Introduction to Medicare Supplement in Florida (Medigap)

The federal Medicare program is a type of health insurance which provides for most of the hospital- and doctor-related healthcare costs of older persons. Sadly, you will find coverage gaps which Medicare does not cover, and these gaps in coverage can become very costly very quickly should you be dependent upon Medicare only to cover your needs. Fortunately, there’s a kind of supplemental insurance referred to as “Medigap” which supplies a cost-effective choice for seniors who would like to safeguard their finances from these gaps.

Federal Regulations for Medicare Supplements

The Centers for Medicare and Medicaid Services (CMS) are tasked with regulating the Medicare supplement plans that insurance companies may offer. Right this moment, there are ten plans: A, B, C, D, F, G, K, L, M, and N. CMS rules guarantees that Plan F in Montana will give you the identical coverage as Plan F in Florida. Therefore the only variables which vary from location to location are price, and the insurance firm offering the policy.

Medigap Enrollment In Florida

Because Medigap Plan F is the most comprehensive of all the Medicare supplement plans, it is no surprise to see that it is the most popular plan in Florida. Plans B and C are close runners up, however.

Plan Type A B C D E F G H I J K L M N
Enrollment 12,903 50,807 90,641 69,245 16,627 248,630 13,521 1,417 8,132 90,487 3,671 3,981 78 21,116

Plan Coverage & Cost

Numerous factors determine how much your insurance company might charge you for your Medigap policy. For instance, a 65 year-old, female non-smoker in Chicago will pay a significantly different premium from a 78 year-old man in Florida who frequently uses tobacco products. Have a look at the chart below for estimated rates on popular plans locally:

Most Popular Medicare Supplement Plans in Florida

Florida retirees are falling in line with many other states when it comes to Medigap insurance, preferring Plan F above all other available policies. Medicare supplement Plan F covers all of the known gaps in Medicare coverage, so it tends to be the most popular plan.

The next most popular Medicare supplement plan which Florida residents prefer is plan J. Unfortunately, if you are not yet enrolled in Medicare, then plan J will not be available to you once you are successfully enrolled. Plan J (along with plans E, H, and I) was eliminated as an option in 2010 when federal legislation reformed the program. These four plans were rendered obsolete when Medicare Part D prescription drug coverage became available.

Helpful Medigap Tips & Tricks

Doctor/Provider Network Restrictions

Medigap policies are one of the most flexible options when it comes to supplementing Medicare. Other types of coverage (Like Medicare Advantage) usually come with restricted provider networks, which means you can’t simply choose what doctors you want to see – your plan does that for you. However, this can be difficult and expensive if you live far away from a major city, travel often, or own a summer home in another state. But with Medigap, you won’t have to worry about such restrictions. You can see any doctor or visit any care center which also accepts Medicare.

Doctors List

Drug, Vision and Dental Coverage

In the year 2010, the government approved legislation which altered the way in which Medicare supplement insurance handled prescription drug coverage. Since Medicare Part D is available, All Medicare supplement plans which offered prescription drug coverage are being phased out. Vision and dental benefits are a different issue entirely. They’ve never been covered by either Medicare or Medigap, and must be bought separately from a private company in case you have the need for those services.

Enrollment Options & Best Time To Enroll

The Medicare supplemental insurance enrollment process can vary based on how old you are, your Medicare enrollment status, and the company issuing your Medicare supplemental insurance policy. A few providers will automatically accept you, with no hassle, if you’re recently enrolled in Medicare Parts A & B. But if you delay your enrollment, or in case you have other health problems, the process might be a much more involved.

  • Initial Enrollment Period: Once you register for Original Medicare, you have 6 months to likewise become a member of a Medigap policy so that you can meet the requirements for the initial enrollment period. Signing up during the IEP assures automatic approval and coverage.
  • Guaranteed Issue: Should you be dropping your employer or group plan, Guarantee Issue enrollment will get you covered by a Medicare supplement policy irrespective of your health status.
  • Annual Enrollment Period (AEP): Medicare supplement enrollment isn’t constrained by Annual Enrollment Periods the way other insurance plans are, so go ahead and enroll whenever you want.
  • Underwritten: If you miss the IEP and don’t qualify for Guarantee Issue, you might have to go through the underwriting process. This generally requires questions regarding your overall health, and maybe a medical exam in order to evaluate whether your insurer can cover you.

Free Look Period

In order to make the buying experience easy and hassle-free, all senior citizens have 30 days after buying a new Medicare supplement policy to determine if they wish to keep it. In case you decide within those 30 days that you’re not satisfied with your plan, you may terminate your plan for a full refund.

What Medigap Plan Is Best For Me?

Compare Medigap Plans Online