Article provided by: Medicare Health Experts – Florida Medicare Providers
The Medicare program results from the will to help aging citizens with the high costs of health services. As such, millions of seniors use this program to cover their healthcare-related needs. However, Medicare does not sponsor many scenarios that are vital for the average elder. That’s where medicare supplemental insurance, or Medigap policy, comes in to fill the holes left by normal Medicare.
In Florida, around 21% of the population is over 65%. This results from a surge in popularity in the state as a retirement prospect. This issues in an abundance of Florida Medigap plans available, and understanding it may feel daunting. Thus, to help you make sense of it, here are five things you must know before choosing a Medicare supplement plans in Florida.
While Medicare insurance is a federal program, Medigap is not
If you already have Medicare insurance, you will notice that it covers most of what a patient would need, but some out of pocket costs are not included. The Federal government allows private insurance companies to fulfill these needs to solve that. This creates competition between companies in popular states for retirement, with each one trying to offer the best Medicare supplement insurance available to them.
Due to Medigap being exclusive to private insurance companies, its benefits will apply in every state with fewer out-of-pocket expenses. If you chose a Florida Medigap plan and travel to Iowa, every benefit the plan includes would apply, including coverage for copays and deductibles.
Not every Medigap plan covers the same expenses
There are ten different Medigap plans, and all of them offer different benefits for the user. One may cover all skilled nursing facilities and deductibles from Medicare part A, and another may cover 80% of deductibles for plans A and B but leave out hospice coinsurance. Choosing the plan that suits you requires understanding each offer to pick one suited to your health expenses. Note that if you drop your Medicare policy, you may not be able to get it back.
You must have Medicare to be eligible for Medigap
The main requirement for buying Medigap is already possessing Medicare part A and Part B. To be eligible for any plan, you must be over 65 years of age or older or have at least one serious health condition. If you have Medicare Advantage Plan or Medicare type C, you are not eligible for Medigap.
Not every state offers every plan
You must be aware that Medicare is not the same in every state. As such, Medigap varies between each state, the most common being higher or lower premiums, with states with higher Medigap premiums covering more out-of-pocket expenses, and lover Medigap premiums covering less.
Medigap is optional
You do not require Medigap to enjoy the benefits of Medicare. Bottom line, you should get Medigap if your health expenses surpass the Medicare coverage to save money in the long run, but it is not a requirement.
To be more knowledgeable about all these plans, contact Medicare Health Experts to get a quote: 561-279-3804.