Medicare Supplement

Same Medigap Plan G in Greensboro: how to compare insurers side by side

GREENSBORO, N.C. — If you have started shopping for a Medicare Supplement (Medigap) policy in Guilford County, you have probably noticed something confusing: the same plan letter is sold by a long list of different companies, and the prices are not the same. That is not a mistake, and it does not mean one company's Plan G is "better" than another's.

Here is what actually differs between insurers when the coverage letter is identical, and how to compare them fairly in Greensboro.

The coverage is the same. The company is not.

Medigap plans sold to people newly eligible today come in these standardized letters: A, B, D, G, high-deductible G, K, L, M and N. (Plans C and F are still available, but only to people who became eligible for Medicare before January 1, 2020.)

Because the federal government standardizes each letter, a Plan G from one insurer pays exactly what a Plan G from any other insurer pays. The doctor and hospital networks are not different either — any provider that accepts Original Medicare accepts your Medigap policy.

What is different between companies is everything that sits around the coverage: the premium, the way that premium is calculated, the insurer's history of rate increases, discounts, and how they treat your application if you are outside a guaranteed-issue window.

Three ways insurers price the same letter

North Carolina insurers generally use one of three pricing methods. Ask which one applies before you sign anything.

Attained-age rated. The premium is based on your current age and typically goes up as you get older, in addition to any general rate increases. These policies often look less expensive at 65 and more expensive at 80.

Issue-age rated. The premium is based on the age you were when you bought the policy. It does not rise just because you have another birthday, though it can still go up for other reasons (like overall medical inflation).

Community rated. Everyone who buys that plan letter from that insurer pays the same base premium regardless of age. Rate increases affect the whole group.

None of these is automatically the "right" choice — the best pricing method for you depends on your age today, your health, and how long you expect to keep the policy.

Rate history matters more than the first-year price

A Medigap premium is not fixed for life. Insurers file rate increases with the North Carolina Department of Insurance, and those increases can vary a lot from company to company.

When you look at two insurers offering the same letter, ask (or check the state rate guide for) their history of annual increases over the last several years. A policy that starts a little higher but has raised rates modestly may end up costing less over ten years than one that started lower and climbed quickly.

Household discounts and underwriting

Two more differences worth asking about:

Household or spousal discounts. Many — but not all — insurers offer a discount if another adult in your home also has a policy with them, or sometimes just lives with you. The percentage and the rules vary.

Medical underwriting. During your six-month Medigap Open Enrollment Period (which starts the month your Part B begins at age 65 or older), you have a guaranteed right to buy any Medigap policy sold in North Carolina, regardless of your health. Outside that window, and outside a few limited guaranteed-issue situations, insurers in North Carolina can ask health questions and can decline you or charge more. Each company has its own underwriting rules, so being turned down by one does not mean you will be turned down by another.

How to find the insurers selling in Greensboro

Because the list of Medigap insurers changes and because premiums are personal, this article does not name companies. Two official, no-cost tools will show you the current list for your ZIP code:

• Medicare.gov Medigap policy search. Enter your Greensboro ZIP code at medicare.gov/medigap-supplemental-insurance-plans to see every insurer licensed to sell each plan letter in your area, along with contact information.
• North Carolina Department of Insurance Medigap rate guide. The state publishes a comparison guide that lists insurers and sample rates. You can find it at ncdoi.gov or by calling the department directly.

For one-on-one help walking through the list, contact SHIIP (the Seniors' Health Insurance Information Program), North Carolina's official State Health Insurance Assistance Program. SHIIP counselors are trained volunteers and staff who do not sell insurance.

A simple way to compare, side by side

Once you have the list of insurers selling your chosen letter in Guilford County, put them in a simple grid:

1. Plan letter (make sure it is the same across every column). 2. Monthly premium quoted for your age, ZIP code and tobacco status. 3. Pricing method: attained-age, issue-age, or community rated. 4. Rate increase history over the last 3 to 5 years. 5. Household or spousal discount, if any. 6. Whether you are inside your Medigap Open Enrollment window or will be underwritten.

If two rows look almost identical, the tiebreaker is usually rate history and customer service reputation — not the first-year premium alone.