Best Medicare Supplement Plans (Medigap Policy) and carriers in Florida
You are turning 65. Learning the ins and outs of Medicare is confusing. Figuring out all of the options such as Medicare Advantage and Medical Supplements are even more confusing. You know Part A covers Hospitals and part B covers Medical. But you are not sure whether or not you need any other coverage in addition to Original Medicare.
Why do many people purchase a Medicare Supplemental Plan in Florida and what does it cover?
To answer that question, you must first understand how Medicare Parts A & B work, and what is and is not covered. Medicare Part A covers most hospital expenses-but not all of those expenses. In 2011, there is a deductible of $1,132 per visit (as long as each visit is separated by more than 60 days). If you are in the hospital for 61-90 days, you’ll have a per day co-pay of $283. If you are in the hospital for 91-150 days, you’ll have a per day co-pay of $566.
Concerning Medicare Part B, there is an annual deductible of $162 (in 2011) that you are responsible for. In addition to that, you’ll be responsible for 20% of all medical expenses. This 20% can really, really add up. In addition to your regular doctor visits and tests, imagine if you would need a knee or hip replacement. That would require months and months of physical therapy-you would be obligated to pay 20% of all those bills.
While Original Medicare covers most medical needs, it was never meant to cover all of your medical costs. As you can clearly see, there are a lot of “gaps” in coverage, that you are responsible to pay. For this reason, many people will purchase a Medigap or Medicare Supplement Insurance. These two phrases-Medigap and Medicare Supplement are interchangeable-two names describing the same exact insurance. Most Medicare Supplemental Plans will pick up your Hospital deductible and co-pays, as well as your Part B deductible and the 20%.
For most people, it is being exposed to the 20% of medical bills that is the scary part. A battery of test could cost a small fortune. If you need physical therapy or rehabilitation, those twice a week visits, at 20% cost to you, really adds up. Add the potential Part A hospital deductible of $1,132-per visit, and you are looking at quite a medical bill. For this reason, most people want to fill in these gaps in coverage,
With a Medicare Supplemental plan, you are adding an extra monthly expense. However, the trade-off is that you will have a known expense, as opposed to a potentially very high expense if you utilize benefits.
Florida Medigap (Medicare Supplement) Plans by Carrier
| Insurance Carrier | Plan F | Plan G | Plan N | Rating | |
|---|---|---|---|---|---|
| Aetna | $198.16 | $186.33 | $173.66 | 3.5/5 | |
| American Continental | $185.84 | $171.51 | $141.69 | 3.5/5 | |
| American Retirement Life | $191.43 | $172.29 | $137.83 | 3/5 | |
| Americo Life | $190.91 | $171.82 | $148.91 | 3.5/5 | |
| Florida Blue | $182.70 | $168.70 | $154.00 | 5/5 | |
| Central States | $190.42 | $174.33 | $158.17 | 3.5/5 | |
| Colonial Penn | $184.42 | $169.86 | $141.13 | 4/5 | |
| Everence | $250.77 | $202.96 | N/A | 3.5/5 | |
| Gerber Life | $182.09 | $167.46 | N/A | 3.5/5 | |
| Globe Life | $192.50 | N/A | $152.00 | 4/5 | |
| Humana | $183.69 | $158.18 | $126.37 | 4/5 | |
| Renaissance Life | $186.79 | $170.34 | $144.96 | 4/5 | |
| State Farm | $249.73 | N/A | N/A | 3.5/5 | |
| United American | $179.00 | $169.00 | $144.00 | 4.5/5 | |
| United of Omaha | $184.71 | $168.35 | $148.54 | 4/5 | |
| AARP | $182.07 | $168.39 | $131.06 | 4.5/5 | |
| USAA Life | $203.49 | N/A | $153.85 | 4/5 |
Top 10 Medigap Plan F in Florida by Carrier
| Carrier | Premium[3] | Fee | Review[4] | ||
|---|---|---|---|---|---|
| Florida Blue | $182.70 | None | 5/5 | ||
| United American | $179.00 | None | 4.5/5 | ||
| AARP | $182.07 | None | 4.5/5 | ||
| Humana | $183.69 | None | 4/5 | ||
| Colonial Penn | $184.42 | None | 4/5 | ||
| United of Omaha | $184.71 | None | 4/5 | ||
| Globe Life | $192.50 | None | 4/5 | ||
| USAA Life | $203.49 | None | 4/5 | ||
| Gerber Life | $182.09 | $25.00 | 3.5/5 | ||
| American Continental | $185.84 | $20.00 | 3.5/5 | ||
