Medicare is a federal program and Medicare Part A and Medicare Part B come with the same coverage, costs and benefits for everyone. However, Medicare Advantage (Part C), Medicare Part D and Medigap Plans are offered by private insurance companies and they are regulated by each state.
Therefore, these plans tend to vary. Although there aren’t any major differences, it is important to look for your state before you opt for Medicare Advantage Plans or any of the Medigap plans.
How do Medicare Plans Differ by State?
Before we dive into what Florida has to offer in terms of medical insurance, you need to know what the differences are between Medicare Plans by state. We will not compare all 50 states. Instead, we will provide a few examples for you to get an idea of how this works.
The biggest differences in Advantage Plans between the states is the monthly premium and the number of Plans offered. For example, the average monthly premium in California is $19.94 whereas there are a total of 424 plans to choose from, whereas the average monthly premium in Michigan is $38 with just 169 variants.
For example, Medicare users in Florida pay $8.28 on average, but there are 527 plans to choose from.
Compare Medicare Plans
First of all, you need to compare Medicare Plans and see which Medicare Plans are actually available for Florida residents. The quickest way to do so is visit MedicareConsumer.com and enter your zip code to compare rates from multiple top-rated insurance carriers. You will discover all the Medicare plans available to you in Florida after which you can compare the coverage and prices and proceed to checkout.
Who Qualifies for Medicare in Florida?
Before you can purchase your Medicare insurance, you need to know if you qualify for it. Every US citizen or permanent legal resident who has lived in the USA for more than five years can get Medicare insurance.
However, the following conditions need to be met as well:
- You must be 65 or older
- You are disabled and receive disability benefits from Social Security or Railroad Retirement Board. In this case, you can be younger than 65.
- You have end-stage renal disease
- You have ALS.
People who are 65 and receive Social Security benefits will be enrolled automatically and they will receive the original Medicare plan. The original Medicare is divided into Part A and Part B.
Medicare Part A
Medicare Part A is also known as hospital insurance. It covers inpatient care in a hospital, hospice care, home health care, skilled nursing facility care and nursing home care.
Medicare Part B
Medicare Part B is known as medical insurance and there are 2 types of services all beneficiaries receive. One of them is the preventative service which includes the prevention of illness like the flu. That means that you can visit the doctor’s office and get an early treatment. The other one is medically necessary services which include either supplies or services that you need in order to get well.
In more details, the Medicare Part B covers:
- Clinical research
- Ambulance service
- Durable medical equipment
- Mental health
- Limited outpatient prescription drugs
It is important to mention that the Medicare Part B has seen an increase in monthly premium in 2023, reaching the price of $170.10.
“At the Secretary’s direction, CMS reassessed the Medicare Part B premium and recommended that the identified savings be incorporated into the Medicare Part B premium for 2023,” said CMS Administrator Chiquita Brooks-LaSure. “Due to changes in the cost of Aduhelm™ and coverage since the premium was established, CMS recommends that the lower-than-anticipated spending in 2023 be incorporated into the 2023 Part B premium determination. The Biden-Harris Administration remains committed to lowering health care costs for beneficiaries by increasing price transparency, lowering the cost of prescription drugs, and connecting people to savings programs.”
We’ve said that the original Medicare is a Federal Plan and it is the same for everyone. However, the plan has some gaps and it is advisable to opt either for the Part D which covers prescription drugs, any of the Medicare Advantage Plans or any of the Medigap Plans.
How to Get Medicare in Florida
Before you turn 65, you need to reach out to the Social Security office because this is the period of your Initial Medicare Enrollment. It lasts three months before you turn 65 and three months after it, which means that you have a total of 6 months to get your insurance. However, if you live in Florida and miss this period, there’s always an option to enroll from January 1 to March 31.
Advantage and Supplement Plans
In order to cover the gaps the original Medicare plans have, Florida residents are advised to get one of the Advantage Plans or the Supplement Plans that are available in their state.
Medicare Part D is the most popular advantage plan because it covers the costs for prescription drugs. In case you are using prescribed pills in your treatment, getting this type of plan is great because you can reduce your costs significantly.
When it comes to the supplement plans, three plans stand out: Part F, Part G and Part N. Each of these plans comes with certain benefits and downsides. For example, Part F provides the best coverage but it also has the most expensive monthly premium. The same can be said for Part G, except that it lacks the Part B deductible, which means that you will have some extra costs in that department.
Last but not least, Part N is one of the most affordable options. It isn’t as comprehensive as the other 2 plans, but if you aren’t visiting the doctor’s too often, this can be a great option to cover out-of-pocket costs once you do.
Review your options and find the best Medicare plan in Florida now!