Medicare guide
What Medicare Supplement Insurance Costs
The cost of Medicare Supplement insurance varies more than most people expect. The same plan letter can have very different premiums from company to company, and the way an insurer sets prices affects how your premium changes over time. Rather than quote averages that may not apply to you, this guide explains what drives price so you can compare real quotes.
Blake Insurance Group is an independent agency serving clients by phone, email, and online in states where we are licensed; coverage depends on the insurer, the policy, and underwriting.
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What drives the premium
- Plan letter: plans with more coverage cost more.
- Pricing method: community, issue-age, or attained-age rating.
- Age and sex: used in most rating methods.
- Location: premiums differ by ZIP code and state.
- Tobacco use: some insurers charge more.
- Discounts: some insurers offer household discounts.
- When you buy: outside open enrollment, health can affect eligibility and price.
How pricing methods affect you
Medicare’s guide describes three ways insurers set Medigap premiums: community-rated, where generally everyone pays the same regardless of age; issue-age-rated, based on your age when you buy; and attained-age-rated, based on your current age, so premiums rise as you get older. Premiums for the same plan letter can differ widely between companies, so compare several.
Your total Medicare budget
| Item | 2026 amount |
|---|---|
| Part A hospital deductible | $1,736 per benefit period |
| Part A coinsurance, days 61–90 | $434 per day |
| Skilled nursing facility, days 21–100 | $217 per day |
| Part B standard premium | $202.90 per month |
| Part B deductible | $283 per year |
| Part D deductible (maximum) | $615 |
| Part D out-of-pocket cap | $2,100 |
| Insulin | No more than $35 for a month’s supply |
Sources: CMS (Nov. 2025, Apr. 2025) and Medicare.gov. 2027 Part A and B amounts had not been announced as of Oct. 22, 2026; CMS usually publishes them in mid-November. Higher-income beneficiaries pay more for Parts B and D.
Add your Medigap premium and a Part D premium to the Part B premium to see your monthly total.
Lower-premium plan options
| Plan | Covers the Part B deductible? | Notes |
|---|---|---|
| Plan G | No ($283 in 2026) | Covers other Part A and B cost sharing in the standard benefits; Part B excess charges covered |
| Plan N | No | Copays of up to $20 for some office visits and up to $50 for some ER visits; doesn’t cover Part B excess charges |
| High-deductible Plan G | No | Pays after a yearly deductible: $2,950 in 2026, $3,050 in 2027 |
| Plan K | No | Pays a share of costs; out-of-pocket limit $8,000 in 2026, $8,360 in 2027 |
| Plan L | No | Pays a larger share; out-of-pocket limit $4,000 in 2026, $4,180 in 2027 |
| Plan F | Yes | Only for people eligible for Medicare before 2020 |
Based on Medicare.gov’s Medigap benefit chart and CMS notices. Check the plan chart for full benefits.
2026 and 2027 figures
| Item | 2026 | 2027 |
|---|---|---|
| Plan K out-of-pocket limit | $8,000 | $8,360 |
| Plan L out-of-pocket limit | $4,000 | $4,180 |
| High-deductible Plan F, G (and J) deductible | $2,950 | $3,050 |
Sources: Medicare.gov and CMS notices, October 2025 and October 2026.
Buying at the right time
Your best time to buy is the six-month Medigap Open Enrollment Period, which starts the first month you have Part B and are 65 or older. During it, insurers can’t refuse to sell you any policy they offer or charge more for health problems. Outside it, insurers in most states can use medical underwriting unless you have a guaranteed issue right, such as when your Medicare Advantage plan leaves your area, employer coverage that pays after Medicare ends, or you leave a Medicare Advantage plan within your first year. You generally must apply within 63 days after the other coverage ends.
How to compare quotes
- Compare the same plan letter across companies.
- Ask which pricing method each company uses.
- Ask about recent rate increases.
- Ask about household or other discounts.
- Check the company’s financial strength and complaint record.
Medigap basics
Medigap policies are standardized and sold by private insurers to help pay Original Medicare’s deductibles, coinsurance, and copays. The lettered plans are A, B, C, D, F, G, K, L, M, and N, and a plan with the same letter has the same basic benefits from any company. Plans C and F aren’t available to people new to Medicare on or after January 1, 2020; Plans D and G offer the same benefits except the Part B deductible. Medigap doesn’t work with Medicare Advantage and generally doesn’t include drug coverage, so most people pair it with a Part D plan.
Enrollment periods
| Period | When | What you can do |
|---|---|---|
| Initial Enrollment Period | 7 months around your 65th birthday month | Sign up for Parts A and B, and join a plan |
| Annual Open Enrollment | October 15 – December 7 | Join, switch, or drop Medicare Advantage or drug plans; coverage starts January 1 |
| Medicare Advantage Open Enrollment | January 1 – March 31 | One change: switch MA plans or return to Original Medicare (and add a drug plan) |
| General Enrollment Period | January 1 – March 31 | Sign up for Parts A and B if you missed your IEP; penalties may apply |
| Special Enrollment Periods | After qualifying events | For example, moving or losing employer coverage |
| Medigap Open Enrollment | 6 months from the first month you have Part B and are 65+ | Buy any Medigap policy sold in your state without health questions |
Source: Medicare.gov, October 2026.
