Best Medicare Supplement Plans in Florida 2024
Florida offers ten standardized Medicare Supplement plans. Standardization ensures that regardless of whether you buy a plan in Jacksonville or Tampa, the benefits remain consistent.
Of the ten options, Plan G is the best Medicare Supplement plan in Florida for 2024, followed by Plan N and High Deductible Plan G.
How Much Do They Cost per Month?
- Plan G: $131 to $207
- Plan N: $127 to $162
- High Deductible Plan G: $46 to $71
Here are the top four plans, along with their coverage highlights:
Medicare Supplement Plan G
- Medigap Plan G became the most comprehensive coverage for Medicare recipients since Medicare Plan F was discontinued on January 1, 2020.
- If you currently have Plan F, you may consider switching to Plan G to take advantage of a reduced premium.
- There are over 134,682 Floridians enrolled in Plan G.
Medicare Supplement Plan N
- In 2024, Medicare Plan N will be excellent for individuals who want comprehensive coverage. However, there is a trade-off between monthly premium savings and reduced benefits.
- More than 89,800 individuals from Florida have chosen to enroll in Plan N.
- Plan N pays the Medicare Part B coinsurance in total, but you are responsible for Medicare Part B copayments as follows:
- Up to $20 for a visit to your doctor’s office; up to $50 for emergency room visits (waived if you are admitted)
Medicare Supplement High Deductible Plan G
- High Deductible Plan G has the same benefits as Medicare Plan G.
- The annual deductible is $2,800.
- It is much more affordable compared to Medicare Plan G.
- Offers significant cost savings compared to High Deductible Plan F while providing coverage for everything included in High Deductible F, except for the Part B deductible.
Medicare Supplement Plan F
- Medicare Plan F offers extensive benefits but is not available to those who became eligible for Medicare on or after January 1, 2020. Over 528,800 people in Florida have enrolled in Plan F.
- Part A deductible
- Part B deductible
- Skilled nursing facility coinsurance
- Medicare Part A coinsurance and additional days in the hospital
- Home health care
- Blood (first 3 pints)
- Hospice care coinsurance
- Part B coinsurance or copay
- Foreign travel emergency
- Part B excess charge
What’s the Most Popular Medicare Supplement Company in Florida?
Accendo Insurance Company (Aetna) is Florida’s leading Medicare Supplement company. While Aetna’s Medigap plans may offer some of the most cost-effective options in the state, it is important to consider more than just the price when choosing a Medicare Supplement provider.
Aetna distinguishes itself from the competition through its affordability, wide range of plan options, premium discounts for households, and exceptional customer satisfaction ratings.
For a comprehensive overview, refer to the chart comparing Aetna with other Medicare Supplement companies in Florida. This resource provides valuable information, such as sample premiums and ratings.
| Company | AM Best Rating | Plan G Rates | Plan N Rates | HDG Rates | Plan F Rates |
|---|---|---|---|---|---|
| Accendo Insurance Company | A | $131.03 | $131.03 | $201.34 | |
| American Home Life Insurance Company | B++ | $171.93 | $126.78 | n/a | $208.96 |
| Humana Insurance Company | A- | $174.12 | $129.74 | $66.78 | $201.93 |
| AFLAC | A+ | $174.99 | $127.31 | n/a | $206.39 |
| United World Life Insurance Company | A+ | $176.43 | $128.65 | n/a | $222.23 |
| Ace Property and Casualty Insurance Company | A++ | $177.75 | $132.75 | $71.17 | $206.42 |
| Lumico Life Insurance Company | A | $178.50 | $141.42 | n/a | $202.17 |
| S.USA Life Insurance Company, Inc (Prosperity) | A- | $179.13 | $134.55 | n/a | $206.57 |
| American Benefit Life Insurance Company | A- | $181.55 | $135.69 | n/a | $212.03 |
| Allstate Health Solutions | A+ | $185.67 | $141.12 | n/a | $206.24 |
| New Era Life Insurance Company | A- | $190.31 | $145.20 | n/a | $214.27 |
| Cigna Health & Life Insurance Company | A | $194.67 | $134.50 | n/a | $245.37 |
| Florida Blue (Blue Cross and Blue Shield of Florida) | $196.40 | $161.80 | n/a | $223.20 | |
| Continental Life Insurance Company of Brentwood, Tennessee (Aetna) | A | $197.17 | $136.28 | n/a | $219.58 |
| Capitol Life Insurance Company | A- | $197.95 | $148.23 | n/a | $229.75 |
| United American Insurance Company | A | $202.00 | $136.00 | $46.00 | $225.00 |
| Union Security Insurance Company | B++ | $207.48 | $160.50 | n/a | $248.67 |
How Does Age Impact Medigap Pricing in Florida?
Florida implements issue-aged pricing, which means that your Medigap premium is determined by the age at which you purchase the policy. This premium remains unchanged as you get older.
Buying Medigap policies at a younger age may result in potential cost savings. This applies particularly to states like Florida, where issue-age-rated pricing has been in effect for all new Medigap plans.
As mentioned, this pricing structure ensures that premiums remain fixed regardless of the individual’s age at the time of purchase or renewal.
Acknowledging that Medigap providers can modify premiums in response to inflation and other factors is crucial.
Ready for Next Steps?
If you’re interested in gaining a deeper understanding of the benefits each Medigap plan offers, take a look at our handy Medicare Supplement Plans Comparison Chart.
Our expertise lies in guiding individuals through their Medicare insurance choices. We have established partnerships with leading Medigap carriers nationwide, guaranteeing exceptional service throughout the process.
Give us a call today or request a quote online.
Frequently Asked Questions:
The average cost of a Florida Medigap plan can range from $46 to $300 per month. This depends on factors such as age, gender, health status, and the type of coverage you choose.
Plan G is one of Florida’s best Medicare Supplement plan options. It offers a wide range of coverage, including coinsurance and copayments.
Plan G can range from $131 to $207 monthly in Florida, though actual premiums may vary by county and age.
Article Resources:
- Types of Medigap Plans
- How Much Do Medigap Plans Cost?
- When Can I Apply for a Medicare Supplement Plan?
- How Do I Enroll in a Medigap Plan?
- When Can I Change Medigap Plans?
- Can I Be Denied Medigap Coverage?
- CMS Medicare Services
- Florida Department of Elder Affairs
Disclaimer:
Average quotes are for sample purposes only. Actual premiums are based on several factors, including health conditions, age, location, tobacco status, gender, and insurance provider.
