Our easy guide to Florida Medigap rules and regulations will prepare you to make smart Medicare insurance decisions. Basically, when it comes to Medigap, everything in the Sunshine State is standardized just like most other states except for one key exception. All Florida Medigap plans are issue-age rated when it comes to pricing. This means that the younger you are when you first enroll, the less you pay, forever! Stick with us and we’ll walk you through what you need to know about FL Medigap policies.
Florida Medigap policy basics
Here’s the skinny on Florida Medigap plans:
- 10 standardized plans for persons Medicare Part B eligible prior to January 1, 2020
- 8 standardized plans for persons Medicare Part B eligible as of 2020 (plans F and C are not available)
- Plans are standardized with benefits and networks the same to the majority of other states
- Florida is an issue-age state (explained below)
Florida’s Medigap Issue-Age rates explained
Medigap plans in most states are priced in one of three ways: 1) Age Attained, 2) Community Rated or 3) Issue Aged. In Florida, all Medigap plans are regulated to be priced as the issue aged. This means that the price is based on the age you enroll and cannot increase just because you are getting older.
Medigap plans can increase for inflation and other factors, but you will not see your plans price go up on your birthday like they do with age-attained plans. With issue-age plans, you want to purchase them when you are first eligible because they are usually less expensive for someone 65 than someone 70 or 75 years old. To see how much issue-aged plans cost in your area, click on the links below.
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8 FL Medigap plans compared
What happened to the 10 Medigap plans we mentioned above? New regulations! Due to a new federal law, only those who are Medicare Part B eligible before 2020 can enroll in Medigap Plan C and Plan F. Those who because medicare-eligible after Jan 1 2020 can select from the 8 plans below.
| Benefits | A | B | D | G* | K | L | M | N |
|---|---|---|---|---|---|---|---|---|
| Medicare Part A Deductible ($1,600) | 100% | 100% | 100% | 50% | 75% | 50% | 100% | |
| Part B Deductible ($226) | ||||||||
| Medicare Part A Hospital Coinsurance and 365 additional hospital days | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Medicare Part B Coinsurance | 100% | 100% | 100% | 100% | 50% | 75% | 100% | 100%* |
| First 3 Pints of Blood for a Transfusion | 100% | 100% | 100% | 100% | 50% | 75% | 100% | 100% |
| Medicare Part A Hospice Coinsurance or Copay | 100% | 100% | 100% | 100% | 50% | 75% | 100% | 100% |
| Skilled Nursing Facility Coinsurance | 100% | 100% | 50% | 75% | 100% | 100% | ||
| Medicare Part B Excess Charges | 100% | |||||||
| Foreign Emergency Healthcare | 80% | 80% | 80% | 80% | ||||
| Max Out-of-Pocket | $6,940 | $3,470 |
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*Medigap Plan G High deductible ($2,700) is also available.
Florida Medigap plans discounts
Like we discussed, Florida has some of the most expensive Medigap plans. So, taking advantage of discounts can keep some extra dough in your pocket. Here are some discounts available to Floridians:
You can (likely) keep your Florida Medigap plan if you move
If you move to the majority of states, you can keep your Florida Medigap. The reason for this is Florida Medigap plans are the standardized A-N plans that most states offer. You will need to let your Medigap provider know your new zip code. This can increase or decrease your Medigap premium monthly rate but you will not need to apply for a new plan. Medigap plans are usually very portable.
Here are the states where you may have to disenroll from your Medigap plan and join a state-specific Medigap plan:
- Massachusetts Medigap plans
- Minnesota Medigap plans
- Wisconsin Medigap plans
What to do next
Even with all the important info that you now have on Florida Medigap policies, you still may have questions about selecting the right plan for you. This is where we come in. You can leave a comment/question below or just give one of our licensed agents a call at 800-930-7956.
Our agents can NEVER charge you a fee for a quote or enrollment.