If you're a resident of Florida currently enrolled in Original Medicare, you have the option to bolster your Part A and Part B coverage with Medicare Supplement Insurance (Medigap plans). In Florida, there are ten distinct plan options, each designed to cover various out-of-pocket expenses.
In this article, we delve into the top Florida Medigap plans and insurance companies for plan year 2024.
Table of Contents
What You Need to Know
- Florida Medigap plans are offered by private insurance companies, not the government.
- There are 10 different plan options available, labeled A through N, each providing a different level of Medicare coverage.
- Florida residents become eligible for Medigap coverage at age 65.
- All plans offer coverage for Medicare Part A coinsurance and hospital costs, Medicare Part B copayments or coinsurance, and the first three pints of blood.
- Most plans also cover the Medicare Part A deductible and Skilled Nursing Facility coinsurance.
- It's important to note that Medigap does not cover long-term care, vision, dental, hearing aids, or private-duty nursing.
- The average costs for a 65-year-old can vary significantly based on factors such as gender, tobacco use, your location in Florida, and the level of coverage you select.
- Medigap policies are not classified as health insurance; they fall under indemnity insurance and operate under their own set of rules.
The 5 Best Florida Medigap Plans
There are ten different Medicare Supplement Plans. These plans are labeled A through N and are standardized by the federal Medicare program.
The top-rated plans in Florida for 2024 include Medicare Supplement Plan F, Plan C, Plan D, Plan G, and Plan N. They are considered the best because they provide the most extensive coverage.
Which one of these plans is the best choice for you?
HELPFUL READING: Medicare Plan G vs Plan N: Which is Better?
An easy way to quickly understand the ten plans is to refer to a Medigap plan chart. This chart illustrates how each policy helps cover the Medicare Part A and Medicare Part B out-of-pocket costs (deductibles, coinsurance, and copayments) for Florida residents.
Understanding Your Medigap Plan Options in Florida
Individuals covered by Medicare have unique requirements. Your age, gender, Florida zip code, utilization of medical services, choice of healthcare providers, emergency care needs, as well as your requirements for supplies and durable medical equipment all contribute to the factors you should take into account.
These elements are essential as they significantly impact your available plan choices. It's crucial to thoroughly evaluate your outpatient and inpatient care needs as part of this consideration.
When Best = Most Comprehensive Coverage in Florida
Most insurance experts agree that Plan G is the best option in Florida if you are signing up for Medicare with one or more chronic health issues. It offers the most coverage you can buy if you qualify for Medicare on or after January 1, 2020.
NOTE: Plan F offers more coverage than Medicare Supplement Plan G, but it costs significantly more, and it is only available if you qualify for Medicare before 2020.
- Get Plan F and Plan G Quotes in Your Zip Code
- See All Companies Offering Plan F in Florida
- See All Companies Offering Plan G in Florida
When Best = Excellent Protection & Cost-Effective Premiums
If you are enrolling in Medicare and find yourself in excellent health or require solid coverage but have budget constraints that prevent you from considering Plan G, Medicare Supplement Plan N presents a viable alternative. Plan N provides comprehensive coverage throughout Florida for inpatient hospital stays and most medical expenses.
Plan N is particularly suitable for individuals in good health because it involves cost-sharing. In return for lower monthly premiums, participants in this plan contribute a nominal copayment. For doctor office visits there's a $20 copay. If you use the emergency room you'll pay up to $50.
When Best = Cheapest Plan Available in Florida
Many Florida beneficiaries don't require comprehensive coverage or simply can't manage it in their budget. If you're concerned about the monthly premium burden, consult with your insurance agent regarding Medicare Supplement Plan K and the High Deductible Plan G (HDG).
These two plan options represent the most economical choices available. Many well-informed Florida seniors prefer these plans over a Medicare Advantage plan.
Are Plan A, B, C, D, L and M Available in Florida?
