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What is the best Medicare Supplement Plan in Florida?

Find Affordable Medigap Plans in Florida

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Take Aways
  • In Florida, Medicare Supplement Plan G is the most popular plan for 2021.
  • There are 10 Medicare Supplement Plans in Florida to choose from.
  • Medicare Supplement plans do not use a network, go wherever Original Medicare is excepted.

With so many options, determining which is the best Medicare Supplement Plan in Florida can seem overwhelming. At Policy Guide, we will help you sift through 10 standardized plans to find the best fit.

Medicare Supplement plans – or Medigap – pay out-of-pocket costs left after Medicare covers initial healthcare expenses.

Original Medicare (Parts A and B), run by the federal government, is responsible for paying most hospital expenses, outpatient care and many other services. Private insurance companies offer Medicare supplement plans.

Best for full coverage: Plan F

Historically, the best Medicare Supplement insurance plan in Florida for full coverage is Plan F. That’s because Plan F offers a wide range of Medicare benefits and coverage.

Plan F also gives beneficiaries the most flexibility since it doesn’t restrict coverage to a provider network. Plan F – and all Medigap plans – do not require referrals.

While Plan F closed to new enrollees at the beginning of 2020, Medicare Supplement Plan G is a similar version for those newer to Medicare.

It’s important to note that Medigap insurance plans are different from Medicare Advantage plans (Part C). None offers prescription drug coverage. For that, beneficiaries will need to ask their health insurance agent about a Medicare Part D prescription drug plan.

You qualify for Plan F if you:

·      Aren’t enrolled in a Medicare Advantage plan

·      Became eligible for Medicare before Jan. 1, 2020

·      Enroll in Medicare Parts A and B.

Medigap Plan F is a robust healthcare plan, covering 100 percent of the following expenses:

·      Part A deductible

·      Part A coinsurance

·      Part A hospital costs

·      Part A hospice coinsurance or copayments

·      Part B coinsurance or copayments

·      Excess charges associated with Medicare Part B

·      Skilled nursing facility coinsurance

·      Blood (first 3 pints)

About 518,500 people are enrolled in Medigap Plan F in Florida.  

Quick Tip

Apply for a Medigap Plan in Florida when you first become eligible for Medicare, this way you avoid Medical Underwriting.

Best for new to Medicare: Plan G

Because of eligibility changes for Medigap Plan F’s, Plan G is now the most popular Medicare Supplemental insurance policy in Florida for new enrollees. The plan is available for those who became eligible for Medicare starting Jan. 1, 2020.

Plan G is a highly comprehensive plan. The only difference between Plan F and Plan G  is that the cost of Plan F includes the Part B deductible. Those who select Plan G pay the Plan B deductible separately. The standard Part B premium amount in 2021 is $148.50, but that varies based on income.

Like Plan F, Plan G beneficiaries are free to see any provider who accepts Original Medicare Parts A and B. This is especially helpful if you need to see providers at top healthcare facilities in the country. Plan G also gives you peace of mind when traveling in the U.S. if you need medical attention.

With Plan G, you will pay the least amount out of pocket of all Medigap insurance plans. That’s why it’s more expensive than other Medigap plans. The monthly premium price for health insurance will vary depending on your geographic region and other factors. You can also choose low- and high-deductible options.

The best time to buy a Medigap policy is during your six-month Medigap open enrollment period starting the month you turn 65 and after you’ve enrolled in Medicare Part B.

Roughly 17,015 Floridians are enrolled in Medigap Part G.

Best mid-range plan: Plan N

If you’re looking for a mid-range Medicare supplemental insurance plan in Florida, Plan N would be a good fit. It’s the best Medigap plan for a broad yet more affordable way to cover out-of-pocket costs.

Plan N will cover 100 percent of:

·      Part A deductible

·      Part A coinsurance

·      Part A hospital costs

·      Part A hospice coinsurance or copay

·      Part B coinsurance or copay

·      Blood (first 3 pints)

·      Skilled nursing facility coinsurance

  • $20 copay for doctor appointments.
  • Emergency room visits have a $50 copay.

Plan N does NOT cover the Medicare Part B deductible.  Plan N is a more affordable policy than Plan G.

Close to 77,700 people are enrolled in Medicare Plan N in Florida.

Best for lowest rates: Plan K & L

If cost is one of your driving factors over flexibility, Plan K and Plan L are the best Medicare Supplemental insurance plans in Florida for you. Your insurance agent can explain these plan options so you can learn more about pricing.

