Your Medicare Supplement Plan is Standardized by Medicare

Proof that Medicare Supplement Plans are “Standardized” by Medicare:

Medicare Supplement Plans are “Standardized” by Medicare. This means that even though insurance companies charge different pricing, the coverage is exactly the same. The LETTER of the Medicare Supplement Plan determines the coverage, not the insurance company.

All Medicare Supplement F Plans offer the same coverage.

Medicare Supplement Plan F Example: AARP Medicare Supplement Plan F at $150.00 per month offers the same coverage as Cigna Medicare Supplement Plan F at $120.00 per month.

Medicare Supplement Plan G Example: Blue Cross Blue Shield Medicare Supplement Plan G at $100.00 per month offers the same exact coverage as a Mutual of Omaha Medicare Supplement Plan G for $90.00 per month.

Medicare Supplement Plan N Example: Humana Medicare Supplement Plan N at $85.00 per month offers the same exact coverage as an Aetna Medicare Supplement Plan N for $75.00 per month.

***The rates above are not actual rates, I used these rates as for the illustration. All of the insurance companies listed are great companies. The actual Medicare Supplement pricing depends on your age and zip code.

If the Medicare Supplement coverage is the same, why do some companies charge more money for the same coverage? 

Insurance companies charge different amounts for different reasons:

  • Companies have different Administration costs.
  • Companies have different profit targets.
  • Companies go through “correction periods”. This is when a company may enter the market with low rates and than due to claims they need to have drastic monthly premium increases to cover their costs.
  • Companies have different medical underwriting guidelines. Some companies will have lenient medical underwriting requirement, but than charge more monthly premium to prepare for higher anticipated claims. Some companies have really strict medical underwriting and therefore charge lower monthly premiums as they anticipate lower amount of claims.
  • Different insurance companies have different structures: Publicly Traded, Mutual Company, Non-Profit, etc…

Senior Healthcare Direct will help you get the best value for your Medicare Supplement Plan.

It is common knowledge that if you have not shopped your Medicare Supplement Plan in 3 years or more, your are most likely overpaying. Senior Healthcare Direct represents over 30 Medicare Supplement Companies, we can help you get the best value. Whether you are new to Medicare or you are looking for a better valued Medicare Supplement Plan, we can help.

Get a Free Quote: We are not a lead generating company, we are a Medicare Insurance Brokerage Firm. When you request a quote from us we do not share or sell your information to anyone. After you request a quote, you will get an e-mail and a phone call with your quotes from one of our AHIP Certified and licensed agents. To request a quote, client the image below and complete the form.

Medicare Insurance Marketplace

You can download the 2016 “Medicare and You” book from Medicare’s website:

You can download the 2016 “Choosing a Medigap Policy” from Mediare website:

NOTE: The terms Medicare Supplement and Medigap are interchangeable. 

Last Updated on July 22, 2021 by Brian Kondas