Medicare Supplemental Options in Florida

In Florida, like in most other states, there are many different Medicare supplemental insurance companies and plans. However, you can boil most of these down to two forms of coverage that supplement your Medicare benefits: Florida Medicare Advantage Part C plans and Florida Medigap plans.

You are not required to buy additional coverage for Medicare. However, most people cannot afford the Medicare deductibles and copays without some form of insurance to help them pay for these items.  Fortunately, there are some great plan options in Florida at affordable prices.

Medigap Plans in Florida

The most robust coverage you can buy is Medigap coverage. There are ten different plans to choose from, and each of them fills in different gaps in Medicare. With a Medigap plan, you can see any provider in the nation that accepts Medicare. Your doctor will invoice Medicare, and Medicare will review the claim. If approved, Medicare pays its share and then notifies your Medigap company about the remainder so your policy can pay any benefits that are due.

Medigap Plan F has been a number one seller for decades. It pays all the deductibles, copays and coinsurance for you. For this reason, it’s often called first dollar coverage.

In recent years, Plan G has become more popular as well. Plan F is being phased out in 2020, and although policyholders will be grandfathered, some worry that Plan F rates will go up after this. So the next most comprehensive plan is Plan G. It covers all the same things as Plan F except for the Part B deductible. Often the premiums are significantly lower than Plan F, making Plan G a good buy.

Some people also prefer plans where they do more cost-sharing for lower premiums. Some good options for this are Plan N, Plan K and the high deductible version of Plan F.

Keep in mind that Medigap plans do not include retail drug coverage. However, you can buy a Part D prescription plan to go alongside your Medigap plan. It will help to reduce your costs at the pharmacy.

If Medigap plans are out of your budget, you should look at Florida Medicare Advantage plans. There are some excellent plan designs for these Part C plans in Florida.

Medicare Advantage Plans in Florida

Also called Part C of Medicare, Medicare Advantage plans in Florida are a form of private insurance. When you enroll in one, it will pay your bills instead of Medicare. The insurance companies who operate these plans are paid by Medicare to take on your medical risk.

Most plans in Florida have networks that coordinate your care among contracted providers. HMO plans are typically the cheapest because their networks are the most restrictive. PPO plans have more flexibility and allow for out of network treatment at higher costs.

To be eligible for coverage, you must live in the plan’s service area. You must also first enroll in Medicare Parts A and B. There is only one health question about End Stage Renal Disease. You can join a plan when you are first eligible for Medicare or during the Annual Enrollment Period that comes around every fall.

Once enrolled, you can only leave the plan during designated enrollment periods as well. Otherwise, you are generally locked into your Medicare Advantage plan through December 31^st.

People find Medicare Advantage plans attractive for several reasons. Besides the premiums which are much lower than Medigap plans, many Part C plans also include drug coverage under Part D. Many plans also offer ancillary benefits that you won’t find under Original Medicare, such as routine dental benefits or gym memberships.

Before you enroll, check with your important doctors to make sure they are in the plan’s network. 

Otherwise, you may have to change providers. You can have an agent go over the plan’s summary or Evidence of Coverage with you to make sure the plan is a good fit before you sign the dotted line.  

Get Help Today with Medicare

While choosing a Medicare plan can be confusing for you, the agents at Boomer Benefits work with these plans every day. We’ve helped tens of thousands of people learn how their Medicare benefits work and find a suitable supplemental or Advantage plan in Florida. Give us a call today for free assistance in selecting the right plan for you.