Best Medicare Supplement Plans in Florida

See popular plan types, top companies and price comparisons for Medigap policies in Florida.
May 6, 2022

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Florida has over 4.8 million Medicare beneficiaries — it’s second only to California for total Medicare members

. Of those, about 2.3 million have Original Medicare (Part A and Part B).

Floridians with Medicare Part A and Part B can purchase Medicare Supplement Insurance, or Medigap, to help cover certain out-of-pocket expenses like copays, coinsurance and deductibles left over after Medicare pays for covered services. More than 900,000 Floridians had Medigap coverage at the end of 2020

.

Here’s what you need to know about finding the best Medigap policy for you in Florida.

Most popular Medicare Supplement Insurance plan types in Florida

There are 10 standard Medigap plan types available in Florida (Plan C and Plan F aren’t available for new Medicare members), but enrollment is concentrated in just a handful of plans. The three most popular plan types cover nearly 80% of Florida’s Medigap members.

These are Florida’s three most popular Medicare Supplement Insurance plan types

:

  • 60% have Medigap Plan F — the most comprehensive coverage of any Medigap plan.

  • 10% have Medigap Plan G — the highest-coverage option available to new Medicare members.

  • 9% have Medigap Plan N — a plan with lower premiums but higher copays.

Nerdy tip: Medigap Plan F isn’t available to Medicare beneficiaries who became eligible for Medicare on or after Jan. 1, 2020. Medigap Plan G is the most similar option that’s available to all Medicare beneficiaries.

Top Medicare Supplement Insurance companies in Florida

Medigap plans are regulated by the government, but they’re sold by private insurance companies. Here are Florida’s five most popular Medicare Supplement Insurance companies as of the end of 2020

:

Insurance company

Share of Florida Medigap members

54.9%.

19.2%.

3. United American Insurance Company

10.7%.

4. Bankers Life

5%.

1.4%.

*Florida Blue is an independent Blue Cross Blue Shield company.

Medicare Supplement Insurance prices in Florida

It’s worth comparing companies to find the lowest price for your chosen plan. The benefits of each Medigap plan are standardized, so you get the same Medicare benefits regardless of the company you choose.

Here are prices for Medigap Plan G and Plan N, the most popular plans available for new Medicare members, from the five Medigap companies with the most members in Florida.

The table below shows price quotes for a 65-year-old female nonsmoker in Jacksonville, Florida, according to the Florida Office of Insurance Regulation’s Medigap rate database

. (Note: Some Medigap prices may be higher for males.)

Insurance company

Plan G monthly premiums

Plan N monthly premiums

Bankers Life

$176.29.

$141.43.

AARP/UnitedHealthcare

$179.83.

$147.64.

Florida Blue

$193.60.

$182.60.

Humana

$198.85.

$158.86.

United American Insurance Company

$257.92.

$165.17.

For reference, here are the lowest premiums available from any company for the two plans in Florida, according to the Medicare plan finding tool

:

  • Medigap Plan G: $170 per month.

  • Medigap Plan N: $132 per month.

Medicare resources in Florida

Medicare Supplement Insurance providers

Get more information about some of the major health insurance companies that sell Medigap plans. Use Medicare’s plan finding tool or check the companies’ websites to see plan options in your location.

Compare Medicare Supplement Insurance providers

Complaint rate: 67% worse than the market average.

Service area: 43 states.

Percent of premiums spent on benefits: 75.6%.

Complaint rate: 63% better than the market average.

Service area: 50 states and Washington, D.C.

Percent of premiums spent on benefits: 71.7%.

Complaint rate: 24% worse than the market average.

Service area: 16 states.

Percent of premiums spent on benefits: 68.6%.

Complaint rate: 0.4% better than the market average.

Service area: 50 states and Washington, D.C.

Percent of premiums spent on benefits: 72.6%.

Complaint rate: 40% worse than the market average.

Service area: 48 states and Washington, D.C.

Percent of premiums spent on benefits: 75%.

Complaint rate: 335% worse than the market average.

Service area: 49 states, Washington, D.C., and Puerto Rico.

Percent of premiums spent on benefits: 77%.

Complaint rate: 62% better than the market average.

Service area: 49 states and Washington, D.C.

Percent of premiums spent on benefits: 71.4%.

Complaint rate: 50% better than the market average.

Service area: 45 states and Washington, D.C.

Percent of premiums spent on benefits: 71.7%.

The average percent of premiums spent on member benefits across all Medigap insurance companies is 72.3%

. The minimum required by law for individual Medigap policies is 60%.

Find the right Medicare Supplement Insurance plan

Because Medigap plans are standardized, you can get precisely the same Medicare benefits from any company offering the plan. So when you shop, keep these considerations in mind to find the best policy to fit your needs:

  • Is your preferred plan available? Health insurance companies don’t always sell every plan, so check who sells the plan you want to buy in your area.

  • What are the premiums? Prices for the same plan can vary between companies, so check to find the most competitive rates.

  • Will your premiums change over time? Most policies cost more as you age, but some companies offer policies that let you lock in a price when you sign up.

  • Are there extras? Medigap plans’ core benefits are standardized, but in certain cases, some companies include such perks as discount programs or gym memberships.

If you have additional questions about Medicare, visit Medicare.gov or call 800-MEDICARE (800-633-4227, TTY 877-486-2048).

Looking for more insurance in Florida? Check out these resources:

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