Facts About Medicare Supplement Plans in Florida
- Over 2.4 million Florida residents were enrolled in Medicare Part A and/or Part B in 2017, according to data from the Centers for Medicare and Medicaid Services (CMS).
- 787,681 Florida residents had a Medigap plan in 2015, according to data from America’s Health Insurance Plans (AHIP).
- Plan F is the most popular Medigap plan in Florida, with 415,156 enrollees in 2015, according to AHIP.
Medicare Supplement Insurance (also called Medigap) helps senior and disabled Florida residents pay for certain Medicare co-payments, deductibles, and other costs. Currently, insurance companies can offer state residents one of the 10 standardized Medigap plan options: Plans A, B, C, D, F, G, K, L, M, and N.
Florida Medigap enrollment statistics
According to AHIP, over 32% of Florida Medicare beneficiaries were enrolled in a Medicare Supplement insurance plan in 2015.
Certain Medigap plans are more popular than others. The chart below shows which Florida Medicare Supplement Insurance plans were most popular in 2015, according to AHIP.
| Popularity ranking | Plan | Total enrollees in 2015 |
|---|---|---|
| 1 | F | 415,156 |
| 2 | C | 71,360 |
| 3 | D | 56,208 |
| 4 | N | 56,038 |
| 5 | B | 38,856 |
| 6 | G | 14,268 |
| 7 | A | 10,359 |
| 8 | K | 6,411 |
| 9 | L | 3,996 |
| 10 | M | 132 |
| — | Old plans* | 96,159 |
| — | Pre-standardized** | 18,738 |
| *Plans no longer available for purchase including Plans E, H, I, and J.**Pre-standardized plans are policies sold before July 1992. | ||
Medicare Supplement Insurance pricing methods
Medigap pricing methods are important because they dictate how your premiums may increase in future years. There are 3 different pricing methods:
- Attained-age rated: The premium increases as you age.
- Issue-age rated: The premium is based on your age when you buy and it may increase due to inflation and other factors, but not due to your age.
- Community rated: The same premium is charged to all Medigap policyholders.
The majority of Medigap plans in Florida are issue-age rated, according to the Kaiser Family Foundation (KFF).1
Under-65 enrollment rules
Although Medicare Supplement insurance is primarily for senior citizens, it also covers disabled people and those with end-stage renal disease (ESRD).
According to the KFF, Florida Medigap insurance companies must offer at least one plan to under-65 Medicare beneficiaries who are disabled or have ESRD.2 Medigap insurers in Florida are allowed to charge under-65 policyholders different premiums from their senior policyholders. However, insurers must charge the same premium to all non-seniors.
Learn more
1 https://kaiserfamilyfoundation.files.wordpress.com/2013/04/8412-2.pdf#page=24
2 https://kaiserfamilyfoundation.files.wordpress.com/2013/04/8412-2.pdf#page=24