6 Facts About Your Medicare Supplement Plan

1. Plans are standardized

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.

2. Timing matters most

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.

3. Guaranteed issue rights

Medicare.gov describes guaranteed issue rights as situations where an insurance company can’t deny you a Medigap policy. They include your Medicare Advantage plan leaving Medicare or your area, losing employer or union coverage that pays after Medicare, leaving a Medicare Advantage plan within your first year, and your Medigap insurer going bankrupt or misleading you. Apply within 63 days after the other coverage ends.

4. How premiums are set

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.

5. 2027 limits are rising

Sources: Medicare.gov and CMS notices, October 2025 and October 2026.

Plan K and L cap your out-of-pocket costs for Medicare-covered services, while high-deductible Plans F and G trade a lower premium for a yearly deductible. Compare total yearly cost, premium plus expected out-of-pocket spending, rather than premium alone when choosing among them.

6. Some plans cover emergencies abroad

Original Medicare generally doesn’t cover care outside the U.S., Part D doesn’t cover drugs bought abroad, and Medigap Plans C, D, F, G, M, and N include a limited foreign travel emergency benefit. Some Medicare Advantage plans cover emergencies abroad; check your plan.

Medigap and drug coverage

Medigap doesn’t include drug coverage, so most people add a Part D plan. Part D has a $2,100 out-of-pocket cap in 2026, and the 2027 base beneficiary premium is $41.33.

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.

Original Medicare costs Medigap helps with

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.

Enrollment periods

Source: Medicare.gov, October 2026.

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:

1. Find the licensed agency or insurer named in the site's footer, terms, or license page.
2. Look up the agency or producer on your state insurance department's license search, or through the National Insurance Producer Registry (NIPR).
3. Look up the insurer on your state insurance department's company search to confirm it is authorized in your state.
4. 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: Compare Medigap plan benefits
• Medicare.gov: Choosing a Medigap Policy (Mar. 2026)
• Medicare.gov: Ready to buy a Medigap policy
• Medicare.gov: Medigap guaranteed issue rights
• CMS: 2027 Medigap Plan K and L out-of-pocket limits
• CMS: 2027 high-deductible Medigap Plans F, G, and J
• CMS: 2026 high-deductible Medigap Plans F, G, and J
• Medicare.gov: Travel outside the U.S.
• AARP: Does Medicare cover me outside the U.S.?
• CMS: Final CY 2026 Part D redesign program instructions
• CMS: Part D 2027 national average monthly bid information (July 2026)
• Medicare.gov: Avoid late enrollment penalties
• CMS: 2026 Medicare Parts A & B premiums and deductibles (Nov. 2025)
• Medicare.gov: Insulin
• Medicare.gov: When does Medicare coverage start?
• Medicare.gov: Joining a health or drug plan

What to have ready for a Medicare review

These details help an agent quote accurately.

1. Medicare card. Your Medicare number and Part A and B start dates.
2. Doctors. Names of doctors and hospitals you want to keep.
3. Prescriptions. Drug names, doses, and pharmacies.
4. Current coverage. Any plan, employer, or Medicaid coverage you have.
5. ZIP code. Plans differ by county.

Medicare Supplement facts FAQs

Related guides

• Medicare Advantage agents
• Medicare Supplement insurance
• Medicare Open Enrollment
• Choosing an independent Medicare agent
• Medicare Extra Help

Partner quote options

Your next step

Request a quote, and a licensed agent will compare options available to us for your situation.