As enrollment nears, premiums on popular Medicare Advantage plans stay low in Florida

Sep. 26--Florida residents enrolled in Medicare Advantage plans will continue to pay little to no monthly premiums next year as more people flock to the program known locally for its competitive market, with providers offering "white-glove" services including such perks as Cuban coffee and bingo.

Medicare Advantage is the private component of the public program in which the federal government allocates a certain amount of funding per person per month to private insurance providers running the plans. The Centers for Medicare & Medicaid Services announced its projections on Tuesday, with Florida's average monthly premiums next year expected to tick down 7 cents to $8.38.

In South Florida, many enrolled in the plans pay no premiums at all, but that is just one cost to consumers, said Steven Ullmann, a healthcare policy expert at the University of Miami.

Though people tend to focus on premiums, Ullmann said, once you're in a Medicare Advantage plan, there are other costs, such as deductibles, co-pays and co-insurance.

"We have a lot of plans that are priced at zero in terms of trying to attract people into these plans," he said. "Then once you're in them, you have to determine things like what medications you're using and how that affects the price."

There may be help on the way for people who want to sign up for a plan but are overwhelmed with the choices.

As 2020 Medicare open enrollment approaches, starting in mid October, CMS said it has modernized and redesigned its plan finder on Medicare.gov to allow users to shop and compare Medicare Advantage plans and plans for Medicare Part D, the prescription drug benefit. Beneficiaries can begin shopping and comparing plans on the website on October 1.

Nationwide, the plans continue to be popular, with enrollment projected to increase to 24.4 million beneficiaries in 2020, up from the current enrollment of 22.2 million, out of the about 60 million people enrolled in Medicare. That represents a 30% increase since 2017.

Whether you are about to retire or are a longtime Medicare policyholder, understanding your benefits can be confusing. Miami Herald Business Editor Jane Wooldridge will moderate a conversation about Medigap policies, what they cover and cost, and what to be especially mindful of this year as we move into the Medicare / Medigap season. Panelists are: Kathy Sarmiento, Alliance for Aging; Lupe Bruneman, Medicare consultant and Maria del Carmen Ortega, Social Security Administration.

Details: 9 a.m., Sept. 28, at Coral Gables Adult Activities Center, 2 Andalusia Avenue. Attendees can valet for free across the street at The Palace. Tickets $15-$25. Information: https://bit.ly/2n1rz0X

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