Florida has the second highest proportion of senior residents aged 65 and above in the US. With this demographic constituting 19.36% of Florida’s total population, Medicare coverage plans are needed for cost efficiency in healthcare management.
Medicare, a well-established health insurance program in the United States, is a fee-for-service plan administered by the federal government and funded by the General Revenue and Federal Insurance Contributions Act.
Medicare in Florida is designed to meet the ever-growing healthcare needs of senior adults aged 65 and above, those with certain disabilities, and people with end-stage renal disease (ESRD).
The federal government directly administers Original Medicare. In contrast, plans such as Medicare Advantage plans and Medicare Supplement plans in Florida are administered by private health insurance companies.
As of 2024, 18.5% of the US population is on Medicare. This extensive health insurance program consists of Original Medicare, Medicare Advantage, and Medicare Supplement plans.
The Medicare Supplement Plan is also called Medigap. Medigap is an optional plan that covers what’s not covered under Medicare Parts A and B. These plans provide additional health insurance for your out-of-pocket expenses. Let us look into Medigap Supplement plans and what they offer to beneficiaries in Florida.
What Is a Medicare Supplement Plan (Medigap)?
Medicare Supplement Plan, or Medigap, is a secondary coverage plan offered by private companies. Its primary purpose is to provide additional health insurance for out-of-pocket costs that aren’t covered by Original Medicare Parts A and B. This means that Medigap only covers what isn’t covered by Original Medicare.
Other plans, such as Medicare Advantage plans, work as an alternative to Original Medicare with additional coverage. However, enrolling in Medigap only provides insurance for what’s not covered by Original Medicare. Therefore, you must have an Original Medicare plan with supplemental Medicare, as it is not a stand-alone insurance policy.
Private health insurance companies offer Medicare beneficiaries Medigap. According to the rules and regulations set by the Centers for Medicare and Medicaid Services (CMS), every plan must provide beneficiaries with the same coverage under the same plan.
However, the premium set for Medigap varies from State to State and provider to provider. Let’s explore Medicare Supplement plans in Florida.
Medicare Supplement Plans in Florida
Florida’s average life expectancy is 76 years, which makes senior healthcare programs necessary in the State. Health insurance after retirement is vital for mental, physical, and financial well-being.
About 29 private health insurance providers in Florida offer Medicare Supplement plans to residents. Seniors in Florida prefer to have Medicare Supplement insurance to fill the gaps in Original Medicare.
However, you must know that you can’t have Medigap coverage with Medicare Advantage plans. Choosing a Medicare Advantage plan works as an alternative to Part A and Part B, with additional coverage for hearing, vision, and dental care.
In contrast, Medicare Supplement plans cover out-of-pocket expenses, including copayments, coinsurance, and deductibles.
- Deductibles are costs that you cover before Medicare provides coverage for health services. Thus, deductibles apply to all Medicare Parts.
- A copayment is like a fixed payment for a doctor’s visit. This amount is paid only after you pay your deductibles.
- Coinsurance is an effective cost-sharing method in which you pay a small percentage of the total amount for specific services after paying your deductibles. Your Medicare insurance plan covers the rest of the cost.
General Analysis of Medicare Supplement Plan Providers in Florida
| Insurance Company | Plan types offered | NAIC complaint rate | Premium discounts available | Share of Florida Medigap members |
| BlueCross BlueShield | A, B, C, D, F, G, K, L, M and N. | Close to expected | Average | 17.9%. |
| Humana | A, B, C, F, G, K, L and N. | Far more than expected | Below average | 1.4%. |
| UnitedHealthcare | A, B, C, F, G, K, L and N. | Far fewer than expected | Above average | 53.5%. |
| Aetna | A, B, C, D, F, G and N | Far more than expected | Average | — |
| Cigna | A, F, G and N. | More than expected | Above average | — |
Types of Medicare Supplement Plans in Florida
The State of Florida offers ten types of standard Medigap plans. Medigap plans C and F are not available to new members.
Besides this, the three most popular types of Medicare Supplement plans cover 81% of Florida beneficiaries. These are Medigap plans F, G, and N.
57% of Florida Medigap beneficiaries have access to Medigap Plan F, the most comprehensive Medigap coverage.
About 15% of Florida beneficiaries have Medigap plan G, which is the highest-coverage option available to new Medicare beneficiaries, while Medigap plan N has 10% of Medigap beneficiaries. This plan has a lower premium with higher copays.
