Medicare Supplement (Medigap) Cost

CMS 2024 data: average Medigap Plan G premium is $145/month at age 65, rising to $200 or more by age 75 under attained-age pricing, where your premium increases each year as you get older. Plan G is the most popular plan, covering everything Original Medicare pays except the small Part B deductible ($240 in 2024). Premiums vary significantly by state, gender, smoking status, and whether the insurer uses attained-age, issue-age, or community-rated pricing. Shopping multiple carriers in your zip code can save $50 to $100 per month for identical coverage.

Plan G covers all Original Medicare cost-sharing except the Part B deductible, making it the most comprehensive plan available to new enrollees after 2020. Plan N has lower monthly premiums but adds copays of up to $20 for office visits and up to $50 for emergency room visits, plus you remain responsible for Part B excess charges (the difference between what a doctor charges and what Medicare approves). If you see providers who accept assignment and rarely visit the ER, Plan N can save $30 to $80 per month over Plan G. Run a break-even analysis using your expected visit frequency before choosing.

The best time is during your 6-month Medigap Open Enrollment Period, which starts the first month you are both 65 or older and enrolled in Medicare Part B. During this window, insurers are legally required to sell you any plan at standard rates regardless of your health history - no medical underwriting, no pre-existing condition exclusions, no higher premiums for health issues. Outside this window, and outside specific guaranteed-issue events such as losing employer coverage or leaving a Medicare Advantage plan in its first year, insurers can deny coverage or charge you significantly more based on your health.

Attained-age pricing means your Medigap premium is based on your current age and rises each year as you get older, in addition to any general rate increases the insurer applies. It typically starts lower than issue-age or community-rated plans but can become significantly more expensive over a 20- to 30-year retirement. Issue-age pricing locks your premium to the age you first enrolled and only adjusts for inflation. Community-rated pricing charges everyone the same regardless of age. Comparing pricing methods - not just the first-year premium - is essential when choosing a Medigap plan for the long term.