How to Compare Medicare Supplement Insurance Companies

Step 1: Decide Which Plan You Want

First compare:

Plan G

Plan N

or another Medigap option.

Don’t compare:

Company A Plan G

with:

Company B Plan N

and assume the premium difference comes from the insurance company.

Those are different benefit designs.

Step 2: Compare the Same Plan Across Companies

Suppose three insurers offer Plan G:

Company A: $145/month

Company B: $170/month

Company C: $205/month

The standardized Plan G medical benefits are the same.

Annual premium difference between A and C:

$720 per year

That’s why comparison matters.

Step 3: Look for Discounts

Ask whether the insurer offers:

• Household discount
• Spousal discount
• Automatic-payment discount
• Other available discounts

A 5%–15% discount can materially change the comparison.

Step 4: Understand the Rating Method

Ask whether the policy is:

Community-rated

Issue-age-rated

or:

Attained-age-rated

The rating method can influence how age affects future premiums.

Step 5: Consider Rate History

Past increases don’t guarantee future increases.

But reviewing available historical rate information can still provide useful context.

The lowest introductory premium isn’t always the lowest long-term cost.

Step 6: Evaluate Financial Strength and Service

Consider:

• Company financial ratings
• Claims administration
• Customer service
• Billing reliability
• Ease of communication

Step 7: Understand Underwriting

If you’re outside your protected Medigap enrollment period, companies may have different medical underwriting standards depending on your state.

One company may accept a health condition that another doesn’t.