Top 10 Medigap Plan G in Florida by Carrier
| Carrier | Premium[3] | Fee | Review[4] | ||
|---|---|---|---|---|---|
| Florida Blue | $168.70 | None | 5/5 | ||
| AARP | $168.39 | None | 4.5/5 | ||
| United American | $169.00 | None | 4.5/5 | ||
| Humana | $158.18 | None | 4/5 | ||
| United of Omaha | $168.35 | None | 4/5 | ||
| Colonial Penn | $169.86 | None | 4/5 | ||
| Gerber Life | $167.46 | $25.00 | 3.5/5 | ||
| Renaissance Life | $170.34 | $25.00 | 3.5/5 | ||
| American Continental | $171.51 | $20.00 | 3.5/5 | ||
| Americo Life | $171.82 | None | 3.5/5 |
Top 10 Medigap Plan N in Florida by Carrier
| Carrier | Premium[3] | Fee | Review[4] | ||
|---|---|---|---|---|---|
| Florida Blue | $154.00 | None | 5/5 | ||
| AARP | $131.06 | None | 4.5/5 | ||
| United American | $144.00 | None | 4.5/5 | ||
| Humana | $126.37 | None | 4/5 | ||
| Colonial Penn | $141.13 | None | 4/5 | ||
| United of Omaha | $148.54 | None | 4/5 | ||
| Globe Life | $152.00 | None | 4/5 | ||
| USAA Life | $153.85 | None | 4/5 | ||
| American Continental | $141.69 | $20.00 | 3.5/5 | ||
| Renaissance Life | $144.96 | $25.00 | 3.5/5 |
Top 10 Medicare Part D (Rx, PDP) Plans by Carrier
| Plan Name | Monthly Premium | Part D Deduct. | LIS | Plan Type | Rating |
|---|---|---|---|---|---|
| WellCare Wellness Rx | $14.70 | $445 | N | Enhanced | 4/5 |
| WellCare Value Script | $15.60 | $445 | N | Enhanced | 4/5 |
| WellCare Classic | $26.60 | $445 | Y | Basic | 4/5 |
| SilverScript SmartRx | $7.30 | $445 | N | Enhanced | 3.5/5 |
| Humana Walmart Value Rx Plan | $17.20 | $445 | N | Enhanced | 3.5/5 |
| Cigna Secure-Essential Rx | $24.00 | $445 | N | Enhanced | 3.5/5 |
| SilverScript Choice | $24.80 | $305 | Y | Basic | 3.5/5 |
| WellCare Medicare Rx Select | $26.40 | $445 | N | Enhanced | 3.5/5 |
| Express Scripts Medicare Value | $26.80 | $445 | Y | Basic | 3.5/5 |
| Express Scripts Medicare Saver | $27.20 | $285 | N | Enhanced | 3.5/5 |
| Cigna Secure Rx | $30.50 | $445 | Y | Basic | 3.5/5 |
| AARP MedicareRx Walgreens | $35.40 | $445 | N | Enhanced | 3.5/5 |
| Humana Basic Rx Plan | $45.00 | $445 | N | Basic | 3.5/5 |
| WellCare Medicare Rx Saver | $49.80 | $445 | N | Basic | 3.5/5 |
| AARP MedicareRx Saver Plus | $54.20 | $445 | N | Basic | 3.5/5 |
| Cigna Secure-Extra Rx | $58.80 | $100 | N | Enhanced | 3.5/5 |
| Elixir RxPlus | $61.90 | $445 | N | Basic | 3.5/5 |
| SilverScript Plus | $62.70 | $0 | N | Enhanced | 3.5/5 |
| Humana Premier Rx Plan | $66.10 | $445 | N | Enhanced | 3.5/5 |
| WellCare Medicare Rx Value Plus | $77.80 | $0 | N | Enhanced | 3.5/5 |
| Express Scripts Medicare Choice | $84.30 | $100 | N | Enhanced | 3.5/5 |
| AARP MedicareRx Preferred | $88.70 | $0 | N | Enhanced | 3.5/5 |
| BlueMedicare Premier Rx | $73.70 | $405 | N | Basic | 3/5 |
| BlueMedicare Complete Rx | $172.00 | $0 | N | Enhanced | 3/5 |
| Mutual of Omaha Rx Premier | $25.90 | $445 | N | Enhanced | 2.5/5 |
| Mutual of Omaha Rx Plus | $86.00 | $445 | N | Basic | 2.5/5 |
| Clear Spring Health Premier Rx | $13.50 | $445 | N | Enhanced | 0/5 |
| Clear Spring Health Value Rx | $26.90 | $445 | Y | Basic | 0/5 |
How to pick a Medicare Supplemental Insurance Plan in Florida?
Going to any Medicare supplement provider like United HealthCare’s website to view all of the available plans at your disposal is a good idea. By entering the insured person’s zip code, birthday and the dates to which their Medicare went into effect, your specific plan options will be presented to you.
However, it’s a good idea to reach out to an independent Medicare insurance broker to guide you when purchasing a plan after comparing various MediGap plans from different carriers and the monthly premiums involved. Insurance is a very dense and complicated subject, making an Insurance agent a valuable addition to your Medicare needs.
Before anyone can apply for a Medicare Supplement Plan, such as Medigap, they need to be currently enrolled in Medicare Parts A and B and signing up during the Medigap Open Enrollment Period allows you automatic acceptance. This open enrollment period begins when the insured is 65 years of age or older and has been enrolled in Medicare Part D for the prior six months.