What are the best health insurance plans in Florida?

Health insurance is a necessity in today’s society. It protects you, your family, and your loved ones from incurring major medical expenses that you may not otherwise be able to cover. However, finding the best health insurance company can be a daunting task. The following guide will help you find the best private health insurance companies in Florida to make the process easier for you. 

Yet, before starting, we should mention that Florida’s healthcare options are considered sub-par, as the state is ranked the 34th best state for healthcare. The rating comes from a US News Study, which considered several factors, including health care access, overall public health, and healthcare quality. So, if you live in the Sunshine state, you should carefully review each private health insurance company and their levels of coverage before choosing the right one for your needs. 

Florida Health Insurance Options

According to state officials from the Office of Insurance Regulation, there are multiple ways that residents obtain health coverage. These options include:

Family or Individual Plans

• Private insurance plans are sold directly by insurance companies.
• Via Healthcare.gov

Employer-provided

• Through your own employer.
• From your spouse’s employer.

Government-provided

• Medicaid
• Medicare

Where do most Floridians get coverage?

Here are the percentages for where Floridians get their health coverage:

• Employer – 40%
• Medicaid – 18%
• Medicare – 17%
• Uninsured – 13%
• Family or Individual – 10%
• Military – 2%

Did you notice that more Floridians are uninsured (13%) than are covered by private health insurance? In fact, this is one of the highest uninsured rates in the country and is above the national average of nine percent. So, one thing to keep in mind is that when more people are uninsured, the rates may be higher for those who are insured.

Cost Factors for Florida Health Insurance

It’s estimated that the average Florida resident spends around $8,000 per year on health insurance, which is just a few dollars above the national average. Health care costs are dependent on several factors related to the individual and their family. The following are the most significant factors that influence health care costs in Florida:

Plan Type

The more coverage you have, the higher the cost for your monthly premium. So, be sure to review the deductible rules, coverage, and all options for each plan.

Body Mass Index

A higher BMI can put you at risk for severe diseases and health conditions. Providers want to know your BMI because it can help them determine your health risks, as people with higher BMIs pay higher premiums.

Age

Age is another factor that’s taken into consideration when determining health care costs. It’s estimated that older people pay three times more than young people for health insurance, which is due to the fact that older people are more likely to have a chronic condition.

Tobacco Use

Tobacco use can lead to multiple health problems, which is why tobacco users pay more for health coverage. 

Location

Each state has its own laws, health care companies, and regulations, and the Sunshine State is not an exception. Moreover, insurance rates are commonly community-regulated, which means that the number of claims filed by your neighbors may affect your monthly premium rates. In other words, your rate may increase if your area files more claims than normal. 

Who are the best private health insurance companies in Florida?

Now that we’ve discussed a little bit about health insurance in Florida and the factors that affect price, let’s discuss providers. Florida is home to many private health insurance companies that offer both individual and family plans. Here are the best private health insurance companies in Florida: 

Florida Blue

Florida Blue is a Blue Cross subsidiary that offers PPO plans. These are popular as they give you the most freedom to choose health care providers and services, which is especially beneficial for those suffering from chronic conditions. Those living on a fixed income may also like this option, as Florida Blue offers subsidiaries that may reduce the cost of your premiums.

Aetna

Aetna is credited as being one of Florida’s most affordable health insurance providers. They offer low-cost family, individual, and business policies. They also offer low-cost plans for individuals who qualify for Medicaid or Medicare and even offer student plans for those attending two or four-year universities. 

Cigna Health Insurance Florida

Cigna is another one of the best private health insurance companies in Florida. They offer affordable plans, of which four out of every five people who choose a Cigna health insurance plan also qualify for a federal subsidy to lower their premiums. These plans include free preventative care, which means you pay nothing for health screenings, vaccinations, and even certain preventive medications. Cigna also provides discounts on health clubs, gym memberships, and other resources to help maintain good health. 

Humana Health Insurance Florida

Humana Florida offers both POS and HMO plans at competitive rates. Humana plans tend to be cheapest for those over 45 years, and some of their most affordable options even cover services such as home health care. 

Other Private Health Insurance Companies in Florida

Here are some other private health insurance companies in Florida to consider: 

• AvMed, Inc.
• Blue Cross and Blue Shield of Florida
• Bright Health Insurance Company of Florida
• Celtic Insurance Company
• Florida Health Care Plan, Inc.
• Health First Health Plans
• Molina Healthcare of Florida, Inc.
• Oscar Insurance Company of Florida

The Bottom Line

It can be hard to choose between the best private health insurance companies in Florida. Some of the biggest names in the industry offer competitive plans with a wide range of benefits and services. If you’re looking for a private health insurance company that offers great customer service and a variety of options, you may want to consider a company such as Molina Healthcare or Health First. Both of these companies have a long history of providing quality health insurance to Floridians, and they’re continuing to expand in the state.