How to help in our life with florida medicare supplement
When choosing a Medigap insurance provider, always give yourself plenty of time to shop around so that you can find the lowest premiums. The truth is, regardless of what the brochures might say, all Medigap plans necessarily have to offer all the benefits promised under the individual bundles, regardless of the insurance company you choose. Therefore any extra you pay is just service charges, which is definitely to be avoided.
If you are in your late fifties or early sixties then it is essential to start thinking about Medicare plans. Florida residents need to consult their primary care physician or insurance agent to find out when the next annual Medicare open enrollment starts. Remember, there are significant penalties that can cut into your retirement income unless you sign up for Medicare in time, which is either three months before or after your sixty fifth birthday.
However, in addition to Medicare Parts A and B, it is also a good idea to look into the possibility of a Medicare supplement to cover other possible health related expenditures. The two main Medicare Supplement plans are MediGap and Medicare Advantage.
If you sign up any time before your birthday, your coverage will start the month you turn sixty five. Else it will start only the next month. However, whatever you do, try not to delay more than three months after your 65th birthday as you may have to wait for as long as six months before the coverage starts in such cases.
MediGap
MediGap is definitely a popular Florida Medicare Supplement and offers 10 separate bundles of benefits, each with a letter designation. It is therefore essential to go over the various plans carefully with your insurance agent before choosing one. For example, if you are planning on travelling extensively during your retirement, you definitely need to look into a Medigap plan that covers international travel. Not all of the, do.
Medicare Advantage
Though probably not as popular a Florida Medicare Supplement as MediGap, Medicare Advantage is quite popular among a significant section of the population (almost a quarter of the elderly in the state decide to enroll for Florida Medicare Advantage).
Florida Medicare Advantage plans combine all the coverage available under the various Medicare plans (A, B, D etc.) into a single all inclusive package. What’s more, it is also generally less expensive that the Medigap plans. However, you should take care before opting for a Medicare Advantage plan, since almost all of the plans cover only a specific geographical area. Moreover, you should also check whether your doctor is a participant.