The short answer
Medigap premiums generally increase over time — that's normal, driven by age, inflation, and the plan's pricing method. But a rate increase doesn't mean you're stuck. Because Medigap benefits are standardized, you can often switch to the same plan letter with a different insurer for a lower premium, keeping identical coverage.
The one thing to understand before you switch is that shopping outside a guaranteed-issue window usually means answering health questions.
Why premiums rise — and your options
Premiums climb for a few reasons: some plans are priced to rise as you age, and all face medical inflation. When yours jumps, you have options — stay put, or shop the market for the same plan letter at a better rate. Since a Plan G is a Plan G everywhere, moving carriers can cut your cost with no change in coverage. Our guide to Medigap pricing methods explains why identical plans can be priced so differently.
The catch: unless you have a guaranteed-issue right, a new insurer can require medical underwriting, so your health affects whether you qualify and at what rate.
How to shop the right way
Start by comparing your current plan letter across insurers to see the real savings available. If you're in good health, you may easily qualify for a lower-priced version of the same coverage. If your health has changed, weigh whether you'll pass underwriting before dropping your current plan.
Don't cancel your existing coverage until the new plan is approved and in place. Our Medicare Supplement overview explains how to compare carriers for the same plan.
Frequently Asked Questions
Why did my Medigap premium increase?
Medigap premiums rise over time due to age (on some pricing methods), medical inflation, and the plan's rating structure. Increases are normal, but you can often shop for a better rate.
Can I switch Medigap plans to lower my premium?
Yes. Because benefits are standardized, you can switch to the same plan letter with another insurer for identical coverage at a lower price — though it usually requires medical underwriting outside a guaranteed-issue window.
Should I cancel my current plan before switching?
No. Wait until the new plan is approved and in effect before canceling your existing coverage, so you're never left with a gap.
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