My Medicare Supplement rate went up—what can I do? You can review the increase, compare premiums from other insurance companies and determine whether changing coverage would provide worthwhile savings.
A premium increase does not automatically mean you should change policies. Sometimes another company offers the same standardized plan at a substantially lower premium. In other cases, the savings are too small, medical underwriting creates a problem, or keeping your current policy is the better decision.
Before making any change, compare the available options carefully and never cancel your existing Medicare Supplement policy until a replacement policy has been approved.
I’m Joe DeAngelis of The DeAngelis Agency. I’ve helped Medicare beneficiaries review Medicare Supplement rate increases and compare coverage since 1985.
Get Help Reviewing Your Medicare Supplement Rate Increase
If your Medicare Supplement premium increased, I can help you compare your current coverage with available plans from other insurance companies represented by the agency.
Call or text The DeAngelis Agency at 215-967-8828, or contact us online. There is no charge or obligation.
What Should I Do After a Medicare Supplement Rate Increase?
Start by reviewing the rate-increase notice carefully. Confirm:
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Your current monthly premium
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Your new monthly premium
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The effective date of the increase
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Whether a household or payment discount changed
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Whether the notice includes more than one adjustment
Calculate the actual monthly and annual increase. A $20 monthly increase equals $240 per year. That gives you a useful number to compare against the potential savings and inconvenience of changing policies.
Do not cancel your current coverage or stop its automatic payment while you investigate your options.
Why Did My Medicare Supplement Rate Go Up?
Medicare Supplement premiums can increase because of:
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Rising healthcare expenses
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Claims experience within the policy’s rating class
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Inflation
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Changes within the policy’s risk pool
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Insurance-company pricing adjustments
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Your age under an attained-age-rated policy
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The loss or reduction of a discount
A rate increase does not ordinarily mean the company raised your individual premium because you personally used your coverage.
Insurance companies generally evaluate the claims experience of a broader rating class or policy block. Your premium may increase even if you had no significant medical claims.
For a more detailed explanation, see Why Are Medicare Supplement Rates Increasing?.
Compare the Same Medicare Supplement Plan First
The simplest comparison is usually between the same standardized plan letter from different insurance companies.
For example, if you currently have Plan G, compare your new premium with current Plan G rates from other companies.
The standardized medical benefits of Plan G are generally the same regardless of which insurance company issues the policy. The same principle applies when comparing Plan N with Plan N.
Differences between companies can include:
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Monthly premium
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Household discounts
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Payment-method discounts
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Rate history
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Financial strength
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Customer service
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Underwriting requirements
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Application or policy fees
Switching companies may allow you to keep the same standardized benefits at a lower premium. However, a lower initial premium does not guarantee smaller future increases.
Should I Compare a Different Plan Letter?
Sometimes it makes sense to compare another standardized Medicare Supplement plan.
A common example is comparing Plan G with Plan N. Plan N often has a lower monthly premium, but it can require certain office and emergency-room copayments and does not cover Medicare Part B excess charges.
Pennsylvania prohibits healthcare providers from charging Medicare Part B excess charges. That eliminates one potential Plan N expense for Pennsylvania residents, although Plan N’s other cost-sharing requirements still apply.
Changing plan letters should be based on the actual premium difference, possible out-of-pocket costs and your preferences—not merely which plan has the lowest advertised premium.
Can I Switch Medicare Supplement Companies Anytime?
You can generally apply for another Medicare Supplement policy at any time of year. However, the insurance company may require medical underwriting unless you are within your Medigap Open Enrollment Period or qualify for a guaranteed-issue right.
There is no general annual Medicare Supplement open enrollment period that allows everyone to change companies without medical underwriting.
The fall Medicare Open Enrollment Period, which runs from October 15 through December 7, primarily concerns Medicare Advantage and Medicare prescription drug coverage. It does not generally give Medigap policyholders a new right to purchase any Medicare Supplement policy without underwriting.
Will I Have to Answer Health Questions?
In many cases, yes.
Outside a protected enrollment period, a Medicare Supplement application may ask about:
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Recent hospitalizations
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Pending surgeries or medical procedures
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Heart or circulatory conditions
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Cancer history
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Diabetes complications
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Chronic health conditions
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Prescription medications
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Use of certain medical equipment
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Recent recommendations for treatment
Underwriting requirements vary among insurance companies. Approval by one company does not guarantee approval by another.
Do not assume you are unable to change policies because you have a health condition. Let an experienced broker review the available underwriting requirements before deciding whether an application makes sense.
When Can I Change Without Medical Underwriting?
Your six-month Medigap Open Enrollment Period begins when you are 65 or older and enrolled in Medicare Part B. During that period, insurance companies cannot use medical underwriting to deny you a Medigap policy they sell.
