Medicare Supplement

Same Plan G, Different Company: What to Ask in Nevada

In Las Vegas, shoppers looking at Medicare Supplement Insurance — better known as Medigap — often notice something strange. The same plan letter, say Plan G, is sold by many different insurance companies. The coverage is identical. So why do the offers look so different, and how do you compare them fairly?

The short answer: the coverage under a given letter is standardized by federal rules, but the price, the pricing method, the rate history, the discounts, and the health questions are set by each insurer. That's where your comparison work happens.

The coverage is the same — the company is not

Federal law standardizes Medigap. That means a Plan G from one insurer in Las Vegas pays the same benefits as a Plan G from any other insurer selling in Clark County. A Plan N is a Plan N. You are not shopping for different coverage; you are shopping for the company delivering that coverage.

That is why comparing "which Plan G is better" is the wrong question. The better question is: which insurer offers the terms and long-term stability you want behind that Plan G?

Which plan letters you can buy in Nevada today

If you became eligible for Medicare on or after January 1, 2020, you can choose from Plans A, B, D, G, G-HD, K, L, M and N. Plans C and F are still available, but only to people who were eligible for Medicare before that 2020 date.

Plan G and Plan N tend to be the most talked-about among newly eligible enrollees, but each letter has a different mix of cost-sharing. The Medicare.gov Medigap search lets you filter by letter and see which insurers offer it in your ZIP code.

The three pricing methods — this matters most

Every Medigap insurer uses one of three pricing methods. This affects how your premium changes as you age.

• Attained-age rated. The premium is based on your current age and generally rises as you get older, on top of any general rate increases.
• Issue-age rated. The premium is based on your age when you bought the policy. It does not go up simply because you age, though it can still rise for other reasons.
• Community-rated (no-age-rated). Everyone in the same area pays the same premium regardless of age. It can still change with inflation and claims.

Two Las Vegas residents can be quoted very different first-year prices for the same Plan G because one insurer uses attained-age pricing and another uses community rating. Ask each company which method it uses — it is a fair, direct question, and the answer shapes what you'll pay years from now.

Rate history: the number nobody quotes you

The price you're offered today is only a snapshot. What matters over ten or twenty years is how often, and by how much, that insurer raises rates.

The Nevada Division of Insurance publishes a Medigap rate guide that shows filed rate information for companies selling in the state. Ask each insurer — or your agent — about the company's rate-increase history for that specific plan letter in Nevada. A slightly higher starting price with a steady history can look very different from a low starting price followed by big yearly jumps.

Household discounts and underwriting

Two more places insurers differ:

• Household discounts. Some Medigap insurers offer a discount if a spouse or another adult in the household also has a policy with them, or sometimes just lives with you. The amount and the rules vary. Ask.
• Medical underwriting. During your six-month Medigap Open Enrollment Period (which starts when you're 65 or older and enrolled in Part B), insurers in Nevada must sell you any Medigap plan they offer at their best available rate, regardless of health. Outside that window, most insurers can ask health questions and can decline you or charge more. If you're switching between insurers later, ask upfront whether underwriting applies to your situation.

How to build your list of insurers

Since Nevada's specific Medigap carrier list changes as companies enter and leave the market, the most reliable way to see who sells in Las Vegas today is:

1. Medicare.gov Medigap policy search. Enter your Las Vegas ZIP code to see every insurer offering each plan letter in your area. 2. Nevada Division of Insurance. Its Medigap rate guide lists filed premiums and can give you a sense of the market. 3. Nevada SHIP (State Health Insurance Assistance Program). Free, unbiased counseling from trained volunteers who can walk through your options with you.

The table below (from Medicare.gov) shows the plan letters available. Your local insurer list comes from that ZIP-code search.