At Cardinal Advisors, we’re dedicated to helping you make the best Medicare decisions for your health and your wallet. In today’s lesson, we’re discussing Medicare Supplement Insurance, also known as Medigap. Specifically, we’re comparing three of the most popular Medigap plans: Plan G, High Deductible Plan G, and Plan N. These plans are essential tools to help cover the gaps in Original Medicare, but understanding the differences—and the costs—can help you avoid overpaying for your coverage.
Why This Matters
Medigap plans increase in cost over time. If you haven’t reviewed your plan or shopped for rates in the past few years, you could be paying more than necessary. Because all Medigap plans are standardized, you get the same benefits regardless of the insurance company—so why pay more for the same coverage?
The Medigap Chart
We encourage you to download the Medicare publication “Choosing a Medigap Policy” and reference the included chart. You can find this publication in the “Learning Center” under “Resources”. It clearly outlines what each of the 10 standardized plans—labeled A through N—covers. We’ll focus on three:
- Plan G: The most comprehensive plan available to new Medicare beneficiaries, covering nearly all gaps except the Part B deductible ($257 in 2025).
- Plan N: Lower premiums, but excludes coverage for Part B excess charges and includes some copayments.
- High Deductible Plan G: Same coverage as Plan G after a $2,870 deductible is met.
Historical Background
Prior to 1990, Medigap policies varied greatly, creating confusion for consumers. The government stepped in to standardize coverage across 10 plans, making it easier to compare offerings. While companies still set their own premiums, the coverage within each lettered plan remains identical.
Real-World Price Comparisons
Using real-life examples for a 70-year-old single female non-smoker:
North Carolina
- Mutual of Omaha Plan G: $164.11/month
- Medico Plan G: $124.32/month (a $40 monthly savings for the same benefits)
- Medico Plan N: Even lower premiums, with minor trade-offs
Florida (Orlando)
- Medico Plan G: $272.37/month
- Cigna Plan G: $197.48/month (a $75 savings)
- Cigna Plan N: $146.75/month
How to Compare Rates
Visit our website at cardinalguide.com and go to the Medicare section under “Seven Worries.” You can run a free, anonymous quote comparison—no email, no phone number required. This helps you see what companies are charging in your area and empowers you to make informed decisions.
Consider the Trade-Offs
- Plan G offers full coverage (minus the Part B deductible). Great for peace of mind.
- Plan N saves money but may lead to small copayments and exposure to excess charges.
- High Deductible G is the lowest-cost option, ideal only if you can comfortably cover the $2,870 annual deductible out-of-pocket.
Don’t Set and Forget
Many people buy a Medicare Supplement at age 65 and never look at it again. But premiums increase, and switching plans—if you’re healthy and can pass underwriting—can result in substantial savings. We recommend reevaluating your plan every 3 years.
Underwriting Requirements
Outside your Medicare open enrollment period, changing plans typically requires medical underwriting. Different companies have different rules, timeframes, and thresholds. At Cardinal Advisors, we work with over 30 insurers and can help find the ones most likely to approve you based on your health history and prescriptions.
Special State Rules & Discounts
Some states have birthday rules, letting you switch plans without underwriting around your birthday. Discounts are also available for:
- Women
- Non-smokers
- Married couples
- Annual payment options
- Multiple policies
A Word on Plan F
If you were eligible for Medicare before 2020, you may still purchase or switch into Plan F, which covers everything—including the Part B deductible.
Prescription Drugs & Comprehensive Planning
Part D drug plans are separate from Medicare Supplement policies. We also help with:
- Long-term care insurance
- Dental, vision, and hearing insurance
- Comprehensive retirement and estate planning
Conclusion
Whether you’re just turning 65 or you’ve been on Medicare for years, reviewing your Medicare Supplement plan could save you hundreds—if not thousands—of dollars annually. Our team at Cardinal Advisors is here to guide you through your options and help you make the most cost-effective decision for your health and financial future.
Hans Scheil and Tom Griffith thank you for reading, and we encourage you to visit our website or call us directly if you have questions or want a personalized review.
