Florida Medicare Supplement Insurance Plans, also known as Florida Medigap Plans, are sold by private insurance companies and are intended to give you more complete coverage for your health care needs. There are several different plans available and many are confused about which plan is best.

You might be asking yourself if you need a supplemental plan and, if so, which plan is right for you. There are many things to consider as you navigate the Florida Medicare Supplement landscape.

Plan Overview

The first thing you should know is that all of the Florida Medigap programs are standardized by the government.  So regardless of how you purchase a plan, the benefits will be the same.

The second important noteworthy item is that there are 10 different Medicare Supplement Plans, starting with the letter A and ending with the letter N.

Plan A has the basic benefits that are included in all of the plans.  The Core benefits found in all of the Medicare Supplement Plans are as follows:

  • All letter plans will include hospital stay coverage for an additional 365 days after you’ve exhausted your original Medicare benefits.
  • All letter plans will cover the costs of coinsurance and co-payments associated with your Medicare Part B.
  • In the event you need hospice care, all letter plans will cover the costs not covered by Medicare Part A.
  • In the event that you need a medical procedure, Medicare Part A requires you to pay for the first 3 pints of blood.  All letter plans will cover the costs for this blood and then Medicare Part A will cover the rest of the blood costs.

Since each plan has different benefits, the costs for each can vary significantly. And since there are 10 different Medicare Supplement Plans, it can be difficult to understand the differences of each and choose the best plan for you.

Fortunately, we’ve narrowed the list to provide an overview of the most popular plans.

Plan G

As of January 1, 2020, the most comprehensive Medicare Supplement Plan will be Plan G. Prior to the start of the year, Plan F was the most comprehensive but that plan is being discontinued for new enrollees at the start of the year. So what does Plan G offer?  For starters, it offers all of the core benefits listed above.

Beyond that, Plan G covers all of the deductibles for Medicare Part A.  It does not, however, cover the $198 deductible for Part B.  Additionally, Plan G covers Medicare Part B excess charges.

When you see a provider which doesn’t participate with Medicare, that provider can charge up to 15% more than the standard Medicare rate for your services.  Plan G will cover that additional charge whereas all of the other Medigap Programs fail to do so.  As such, if provider choice is important to you, then it would be wise to consider Plan G.

Plan N

Medicare Supplement Plan N is the fast-selling plan in recent years.  It offers a good balance between solid protection and affordable premiums.

It offers all of the same coverage as Plan G except it does not cover the Medicare Part B excess charges. Additionally, copays of $20 for every doctor visit and $50 for every hospital visit that doesn’t result in admission will be charged under this Plan.

But, as a result of the copays, the premiums will most likely be significantly cheaper for Plan N compared to Plan G

So which Florida Medicare Supplement Plan is right for you?  If you have questions or would like additional information, then call us today.  We can walk you through all of the options available to find a Medigap Plan that meets your needs and fits your budget.