New data shows cost of Medicare decreases in Florida

Julie Fuschino works at the Farmer’s Market in Downtown Fort Myers to earn a little extra money for her family.

Her husband is on medicare, which is a federal health insurance program for people aged 65 or older.

“Medicare is necessary, but to have it at a lesser cost would be great,” Fuschino said. “It’s almost $140 a month coming out of your personal budget.”

But the cost of Medicare is actually going down in Florida, according to new data from HealthMarkets, an insurance company.

“It makes you feel good,” Paul Argus said, a sales manager of HealthMarkets.

LINK: Medicare Advantage Costs Index

Argus works in Collier County and said the savings come from a number of factors.

“Part of that is because there is more competition in the area this year,” Argus said.

According to that report, Florida saw a drop of about $450 compared to 2018, which translates to a 7.44 percent decrease.

Paul Argus, who is a sales manager of HealthMarkets, in his office on Thursday. Photo Credit: WINK News.
Paul Argus, who is a sales manager at HealthMarkets, in his office on Thursday. Photo Credit: WINK News.

The average cost of a Medicare Advantage Plan that is.

In fact, Florida ranked number five out of all the states for the biggest decrease in Medicare Advantage Plan costs.

Another example of savings?

“Even urgent care, with one company, it’s a $40 copay today,” Argus said. “In January, it’s going to drop to $15.”

Savings that help folks like Fuschino.

“Because your income is stabilized with Social Security,” Fuschino said. “That’s not going up rapidly.”

As she prepares to sign up for Medicare 18 months from now.

Reporter:Channing Frampton
Writer:Michael Mora