How to Compare Medigap Carriers
Every Plan G covers the exact same benefits. So why does one carrier charge $130/month and another charges $260? And more importantly — which one is actually the better deal over 10 years?
The standardization paradox
Medigap plans are standardized by federal law. A Plan G from Carrier A covers the exact same benefits as a Plan G from Carrier B. The coverage is identical. The claims process works the same way. Your doctor can't even tell which carrier you have.
So why do prices vary by 2x or more in the same state for the same plan? Because while the coverage is standardized, the pricing is not. Carriers set their own premiums based on their risk pool, operating costs, investment income, and pricing strategy.
This means carrier selection is the most consequential financial decision in your Medigap enrollment — even more than plan letter choice.
The four factors that determine long-term value
Price
Important — but only part of the picture
Today's premium matters, but the cheapest carrier today may not be the cheapest in 5 years. Carriers sometimes underprice to attract members, then raise rates aggressively once the pool is established.
Financial strength
Critical for long-term stability
AM Best ratings measure an insurer's ability to pay claims. An A+ or A++ rated carrier is far less likely to exit a market or become insolvent. This matters because you'll be on this plan for 10-20+ years.
Rate stability
The most underrated factor
A carrier's history of rate increases tells you more than today's price. Carriers with consistent 3-5% annual increases are more predictable than those with occasional 15-20% spikes. Look at SERFF filing data to see the pattern.
Market presence
A signal of commitment
Carriers with large enrollment in your state have a bigger, more diverse risk pool — which helps keep rates stable. A carrier with 50,000 members is less vulnerable to a few expensive claims than one with 500.
Three pricing methods — and you don't always get to choose
How your premium changes over time depends on the pricing method your state allows and your carrier uses.
Attained-age
Premium increases as you age. Cheapest at 65, most expensive at 85. Most common method.
Starts low, rises steadily
Issue-age
Premium locked to the age you buy. Higher at 65 than attained-age, but grows more slowly over time.
Starts moderate, rises slowly
Community-rated
Same price regardless of age. Rarest method. Most predictable long-term costs.
Flat (inflation adjustments only)
Most states use attained-age pricing. A few states (like New York, Connecticut, and Massachusetts) require community rating. Learn more about rating methods
Why the cheapest carrier today is often the most expensive in 10 years
Some carriers deliberately underprice their plans to attract new members. This works in the short term — they build enrollment quickly. But underpricing means the carrier collects less in premiums than it pays in claims. Eventually, rates have to catch up.
The result is a pattern we see repeatedly in SERFF rate filing data: a carrier offers the lowest price in year one, then files for 12-18% annual increases for the next several years. Members who chose on price alone end up paying more than they would have with a moderately-priced, stable carrier.
This is why rate stability history is more valuable than today's premium. A carrier with a 10-year track record of 3-5% annual increases gives you more cost predictability than a carrier offering a low entry price with no track record.
How MyMed360 scores carriers
We built a four-factor scoring model that balances all of these considerations. Every carrier in every state gets a composite score based on current price, AM Best financial strength, rate filing history, and market presence.
You can prioritize what matters most to you — lowest price today, maximum stability, or a balanced view — and the rankings adjust accordingly. The data comes from state Department of Insurance rate filings, AM Best financial reports, and SERFF actuarial memos.
See scored carrier rankings for your state
Enter your state and preferences — we'll show you carriers ranked by the factors that matter most.