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Best Medicare Supplement Plans in Florida 2021

Medicare Supplement plans in Florida help Medicare beneficiaries control the ever-rising cost of health care. Medicare Supplemental insurance, also called Medigap health plans, pay for out-of-pocket costs such as deductibles and copays that the federal Medicare program doesn’t cover.

Medicare enrollees buy a Medicare Supplement plan in Florida through a private insurance company. Insurance agents sometimes refer to an insurance carrier that sells Medigap plans as a Medicare insurance company.

Nearly 1 million Medicare beneficiaries have opted to enroll in one of the Medicare Supplement insurance plans in Florida. To be eligible for a Medigap plan, you must first be enrolled in Medicare Part A and Part B.

If you’re a Florida Medicare beneficiary looking for additional medical protection, here’s what you need to know about Medicare Supplement insurance plans in Florida.

What are the Top 5 Medicare Supplement Plans in Florida?

1. Best for full coverage: Plan F

Plan F has the most comprehensive benefits. However, it is not available to people who became eligible for Medicare on or after January 1, 2020. If you were Medicare-eligible before 2020 and enrolled in Plan F, you are allowed to keep it.

2. Best comprehensive coverage: Plan G

When F was discontinued as of January 1, 2020, Medigap Plan G became the most comprehensive coverage for Medicare recipients. If you have F, you may consider switching to Plan G to take advantage of a reduced premium.

3. Best value: Plan N

Plan N is great for individuals who want comprehensive coverage. However, there is a trade-off between monthly premium savings and reduced benefits. Plan N pays the Medicare Part B coinsurance in full, but you are responsible for Medicare Part B copayments as follows:

  • Up to $20 for a visit to your doctor’s office
  • Up to $50 for emergency room visits (waived if you are admitted)

4. Best in savings: High-deductible Plan F

High-deductible Plan F offers the same benefits as the original Plan F but requires you to meet a high annual deductible before the policy pays benefits. However, the high-deductible plan premium as compared to the original Plan F is substantially lower. In 2021, the deductible is $2,370. Once you satisfy this deductible, the plan will cover 100% of the costs.

5. Best for lower premiums: High-deductible Plan G

High-deductible Plan G offers the same benefits as the original Plan G but requires you to meet a high annual deductible before the policy pays benefits. However, the high-deductible policy premium as compared to the original Plan G is substantially lower. In 2021, the deductible is $2,370. Once you satisfy this deductible, the plan will cover 100% of the costs.

What is the Best Supplemental Insurance to go with Medicare?

1. What is the most popular Medicare Supplement plan in Florida for 2021?

Medicare Plan F is generally the Medicare Supplement Insurance plan in Florida with the highest enrollment rate. However, based on new Medigap policies purchased, popularity is quickly shifting to Plan G.

2. Which plan has the best benefits in Florida?

Of all the Medigap policies, Plan F is the most comprehensive, but it is only available to people who were newly eligible prior to January 1, 2020. For Medicare recipients who became eligible on or after that date, Plan G is the most comprehensive.

3. How do I choose the right plan for me?

Our policy guides can help you compare Medigap policies based on your budget, health needs, medical history and your primary state of residence.

4. Which Medigap company offers the best rates in Florida?

There is no one-size-fits-all as the most favorable rates are based on several factors, including demographics and the timing of enrollment. Additionally, the company offering the best rates in one zip code might be the most expensive company in another location. In only a few short minutes, our policy guides can furnish you with a tailored quote.

What is the Average Cost for a Medicare Supplement Plan in Florida for 2021?

As an example, following is the 2021 average monthly premium for a 65-year-old female nonsmoker living in Volusia County based on three of the available Medicare Supplement plans in Florida:

Medigap Policy Sample Premium
Medicare Plan G 156.86
Medicare Plan L 118.48
Medicare Plan N 125.03
Average Monthly Premium 133.46

Premiums will vary based on location and health data.

Common Florida Medicare Supplement Plan Questions

What Companies Sell Medigap Plans in Florida?

There are over 50 insurers that sell Medicare Supplement insurance plans in Florida.

Following are four companies that account for most of the Medicare Supplement insurance sold in Florida along with A.M. Best ratings for financial strength (ability to meet ongoing insurance obligations):

  1. Cigna: A (excellent)
  2. Aetna: A (excellent)
  3. Mutual of Omaha: A+ (superior)
  4. Florida Blue Cross Blue Shield (Florida residents only): A+ (superior)

When Can I Apply for a Florida Medicare Supplement Plan?

The ideal time for beneficiaries to buy a Medicare Supplement plan in Florida is during the Medigap Open Enrollment period. This period starts the first of the month in which you turn 65 or older. To buy a policy, you need to be enrolled in both Medicare Part A and Medicare Part B.

You have six months to sign up for a Medigap plan in Florida once you become eligible. If you miss this window, you may have to go through medical underwriting, and your premium may be impacted by certain health conditions. In some cases, guaranteed issue rights apply. These are rights you have in specific situations that require insurers to sell you a Medicare Supplement Insurance plan in Florida. An example is if you lose your health care benefits because your coverage is no longer available in your service area.

A licensed insurance agent can provide guidance as you compare Medicare Supplement insurance plans and insurers. To help you choose the policy that is right for you, contact your licensed insurance agent before the effective date of your eligibility.

Which is better, Medigap Plan G or Plan N?

Both of these are great Medigap policies. Plan G is more comprehensive with a slightly higher monthly premium than Plan N. In exchange for lower premiums, Plan N will require you to pay copayments as you use the plan. Currently, Plan G is the most popular policy that consumers are purchasing. Medicare Part B excess charges are covered by Plan G but not Medigap Plan N.

What is Medicare Supplement Insurance?

If you are a Floridian with Medicare, you may be interested in Medicare Supplement plans in Florida. Aptly named Medigap, these policies close some of the gaps in Medicare benefits under Original Medicare.

Medicare Supplement insurance plans are designed to save Medicare beneficiaries money by reducing out-of-pocket costs incurred under Medicare Part A and Medicare Part B. However, your Medicare Supplement insurance plan in Florida does not include prescription drug coverage. You can purchase a Medicare prescription drug plan separately.

Though Medigap policies are sold by private health insurance companies, they are part of the federal Medicare program and are bound by federal and state laws for your protection. However, plan options and premiums vary by state, service area and Medicare insurance company. This overview offers information specific to Medicare Supplement plans in Florida.

Is Plan G the Best Medigap Plan in Florida

How Much Does Plan G Cost in Florida?

For a 65-year-old female nonsmoker living in the 32174 zip code, the 2021 Plan G premium ranges from $156.86 to $188.71. The average rate is $174.92.

What is the Plan G Deductible in 2021?

Medigap policies do not have deductibles, but Plan G does require that you pay the Medicare Part B deductible. For 2021, the Part B deductible is $203.

What does Medigap Plan G Cover in Florida?

Related Topics

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 nations top rated carriers such as Aetna, Cigna and Mutual of Omaha. Compare our list of the 10 Best Medicare Supplement Insurance Companies or 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 Enrollment Statistics

  • The five largest counties in Florida are Miami-Dade County, Broward County, Palm Beach County, Hillsborough County and Orange County.
  • Close to 2.5 million Florida beneficiaries were enrolled in Original Medicare insurance in 2018.
  • In 2018, approximately 2 million people were enrolled in Medicare Advantage and Medicare Supplement insurance plans in Florida.
  • In 2015, approximately 800,000 people were enrolled in Medigap plans in Florida.
Key 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.
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