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The Best Medicare Plans for Florida Residents.

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     Every state is unique in how Medicare Supplement plans are priced and the quality of Medicare Advantage plans that are available.   In this article we will discuss which Medicare plans you should consider of you are researching the best Medicare Supplement Plans for Florida residents. 

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When it comes to Medicare,

Florida is unique in three ways.

  1. Florida is one of just four states that require Medicare Supplement policies is be priced using “Issue Age” standards. That means that your Medicare Supplement cannot increase in price every year just because you are older.  However, it can still go up in price due to inflation.  Expect your policy to increase in cost by 3% to 4% per year in most cases.
  2. On average, across the country, only three out of ten seniors choose a Medicare Advantage plan over keeping their Original Medicare and adding a Supplement. However, that statistic is skewed by population concentrations and average income.  Most people who choose a Medicare Advantage plan do so because they are on a limited fixed income.   Florida is one of those states with a higher than average Medicare Advantage enrollment. Still, four out of ten Floridians choose Medicare Advantage over Original Medicare.  The reasons for this are simple.
    • Medicare Advantage plans do not offer as much insurance coverage as Original Medicare plus a Supplement. So those that can afford a Supplement get one because of the better insurance coverage and
    • Medicare Supplement plans are standardized to offer the exact same coverage from state to
      Medigap Buyers Guide state and insurance company to insurance company. You are not limited to a network, you can go to any doctor.  You are not required to have a Primary Care Physician that has to approve you seeing a specialist and your maximum financial risk can be limited to zero or just a few $100s.   Medicare Advantage plans are not standardized.  They are only regulated to provide a minimum coverage that approximated Medicare Part A & B without a supplement.  You will be limited to a network and you will have a higher co-pays and deductibles with a higher total financial risk (your maximum out-of-pocket expense) when you get ill and need medical services.  Still, when you compare the quality of Medicare Advantage plans across the country, Florida has some of the best available.
  1. The third point that makes Florida unique is that the pricing structure of Medicare Supplements is very different from any other state. It is almost as if Florida Medicare Supplement prices defy the laws of economics.  In short, the plans that are priced best is Florida are Medigap Plan F, Medigap Plan N and the Medigap Plan F-HD or High Deductible.  Everyone new to Medicare in Florida should understand and price at least those three plans.

   

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Medicare and the Cost of Cancer Treatment

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This article is for both the person facing cancer today, wanting to know what to expect from their Medicare insurance as well as for the person turning 65 and weighing the pros and cons of staying with Original Medicare or moving to Medicare Advantage. Medicare and the cost of cancer treatment is written to help everyone on Medicare.  If you find this article helpful, please share.  We have also included a link to a printer friendly version so that you may save this article for your files.

For those who prefer video:  Medicare & the Cost of Cancer Treatment

I realise the article is a bit long, but the subject matter is critically important.  When first diagnosed with cancer, there is a lot going through your mind. One small part is the question of “What is this going to cost me?”  The battle with cancer can be emotionally draining without worrying or wondering about your health insurance and how it works.  This information on how Medicare handles the cost of cancer treatment is much more difficult to find and piece together than it should be.  I believe the information in this article can be a great relief, benefit, and resource for anyone about to embark on a very tough personal battle.  The information has been compiled from numerous sources including Medicare.gov and the National Cancer Society.

For those new to Medicare, this information will help you decide if you are more comfortable with Original Medicare or Medicare Advantage.  For the person who has cancer or a history of cancer, we hope the information will ease any financial uncertainty of not knowing what part of your treatment may or may not be covered by your current Medicare plan and how much out-of-pocket expense can be expected from you.

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Medicare for Florida Snowbirds

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……tips and information on Medicare for seniors that spend part of the year in Florida; our Florida Snowbirds

There are literally millions of Florida Snowbirds; people who come from all over the U.S. to spend the winter months in comfort of a warm Florida winter.  At last count, there are nearly 1.5 million Snowbirds that live part of the year in Florida and Sunbirds that move north (back to a home state) in the summer.  Palm Beach County was home (or half home) to 143,000 Florida Snowbirds and Jupiter, my home town, home to over 56,000.

