Best Medicare Supplement Plans in Florida

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Contributor, Benzinga
February 8, 2022
verified by Jesse Slome

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Quick Look: Best Medicare Supplement Plans in Florida

Figuring out Medicare coverage in Florida and unsure what your options are? Our guide to the best Medicare Supplement Plans in Florida will help you make sure you have full coverage. But, you will pay monthly premiums to improve your coverage.

Despite being a great resource for healthcare for seniors and disabled people, Medicare will not cover every cost associated with your healthcare. Thankfully, a Medicare Supplement plan can help you cover some of the costs that your insurance will not. You can choose from a wide range of Medicare Supplement plan options — Benzinga will introduce you to the best Medicare Supplement plans in Florida as well as some additional information on how these policies work.   

Medicare Supplement Florida Provider Reviews

Not sure which Medicare Supplement Insurance plan is right for you? Consider a few of our favorite providers and comparison sites below. 

1. Best for Medicare Education: Easy Medicare

  • securely through Easy Medicare's website
    securely through Easy Medicare's website
    Best For:
    Getting help picking the right Medicare plan
    Rating:

Easy Medicare is a Medicare comparison site that focuses on helping you find the right plan for you. Simply enter your phone number and an Easy Medicare representative will contact you.

You’ll then get to explore Medicare Supplement, Medicare Advantage, Part D and more plans available where you live. If you’re looking for a more personal touch when choosing your coverage, Easy Medicare is a great place to start.

2. Best for One-Stop Coverage: Humana

If you’re looking for the most comprehensive range of benefits to complement Original Medicare coverage, you may want to add Part D coverage to your Medigap policy.

Humana offers both affordable and inclusive Medicare Part D options throughout Florida as well as Medicare Supplement plan options. If you decide that a Medicare Advantage plan is a better option for you, Humana also offers these benefits in Florida as well. 

3. Best for Personal Assistance: Mutual of Omaha

If you’re still in the beginning stages of researching Medicare options, you might not know which Medigap policy will be the best fit for your needs. Mutual of Omaha offers personalized consulting services to help you choose a policy and compare your options before you sign onto a coverage option.

This service can help simplify the process of comparing the many plan options available to you.  

4. Best for Healthcare Assistance: Cigna

  • securely through Cigna Medicare Supplement's website
    securely through Cigna Medicare Supplement's website
    Best For:
    Easy access to benefits
    Rating:

Cigna policyholders enjoy a range of no-cost benefits along with their Medicare Supplement plan coverage. With Cigna, you’ll have access to a 24/7 health assistance line staffed by health advocates and trained professionals who can assist you in determining when you should seek urgent medical care.

This option can make your plan more affordable by avoiding the need to pay a copayment each time you have a health question. 

5. Best for Straightforward Plan Management: Aetna

Aetna is a Medicare Supplement plan provider that offers straightforward plan management and portal options.

Get signed up for coverage after speaking directly with a representative to speed up the sign-on process. Aetna’s website also includes a comprehensive guide to Medicare that can help you best decide which plan choice fits your unique budget most effectively. 

What is Medicare?

Medicare is a federal health insurance program available to men and women over the age of 65 and younger people who live with certain disabilities to handle qualifying medical expenses. Medicare was put into place to make healthcare costs more affordable for those who are more likely to need regular care when compared to private health insurance plans, especially as health conditions tend to become more severe as the population gets older.

Medicare has 4 parts (A, B, C and D), with each part representing a different type of coverage. Medicare Supplement plans have letter-designated plans ranging from Plan A to Plan L. Remember, health care costs are spread across these plans, depending on what’s appropriate for you. Yes, these plans are often managed by private insurance companies, but they differ based on what you need or what you qualify for, from basic benefits to a drug plan and beyond.

What is a Medicare Supplement Plan?

Medicare Supplement plans are insurance plans that help you cover some of the costs associated with Original Medicare coverage. These policies are often referred to as “Medigap” policies because they help fill in some of the “gaps” in coverage where you might need to pay. For example, a Medigap policy can help you cover healthcare expenses that you incur while traveling outside of the United States as well as your Part A coinsurance.  