Medicare Supplement Plan A is the most basic plan sold in Florida. Even so, in many areas, it costs more than Plan N. Why would you pay more to get less?
Medicare Supplement Plan C and Plan D offer coverage similar to Plan G but also cost more. Plus, like Plan F, Plan C is only available to Florida beneficiaries who enrolled in Medicare before 2020.
Only a few Florida insurance companies offer Plan L or Plan M.
What Makes One Insurance Company Better than Another?
Every Medigap insurance carrier operating in Florida must adhere to federal and state insurance regulations. They can't deviate from the standardized plans designated by letters A through N.
To give an example, a Plan F policy from Aetna Medicare provides identical coverage and benefits (same out-of-pocket costs covered) as a Plan F policy from Mutual of Omaha, United Healthcare, Humana, Cigna, or Blue Cross Blue Shield. This standardization simplifies the process of comparing Medigap plans.
The most important difference is the strength and quality of insurance company standing behind the plan and how they rate their plan for premium increases. It's crucial to research a company's Medicare Supplement rate increase history before making a final decision.
Florida state laws may impose enrollment and rating limitations on carrier. For detailed information, refer to the Florida Department of Insurance website at http://www.myfloridacfo.com/.
Medicare Supplement Plan F Companies in Florida
Medicare Supplement Plan F (Medigap Plan F) is Florida’s most popular Medigap plan. Here are the 10 best companies that offer Plan F policies in Florida based on our reviews (click for details):
Required Benefits of Plan F in Florida
Medigap Plan F is standardized like all Medicare Supplement Plans in Florida. Insurance carriers are required to cover certain benefits. Plan F is the most comprehensive plan because it covers all gaps in Original Medicare.
Although Original Medicare does not cover foreign travel medical emergencies, Plan F does (up to 89%). In addition to this extra benefit, companies may offer limited additional features. One example is Physician Mutual’s Preventive Care and Hearing Loss Testing benefits.
Medicare Supplement Plan G Companies in Florida
Medicare Supplement Plan G (Medigap Plan G) is rapidly gaining popularity with Florida seniors. With Plan F no longer available to new Medicare beneficiaries, Plan G is the new gold standard. Here are the 10 best insurance companies that offer Medigap Plan G policies in Florida based on our reviews (click for details):
Required Benefits of Plan G in Florida
All Medigap plans in Florida, including Medigap Plan G, are standardized. Insurance companies must provide the standard coverage. Plan G covers all gaps in Original Medicare except the Part B deductible. And it only covers 80% of foreign travel medical emergencies that fall within your policy’s limits.
Companies may offer additional features like UnitedHealthcare’s fitness program, Renew Active, or the Silver Sneakers fitness program.
Medicare Supplement Plan N Companies in Florida
Medicare Supplement Plan N is similar to Plan D (not to be confused with Medicare Part D) but covers Medicare Part B coinsurance costs differently. Due to its lower cost and good coverage, it's catching the attention of many Arizona seniors. Here are the 10 best insurance companies that offer Medigap Plan N policies in Florida based on our reviews (click for details):
Required Benefits of Plan N in Florida
All Medicare Supplement Plans in Florida are standardized, including Medigap Plan N. Like Plan G, Plan N does not cover the Part B deductible. It also does not cover Part B excess charges. But it does cover 80% of foreign travel medical emergencies up to the policy’s limits.
Medicare limits the types of extra benefits companies can offer. One excellent additional benefit is UnitedHealthcare’s NurseLine, which lets you talk to an experienced nurse, day or night.
Medicare Eligibility for Medicare Supplement Plans
You can apply for Medigap coverage in Florida during your Medigap Open Enrollment Period (OEP). Your OEP is a six-month period that begins when you enroll in Medicare Part B. Your Medicare eligibility date will determine which plan types are available to you.
