Florida Medicare Supplement Plans

If you live in Florida and have basic Medicare health coverage, you may find that you have to pay more for your health care costs than you can afford. Because there are certain health needs that Medicare does not cover, private insurance companies are able to offer two different customized options that Medicare users can purchase to help lower the cost of health care. Medigap insurance pays some additional costs, such as co-pays and deductibles, and may also cover services not covered or fully covered by Medicare. Medicare Advantage are totally custom and cover as much or as little of your costs as you choose. You must have Medicare in order to qualify for Medigap.

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Eligibility for Medigap is the same as eligibility for Medicare. You must be enrolled in both Medicare Part A and B to qualify for Medigap. You can view a list of approved providers and compare rates immediately by filling out the zip code form. All Medigap providers offer the same plans (titled Plans A – N) but there may be differences in cost and customer service so it’s best to shop around.

Prescription Coverage

Not all Medigap plans offer prescription drug coverage. However, you can opt to include the Medicare Prescription Drug Plan (Part D) as an additional plan and at an extra cost. This does not require you to change, modify, or switch plans in any way.

Medicare Advantage

One option to save money is to select a Medicare Select Policy instead of Medigap. The premiums for Medicare Select are often lower than Medigap options. However, it’s important to remember that this requires you to only see doctors and specialists within a specific network and/or facility. Medicare will still pay the usual amount if you see a doctor outside the network, but the “select” portion of your plan will deny or lower the additional payments.

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Other Avenues for Saving

Purchasing Medigap coverage is not financially feasible for some Floridians. There are options for low-income seniors. Consider:

  • Qualified Medicare Beneficiary: a program available to residents whose income is below the national poverty level. If you qualify for Medicare Part A, this program pays deductibles, co-pays, and premiums. Seeing a doctor costs about $2 – $3 per visit with this plan.
  • Specified Low Income Medicare Beneficiary: a program for residents with incomes a little above the national poverty level. This program pays for Medicare Part B premiums. Fill out the zip code form to speak with an insurance provider who can help you learn more about these different payment options.

Cost Breakdown

The costs you pay for Medicare and Medigap depend on numerous factors including your income and assets. However, there are typical prices:

  • Medicare Part A: This coverage is free if you have contributed to Medicare taxes. If you have not contributed to these taxes for at least 10 years, your monthly premium may be up to $465.
  • Medicare Part B: This monthly premium is often taken directly out of social security checks and is around $100. The premium is more if your prior income was higher.
  • Medigap: These monthly premiums vary drastically depending on you, your history, and the insurance carrier you select. Getting as many quotes as possible is your best bet. To get an instant quote and compare rates, fill out the zip code form.

What it Covers

Medicare Part A covers hospital stays, hospice care, care in an approved facility, and some in-home care. Part B covers certain doctor’s services, outpatient care, medical supplies, and preventative services.

How is Florida Different?

Florida has more Medicare participants than any other state. Florida and California also offer the most Medicare plans at 35 total options. This state gives residents more Medicare reimbursements than the national average. Fill out the zip code form to speak with an insurance provider who can give you more information about specific plans that will work best for you.

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