Medigap policies are issued by private companies. However, these companies must be authorized by the federal government to issue Medicare Supplement plans, and they must provide you with the standard range of Medigap coverages.

Medicare Plans: What to Know

Unlike Medicare Advantage Plans, Medigap policies do not vary in coverage from company to company in Florida. Medicare Supplement plan coverage options are divided into a series of plans, and insurance companies must offer the set benefits of each plan if they wish to sell Medigap policies. Let’s take a look at what services are available on each plan option that you can currently sign onto.

Plan A

Plan A includes coverage for the following:

  • Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits have been exhausted
  • Part B coinsurance or copayment
  • Your first 3 pints of blood
  • Part A hospice care

Plan B

Plan B includes all the coverages found on Plan A plus coverage for your Part A deductible.

Plan D

Plan D includes all the coverages found on Plan B plus coverage for skilled nursing facility care and 80% coverage for emergency travel healthcare needs. Prescription drug coverage can also be tied into other policies.

Plan G

Plan G includes all the coverages found on Plan D plus coverage for Part B excess charges.

Plan K

Plan K includes coverage for the following:

  • Coverage for Original Medicare Part A coinsurance and hospital expenses
  • 50% coverage for Original Medicare Part B copays and coinsurance
  • 50% coverage for blood (1st 3 pints)
  • 50% coverage for Part A hospice care
  • 50% coverage for skilled nursing facility care
  • 50% coverage for Part A deductible

Plan K also comes with an out-of-pocket maximum of $6,940 for 2023.

Plan L

Plan L includes coverage for the following:

  • Coverage for Original Medicare Part A coinsurance and hospital expenses
  • 75% coverage for Original Medicare Part B copays and coinsurance
  • 75% coverage for blood (1st 3 pints)
  • 75% coverage for Part A hospice care
  • 75% coverage for skilled nursing facility care
  • 75% coverage for Part A deductible

Plan L also comes with an out-of-pocket maximum of $3,470 for 2023.

If you enrolled in Medicare before January 1, 2020, you may be able to purchase 2 additional plans that cover your Part B deductible. These options are titled Plan C and Plan F. However, it is now against the law for Medigap companies to provide these options to men and women who enrolled in Medicare after January 1, 2020.

Who Qualifies for Medicare Supplement Insurance?

You may only purchase a Medicare Supplement plan if you have Original Medicare. This means that you must be enrolled in Part A and Part B coverage before you can enroll in a Medigap policy. It is against the law for insurance companies to sell you a Medigap policy if you have a Medicare Advantage plan unless you are in the process of switching back to Original Medicare. 

Medigap Eligibility

A Medicare Supplemental Insurance plan is an add-on insurance that helps fill in some of the gaps left by Original Medicare. To qualify for a Medigap plan, you must already be enrolled in Medicare Parts A and B. To qualify for Medicare, you must meet at least 1 of the following criteria:

  • You are over the age of 65.
  • You are under the age of 65 but you’re living with a disability and have been approved for Medicare coverage.
  • You are living with end-stage renal disease (permanent kidney failure requiring dialysis or transplant).

In most instances, you’ll be automatically enrolled in Medicare Part A and B after turning 65.

When you begin using your Medicare benefits, you’ll notice that your health insurance is not free. The most expensive thing that you’ll need to pay for will be your coinsurance percentage. 

  • When you receive a medical treatment, your healthcare provider will bill Medicare for the healthcare services that you receive. 
  • Medicare then pays its share minus any deductibles and coinsurance that you would typically be responsible for. 
  • From here, Medicare sends the remaining bill to your Medicare Supplemental Insurance provider, which will then pay off a portion of what you would typically owe. This is where the name “Medigap” comes from — the plan closes the “gaps” of payment that you still need to pay out-of-pocket even with Medicare Parts A and B.

Compare Medicare Supplement Plans in Florida

Medicare Supplement plans are standardized, which means that every insurance provider offers the same benefits assigned to each plan. This fact means that you’ll want to compare policy providers using the following factors.

  • Cost
  • Customer service reputation
  • Additional perks (for example, access to an online portal you can use to manage your account or a 24/7 help line)

How to Sign Up for Medicare Supplement Plans in Florida

When you’re ready to sign up for a Medigap policy, take the following steps.

