Office Urges Consumers Looking to Compare Prices for Medicare Supplement Policies to Search CHOICES
TALLAHASSEE, Fla. – The Florida Office of Insurance Regulation
wants to remind consumers aged 65 or older who may be considering the purchase
of a Medicare Supplement policy (also known as Medigap) during the current
Medicare Advantage open enrollment period to
search the CHOICES system at http://www.floir.com/choices.aspx.
Medicare Supplement policies pay for medical charges and expenses such as
deductibles and co-insurance costs that Medicare does not reimburse.
Medicare Supplement tool within CHOICES allows consumers to select options and
enter specific criteria for calculating sample annual premium amounts for
participating health insurance companies offering these plans in any Florida
county. A search includes entering information about a consumer’s age, gender,
insurance type, county zip code and the type of plan.
The Office has recently incorporated revised rates
into the CHOICES system for health insurance companies representing more than
80% of the Medicare Supplement market. The
Office approved the rate filings as quickly as possible, but unfortunately some were
received too late for approval by the start of Medicare
Advantage open enrollment. Health
insurance companies providing these plans are encouraged to file their rates approximately seven weeks prior to the start of open
enrollment to give the Office adequate time for a review and analysis of the
filing. Most importantly, it helps give consumers more time to evaluate all
available options during the short timeframe they have to shop for these plans.
rates provided in the CHOICES system are for illustrative purposes only and
consumers are encouraged to contact either an insurance agent or the insurance
company for a premium quote based on their individual circumstances. The
open enrollment period began on October 15, 2015 and runs through
December 7, 2015. For more information, visit https://www.medicare.gov/publications/pubs/pdf/02110.pdf.