Florida Seniors Face Range in Pricing For Medicare Supplement Insurance

Florida seniors benefit from some of the lowest costs for Medicare insurance options according to the 2020 Medicare Insurance Price Index released by the American Association for Medicare Supplement Insurance.

The findings reveal a difference between the lowest and highest rates available in major Florida metro areas.  The difference could be as much as a 43 percent   A male turning age 65 in Tampa can pay as little as $162.89-per-month for Medigap Plan G coverage.  In Miami the lowest cost available would be $232.22.  The highest cost for virtually identical coverage would be over $360-per-month.

The analysis of 2020 Medigap pricing for top cities examined rates for Plan G.  According to the American Association for Medicare Supplement Insurance this is the most common choice for those turning 65 who opt for supplemental Medicare insurance coverage.

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"Prices are set by the individual insurance companies and there can be a significant difference between the lowest and the highest cost for every Zip Code," Slome notes.

Florida Medigap Plan G 2020 Price Index Findings

Jacksonville, Florida (Zip 32210)
FEMALE turning 65, Plan G
Lowest monthly premium: $156.39
Highest monthly premium:  $205.00

MALE turning 65, Plan G
Lowest monthly premium: $162.89
Highest monthly premium:  $236.00

Miami, Florida (Zip 33128)
FEMALE turning 65, Plan G
Lowest monthly premium: $222.99
Highest monthly premium:  $313.34

MALE turning 65, Plan G
Lowest monthly premium: $232.22
Highest monthly premium:  $360.34

Tampa, Florida (Zip 33647)
FEMALE turning 65, Plan G
Lowest monthly premium: $156.39
Highest monthly premium:  $194.37

MALE turning 65, Plan G
Lowest monthly premium: $162.89

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Highest monthly premium:  $222.53

The Association posts information on the 2020 Medicare Supplement Plan G Price Index findings for many cities on their website.  "Consumers can also read savings tips," Slome adds.  The insurance advocate notes that household discounts may be available for Florida seniors.  "The percentage savings can vary from three percent to as much as seven percent for Florida applicants," he explains.

The Association offers an online directory to find Florida Medicare insurance agents located by Zip Code.  "The directory is free to use and completely private.  The Association does not gather any personal information," Slome shares.

The American Association for Medicare Supplement Insurance (AAMSI) is an advocacy and informational organization.  AAMSI supports insurance professionals who market Medicare Supplement insurance.

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