How to Compare Medicare Supplement Insurance Companies
When comparing Medicare Supplement companies, don’t compare benefits first—compare the same standardized plan across insurers.
How to Lower Your Medicare Supplement Premium
Last Modified: 10/05/2026 | Reviewed by Keith Armbrecht (NPN 634015)
Quick Summary
One of the best ways to potentially lower your Medicare Supplement premium is to compare the same standardized plan across multiple insurance companies.
The medical benefits of a standardized Plan G are the same regardless of which insurer sells it, but premiums can differ substantially.
Other ways to potentially reduce costs include evaluating available household discounts, reviewing your plan choice and, when appropriate, applying to switch companies.
Key Facts
- Medigap premiums vary by insurer.
- The same standardized plan can have very different premiums.
- Compare your current rate with other companies periodically.
- Household discounts may be available.
- Payment-method discounts may exist with some carriers.
- Plan N may cost less than Plan G.
- High Deductible Plan G may cost substantially less than regular Plan G.
- Switching plans can change your benefits.
- Switching companies may require medical underwriting.
- State switching protections vary.
- Don’t cancel existing coverage until replacement coverage is approved.
- The cheapest premium today isn’t always the best long-term decision.
Strategy #1: Compare the Same Plan Letter
Suppose you currently have Plan G.
Before changing benefits, compare:
Plan G vs. Plan G
across multiple insurers.
Because standardized Plan G medical benefits are the same, this can potentially reduce your premium without changing standardized benefits.
Strategy #2: Check Available Discounts
Some insurance companies offer discounts such as:
- Household discounts
- Spousal discounts
- Automatic payment discounts
- Other carrier-specific discounts
Eligibility varies.
Strategy #3: Compare Plan G With Plan N
If Plan N is significantly less expensive, accepting its additional cost sharing may make financial sense.
For example:
Plan G: $180/month
Plan N: $145/month
Difference:
$35/month
That’s:
$420 per year
in premium savings.
Then compare those savings with Plan N’s potential office and ER copays and its lack of Part B excess-charge coverage.
Strategy #4: Consider High Deductible Plan G
In markets where regular Plan G is expensive, High Deductible G can sometimes substantially reduce monthly premiums.
But you’re accepting considerably more upfront financial exposure.
Compare total annual risk—not merely the monthly premium.
Strategy #5: Shop After a Rate Increase
A premium increase is a good reason to check whether your current plan remains competitive.
But don’t automatically switch because of one increase.
Your current rate may still be excellent compared with the market.
The Medical Underwriting Issue
Outside protected enrollment situations, changing Medigap policies can involve medical underwriting depending on your state.
That means lowering your premium may depend partly on whether you’re eligible for another policy.
Video Explanation from Keith
How to Lower Your Medicare Supplement Rate
Keith's Take
This is something we’ve done for Medicare clients for years.
If your Plan G becomes expensive, my first question isn’t:
“Should we move you to Plan N?”
My first question is:
“Can we find the same Plan G benefits for less money?”
If we can lower the rate without changing your standardized benefits, that’s usually the first comparison I want to make.
Then we can evaluate Plan N or High Deductible G if the savings are meaningful.
Keith Armbrecht
Medicare on Video
Frequently Asked Questions
Q. Can I get the same Plan G benefits for less?
A. Potentially. Standardized benefits are the same, but company premiums can differ.
Q. Can I change Medigap companies?
A. You can apply, but medical underwriting may apply outside protected situations.
Q. Does switching carriers change my Plan G benefits?
A. If you're replacing one standardized Plan G with another standardized Plan G, the standardized medical benefits remain the same.
Q. Can Plan N save money?
A. Potentially, but you're accepting additional cost sharing.
Q. What about High Deductible G?
A. It can substantially lower premiums in some areas but increases your potential out-of-pocket exposure.
Q. Can household discounts lower premiums?
A. Some companies offer them.
Q. Should I cancel my current plan before applying?
A. No. Obtain approval for replacement coverage first.
Official Government Sources
Explore Related Guides
What Is the Best Medicare Supplement Plan? How to Decide
There isn’t one Medicare Supplement plan that’s best for everyone. For people newly eligible for Medicare today, the three options I most often want compared are: Plan G, Plan N
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See If You Can Lower Your Medigap Premium
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