Medicare Supplement

Same Plan G, different Augusta insurers: what actually changes

In Augusta, a Plan G is a Plan G. The federal government standardized Medigap letters years ago, so the coverage inside any given letter is identical no matter which insurance company sells it. What changes from one company to the next is the price you are quoted, how that price is set, how often it goes up, and whether you can qualify at all if you are outside your one-time open enrollment window. That is where shopping actually happens.

Medicare SupplementAugusta, GA

Augusta is in Richmond County, where residents can choose from every Medigap insurer licensed to sell in Georgia. The table below lists every insurer and the plan letters each one offers in the state. This article walks through how to line them up against each other without getting lost.

Start with the letter, not the company

Before comparing companies, decide which standardized letter fits how you use care. People newly eligible for Medicare today can buy Plans A, B, D, G, G-HD, K, L, M or N. Plans C and F are only available to people who were eligible for Medicare before January 1, 2020.

Once you know your letter, every quote you gather should be for that same letter. Comparing a Plan G quote from one insurer to a Plan N quote from another is not a fair comparison — the benefits are different.

Know which insurers actually sell in Georgia

The full roster is in the table on this page. It lists insurers alphabetically, from AARP – UnitedHealthcare Insurance Company through WoodmenLife, and shows which plan letters each one offers in Georgia. Not every company sells every letter. For example, some companies offer Plan G and Plan N but not the high-deductible version of Plan G, and a few offer less common letters like B, D or M.

When you shop, pull three to five insurers from that table that sell the letter you want, and get a quote from each for a person your age, sex, ZIP code and tobacco status.

The three pricing methods (this is the big one)

Two people can be quoted very different premiums for the exact same Plan G because insurers use different pricing methods. In Georgia you will generally see:

• Attained-age rated. The premium is based on your current age and typically rises as you get older, in addition to any general rate increases.
• Issue-age rated. The premium is based on the age you were when you bought the policy. It does not go up just because you had a birthday, though it can still rise for other reasons.
• Community-rated. Everyone in the same area pays the same premium regardless of age. It can still change over time.

None of these is automatically "better." An attained-age policy may start lower and climb; an issue-age or community-rated policy may start higher and climb more slowly. Ask each insurer, in writing, which method they use for the letter you are considering.

Ask about rate history, discounts and underwriting

Once you have quotes for the same letter, ask each company three questions:

1. What have your rate increases looked like in Georgia over the last three to five years? The Georgia Office of Commissioner of Insurance and Safety Fire publishes rate information you can cross-check. A low starting quote from a company with a steep increase history may not stay low. 2. Do you offer a household or spousal discount? Several Georgia insurers reduce premiums when two people in the same household both hold a policy, or when the applicant lives with another adult. The discount amount varies by company. 3. What are your underwriting rules? During your six-month Medigap Open Enrollment Period (which starts the month your Part B begins, if you are 65 or older), insurers must sell you any policy they offer regardless of health. Outside that window — and outside a guaranteed-issue situation — insurers in Georgia can ask health questions and turn you down. Rules vary company to company.

Use the official tools

Two free tools do most of the heavy lifting:

• Medicare.gov's Medigap policy search. Enter your ZIP code, pick a letter, and you will see the insurers licensed to sell that letter in your area along with contact information.
• Georgia's Medicare Supplement rate guide, published by the state's insurance department, which shows sample premiums by company.

For one-on-one help with no sales pitch, call GeorgiaCares, the state's SHIP (State Health Insurance Assistance Program). Counselors are trained volunteers, and the service is free.

A simple side-by-side worksheet

For each insurer you are considering, write down:

• Plan letter
• Pricing method (attained-age, issue-age or community-rated)
• Quoted premium for your exact profile
• Household or other discounts applied
• Rate increases over the last three years
• Underwriting questions asked
• Whether the company sells other letters you might switch to later

When those seven lines are filled in for three to five insurers, the right choice for you usually becomes clear.