Florida Medicare Supplement Insurance
The Florida Medicare supplement insurance exchange simplifies the complex Medicare supplement plan selection process. Our experienced Florida Medicare Supplement insurance brokers have access to the most affordable plans in your area from the nations’ most recognized insurance carriers.
Perhaps one of the most common types of private insurance that is purchased and used in combination with Medicare Part A and Medicare Part B is a Medicare Supplement Plan. Many people don’t realize this but original Medicare has gaps in coverage that can leave the Medicare policy holder significantly financially exposed. For example: Medicare Part B only pays 80% of all doctor bills and all out-patient treatment, including chemotherapy and radiation. That 20 percent financial exposure can add up really fast. A private Medicare supplement policy helps pay those gaps in coverage, particularly that 20 percent portion. However, there are a wide range of Medicare supplement plans to consider and it often takes the feedback and advice of a qualified appointed independent agent to understand the various gaps in each of the plan options available. For example; Plan F Medicare supplement (the most popular) pays all the gaps in Medicare, while other plans only pay some of the gaps. The network for Medicare supplements is the Medicare Network. However, some providers will accept Medicare payments on assignment and others can choose not to. If that provider chooses not to accept Medicare on assignment, they can balance bill you, the patient for an additional 15 percent. This is called the excess charge gap. The Medigap Plan F and Plan G are the only supplemental plans that cover this excess charge. Understanding this particular facet of Medicare coverage is crucial if you want to avoid numerous medical bills in the future.
So, regardless of the insurance company you choose, they all utilize the Medicare network. In other words, as long as Medicare pays the bill, the Medicare Supplement has to follow suit. Doctors and facilities that accept Medicare, must also accept your Medicare supplement. In other words, whatever original Medicare pays, the supplement must also pay its share. The billing procedures for Medicare supplements’ are also standardized and regulated by the Federal Government. Medicare supplements utilize a "Medicare crossover" billing system. This allows the provider’s billing departments to review payment for claims without having to manually bill each and every private Medicare supplement insurance company. All Medicare supplement benefits are standardized nationwide as well. For example, you may see quotes like this: United American Plan F at $237 per month, UnitedHealthcare Plan F at $264 per month, Mutual of Omaha Plan F is at $285 per month, Gerber Life Plan F at $273 per month. The prices vary, but the benefits are identical between companies. Given this information, you would likely choose the United American Plan F as it has the best premium. You should also choose an insurance carrier that has a long history of writing Medicare Supplement business as well as having a healthy financial status such as an A rating with A.M.Best or an A rating by Standard & Poor.
Costs of Private Medigap Policies
Different insurance companies have variations in their pricing structure for exactly the same medicare supplement coverage. People often ask me why this is so. I believe it has to do with how long that company has been writing the business. When comparing Medigap policies, if you are looking at plan F with one company, make sure you are looking at plan F with the other company. This is where an experienced Florida Medicare Supplement Agent can be very helpful. An independent appointed agent can discuss and share the subtle differences between insurance carriers and share client satisfaction over many years. Some companies raise their rates more frequently while other companies can be easier to deal on the phone when that need arises. Each insurance company sets its own premiums. Once that price is set, it will affect how much you pay now and how much you pay as the years go by. However, each company can increase or decrease their rates whenever they need to, as long as it’s approved by the state their doing business in.
If you are new to Medicare, you can't help avoid being confused by all the new insurance terms around your 65th birthday. On top of that, you’re getting tons of stuff in the mail and likely unsolicited phone calls. If you go online and request a quote, your information can and often is sold as a lead to many agents. So be careful in how you go about your search for clarity and information. It is usually best to work with a local licensed agent who has multiple years’ experience working in the Medicare supplement arena.
Call now at and speak with a Florida Medicare supplement insurance broker to help you choose the best plan by:
- Comparing Medicare Supplement insurance plans from multiple companies
- Understanding your specific needs to find a plan that's the right fit for you
- Guiding and supporting you with your present and future Medicare Supplement insurance coverage needs.