Florida Medicare Supplements

 All Medigap policies must follow federal and state laws designed to protect you, and it must be clearly identified as "Medicare Supplement Insurance." Medigap companies in most states can only sell you a "standardized" policy identified by the letters A through N. Each standardized Medigap policy must offer the same basic benefits, no matter which insurance company sells it. Cost is usually the only difference between the Medigap policies with the same letter sold by different insurance companies.

• You must have Medicare Part and Part B.
• If you have a Medicare Advantage Plan, you can apply for a Medigap policy, but make sure you can leave the Medicare Advantage Plan before your Medigap policy begins.
• You pay the private insurance company a monthly premium for your Medigap policy in addition to the monthly Part B premium that you pay to Medicare.
• A Medigap policy only covers one person. If you and your spouse both want Medigap coverage, you'll each have to buy separate policies.
• You can buy a Medigap policy from any insurance company that's licensed in your state to sell one.
• Any standardized Medigap policy is guaranteed renewable even if you have health problems. This means the insurance company can't cancel your Medigap policy as long as you pay the premium.
• Some Medigap policies sold in the past cover prescription drugs, but Medigap policies sold after January 1, 2006 aren't allowed to include prescription drug coverage. If you want prescription drug coverage, you can join a Medicare Drug Plan (Part D)
• It's illegal for anyone to sell you a Medigap policy if you have a Medicare Advantage Plan