplement policy helps reduce the out-of-pocket expenses that most seniors on Original Medicare must deal with any time they are hospitalized or visiting with their doctor.

GPM Life Medicare Supplement Insurance in Wisconsin

Residents of Wisconsin have access to Medicare Supplement Insurance plans that are controlled by the state. Each insurer that is authorized to offer Medicare Supplement insurance in Wisconsin must offer the same coverage in their plans. The difference between the various insurance providers is in the cost of the plans and the services provided by each insurer

GPM Medicare Supplement Benefits

All Wisconsin Medicare Supplement Plans must provide the following Basic and Optional benefits.

Basic Benefits

  • Co-payment for 61st to 90th day of hospitalization ($283 a day)
  • Co-payment for 91st to 150th day of hospitalization ($566 a day) – full coverage after Medicare days are exhausted
  • Co-payment for 21st to 100th day of skilled nursing care in a skilled nursing facility ($144.50 a day)
  • 175 days per lifetime of inpatient psychiatric care in addition to Medicare’s 190 days per lifetime
  • First 3 pints of blood
  • 40 home health care visits in addition to Medicare
  • 20% of Medicare’s Part B services with no lifetime maximum or, in case of hospital outpatient department services under a prospective payment system, applicable co-payments
  • Coverage for full usual and customary cost of non-Medicare covered chiropractic care, non-Medicare hospital and ambulatory surgery center charges and anesthetics for dental care and non-Medicare breast reconstruction
  • Coverage for 30 days non-Medicare skilled nursing facility care – no prior hospitalization required but must meet medical necessity requirements

Optional Medicare Supplement Benefits

Insurance companies may offer the following optional benefits as a separate benefit for an additional premium.

  • Part A deductible Rider
  • Home Healthcare Rider:  Additional home health care (up to 365 visits per year)
  • Part B deductible Rider
  • Part B excess Rider: charges up to the actual charge or the limiting charge, whichever is less
  • Foreign Travel Emergency Rider: May have a deductible of up to $250. Must pay at least 80% of billed charges for Medicare-eligible expenses for medically necessary
    emergency care received outside the U.S. Emergency care must begin during the first
    60 days of a trip outside the U.S. Benefit limit must be at least $50,000 per lifetime.

For more information about GPM Life or other Medicare Supplement Insurance providers, please call the LJM Insurance professionals at (920) 545-4884or feel free to contact us through our website online chat at your convenience.