Florida was home to more than 3 million Medicare beneficiaries in 2009.
Medicare is a health insurance program used mainly by senior citizens in the U.S. Medicare was originally available in only two parts, called A and B. Later, two more parts, labeled C, or Medicare Advantage, and D, were added. Medicare is not entirely free and has many copayments, deductibles and premiums. Medicare supplements, often called Medigap, help seniors pay these costs. Medigap plans also offer additional benefits, which regular Medicare does not. As of 2011, there are 12 standardized Medigap plans; Florida offers 10 of the most popular.
Basic Benefits
Plan A Medigap is the most basic and inexpensive of all of Florida's Medicare supplements. All other Medigap plans also feature Plan A's benefits as well as their own, but are more expensive. Basic benefits include coverage of the Part A coinsurance amounts for hospital stays between 61 and 150 days, an additional 365 days of hospital coverage after Medicare runs out, the coinsurance and copayments for Part B services after you have paid the annual deductible and the reasonable costs of the first 3 pints of blood you need per year.
Additional Benefits
Other Medicare supplements in Florida offer extra benefits, such as coverage of the deductibles for both Part A and B, coverage of the Part B excess charges, benefits for skilled nursing care and coverage for medicare treatment you receive during the first 60 days you travel outside the U.S. Only Plan F offers all possible Medigap benefits and coverage.
Plan F
Plan F is a popular Medigap plan since it features all Medicare supplement benefits. However, it is also the most expensive plan. Plan F is, as of 2011, the only Medigap plan that comes with a high-deductible option. This allows users to buy Plan F while cutting monthly premium costs. In 2011, the yearly deductible for high-deductible Plan F was $2,000. If you buy this version of Plan F, your Medigap insurance benefits will not start until you have paid this amount out-of-pocket.
Cost-Sharing Plans
Florida Medigap plans K, L, M and N offer cost-sharing as another way to lower monthly premiums. With Plan N, users get 100 percent coverage of the Part A deductible, the Part B excess charges and skilled nursing facility coinsurance. They also receive the foreign travel emergency benefits, and coverage of all the basic benefits of Plan A. However, buyers will have $20 copays for Part B office visits and a $50 copay for emergency room services. Plan M has similar benefits but covers only 50 percent of the Part A deductible rather than the whole thing. Plan K pays 50 percent of most benefits and Plan L 75 percent. Plans K and L also have annual out-of-pocket limits. In 2011, these were $4,620 for Plan K and $2,310 for Plan L.
Medicare Select
Florida allows insurance companies to offer a Medicare Select option for Medigap plans. Medicare Select Medigap works like HMO plans. The policies have the same benefits as the non-Select plans, but services must be received from inside a network of approved providers.
Tags: Medigap plans, coverage Part, Medicare Select, Medicare supplements, benefits coverage
