Medicare Supplement

How to compare the same Medigap letter across Colorado insurers in Colorado Springs

If you live in Colorado Springs and you're shopping for a Medicare Supplement policy, the trickiest part isn't picking a plan letter — it's figuring out how two insurers can sell the exact same letter and still feel like very different products. Colorado Springs is in El Paso County, and the Medigap insurers licensed to sell there follow federal standardization rules, but they set their own prices, use different rating methods, and treat medical history in their own ways.

Here's how to line them up fairly.

Start with the letter, not the logo

Medigap plans are standardized by federal law. That means a Plan G from one carrier covers the same Medicare-approved costs as a Plan G from any other carrier. The network is the same too — any doctor or hospital that accepts Original Medicare accepts your Medigap policy.

People new to Medicare today can choose from Plans A, B, D, G, G High-Deductible, K, L, M and N. Plans C and F are only available to people who became eligible for Medicare before January 1, 2020.

Once you've picked the letter that fits your budget and how much cost-sharing you're comfortable with, the comparison across insurers is really about price, pricing method, rate history, discounts and underwriting — not benefits.

The three pricing methods, explained

In Colorado, insurers may use any of three ways to set Medigap premiums. Two people the same age can pay very different amounts because the methods work differently over time.

• Attained-age rated. Premiums start lower when you're younger and go up as you get older. This is the most common method.
• Issue-age rated. Your premium is based on the age you were when you bought the policy and doesn't rise just because you had a birthday. It can still go up for inflation.
• Community rated. Everyone in the same area pays the same premium regardless of age. It can still change for inflation.

None of the three is automatically "better." An attained-age policy may look cheaper at 65 and cost more at 80. A community-rated policy may look higher today and hold up better later. Ask each insurer, in writing, which method they use.

Ask for rate history, not just today's rate

A quote is one moment in time. What you really want to know is how that insurer has raised premiums on existing Colorado policyholders over the last three to five years. Two carriers can advertise similar rates today, and one may have a pattern of steeper annual increases.

The Colorado Division of Insurance publishes a Medigap rate guide that shows premium ranges by plan letter and, in many cases, historical rate change information. Your local State Health Insurance Assistance Program (SHIP) counselor can walk you through it for free.

Household and other discounts

Many insurers offer a household discount — typically when two adults live at the same address, and sometimes when a spouse is also enrolled with the same carrier. The size of the discount, and the rules for qualifying, vary a lot from insurer to insurer. Some apply it only if both people buy a policy; some apply it if you simply live with another adult over a certain age.

Other possible discounts include paying annually instead of monthly, enrolling by electronic funds transfer, or non-tobacco use. Always ask what discounts apply and whether they're guaranteed to continue.

Underwriting: when the insurer can say no

This is the piece a lot of shoppers miss. During your six-month Medigap open enrollment window — which starts the month you're 65 and enrolled in Part B — insurers must sell you any Medigap policy they offer at their best available rate, regardless of your health. That's called guaranteed issue.

Outside that window, and outside of certain guaranteed-issue situations (for example, losing other coverage through no fault of your own), Colorado insurers may use medical underwriting. That means they can ask health questions and decide whether to accept you, charge you more, or decline. Two insurers can look at the same person and reach different decisions, because they use different underwriting guidelines.

If you're outside open enrollment, ask a licensed agent or SHIP counselor which carriers are most likely to accept your specific health history before you apply.

How to find the insurers selling in Colorado Springs

There's no single public list of every insurer in this article, so use the official tools:

• Medicare.gov Medigap policy search. Enter your Colorado Springs ZIP code to see every insurer licensed to sell each plan letter in your area.
• Colorado Division of Insurance Medigap rate guide. Shows premium ranges and, for many carriers, historical increases.
• Colorado SHIP (State Health Insurance Assistance Program). Free, unbiased counseling from trained volunteers who don't sell insurance.
• 1-800-MEDICARE. For questions about how Medigap works alongside Original Medicare.

When you call insurers or agents, ask the same questions of each: pricing method, three-year rate history in Colorado, discounts, and underwriting rules. Write the answers down side by side. That's the only fair comparison.