Avoiding penalties
Medicare charges late penalties if you delay without other qualifying coverage. Medicare.gov says the Part B penalty is 10% for each full 12-month period you could have had Part B but didn’t, usually for as long as you have Part B. The Part D penalty is 1% of the national base beneficiary premium for each month without creditable drug coverage after a 63-day gap; the base premium is $38.99 in 2026 and $41.33 in 2027. You can generally delay Part B without penalty if you have group coverage from current employment, and sign up within eight months after that coverage or employment ends.
Checking a plan and insurer
- Networks. Confirm your doctors and hospitals are in the plan’s network.
- Drugs. Check each prescription on the plan’s formulary and its tier.
- Costs. Compare premiums, deductibles, copays, and the out-of-pocket maximum.
- Agent license. Confirm the agent is licensed in your state through your state insurance department.
- Star Ratings. Review the plan’s rating on Medicare.gov’s Plan Finder.
What an independent agency does
An independent insurance agency is licensed to sell policies from several insurance companies. Instead of quoting one company's products, an independent agent can compare options from the insurers the agency represents, explain the differences in coverage, and help you re-shop at renewal. The insurance company, not the agent, makes underwriting and claim decisions.
Blake Insurance Group is an independent agency. We work with clients by phone, email, and online in states where we are licensed, and we will tell you which insurers we can quote for your situation.
How we work
Blake Insurance Group serves clients by phone, email, and online in states where we are licensed. The insurers and plans we can offer depend on our appointments and your location; a company named on this page may not be available through us.
How to verify an insurer or agency
Before buying through any website or app, confirm who is selling you the policy and who will issue it:
- Find the licensed agency or insurer named in the site's footer, terms, or license page.
- Look up the agency or producer on your state insurance department's license search, or through the National Insurance Producer Registry (NIPR).
- Look up the insurer on your state insurance department's company search to confirm it is authorized in your state.
- Save the insurer's name and policy number once issued, since that is who handles claims.
A legitimate service will make this information easy to find. Be cautious if you cannot identify the licensed entity.
Sources
We checked the facts on this page against the sources below in October 2026. Plans, prices, and rules change, so confirm current terms before you buy.
- Medicare.gov: Choosing a Medigap Policy (Mar. 2026)
- Medicare.gov: Compare Medigap plan benefits
- Medicare.gov: Ready to buy a Medigap policy
- Medicare.gov: Medigap guaranteed issue rights
- CMS: 2026 Medicare Parts A & B premiums and deductibles (Nov. 2025)
- CMS: Final CY 2026 Part D redesign program instructions
- Medicare.gov: Insulin
- CMS: 2026 high-deductible Medigap Plans F, G, and J
- CMS: 2027 high-deductible Medigap Plans F, G, and J
- CMS: 2027 Medigap Plan K and L out-of-pocket limits
- Medicare.gov: When does Medicare coverage start?
- Medicare.gov: Joining a health or drug plan
- Medicare.gov: Avoid late enrollment penalties
- CMS: 2026 Part D bid information (July 2025)
- CMS: Part D 2027 national average monthly bid information (July 2026)
What to have ready for a Medicare review
These details help an agent quote accurately.
- Medicare card. Your Medicare number and Part A and B start dates.
- Doctors. Names of doctors and hospitals you want to keep.
- Prescriptions. Drug names, doses, and pharmacies.
- Current coverage. Any plan, employer, or Medicaid coverage you have.
- ZIP code. Plans differ by county.
Cost of Medicare Supplement insurance FAQs
How much does Medicare Supplement insurance cost?
It depends on plan letter, age, location, pricing method, and company. Get quotes for your ZIP code.
Why do Plan G prices differ so much between companies?
Benefits are standardized, but each company sets its own rates and pricing method.
Do Medigap premiums go up with age?
With attained-age pricing, yes. Issue-age and community-rated policies aren’t based on your current age, though rates can still rise.
What is the cheapest Medigap plan?
Plans with more cost sharing, such as high-deductible G, K, and L, usually have lower premiums.
Related guides
Partner quote options
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- Wellcare Medicare plans (online enrollment): View Wellcare Medicare Advantage and prescription drug plans available in your ZIP code and enroll online with Blake Insurance Group as your agent.
Important information
Compensation. Links in the partner section of this page are sponsored, and Blake Insurance Group may be paid if you make a purchase. Sponsored placement does not affect the other information on this page.
Independent agency. Blake Insurance Group LLC is an independent insurance agency. Licensed insurance producer NPN 16117464. Licensed states: AZ, AL, TX, CA, NY, OH, FL, NC, VA, GA, OK, NM, IA, KS, MI, NE, SC, SD, WV, IL, NJ, PA, TN, and WA. Which insurance companies we can quote depends on our current appointments, the product, and your state. Mentioning a company on this page does not mean we represent it.
Medicare disclaimer. We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov, 1-800-MEDICARE (TTY users 1-877-486-2048), or your local State Health Insurance Assistance Program (SHIP) to get information on all of your options.
Medicare figures. Costs, limits, and rules on this page were checked against CMS, Medicare.gov, and the other listed sources in October 2026. 2027 Part A and B amounts had not been announced. Confirm current figures at Medicare.gov.
Coverage terms. Descriptions are general. The policy contract controls what is covered.
Availability. Coverage, prices, and eligibility vary by company, state, and applicant, and are subject to underwriting. The issued policy controls.
Your next step
Request a quote, and a licensed agent will compare options available to us for your situation.