Cost Breakdown of Three Most Popular Medicare Supplement Insurance Plans in Florida
The three most popular supplement plans in Florida are Medigap Plan F, G, and N. The cost for these plans varies. Here’s a detailed cost breakdown for these popular Florida Medigap plans.
Medicare Supplement Plan F
In Florida, there are approximately 28 Medigap Plan F options offered by 23 different insurance providers. The availability and monthly premiums vary due to factors such as an individual’s age, sex, health status, and location.
In Florida, Medigap plan F is not available to new applicants. However, beneficiaries who were eligible for Medicare before January 1, 2020, can sign up for a plan. People who already have plan F can also keep the plan.
| Beneficiary | Duval County | Hillsborough County | Walton County |
| Average monthly premium for a 65-year-old female who doesn’t smoke | $231 | $229 | $218 |
| Average monthly premium for a 65-year-old female who smokes | $258 | $257 | $244 |
| Average monthly premium for a 65-year-old male who doesn’t smoke | $253 | $251 | $238 |
| Average monthly premium for a 65-year-old male who smokes | $283 | $281 | $267 |
Medicare Supplement Plan G
In Florida, there are approximately 29 Medigap Plan G options offered by 29 different insurance providers.
| Beneficiary | Duval County | Hillsborough County | Walton County |
| Average monthly premium for a 65-year-old female who doesn’t smoke | $197 | $196 | $186 |
| Average monthly premium for a 65-year-old female who smokes | $221 | $220 | $209 |
| Average monthly premium for a 65-year-old male who doesn’t smoke | $217 | $215 | $204 |
| Average monthly premium for a 65-year-old male who smokes | $243 | $242 | $229 |
Medicare Supplement Plan N
In Florida, there are approximately 28 Medigap Plan N options offered by 28 different insurance providers.
| Beneficiary | Duval County | Hillsborough County | Walton County |
| Average monthly premium for a 65-year-old female who doesn’t smoke | $151 | $184 | $142 |
| Average monthly premium for a 65-year-old female who smokes | $169 | $167 | $159 |
| Average monthly premium for a 65-year-old male who doesn’t smoke | $165 | $164 | $156 |
| Average monthly premium for a 65-year-old male who smokes | $185 | $184 | $175 |
Cost Determination of Medicare Supplement Plans
The primary factors determining the cost of your plan are your location, age, provider, and the benefits it covers. Therefore, different counties in Florida have different prices for popular plans such as Medigap Plan F, G, and N. If plan F costs less in Duval County, it may cost more in Walton County.
Similarly, some Medigap policies that may be more affordable for people aged 65 may become costly at age 85. Generally, Medigap prices are determined in three ways.
- Community-rated: Everyone with the Medigap policy pays the same monthly premium, regardless of age.
- Issue age-rated: With this type of Medigap policy, the premium is based on your age when you first purchase the policy. The younger you are at the time of purchase, the lower your premium will be. The benefit of this rating system is that your premium won’t increase as you age. However, your premium may still go up due to inflation, healthcare cost increases, or changes in the insurance provider’s pricing.
- Attained age-rated: The premium is based on your current age and increases as you age. Therefore, plans that cost less at 65 may cost more at 85. While this type of policy may initially offer the lowest premium, it has the potential to become the most expensive over time. The premium can also increase due to inflation and other factors.
Besides this, the premiums may vary from provider to provider as these plans are offered by significantly different private health insurance companies. However, a Medicare Supplement Plan’s average monthly premium cost in Florida can range from $50 to over $300.
Cost Comparison of the Top-Rated Medicare Supplement Plans in Florida
As all the same types of Medigap plans offer the same coverage across Florida, looking into the price difference can help you make a cost-efficient decision.
Your standardized benefits will be the same regardless of your chosen provider. Let us look into the prices of the five popular Medigap companies providing plan G and N in Florida. The table below provides the estimated cost for a 65-year-old non-smoker female.
| Insurance Company | Plan G Monthly Premium | Plan N Monthly Premium |
| UnitedHealthcare | $194. | $166. |
| Bankers Life | $198 | $154 |
| Humana | $212 | $159 |
| Florida Blue | $214 | $177 |
| United American Insurance Company | $224 | $151 |
Medicare Eligibility in Florida
What makes you eligible for Medicare in Florida? Medicare has the same eligibility criteria across all the States. You qualify for Medicare if:
- You are 65 years old or above
- You have a medical disability
- You have end-stage renal disease (ESRD)
- You have amyotrophic lateral sclerosis (ALS)
You must be approved by the Social Security Administration for either your age or disability to be eligible for Medicare.