Federal law grants you guaranteed issue rights during your Medigap Open Enrollment Period. You can get a Medicare Supplement Plan during this period, regardless of your health history and chronic health conditions. You cannot be turned down, and you can go with the company of your choice, so long as they sell policies in Florida.
Florida Medigap plan enrollees require the assistance of a licensed insurance agent. If you don't have an insurance agent, we recommend HealthCompare, an Allstate company. Call them at 1-855-728-0510 (TTY 711). They work with all of the top Florida insurance companies. There's no obligation.
Is a Medicare Supplement Right for You?
Why You Should Consider a Medicare Supplement Insurance Plan:
- You expect the need for frequent healthcare services now and/or in the future and want to limit your deductibles and co-pays.
- You can afford the monthly premiums of Medicare Supplement Insurance and don't qualify for Medicaid.
- You want the freedom to choose your doctors and other Medicare providers without network restrictions.
- You need nationwide coverage and/or travel abroad.
- You are in your Initial Enrollment Period and have guaranteed issue rights to join a Medigap plan regardless of your health condition.
- You don’t want a Medicare Advantage plan and the hassle of referrals and pre-authorization to receive healthcare services.
Explore Alternatives to a Medicare Supplement When:
- You don’t expect the need for frequent healthcare now or in the future.
- You missed your Medigap open enrollment period and cannot pass medical underwriting to get the Medigap policy you want.
- You want a Medicare Advantage plan with low or no monthly premiums.
- You have Medicaid, TRICARE, VA, retiree benefits, or other coverage options that will pay for most of your Medicare out-of-pocket expenses.
- You prefer an HMO or PPO plan with a Part D prescription drug plan, Silver Sneakers, and routine dental, vision, and hearing care.
- You can adhere to the rules and restrictions of a Medicare Advantage plan.
Alternatives to Florida Medicare Supplement Plans
If you have decided that a Florida Medicare Supplement Plan is not right for you, or that none of the 10 plan types works with your budget, there are several options:
- Stick with Original Medicare, add a Medicare Part D plan for prescription drug coverage, and pay all Part A and Part B deductibles, coinsurance, and copays costs out-of-pocket. NOTE: This is very risky, no matter how healthy you are.
- If you qualify for both Medicare and Medicaid, or have a serious health condition, enroll in a Medicare Advantage Special Needs Plan.
- If you have VA health benefits, get all of your healthcare from your nearest VA hospital. When you do, the VA will bill Medicare and pay the remainder.
- Enroll in a Medicare Advantage Plan with a low maximum out-of-pocket (MOOP) limit and reasonable copayments.
It's important to carefully weigh your options and consider your unique healthcare needs when deciding on the right path for your Medicare coverage. Each choice comes with its own advantages and considerations. If you require further guidance or have questions about the options available to you in Florida, don't hesitate to reach out to our preferred agency, HealthCompare, at 1-855-728-0510 (TTY 711).
The next step is to get a FREE Medigap Rate Comparison Report. It will arm you with all of the information you need to make an informed decision.
MedicareWire is a Medicare consulting agency. We are not insurance agents. Our job is to help people navigate Medicare without marketing interference.
Our free report will show you rates from all carriers without a sales pitch. No Calls. No Email Spam. No Kidding!
If you would prefer to speak with an agent, our preferred, nationwide agency is HealthCompare, an Allstate company. Give them a call at 1-855-728-0510 (TTY 711).
Citations & References
- Costs of Medigap policies, Medicare.gov, Last Accessed October 4, 2023
- What's Medicare Supplement Insurance (Medigap)?, Medicare.gov, Last Accessed October 4, 2023
- Find a Medigap policy that works for you, Medicare.gov, Last Accessed October 4, 2023
- How to compare Medigap policies, Medicare.gov, Last Accessed October 4, 2023
- How Original Medicare works, Medicare.gov, Last Accessed October 4, 2023
- Your Medicare coverage choices, Medicare.gov, Last Accessed October 4, 2023