  • Compare Medigap policy inclusions: Every company that offers Medigap plans must offer the set benefits that each plan includes. However, not every company that offers Medicare Supplement plans must offer every plan available.

Start your search for the right coverage by taking a look at your Medicare plan and what’s covered on each Medigap option. After you know which plan you want, you can start comparing insurance providers that offer that plan.

  • Compare providers: After you know which plan you want, visit Medicare.gov’s Medigap search tool to find insurance providers in your area offering the plan you’ve chosen and compare rates.
  • Sign onto your Medigap plan: Once you find an insurance provider offering the coverage you need at a price that you can afford, apply for your policy online.

Be sure that you read the terms of your policy before you sign onto coverage so you know what exactly your Medigap policy will pay for. 

Medigap Open Enrollment

The best time to enroll in a Medicare Supplement plan is during your Medigap Open Enrollment Period. Your Medigap Open Enrollment Period is not the same as the general Medicare Open Enrollment.

Your Medigap Open Enrollment Period begins the 1st month that you have Medicare Part B insurance and you’re 65 years of age or older and lasts for 6 months. You cannot change or repeat your Open Enrollment period, so it’s a good idea to start researching policy options before you turn 65.

During your Medigap Open Enrollment period, you are able to purchase any Medicare Supplement plan offered in your state, regardless of current health issues. This period is also when you’ll get the best rates on your Medigap policy. If you miss your Open Enrollment period and try to apply for a Medigap policy later on, you may be denied coverage by your insurance providers due to health issues.  

Medicare Supplement Plans Comparison Chart for 2023

With so many plan options, which Medicare Supplemental Insurance choice is right for you? The Medicare Supplement plans comparison chart for Florida in 2023 below will help you compare what’s included on each plan. Percentages indicate the percentage of each cost that is covered by each plan type. Plans C and F are excluded from the chat as they are no longer available as of January 1, 2020.

BenefitsABDGKLMN
Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up100%100%100%100%100%100%100%100%
Part B coinsurance and copayment100%100%100%100%100%100%100%50%
First 3 pints of blood100%100%100%100%100%100%100%50%
Part A hospice care coinsurance or copayment100%100%100%100%100%100%100%50%
Skilled nursing facility care coinsurance0%0%100%100%100%100%100%50%
Part A deductible0%100%100%100%50%100%100%50%
Foreign travel emergency (up to plan limits)0%0%80%80%0%0%80%80%
Out-of-pocket limit in 2020N/AN/AN/AN/A$6,940$3,740N/AN/A

These plans are standardized across all companies offering them. This means that you should shop for your Medigap plan based on price and availability. 

Cost of Medicare Supplement Plans in Florida

Medicare Supplement plans are sold by private companies, which means that each individual provider gets to set costs for each plan option. If you enroll in a Medigap policy outside of your Open Enrollment period, the following factors may influence what you’ll pay for coverage.

  • Age
  • Gender
  • Marital status
  • Results of your health questionnaire
  • Pre-existing conditions
  • Whether or not you smoke
  • Where you live
  • The plan type you choose

If you enroll during Open Enrollment, your insurance provider must offer you the most beneficial rate currently available for each plan type. You cannot be denied coverage during Open Enrollment. 

Find the Right Medigap Policy for You

Remember that your Medicare Supplemental Insurance Open Enrollment period begins the month that you turn 65. From then, you only have 6 months to lock into your rate and guarantee acceptance. If you’re coming up on your 65th birthday, start comparing plans now to make the process easier and less stressful. There are instances, however, where you may choose to retain your regular health insurance and use Medicare at the same time. Keep in mind that penalties that may apply.

Frequently Asked Questions

Q

What companies have the best Medicare Supplement plans in Florida?

A

Benzinga recommends Florida Blue and Easy Medicare.

Q

When should I purchase Medicare Supplement Insurance?

A

You should purchase a Medicare Supplement plan during your Initial Enrollment Period. This period begins the 1st day of the month when you turn 65 years old. 

 

Q

How much does Medicare Supplement Insurance cost?

A

Premiums for Medicare Supplement policies typically range from $70 a month to $270 a month.

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