Florida Medicare Supplement Plans, also known as Medigap insurance, helps pay for health care expenses that are not covered by Original Medicare. Some of these expenses include deductibles, co-payments, and coinsurance.
Some Medicare gap plans may also offer to cover services not covered by the Original Medicare such as medical care in case you travel outside the United States.
2018 Best Florida Medicare Supplement Plans
Keep in mind that Medicare Supplement Plans in Florida (or any state) don’t cover dental care, vision, eyeglasses, private-duty nursing and hearing aids.
Plans are specially designed to cover healthcare costs related to both Part A and Part B Original Medicare. Based on this, Medicare beneficiaries have a number of Medicare Supplement plan choices depending on where they live.
For this reason, it’s prudent to understand what each supplement covers. Doing so will help you find a plan that is perfect for both your health and budget.
How Plans Work
Bear in mind that there are about ten standardized Florida Supplement Plans identified by letters A, B, C, D, F, L, K, G, M, and N. All these letter plans offer similar benefits.
For instance, if you purchase a Medigap Plan G in Fort Lauderdale, it will have similar benefits as a Plan G in Tampa. However, policy premiums might differ.
Remember, you have to be registered in Part A and Part B Original Medicare to enroll in Florida supplement plans regardless of the Medicare Plan you wish to enroll. The enrollment period begins the first day of the month your 65 or older AND are enrolled in Part B.
The period lasts for six months and is considered to be the best time to sign up for Medicare Supplemental insurance. During this time, you’re free to register with a plan of your choice in your area.
This way, you’re not subjected to any medical restrictions or underwriting for pre-existing conditions. This implies that an insurance company cannot charge or deny enrollment.
It’s prudent to remember that Florida supplement plans are only meant to supplement Original Medicare, not to replace them. Therefore, you’ll still need to continue paying your premium Medicare Part B to maintain your health insurance coverage.
You should also note that Medicare Supplement Plans don’t include prescription drug coverage. In case you want to get coverage for drug expenses, you’ll need to register for a standalone Prescription Drug Plan Medicare Part D.
- For you to qualify for any supplement plan, you must have Medicare Part A and Part B
- If you’re enrolled in a Medicare Advantage Plan, you can still apply for a Medicare Supplement plan, but you’ll need to leave your Medicare Advantage Plan before the beginning of your policy.
- Policies only cover one person, and if you need your spouse to benefit too, you’ll need to purchase separate policies.
- Policies can be purchased from licensed insurance companies
- Any standardized plan can be renewed even if you have health related problems. This implies that no insurance company can cancel your plan, provided you pay the premium.
- Plans sold in the past covered prescription drugs, but plans sold after 1st January 2006 are not allowed to include coverage of prescription drug. In case you want coverage for prescription drug, you’ll have to enroll in Part D Medicare Prescription Drug Plan
- It’s illegal to sell a plan to anyone if you have a Medical Medicare Savings Account Plan
Insurance Plans that DO NOT Work with Supplement Plans
- Long-term healthcare insurance policies
- Veteran’s benefits
- Indian health service plans
- Urban Indian Health Plans
- Tribal Plans
- Union or Employer plans
- Medicare Prescription Drug Plan
- Medicare Advantage Plans including Private Fee-for-Service Plan, PPO, or HMO
How to Choose
As previously discussed, supplements designated with the same letter offer the same benefits or coverage. However, independent insurance companies offering supplement plans are free to determine their own monthly premium structure.
With this in mind, consider comparing all the plans and choose what is perfect for you based on your health needs and individual budget.
Dropping your Plan
In case you decide to drop your whole plan, remember to be very careful with the timing. For instance, you may want a different supplement plan or Medicare Advantage Plan because it provides prescription drug coverage.
You’ll pay the penalty for late enrollment when joining a new Medicare drug plan if:
- You decide to drop your plan and drug coverage was not creditable prescription drug coverage
- You go sixty three days or more in a row prior to the beginning of your new Medicare drug coverage
Compare the Best Medicare Supplement Insurance Plans in Florida Online
Visit MedicareFAQ and learn more about supplement plans and Medicare options. You’ll have a chance to interact with our Medicare professionals committed to helping people understand their available Medicare options.
Our services are 100% free, and more importantly, you’re not obligated to sign up. Our agents will help you find the best supplement plan for your budget and healthcare needs.
You’ll also get assistance comparing every plan available in your area. In case you’re stuck and you don’t know what plan is best for you, these licensed agents will help you choose the perfect plan. We even have FAQs to answer your top questions.
In the end, you’ll have lots of savings. These licensed agents are always ready to offer any assistance, so feel free to reach out to them today! You can also compare the best Medicare Supplement insurance plans in Florida online by filling out our compare rates form now.