Sarasota is a laid-back city with beautiful beaches, scenic wildlife, and seaside sunsets. It was historically the winter headquarters of the Ringling Brothers Circus! If you plan to retire here — or you’re fortunate enough to live here — you might be wondering: Can you get a good policy for Medicare Supplement in Sarasota? And what might your care look like?

    • There are 15,820 senior citizens living in Sarasota right now
    • There are 8 hospitals in the Sarasota area where seniors can get emergency and/or in-patient care
    • 42% of Florida seniors have a Medicare Advantage plan
    • 19% of seniors have a Medigap / Medicare Supplement plan in Sarasota
    • 39% of seniors have Original Medicare only, leaving them uninsured or underinsured against costly Medicare coverage gaps!

Healthcare Costs in Sarasota, FL

The chart below shows some estimated healthcare costs for seniors on Medicare in Sarasota.

Disease Prevalence in Sarasota Annual Cost of Treatment
Arthritis 25% $280
High Blood Pressure 33% $288
Coronary Heart Disease 7% $7,599
Diabetes 11% $2,158
Kidney Disease 3% $6,469

 

Even with Medicare, some common treatments can get expensive. Medicare Advantage or Medicare Supplement plans in Sarasota can cover these costs for a predictable monthly premium. This makes it much easier to budget for retirement without worrying about rising medical expenses.

Coverage Options Beyond Medicare in Sarasota

If you decide to supplement your Medicare benefits, the two main choices are either Medicare Advantage or Medicare Supplement Insurance. 42% of Sarasota seniors have chosen a Medicare Advantage plan. This is pretty high compared to most other parts of the country.

Medicare Advantage in Sarasota, FL

Medicare Advantage, also known as Medicare Part C, offers more coverage than Original Medicare at affordable prices. The government pays a portion of the premium for you, sometimes getting you your plan for as little as $0 per month. The trade-off is that you have to stay within the Medicare Advantage network and use their approved doctors.

Government law mandates that Medicare Advantage must offer the exact same medical benefits as Medicare Part A and Medicare Part B. Plus, for a small fee, many policies offer more benefits that cover the gaps in Traditional Medicare. For example, medical supplies — which are very important for managing a chronic illness — are easier to get fully or partially covered on a Medicare Advantage plan.

Additional coverage

There’s more you can get out of Medicare Part C.

Vision and Dental

Some of the additional coverage upgrades you can purchase include vision or dental coverage. These coverages become part of your Medicare Advantage plan.

Medicare Advantage and Prescription Drugs

A limitation of Medicare Advantage is that you can’t enroll in Medicare Part D prescription drug coverage. However, many Medicare Advantage plans also come with a prescription drug option. Most Medicare Advantage companies make their prescription drug coverage price-competitive with Medicare Part D

Your Medicare Advantage company will choose which dentists and eye doctors you are allowed to see, and you will likely need to stay within that medical network if you want the most affordable care (or if you want your health insurance provider to pay out claims).

Medicare Supplement in Sarasota, FL

Not everyone has hopped on board the Medicare Advantage train. Some seniors do prefer to get a Medicare Supplement plan in Sarasota. They may like the flexibility of Original Medicare or they may want to choose their own doctors. For these seniors, a Medicare Supplement (a.k.a. Medigap) plan is a better value. It plugs the holes in Traditional Medicare coverage without sacrificing choice or affordability.

The Medigap plan you purchase will depend largely on which gaps in Original Medicare coverage concern you the most. There are 10 available plans for Medicare Supplement in Sarasota, FL.

Emergency Medigap Coverage

Some plans dedicate most of their resources to supplementing your Medicare Part A benefits, which are your hospital costs. These can add up fast, but Medigap Plans A, D, K, or L cover those expenses.

Comprehensive Medigap Coverage

There’s more to healthcare costs than just hospital visits. You might want a more robust Medigap plan if:

  • You require frequent doctor visits
  • You’re big on preventative care
  • You want more help with your co-pays and your coinsurance costs
  • You ALSO want your Part A deductible and hospital costs covered

Medicare Part B covers doctor visits and preventative care. However, there are still gaps in this coverage in the form of out-of-pocket copays and coinsurance costs. Several Medigap plans cover these costs in addition to filling the gaps in Part A. and Medicare Part B. They are Plans B, C, F, G, M, N.

Which Medicare Supplement plan is the best for Seniors in Sarasota?

