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What Is The Average Cost of Supplemental Insurance for Medicare?

Average Cost of Supplemental Insurance for Medicare
02/04/2022
  • Medicare with Melissa

When people ask us, “What is the average cost of supplemental insurance for Medicare?”, what they really mean is “How much do Medicare Supplement Plans Cost?” or “How much does Medigap Insurance Cost”?

We’ve been helping Medicare beneficiaries since 2014 and there are many elements needed to determine the exact cost of Medicare Supplement Plans. But, since you’re on this page, you’re curious about the average cost of Medicare Supplemental Insurance (average cost of Medigap Insurance).

The cost of Medicare Supplement plans can start as low as $40 per month and climb higher than $300. Since 2020, the average cost of Medicare Supplement Plans that the clients at Senior HealthCare Solutions pay is $133.50 per month (that is the average cost of Medigap per month for all Medigap Plans).

Looking at the most popular Medigap Insurance Plans (Plan F, Plan G and Plan N), the average Medigap Cost per month is $155. The cost of Medigap Insurance increased because those Medigap Plans provide the most benefits. Again, providing an average cost of Medicare Supplements is based data provided by Senior HealthCare Solutions clients and not a reflection of what you will pay.

In general, you can expect that the average cost of supplemental insurance will be less for those that are:

  • Female
  • Non-Tobacco
  • Eligible for household discounts

How Much Do Medicare Supplement Plans Cost? (Cost of Medigap Plans)

The cost of Medicare Supplement Insurance depends on the supplemental insurance plan you choose (Plan F, Plan G, Plan N, etc.). Different Medicare Supplement insurance plans have different benefits.  We will touch on Medicare Supplement costs for the most popular plans (Medigap F, Medigap G, Medigap N).

The cost of Medicare Supplement Plans will also be determined by the following:

  • Location (Zip Code)
  • Age
  • Gender
  • Tobacco Use
  • Pre-Existing Conditions (Some companies provide preferred and standard premiums for those with certain pre-existing conditions)
  • Household discounts (Some companies provide discounts on the cost of medigap insurance, even if the spouse isn’t on a plan)

There are also ratings that can impact your future Medigap insurance rate.

  • Attained-Age Rated
    • The cost of your Premium is based your age and your Medigap premium can increase as you get older.  Your Medigap insurance premium can also increase due to rising cost of healthcare, inflation and more.
  • Issued-Age Rated
    • Your Medigap premium is based on the age at which you buy the policy. As you age, Medigap insurance premiums will not increase because you get older. But, Medigap Premiums can increase due to inflation, cost of care and more.
  • Community-Rated
    • Premium is not based on age. As you age, Medigap premiums will not increase because you get older, but could increase due to inflation, rising cost of healthcare, etc.

What is the Medicare Supplement Cost for Plan F? (Cost of Medigap Plan F)

The cost of Medicare Supplement Plan F is the highest of all Medicare Supplemental Plans because it provides the most benefits. The Supplement Plan F covers 100% of all Medicare approved services for Part A and Part B.

Remember, the Medicare Supplement Plans average cost will vary by things like, age, gender, zip code and more.

Using data provided by Senior HealthCare Solutions, our examples below for the average cost of supplemental health insurance (Medicare Plan F).

  1. New York average cost of supplemental insurance for Medicare Plan F = $318 per month
  2. Florida average cost of supplemental insurance for Medicare Plan F = $222 per month
  3. Illinois average cost of supplemental insurance for Medicare Plan F = $170 per month
  4. Pennsylvania average cost of supplemental health insurance for Plan F = $148 per month

Plan F also offers a high-deductible option, which offers a premium as low as $40 per month. This plan provides the same benefits as the standard plan F but requires the member to pay the deductible prior to the plan paying 100%.  To learn more or compare these Medigap Plans, call our team at Senior HealthCare Solutions.

We are licensed in over 30 states and have access to over 25+ highly rated Medicare insurance carriers. It’s easy to get your Plan F quote today, just call 866-MEDIGAP (633-4427) and be ready to answer some simple questions, like your age, zip code and tobacco use.

What Is The Average Cost of Supplemental Insurance for Medicare Plan G? (Cost of Medigap Plan G)

The Medicare supplement cost for Plan G is lower than Plan F by up to 25% and has become more popular than Plan F in recent years. The Medigap Plan G provides great value, just like the Plan F. 

In fact, the only difference in benefits is that Medigap Plan G requires you to pay your annual Part B deductible each year ($233 in 2022).  So, if you don’t mind paying a small deductible, you could save greatly on your Medigap cost by going with Plan G. See average cost of Medigap Insurance Rates for Plan G below:

  1. New York average cost of supplemental insurance for Medicare Plan G= $272 per month (14% less than Plan F)
  2. Florida average cost of supplemental insurance for Medicare Plan G = $194 per month (12% less than Plan F)
  3. Illinois average cost of supplemental insurance for Medicare Plan G = $140 per month (17% less than Plan F)
  4. Pennsylvania average cost of supplemental insurance for Medicare Plan G = $132 per month (10% less than Plan F)

Medigap Plan G also offers a high-deductible version of the plan with Medigap Rates as low as $40 per month. This plan provides the same benefits as the standard Medigap Plan G but requires the member to pay the deductible prior to the plan paying 100%. 

