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How Much Does Medicare Supplement Cost?

Find out what affects the cost of Medigap in your area.
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One of the most important facts to know about Medicare Supplement (Medigap) plans is the price. Since all Medigap plans have standardized benefits, price is the biggest difference between insurance companies. However, this is not such a straightforward question to answer as one might think.

For starters, there are 10 different standardized Medicare Supplement plans with different costs and coverage.

Not only that, but the following issues can affect your price:

  • The state you live in
  • The insurance company you choose
  • Age
  • Available discounts
  • Tobacco use
  • Gender

The best way to find out how much a plan costs is to get a customized quote. It takes only one minute and can factor in all the above criteria.

Get a Medigap Quote now

The price for Medigap can range from somewhere around $40 to $300. This can be even higher for under 65 disabled Medigap enrollees in states without laws to protect them.

What is the Starting Cost of the Most Popular Medigap Plans?

Below are quick estimates of what you might start paying for Medigap’s most popular plans. Remember this is just an estimate. Your price will have to factor in all the bullet points listed above. And remember, according to the Health and Human Services, the average Medigap plan increases about 4% each year.

Medigap Plan F used to be the most popular Medicare Supplement plan. You must have turned 65 before 2020 to purchase Plan F. It is the most comprehensive plan out there. The price for Plan F starts around $150 but can go as high as $300 for those who are older.

Medigap Plan G replaced Plan F as the most popular plan in the country. Plan G covers everything F covers except the Part B deductible of $198. It can start as low as $75 depending on state, age, etc.

Medigap Plan N has a lower premium than G or F and should be considered if you cannot afford the above. It does not cover the Part B deductible or the dreaded Medicare Excess Charges. Also Medigap Plan N has a $20 copay for doctor visits and a $50 copay for emergency room. It starts around $110 but could be much more in your state.

Medigap High Deductible F and High deductible G are much cheaper than all of the other plans for the simple fact that they have a deductible of $2,300. Their premium starts from as little as $40 in some states.

All the other Medigap plans like D, L and K are rarely competitively priced so you should mainly focus on the popular plans outlined above.

Please Note: Innovative Plan G and Innovative Plan F (both with same benefits as their counterpart but with additional hearing, vision and sometimes acupuncture and chiropractic coverage) are available in CA and a few other states. Their prices are usually comparable to standard F and G. We explain why below. Compare prices here.

What can affect the cost of a Medicare Supplement plan?

Like we stated above, there are many variables that can reduce or augment your premium apart from the benefits of your standardized plan. Let’s go through them in detail.

Company

Even if you enroll with one of the best Medigap companies, that doesn’t guarantee you will receive the best Medicare Supplement price. Medigap prices even at top insurance providers vary greatly from state to state. Aetna may have the lowest priced plan G in one state but Cigna may have it in another. This is largely due to market share.

The more members an insurance provider has in one area, the less risk they carry. When a company has more members, especially if they are younger and healthier, premiums can be significantly lower because they carry less risk that a few clients’ medical claims will outpace the money coming in in the form of monthly premiums. This is what happens with the new Medigap Innovative F and Innovative G mentioned above.

Location

Your area can have a major impact in your overall cost. This is mainly due to local regulations. Connecticut and New York, for example, have higher Medigap premiums than those of Texas because CT and NY have protections in place that allow members to enroll or switch plans without health reviews.

This drives up cost in those states as the providers are forced to enroll less healthy members than in Texas. As you may know, Texas (and most states, for that matter) can decline members who do not qualify for initial enrollment or special enrollment.

Tobacco use

Whether or not you are smoker can also affect the amount you pay. Tobacco users tend to pay around $15 more for their Medigap plans.

Extras and Discounts

Different Medigap companies tend to offer different discounts such as household discounts, new to Medicare discounts and even autopay discounts. These discounts can really impact what you end up paying. Contact us to find the best one for you.

When is the best time to enroll in Medigap so that I pay less?

While there is a lot of discussion about the average premium and how every variable affects it, there is none when it comes to the best period for you to enroll.

This is the period that starts 3 months before you turn 65, runs through your 65th birthday, and ends 3 months after. Enrolling when you are first eligible guarantees you will start out with the best rate. Those who delay can see their price go up when they enroll.

How can I make sure to pay the lowest rate available for me?

That is where we come in. We at Senior65 dedicate ourselves to help people enroll in Medigap, Medicare Advantage and Part plans at no additional cost. That’s right, we charge absolutely nothing for our services and guarantee the lowest price allowed by law.

