Information on Florida Medicare for 2018

Florida Medicare Supplemental insurance plans are for those who are enrolled in traditional Medicare, beneficiaries must be covered by Part A and Part B. Medicare covers a large percentage of medical costs, but those who have Medicare are responsible for the financial portion that Medicare does not cover. Medical services and supplies left unpaid is known as a gap or hole in coverage. Supplements can fill in this gap in coverage.

Insurance companies that provide coverage for medical expenses created a product designed specifically for Medicare beneficiaries to help cover the cost of co-payments, coinsurance, and deductibles that are not covered by traditional Medicare. We'll discuss the basics, what's not covered, eligibility & enrollment, carriers, some state healthcare facts and where to go next to enroll.

Florida Medicare Supplement Plans
These plans are great supplemental coverage that fill in the gaps left by Medicare. Original Medicare pays around 80% of your medical bills, leaving you responsible for the remaining 20%. There are 10 plan options, with an additional high deductible plan, all lettered A-N. All plans are standardized by the government, this means that regardless of what plan you decide to go with, the coverage will be the same across all Florida Medicare Supplement insurance companies.

The reason it's important to research the different carriers is because the cost will be different, but the benefits per letter plan will remain the same. Florida Medigap plans monthly premium must be paid directly to the insurance company to maintain coverage.

What's Not Covered

This coverage doesn't pay your Medicare Part B premium nor does it cover prescription drugs. You must purchase a stand-alone Medicare prescription drug plan to cover the expenses that are associated with the cost of your medicine. Historically, some plans that were sold in the past did provide prescription drug coverage, but this is no longer the case. Each plan covers the basic benefits, and differ by adding additional benefits on top of the basic ones.

Eligibility & Enrollment

Individuals who are enrolled in both Medicare Part A and Medicare Part B are eligible to purchase Florida Medicare Supplement plans. The best time to enroll in a plan is during Open Enrollment (OEP). The first day of the month when a person turns 65 or older AND is enrolled in Medicare Part B is when their OEP time frame begins and lasts for 6 months.

Some states don't offer plans to those receiving Medicare benefits under 65, however Florida does. You're able to purchase any of the 10 supplement plans, but there will be a difference in cost compared to those insured who are 65 or older.

During this time, Medicare beneficiaries can purchase supplement plans without having to go through any type of medical screening. Carriers cannot turn a person away due to medical conditions during Open Enrollment. In addition, private insurance companies must charge those with medical issues the same as those without any medical issues. Again, this is only valid during your OEP, after this initial time period different rules will apply.

Medicare Supplement Providers in Florida Rate Determine Factors

Educating yourself on all the different carriers is an important part of making a well-informed decision. The plans are standardized nationwide regarding benefits, but the Medicare Supplement policy, or Medigap, providers in Florida still get to determine the cost based on specific factors such as location, gender, age or if you’re a smoker.