It’s simple to get your Medigap Quote, just give our team a call (866-633-4427) and one of our licensed agents will ask a few, quick questions and provide a comparison with the cost of Medigap Plans in your area.

What is the Medicare Supplement Cost for Plan N? (Cost of Medigap Plan N)

The cost of Medicare supplement Plan N comes in lower than supplement Plan F and Plan G. And, yes, it does cover less than the Plan G, but we think the supplemental Plan N provides an awesome bang for your buck.  The Medigap Plan N covers the Part A deductible and co-insurance.  You are responsible for paying:

The average monthly Medigap Cost for Plan N can be found below:

  1. New York average cost of Medigap Insurance for Plan N = $205 per month (25% less than Plan G and 35% less than Plan F)
  2. Florida average cost of Medigap Insurance for Plan N = $162 per month (16% less than Plan G and 26% less than Plan F)
  3. Illinois average cost of Medigap Insurance for Plan N = $115 per month (17% less than Plan G and 31% less than Plan F)
  4. Pennsylvania average cost of Medigap Insurance for Plan N = $124 per month (6% less than Plan G and 18% less than Plan F)

What Is The Average Cost of Supplemental Insurance for Medicare on the other Plans (Plan A, Plan K, etc.)?

Remember, over 90% of Medicare Supplement members are enrolled in one of the plans we discussed in this article (Plan F, Plan G or Plan N).

The other Supplemental Insurance Plans available (Plan A, Plan B, Plan C, Plan D, Plan HD-F, Plan HD-G, Plan K, Plan L, Plan M) and depending on your specific situation, one of those other plans may be suitable for.

We make it easy to get a Medicare Supplemental Quote. You can:

How To Compare The Cost of Medicare Supplement Plans In My Zip Code?

Our team makes it super easy to compare Medigap Rates in your zip code.  At your convenience, just give us a call, 866-MEDIGAP (633-4427).  Our licensed agents are contracted with over 25 Medicare Insurance Carriers and can compare Medigap Rates in your area within minutes. There is no obligation to enroll and you having nothing to lose by comparing premiums.

Plan F vs Plan G vs Plan N Benefits

Plan F vs Plan G vs Plan N

Frequently Asked Questions

Do all Plan F cost the same?

No.  Although all companies offering a Plan F are required to have the same benefits (same coverage), the insurance carriers can charge different Plan F premiums.

What is the deductible for Plan F in 2022?

The deductible for Plan F is $0. However, there is a high-deductible version of Plan F (Plan HD-F) and the annual deductible is $2,490 in 2022.  The deductible is required to be paid in full before the plan pays 100%.

What is the deductible for Plan G in 2022?

The deductible for Plan G is $233. That deductible is the Medicare Part B deductible that the plan requires you pay. However, there is a high-deductible version of Plan G (Plan HD-G) and the annual deductible is $2,490 in 2022.  The deductible is required to be paid in full before the plan pays 100%.

Does Plan N have a deductible in 2022?

Yes.  The deductible for Plan N is $233 in 2022, which is the Part B deductible. Once the deductible has been met, you may be responsible to pay up to a $20 co-pay for each physician visit thereafter (the plan covers the other 20% Part B co-insurance)

What is the cheapest Medicare Supplement Plan?

The cheapest Medicare Supplement Plan (as it pertains to the monthly premium) comes from either the Medicare Supplement HD-F or Medicare Supplement HD-G.  These plans have premiums in some areas as low as $40 per month.

Is Plan F more expensive than plan G?

Yes.  The Plan F is historically more expensive than the Plan G.  This is mostly due to the additional benefits Plan F offers.

How much cheaper is Plan G than Plan F?

We’ve seen instances that the Medigap Plan G premium can be up to 35% less than the Medigap Plan F.  Plan G premiums will vary by age, gender, zip code, tobacco use and more. The best thing you can do is give us a call today and see how much we can save you!  866-MEDIGAP (633-4427)

Meet Melissa MacCalla

Medicare is not simple and can be hard, frustrating, and downright confusing for most. I love when I get someone on the phone and I am given the opportunity to explain the difference in plans to them and have Medicare make sense. I enjoy talking to clients year after year, hearing about their families growing or them asking about mine.

-Melissa

Oh my gosh!! I was so confused about the Medicare Supplement process. I am turning 65 soon and am retired and have always had insurance thru my former employer. I didn’t know a thing about going on Medicare and was struggling to sort it all out.

A friend of mine recommended contacting Senior HealthCare Solutions, so I did. Melissa was FANTASTIC!! She was professional, responsive, caring and friendly. She explained the steps I needed to take, gathered my information, helped me choose good plans for MY specific needs and took care of my applications over the phone. 1-2-3, eesy-peesy and I was done!! And it didn’t cost me a DIME!!! WOW!!! I HIGHLY recommend Senior Healthcare Solutions for anyone who’s overwhelmed with making the right choices with Medicare Supplemental Insurance and Rx coverage. It’ll take a load off your mind!

Janice W.

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