Florida snowbirds are people who can live a life many others only wished, spending part of their time in a home state and moving to Florida in the winter to avoid the northern freezing temperatures and snow.  South Florida has a sub-tropical climate where we can measure the cold moments in hours, not days.  Central and Northern Florida are not as warm, but compared to New York, New Jersey, Pennsylvania, Virginia, Maryland, Indiana and other northern states, it’s a warm winter paradise.

Unfortunately, with two homes comes some confusion when it’s time to sign-up for Medicare. We hear the same very important questions time again; can I get Medicare from any state I live in?  Does Medicare cover me in both states?  If Medicare Supplements in one state are cheaper, can I purchase my supplement there and use it in Florida?  How does Medicare Advantage work when you live in two states?

With this article I will answer those questions and more on Medicare for Florida Snowbirds.  There are multiple features and rules with Medicare that are critically important to those who live the life of a seasonal nomad.  Unfortunately, few agents and brokers have the experience of working with Snowbirds and I have seen and heard of incorrect information and advice that has caused harm to the people who look to an insurance professional for advice and guidance.

Why Are Florida Medicare Supplement Plans So Expensive?

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How Floridians Save On Medicare Supplement Insurance

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Save on Medicare Supplement PlansMedicare beneficiaries in Florida have the same Medicare Supplement and plan choices as seniors in most states.  However, because Medicare Supplement plans in Florida are priced “as issued” instead of by age, they are significantly more expensive than most other states.  This throws the pricing metric off so that plans that are the best value in other states are a poor value in Florida.  It’s also why only 30% of people in Florida turning 65 choose Medicare Advantage plans, a slightly higher percentage than the national average. In this article, we show some tips and tricks for How Florida residents save on Medicare Supplement insurance plans.

No matter where you live in Florida, there are three main Medicare Supplement plans that you should consider.  For each plan, the prudent consumer will compare the plan features as well as prices. Those plans are Medicare Supplement Plan F, Medicare Supplement Plan N and Medicare Supplement Plan F-HD (high deductible).

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Is Medigap Plan F the Best Supplement?

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Seniors-CoupleAIs Medigap Plan F the Best Supplement? For most Medicare beneficiaries the selection of Medigap Plan F over other choices appeared to be a no-brainer.  With Plan F, a Medicare beneficiary could expect that all covered Medicare services and procedures will be paid for by either Medicare or the Supplemental insurance company.  Other than the plan premiums,Medigap Plan F there should be no other out-of-pocket expenses.   Most sales reps were happy to oblige and even today sell Plan F when asked because it’s the easy thing to do.  Of course, it doesn’t hurt that the comprehensive coverage of Medigap Plan F means higher premiums which equate to higher commissions for the salesperson.  As a result, Medicare Supplement Plan F is by far the most popular Medigap Plan used by seniors in the United States.  In fact, a survey conducted in 2010 showed that 40% of all Medigap Plans held were Plan F. While the Medigap Plan F coverage is comprehensive, price wise Plan F is not always the best value.

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Medigap Plan F-HD for Florida Seniors

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Which Medicare Supplement Plan?Whether you are just turning 65 and looking at your Medicare options for the first time, or you have been on Medicare for some time and want to lower your cost while keeping the service and benefits you are used to, seniors in Florida face the same tough decisions as seniors anywhere in this country.  However, the way Medicare Supplement plans are priced, the Medigap Plan F High Deductible makes sense for Florida Seniors.

A survey of insurance professionals in Florida revealed Medigap Plan F-High Deductible (Plan F-HD) as the plan they will or are using for their Medicare.  Shockingly, they admitted to not showing this plan to clients because the commission is too low. And yet, the annual maximum out-of-pocket limit on Medigap Plan F-HD is LESS than the required annual premium of Medigap Plan F or Plan for most Florida seniors.

With a Plan F-HD you can lower your monthly premiums to just $50-$70 and have an annual maximum out-of-pocket limit that is $2,180; less than the annual premium for most Medigap Plan F coverage!

Watch a 10-minute Video on Plan F-HD:  Watch Video Now

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Here is an example to illustrate the value of Plan F-high deductible:

A Medicare Plan F may cost a 65-year old in Florida $2,705 per year in annual premium.  It covers 100% of Medicare expenses not covered by Original Medicare Parts A & B. It has no deductible.

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