Medicare and Medigap Blog

The majority of Medicare Insurance beneficiaries who have Medicare Supplemental Insurance pay more than they need to for the exact same coverage.

The truth is, Medicare Supplemental Insurance plans are standardized in most states*. This means that no matter which company that a Medicare Insurance recipient chooses for their Medicare Supplemental Insurance, the coverages will be the same from company to company.

Though the coverages are the same from company to company, premium rates vary depending on the company that you choose. The discrepancy on rates is determined by the experience of each insurance company and the pool of policyholders that own the same policies with that company. Other variables between companies that reflect in the premium rates include sales commissions and expected profits from the sale of these policies. These factors can add up to a difference in premium of up to $1,000 per year or more for the exact same coverage.

Most Medicare Insurance recipients could save money by switching to the same plan with another company. However, most people covered by Medicare Insurance pay more than they should for their Medicare Supplemental Insurance Plan. The reason is that they simply don’t shop around. By shopping multiple companies many could get the exact same coverage at a lower rate.

For instance, a Medicare Insurance Recipient could have an AARP Medicare Supplemental Insurance Plan J and pay a premium for this plan. Yet if this person shopped around they might see that Blue Cross Blue Shield could offer the same Plan J for a different premium. Yet if they continued shopping around to companies like American Republic or Loyal American or many other top rated companies they could realize a savings of up to $1000 per year (and sometimes even more) for the same coverage. It pays to find out how much you can save.

Not shopping around can have financial consequences as well. Many seniors and those with disabilities who are covered by Medicare Insurance earn a majority of their living from Social Security. Paying those extra Social Security earnings to an insurance company rather than saving it for themselves and their families can leave many worse off than they should be. Some even will not be able to buy food or other basic necessities because of this additional premium.

Stop throwing your hard earned Social Security earnings away. Shopping around could save you hundreds if not thousands of dollars per year.

To compare rates and plans on Medicare Supplemental Insurance in your area, simply fill out the form on the right side of this page. Or for faster service you can call and speak directly to a licensed Medicare Supplement Insurance specialist at (888) 875-4463.

*The standardized plans are lettered A-L with A being the core plan containing basic benefits and all other plans containing additional benefits. Plans F and J are the most popular and are also available with a high deductible option and plans K and L are less popular because they contain deductibles and co-insurance.


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