Certain events can also create guaranteed-issue rights. Examples may include losing qualifying coverage through no fault of your own or exercising an applicable Medigap trial right.
The exact rules depend on the circumstances and applicable federal or state protections. Receiving an ordinary premium increase by itself does not generally create a guaranteed-issue right.
Never Cancel Your Existing Policy First
This is the most important rule when changing Medicare Supplement policies:
Never cancel your current policy until the new policy has been approved and you have confirmed its premium and effective date.
Submitting an application is not the same as receiving approval. If you cancel your existing policy prematurely and the replacement application is declined, you could be left without the coverage you intended to keep.
Once the new policy is approved:
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Confirm the approved premium.
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Confirm the effective date.
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Review any conditions or payment requirements.
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Arrange the termination date of the old policy.
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Avoid paying for overlapping coverage longer than necessary.
Keep written confirmation of both the new policy and the termination of the old policy.
When Does Switching Companies Make Sense?
Changing companies may make sense when:
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The same standardized plan is available for meaningfully less
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The annual savings justify making the change
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You meet the new company’s underwriting requirements
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The new company offers a useful household discount
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You understand any application or policy fees
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The replacement coverage has been approved
The amount of worthwhile savings differs from person to person. Saving $5 per month may not justify changing a policy you are comfortable with. Saving $50 or more per month for the same standardized coverage deserves a closer look.
Price is important, but it should be evaluated alongside the company’s rate history, financial strength and service.
When Should I Keep My Current Policy?
Keeping your current policy may be the better decision when:
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The premium remains competitive
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Other companies offer little or no meaningful savings
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You cannot qualify medically for a better-priced policy
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The alternative requires giving up benefits you value
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Your current discount would be lost
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You are satisfied with the policy and company
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The proposed replacement does not offer enough value
A broker should be willing to tell you when staying where you are makes sense.
I have reviewed rate increases for clients and recommended that they keep their existing coverage when the alternatives did not provide a meaningful improvement. The goal is to make the right decision—not to change policies merely for the sake of making a change.
Will Changing Companies Affect My Doctors?
Changing from one standard Medicare Supplement company to another ordinarily does not change which Medicare-participating doctors and hospitals you can use.
Medicare Supplement plans generally do not use insurance-company provider networks. Original Medicare remains your primary coverage, and the Medicare Supplement policy pays according to its standardized benefits.
The important question is generally whether the provider accepts Original Medicare, not which company issued your Medicare Supplement policy.
Will the New Company Raise Its Rates Too?
Possibly. No Medicare Supplement insurance company can guarantee that its premiums will never increase.
A company offering a lower premium today may implement future adjustments because of healthcare costs, claims experience, inflation or other permitted factors.
Rate history can provide useful context, but it cannot predict future increases with certainty. That is why a comparison should consider both the immediate savings and the overall suitability of the replacement policy.
Frequently Asked Questions
My Medicare Supplement rate went up. What can I do?
You can review the increase, compare the same plan letter with other insurance companies, consider another plan letter when appropriate or decide that keeping your current policy remains the better choice.
Can I switch Medicare Supplement companies after a rate increase?
You can apply for another policy, but medical underwriting may be required unless you have an applicable enrollment protection or guaranteed-issue right.
Does a rate increase give me guaranteed-issue rights?
An ordinary premium increase does not generally create a guaranteed-issue right. Other specific circumstances may provide enrollment protections.
Can I change Medicare Supplement plans during the fall Medicare Open Enrollment Period?
You may apply, but the October 15 through December 7 period does not generally provide a special right to purchase any Medicare Supplement policy without medical underwriting.
Can an insurance company deny my application?
Yes. Outside your Medigap Open Enrollment Period or a guaranteed-issue situation, an insurance company may deny an application based on its medical underwriting requirements.
Should I cancel my current policy before applying?
No. Keep your current policy until the replacement has been approved and you have confirmed its premium and effective date.
Will changing Medicare Supplement companies change my benefits?
If you move from the same standardized plan letter to the same plan letter, the standardized medical benefits are generally identical. Changing to a different plan letter can change your benefits and potential out-of-pocket expenses.
Should I switch every time my premium increases?
No. Compare the available savings, underwriting requirements, company differences and your satisfaction with the existing policy before making a decision.
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Schedule Your Medicare Consultation Today
Medicare can be confusing, but getting answers shouldn’t be.
Whether you’re enrolling for the first time, reviewing your current coverage, considering a plan change, or simply looking for a second opinion, I’m happy to help you understand your options and answer your questions.
I’ve been helping Medicare beneficiaries since 1985, and I’ve built my practice on straightforward advice, long-term relationships, and treating people the way I’d want my own family treated.
If you’d like to discuss your Medicare options, call or text The DeAngelis Agency at 215-967-8828, or contact us online.
There’s no pressure and no obligation—just honest guidance to help you make a confident decision.