Plan K and Plan L meet the needs of those who enjoy network freedom without the need for a referral but are on a budget.

Plans K and L cover 100 percent of Medicare Part A coinsurance and hospital expenses, but they provide less help for most other out-of-pocket costs. 

We recommend building a savings account to cover out-of-pocket costs. However, these plans do cap the out-of-pocket expenses a beneficiary will have to pay.

Plan K covers 50 percent of:

·      Part A deductible

·      Part A hospice coinsurance or copay

·      Part B coinsurance or copay

·      Blood (first 3 pints)

·      Skilled nursing facility coinsurance

Plan K caps out-of-pocket expenses at $5,560 in 2021. Once that cap is reached, Medicare will pay 100 percent of covered costs. About 8,500 Floridians are enrolled in Plan K.

Plan L covers 75 percent of :

·      Part A deductible

·      Part A hospice coinsurance or copay

·      Part B coinsurance or copay

·      Blood (first 3 pints)

·      Skilled nursing facility coinsurance

The out-of-pocket cap for Plan L is $2,780 in 2021. 

About 4,371  Floridians are enrolled in Plan L.

Best for under age 65: Plan A

While most Medicare beneficiaries are 65 years and older, some are younger. Plan A is the best Medigap plan in Florida for people under 65 who have disabilities.

Please note that Medigap Plan A is not the same as Medicare Part A. Part A and Part B make up Original Medicare.

Federal law doesn’t require insurance companies to sell Medigap policies to people under 65, but Florida is among the states that do. In fact, Florida requires insurance companies to offer all of its Medigap plans to all eligible Medicare beneficiaries, regardless of age. However, policies may be significantly more expensive for those under 65.

Medicare Supplement Plan A has the fewest benefits of the 10 standard Medigap plans, but it covers 100 percent of:

·      Part A coinsurance

·      Part A hospital costs

·      Part A hospice coinsurance or copays

·      Part B coinsurance or copay

·      Blood (first 3 pints)

Medigap Plan A doesn’t cover any medical costs during foreign travel.

In Florida, about 10,500 people have Medigap Plan A coverage.

Best for savvy buyers: High Deductible Plan G

Plan G is the best Medicare Supplement plan in Florida for savvy buyers who are relatively healthy, can afford a high deductible and anticipate they will not need a great deal of medical care.

With the high-deductible option, you must pay for Medicare-covered costs (coinsurance, copayments, and deductibles) up to a deductible of $2,370 in 2021 before your policy pays anything. The advantage of a high-deductible plan is a lower monthly premium.

Your insurance carrier can help you break down Medicare costs to determine if a high-deductible plan option makes sense for your financial situation.

Best for foreign travel: Plan G

For our world travelers, the best Medigap plan in Florida is Plan G. Plan G has no network restrictions, like an HMO or PPO. You’re free to see any provider who takes Medicare.

Plan G also offers the fullest coverage for out-of-pocket expenses. For foreign travel, Plan G (as well as Plan C, D, F, M and N):

·      Covers foreign travel emergency care if it begins during the first 60 days of your trip and if Medicare doesn’t otherwise cover the care.

·      Pays 80 percent of the billed charges for specific medically necessary emergency care outside the U.S. after you meet a $250 deductible for the year.

Foreign travel emergency coverage with Medigap policies has a lifetime limit of $50,000.

To purchase a Plan G, you must first pay the Part B deductible.

Ready to learn more?

My Medigap Plans is a rapidly growing resource for Medicare beneficiaries. We specialize in educating consumers on their options and guiding them through the process of plan selection. We work closely with some of the nation’s top-rated carriers such as Florida Blue. Take a deeper look at the plans by reviewing our Medicare Supplement Plans Comparison Chart. Learn more or about Medicare Part D Prescription Drug plans, or request a Medicare Supplement Plan Quote.

Florida Medicare Resources

  • Florida SHINE – Get answers to your healthcare questions and receive help selecting the best Medicare Supplement insurance plan in Florida. Specialized volunteers are available to help all Medicare beneficiaries in Florida.
  • www.medicare.gov – The Medicare resource through the United States government. This site will help you learn about the Medicare benefits, and it provides information about how to sign up for the Medicare program.
  • CMS: Centers for Medicare and Medicaid Services – Offers information about Medicare and Medicaid.
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