In Florida, there are more than 4.6 people enrolled in Medicare, and nearly half of those Medicare beneficiaries have Medicare Advantage plans. There are 527 Medicare Advantage plans available in Florida for 2021, up from 474 plans in 2020. In addition, there are nearly a million residents of Florida enrolled in Medigap plans, and the state offers a tool through The Florida Office of Insurance Regulation that allows residents to compare Medigap plan premium costs. (Source)
Florida Medicare Insurance Trends
- 4,672,774 residents of Florida were enrolled in Medicare as of October 2020, representing more than 21% of the state’s population
- There are 527 Medicare Advantage plans available in Florida for 2021, up from 474 plans in 2020
- The average Medicare Advantage monthly premium increased from $8.05 in 2020 to $8.28 in 2021
- There are 28 Medicare Part D plans available in Florida for 2021, up from 27 in 2020
- 12 Medigap plans are offered in Florida in 2021
- Medicare spending in Florida is about 15% higher than the U.S. average
Medicare Offered in Florida
Original Medicare offers basic health insurance coverage. It is made up of Part A, which covers some inpatient care costs for hospital stays, costs associated with stays in a skilled nursing facility or hospice, and some home health services. Part B covers a portion of the costs for medically necessary services needed to diagnose or treat a medical condition, and preventive services. Original Medicare does not cover prescription drugs, dental, vision, or hearing care. Original Medicare is administered by the federal government to U.S. residents over the age of 65, while supplemental Medicare plans cover things that are not covered by Part A and Part B can be purchased from private insurance providers.
Medicare Advantage, also known as Part C, combines Original Medicare with Medicare Part D, which provides prescription drug coverage. In Florida, there are nearly 1.5 million residents with standalone Part D coverage (meaning Part D coverage outside of Medicare Advantage), representing about 32% of all Medicare beneficiaries. In Florida, there are 527 Medicare Advantage plans available in 2021, up from 474 plans in 2020.
Medicare Supplement Plans
Medicare supplement plans, also known as Medigap plans, cover healthcare costs that are not covered by Original Medicare, Medicare Advantage, or Medicare Part D. In Florida, there is a tool provided by The Florida Office of Insurance Regulation that allows residents to easily compare the premium costs of various Medigap plans. There are 12 Medigap plans available in Florida in 2021, and the number of Florida residents enrolled in a Medigap plan as of 2019 was 901,389.
Florida Medicare Enrollment
To qualify for Medicare, Florida residents must be U.S. citizens aged 65 and over or have received Social Security disability benefits for a minimum of 24 months. In Florida, 87% of Medicare beneficiaries in Florida are eligible due to age, while 13% are eligible due to a disability.
Enrollment Period Dates
The enrollment period dates for Medicare in South Carolina are the same as the enrollment dates nationwide.
Initial Enrollment Period
This is when you can sign up for a plan
- Begins 3 months before the month you turn 65
- Ends 3 months after the month you turn 65
Medicare Open Enrollment Period
This is when you can sign up for a plan, switch a plan or leave a plan
- Begins October 15th
- Ends December 7th
Special Enrollment Period
Special enrollment periods allow you to enroll outside the regular enrollment periods under specific circumstances.
General Enrollment Period
This is when you can sign up for Medicare Part A and/or Part B if you didn’t sign up when first eligible or if you’re not qualified for a Special Enrollment Period.
- Starts January 1st
- Ends March 31st
Medicare Advantage Open Enrollment Period
This is when you can switch or leave a Medicare Advantage Plan
- Starts January 1st
- Ends March 31st
Florida Enrollment Tips & Advice
- Be aware of when you are eligible for enrollment in Medicare (see above)
- Consider your specific medical needs when shopping for a Medigap plan, such as vision, hearing, or dental needs
- If you collect disability checks, you may enroll in a Medigap plan before you turn 65.
- You may use the Florida Office of Insurance Regulation’s online tool to compare the premium costs of various Medigap plans before you decide to purchase one
- Understand your coverage: Original Medicare may not be sufficient for your health and medical needs
How Do I Enroll in a Medicare Plan?
If you have any questions about Florida Medicare and your eligibility for supplement or advantage plans, speak to one of our licensed agents today. Our agents will discuss your Medicare options and help find a plan that works for you.