The plan with the most coverage for the best value is Plan G. It covers everything except the Part B deductible. Plans F covers this deductible, but it’s discontinued for all seniors born after 1955. That change is pushing up the cost of premiums for Plan F way up. Since the Part B deductible is just $203 in 2021, Plan G’s lower premiums more than make up for this gap in coverage.

Additional coverage

Because Medigap insurance policies are leaner than Medicare Advantage policies, you won’t have the option to include prescription drug coverage. To cover your prescription drugs, you’ll need to enroll in the federal Medicare Part D Prescription Drug Program.

Vision and Dental

In order to get dental and vision coverage, you’ll have to enroll separately through a private provider. However, most providers who offer Medicare Supplement in Sarasota will also offer Vision and Dental plans. If you think this means your costs will go up, ask about discounts. Many providers will offer a discount for bundling this coverage with your Medigap plan. Others may offer Senior discounts.

Rates by Plan for Medicare Supplement in Sarasota

Medicare Supplement rates vary from person to person. Insurers use many factors to determine your premium. These include age, ZIP code, smoking status, and other factors. That said, it can still be helpful to know estimated plan prices to give you an idea of how premiums for each plan compare to each other.

Here are the estimated average rates in Sarasota for a 65-year-old female non-smoker in 2021.

Medigap Plan Average Monthly Premium in Sarasota Average Yearly Premium in Sarasota
Plan A $145.00 $1,720.00
Plan B $180.00 $2,150.00
Plan C $220.00 $2,580.00
Plan D $200.00 $2,360.00
Plan F $215.00 $2,520.00
Plan F (high deductible) $72.00 $850.00
Plan G $185.00 $2,190.00
Plan G (high deductible) $65.00 $780.00
Plan K $98.00 $1,170.00
Plan L $150.00 $1,750.00
Plan M $190.00 $2,280.00
Plan N $145.00 $1,700.00

Plan F’s premium is $330.00 more per year than Plan G. Part B’s deductible is only $203.00. So, if you signed up for Plan G and you had to pay the whole Part B deductible, you would still have an extra $127.00 in your pocket at the end of the year.

Which Companies Offer Medicare Supplement in Sarasota, FL?

The government regulates what must be covered by each Medicare Supplement plan. Your coverage will be the same whether you’re in Sarasota, Florida, or Juneau, Alaska! However, Medigap insurance is provided by private companies, not the government. Each insurance company sets its own price for the plan. That’s why it’s a good idea to compare plans and shop around.

Below we’ve provided estimated pricing for several companies that offer Medicare Supplement in Sarasota, FL. Estimates are for a 65-year-old female non-smoker in 2021 on Plan G.

Company Name AM Best Rating Estimated Monthly Rate for Plan G
AARP Medicare Supplement Plans, insured by UnitedHealthcare A $ 169.00
New Era Life Insurance Company B++ $ 170.00
National Guardian Life Insurance Company A- $ 172.00
CIGNA HEALTH AND LIFE INSURANCE COMPANY A $ 172.00
The Capitol Life Insurance Company B++ $ 174.00
Wisconsin Physicians Service Insurance Corporation n/a $ 174.00
Continental Life Insurance Company of Brentwood, Tennessee (Aetna) A $ 174.00
Accendo Insurance Company (a CVS company and Aetna affiliate) A $ 176.00
INDEPENDENCE AMERICAN INSURANCE COMPANY A- $ 177.00
Thrivent Financial for Lutherans A++ $ 177.00
Great Southern Life Insurance Company (Americo) A $ 178.00
UNITED OF OMAHA LIFE INSURANCE COMPANY A+ $ 178.00
Prosperity Life Group A- $ 182.00
UNION SECURITY INSURANCE COMPANY B++ $ 181.00
UNITED AMERICAN INSURANCE COMPANY A $ 185.00
Pan American Life Insurance Company A $ 186.00
Humana Insurance Company A- $ 187.00
National Health Ins Co (National General) A- $ 188.00
Combined Insurance Company of America A+ $ 190.00
Everence Association Inc n/a $ 191.00
Blue Cross and Blue Shield of Florida, Inc A+ $ 191.00
Lumico Life Insurance Company A $ 198.00
USAA LIFE INSURANCE COMPANY A++ $ 207.00
State Farm Mutual Automobile Insurance Company A++ $ 211.00
COLONIAL PENN LIFE INSURANCE COMPANY A- $ 229.00

 

If you’re still confused about which plan is right for you, we understand. And we want to help! We have a Medicare FAQ that answers some common questions. You can also call the number on our site to speak with a licensed insurance agent.

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