Florida Medicare Insurance Plans
Medicare is a federally sponsored health insurance program available to those over the age of 65, as well as some individuals who have certain ailments and disabilities. At the state level, however, there exist specific organizations that help beneficiaries better understand the Medicare process, and Medicare recipients may even qualify to receive state subsidies, depending on their circumstances. Consider the following information if you are interested in obtaining Medicare coverage in the state of Florida.
Mini-COBRA Continuation Coverage
Fortunately, Florida employees who received insurance from their employers are granted 18 months of continuation coverage after termination, pursuant to state law. This helps employees transition into other forms of coverage while still benefiting from their employer's insurance.
Added Coverage From Florida Insurers
Upon acquiring Medicare coverage from the federal government, many beneficiaries discover that their plan doesn't cover everything they need or certain gaps exist in coverage. In order to remedy this, Medicare beneficiaries may be able to purchase additional medigap plans, also known as Medicare Supplement Insurance. Residents of Florida who are interested in Florida Medicare Insurance Plans may purchase such a plan from one of many insurers throughout the state.
High-Risk Pools in Florida
In previous years, Florida had high-risk insurance pools for those with pre-existing conditions or who had other difficulty obtaining coverage. These pools have dwindled in recent years, however, and will be officially eliminated in August 2015 due to the widespread availability of insurance provided under the Affordable Care Act (ACA).
Florida Medicare Savings Program
In some cases, qualifying Medicare beneficiaries may even be able to acquire help from the state of Florida in paying for certain costs associated with Medicare premiums. In certain circumstances, qualifying recipients may even obtain assistance with covering the costs of hospital insurance (Medicare Part A) and medical insurance (Medicare Part B), coinsurance, deductibles, and copayments. These recipients may obtain this help through a Medicare Savings Program, which is available in Florida for those who qualify.
The state of Florida offers the following four types of Medicare Savings Programs:
- Qualified Medicare Beneficiaries (QMBs): For individuals who earn less than $1,001 per month or couples who earn less than $1,348 a month, the state helps pay for premiums associated with Medicare Part A and Part B, as well as coinsurance, deductibles, and copayments.
- Specified Low-Income Medicare Beneficiaries (SLMBs): For individuals who make up to $1,197 per month or couples with monthly income up to $1,613, the state helps pay for Medicare Part B premiums only.
- Qualifying Individuals (QIs): For recipients earning up to $1,345 per month or couples earning up to $1,813 a month, the state pays for Medicare Part B premiums only.
- Qualified Disabled and Working Individuals (QDWIs): For recipients who earn up to $4,009 per month but who are working, disabled, under 65, and meet other qualifications, the state pays for Medicare Part A premiums. Couples can have monthly income up to $5,395.
Low-Income Subsidy (Extra Help) for Prescription Drugs
Certain qualifying individuals may be able to receive Extra Help from the state in the form of subsidies for prescription drugs. In general, this subsidy is equal to approximately $4,000 over the course of a single calendar year.
Other Help From the State
In order to help Medicare beneficiaries better understand the insurance system, Florida offers assistance through an organization known as Serving Health Insurance Needs of Elders, or SHINE. SHINE offers assistance to elders in the form of consultations and advice on how to navigate the system of Medicare.
Of course, Medicare beneficiaries in Florida with questions about the system should seek out help from an insurance expert. The professionals at MedicareSolutions.com can provide answers to your questions and ensure you receive the help you need.