When Is the Best Time to Buy a Medigap Policy in Florida?
The best time to purchase a Medigap policy is during the Open Enrollment period. Medicare has two enrollment periods besides open enrollment. These are your initial enrolment period (IEP) and a general enrolment period (GEP).
- Open enrollment period (OEP): You can join, switch plans, or drop your coverage plans from October 15 to December 7 each year. Suppose you’re under 65 and have Medicare because of a disability or End‑Stage Renal Disease (ESRD). In that case, you might not be able to buy the Medigap policy you want, or any Medigap policy, until you turn 65.
- Initial enrollment period (IEP): The IEP is 7 months long, starting 3 months before your 65th birthday and ending 3 months after you turn 65. You can enroll during this period if you haven’t had Medicare before.
- General enrolment period (GEP): If you miss your IEP, you can access Medicare by applying for it during the general enrollment period (GEP) between January 1 and March 31 every year. During this period, you can also change your current Medicare plans. For example, if you have a Medicare Advantage plan and you want to switch to Original Medicare, you can do so during this period.
Benefits of Medicare Supplement Plans in Florida
Medicare Supplement Plans offer a range of benefits to beneficiaries in Florida, helping to cover gaps in traditional Medicare coverage.
One significant advantage of Medigap plans is that they provide coverage for costs that Original Medicare does not cover, such as copayments, coinsurance, and deductibles. This benefit provides financial relief to senior residents.
Moreover, Florida residents have a variety of Medigap plans to choose from, each offering different levels of coverage. This variety of plans allows individuals to select a plan that best suits their healthcare needs and budget.
Since the federal government standardized Medigap plans, the benefits for each plan type are the same regardless of the insurance provider, although the costs can vary.
The standardization across the plans simplifies the selection process, as beneficiaries only need to look into the premiums, insurer ratings, and competitive rates.
Another benefit of Medigap policies is the freedom to choose healthcare providers. Unlike Medicare Advantage plans, Medigap plans do not restrict beneficiaries to a network of doctors.
As long as a healthcare provider accepts Medicare, the Medigap plan will cover its share of the approved amount. This is beneficial for those who travel frequently.
Some of the Medigap plans in Florida also offer coverage for services that Medicare does not insure, like medical care when traveling outside the United States. Therefore, having access to Medigap with Original Medicare proves more beneficial than having a standard Medicare plan.
Medicare Florida Resources
Numerous organizations offer guidance and provide senior residents with additional information about Medicare plans in Florida. Here are some organizations to assist you.
| Organization | How you can get help | Website & Contact Info |
| Serving Health Insurance Needs of Elders (SHINE) | Shine counselors provide free guidance to Florida residents regarding Medicare. They have trained counselors throughout Florida, which makes it easier for residents to seek help in any county. They efficiently resolve all Medicare-related queries. | Website |800-963-5337 |
| Senior Resource Alliance | Senior Resource Alliance is a non-profit organization serving senior adults in Florida. It provides Medicare-related information and assists people in accessing local and federal services, including Medicare. | Website | (912) 285-6083 |
| Florida Office of Insurance Regulation | This department provides vital information to assist senior adults in avoiding scams and Medicare fraud. Therefore, it helps protect the interest of those looking to buy insurance. | Website | (850) 413-3140 |
| Area Agency on Aging for Southwest Florida | The Area Agency on Aging for Southwest Florida guides senior residents about Medicare plans and connects them with other necessary resources to help them access daycare, housing assistance, and medical assistance across Florida. | Website | (866) 413-5337 |
Find the Right Medicare Supplement Insurance Plan With Silveredge
Medicare supplement plans are standardized across the State. Therefore, you receive the same benefits. The only difference is the cost of these plans, as the premiums vary from provider to provider.
But besides looking into the competitive rates, you must also check the available plans in your State. As Medigap has various types of plans, you should consider what each plan offers.
Most policies often cost less when you’re aged 65 but may become the most expensive policy as you age. Therefore, it’s best to compare the prices, look into the cost-determining factors, and discount perks before signing up for a plan.
You can also seek professional help from licensed advisors at Silveredge to compare plans, understand premiums, cost-determining factors, and more. Resolve your Medicare queries today with Silveredge!
