Florida Medigap Insurance: How Do These Plans Work?

Florida Medicare Supplements fill in the “gaps” in original Medicare parts A & B. There are a total of 10 different standardized Medigap plans available. Not all companies must offer all plans; however, they cannot offer Medicare Supplement plans that differ from the standardized plan chart. This makes it easy to compare “like” plans. You can view the standardized coverage chart here Medigap coverage chart.

Although there are 10 total different plans offered by the insurance companies, there are definitely some plans that are more common and advantageous than others. Some of those plans are: Medigap Plan F, Plan G, and Plan N. These are the most common plans (and the plans offered by most insurance companies – not all companies offer all plans). With all options, a variety of the “gaps” in Medicare are accounted for, minimizing your out of pocket costs. Or in some cases, eliminating them completely. For example, Medigap Plan F is the most comprehensive option and is often viewed as the most advantageous – it pays both Medicare deductibles (Medicare Part A and Medicare Part B), as well as the 20% that Medicare itself doesn’t cover at the doctor and hospital. However, Plan G, depending on the premium where you live, can sometimes be a better option and a better value.

It does not matter which insurance company sells you the plan you purchase. The plan will work in the same way:

  • First and foremost, there are no networks with Medigap plans. This simply means that, when you sign up for a plan, you will not get a network provider booklet like you may be familiar with on employer-type insurance plans. With Medigap plans, you can go to any doctor/hospital nationwide that takes Medicare. If they take Medicare, they must take the standardized Medigap plans. Also because Medigap plans are nationally standardized, if you are in a different part of the country or if you are traveling, your coverage will be the exact same as it is when you at home.
  • Additionally, you do not have to pay claims yourself. On the contrary, claims are paid through the Medicare “crossover” system. This system ensures timely payment of the claims, no matter which company is insuring you.

Florida Medigap Comparison

There are three significant things that are the same, no matter what insurance company you have. These three things are: doctor acceptance, coverage, and claims payments. Because of that, the two aspects that we advise considering when looking at a Medigap insurance are: price and company reputation. These are the two factors that can be very different from one company to another. Whereas one company might charge $200/month for their top-level Plan (Plan F), it is possible to get the same plan for $140/month from a different company. And, because coverage is the same, the lower-priced company is always advisable – it is as easy as it sounds to make a sound financial decision.

As far as comparing the plans, you can certainly contact all of the companies directly to compare the plans; however, this would obviously be very time-consuming and difficult to do. Additionally, many companies don’t give rates over the phone, only in person through a face-to-face meeting. However, you can easily obtain a chart showing rates from an independent brokerage/agent, typically by email. Doing it this way allows you to compare all of the plans in a centralized, unbiased place. An independent agent, or broker, can also give you information about plan customer service, rate increase history, and other factors that you would not be able to obtain from the companies themselves.

Medicare-Supplement.US can help you compare plans by providing a customized rate quote analysis by email. This allows you to see rates and company ratings in a centralized place and will greatly assist in your understanding of the options. To have a rate quote analysis emailed to you, just request a Florida Medigap quote.

Florida State-Specific Medigap Implications

As we’ve discussed, Medicare Supplement plans are Federally-standardized. That said, the plans in Florida are no different from the plans in any other states, as far as how they work and what they cover. However, there are some state-specific implications/guidelines of the Florida plans that may differ from other states:

  • Florida DOES use tobacco usage as an underwriting criteria when you are turning 65 or in open enrollment or “guaranteed issue” period (many states do not). Otherwise, there are no underwriting limitations, or higher rates, based on any pre-existing conditions or factors like tobacco use, when you are in open enrollment or “guaranteed issue”.
  • Nearly all of the companies that sell Medigap plans in Florida use gender-specific rates. This just means that the female rates are typically 10-15% lower than male rates.
  • Florida Medicare Supplements do not typically offer any sort of household discount (these are offered in many other states).

How to Get a Florida Medigap Plan Quote

Getting a Florida Medigap plan lined up is easy to do. In particular, if you are in a special enrollment period, such as open enrollment (turning 65 or signing up for Medicare Part B) or “guaranteed issue” (losing employer coverage, losing Advantage plan coverage, moving to a new state, etc.), you do not even need to answer medical questions or go through medical underwriting. In this case, you just simply need to complete an application and wait for your insurance cards in the mail.

If you are ready to sign up for a plan, simply compare the options, including rates and company ratings, select a plan and sign up. To get a rate quote comparison from us, which will include the top-priced options for your age and zip code and company ratings, simply request the information online using: Florida Medicare Supplement Quotes. We can provide the information you are seeking so you can compare multiple quotes in a centralized place and make an informed decision.

Florida Medigap: Top-Priced Companies Available Here

NOTE: There are approximately 20+ companies that do Medigap insurance in Florida; however, this list represents the ones that are competitively-priced and highly-rated currently.