We make sure you are in the best plan and best company for you, taking into account every variable described above and more. Contact us at 800-930-7956 or enroll online.

Get a Medigap Quote now Enroll in Medigap
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Josue
Guest
Josue
5 months ago

Where did you get 4% increase each year???? My plan has increased much more than that!

Senior65
Agent
Senior65
4 months ago
Reply to  Josue
Josue,
Sorry to hear your plan has increased more than the national average. Based on the latest data released by the Health and Human Services, the average increase of Medigap between 2001 and 2010 was 3.8%. Source: https://aspe.hhs.gov/system/files/pdf/76351/index.pdf .
We plan on updating this when new data is released.

Remember: Individual increases will vary based on your state, insurance provider, age and plan selected. If you are unhappy with your current rate, you have the right to change plans or switch to a no premium Medicare Advantage plan. Contact us to review your options.
Eric from Senior65.com

Debbie
Guest
Debbie
5 months ago

what if I delay Medicare part B??? Will I get the best price for Medigap when I enroll?
I am currently 67 and have coverage through my work. I plan to retire in August!!!

Senior65
Agent
Senior65
5 months ago
Reply to  Debbie
Debbie,
Since you have coverage through work, once you retire in August you will get a Special Enrollment Period to enroll. You will not have to go through medical underwriting and as always, you will be able to get the best price for you.

Give us a call once you are ready to enroll. We charge nothing for our services.
-Michelle from Senior65.com

Martin G
Guest
Martin G
5 months ago

From your Article it looks like everyone who is just turning 65 selects plan G. I’m I reading that correctly?

Senior65
Agent
Senior65
5 months ago
Reply to  Martin G
Martin,
Not everyone selects Plan G but Plan G is definitely the most popular Medigap right now. It covers everything Plan F covers (which is the most comprehensive Medigap plan) except for the Part B deductible. The monthly savings in price makes G usually a better choice. Also worth noting is that since Plan F is not available to newly eligible Medicare members as of 2020, even more people have decided Plan G is their best option.

Contact us to see if it is right for you
-Michelle from Senior65.com

We never charge for our services
We guarantee the lowest price allowed by law.

Senior65 is appointed to sell plans by carriers including:

Switch your Medigap without underwriting
Blue Shield offers Medigap without health questions for a limited time.

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Plan F covers the Medicare Part B deductible and Plan G doesn’t. But that is not the whole story.

Learn about the average costs of different Medigap plans and what can affect them, whether it is your location, age or even company.

0 0 vote
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6 Comments
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Josue
Guest
Josue
5 months ago

Where did you get 4% increase each year???? My plan has increased much more than that!

Senior65
Agent
Senior65
4 months ago
Reply to  Josue
Josue,
Sorry to hear your plan has increased more than the national average. Based on the latest data released by the Health and Human Services, the average increase of Medigap between 2001 and 2010 was 3.8%. Source: https://aspe.hhs.gov/system/files/pdf/76351/index.pdf .
We plan on updating this when new data is released.

Remember: Individual increases will vary based on your state, insurance provider, age and plan selected. If you are unhappy with your current rate, you have the right to change plans or switch to a no premium Medicare Advantage plan. Contact us to review your options.
Eric from Senior65.com

Debbie
Guest
Debbie
5 months ago

what if I delay Medicare part B??? Will I get the best price for Medigap when I enroll?
I am currently 67 and have coverage through my work. I plan to retire in August!!!

Senior65
Agent
Senior65
5 months ago
Reply to  Debbie
Debbie,
Since you have coverage through work, once you retire in August you will get a Special Enrollment Period to enroll. You will not have to go through medical underwriting and as always, you will be able to get the best price for you.

Give us a call once you are ready to enroll. We charge nothing for our services.
-Michelle from Senior65.com

Martin G
Guest
Martin G
5 months ago

From your Article it looks like everyone who is just turning 65 selects plan G. I’m I reading that correctly?

Senior65
Agent
Senior65
5 months ago
Reply to  Martin G
Martin,
Not everyone selects Plan G but Plan G is definitely the most popular Medigap right now. It covers everything Plan F covers (which is the most comprehensive Medigap plan) except for the Part B deductible. The monthly savings in price makes G usually a better choice. Also worth noting is that since Plan F is not available to newly eligible Medicare members as of 2020, even more people have decided Plan G is their best option.

Contact us to see if it is right for you
-Michelle from Senior65.com

We never charge for our services
We guarantee the lowest price allowed by law.