Medicare Supplement

Comparing the same Medigap letter across insurers in Memphis: what actually differs

MEMPHIS, Tenn. — If you are shopping for a Medicare Supplement (Medigap) policy in Memphis, here is a fact that trips up a lot of first-time buyers: a Plan G is a Plan G, no matter who sells it. The federal government standardizes what each lettered plan covers. So when you compare the same letter across insurers in Shelby County, you are really comparing four things: how the insurer prices the policy, its rate history, any household discount, and whether you have to answer health questions.

Medicare SupplementMemphis, TN

Which Medigap plans you can buy in Tennessee

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

The letter tells you the coverage. Two people in Memphis who each buy a Plan N get the same standardized benefits — the difference is who is behind the policy and how much it costs.

How to find the insurers selling in Memphis

Tennessee does not publish a single fixed list of Medigap carriers on this page, and the roster changes as insurers enter and leave the market. To see who is currently offering policies in your ZIP code:

• Go to the Medicare.gov Medigap policy search and enter a Memphis ZIP code. You will see every insurer licensed to sell each plan letter in Shelby County.
• Check the Tennessee Department of Commerce and Insurance Medigap rate guide, which lists carriers and gives context on premiums by age.
• Call the Tennessee SHIP (State Health Insurance Assistance Program) for free, unbiased one-on-one help. SHIP counselors do not sell policies.

The three ways insurers price the same plan

This is the single biggest reason two insurers can quote very different premiums for the identical Plan G. Ask which method a carrier uses before you sign anything.

• Attained-age rated. The premium starts lower when you are younger and goes up as you get older. Most Medigap policies sold in Tennessee use this method.
• Issue-age rated. The premium is based on your age when you first bought the policy and does not increase because you get older (though it can still go up for other reasons, like inflation).
• Community-rated. Everyone who has that policy pays the same base premium regardless of age.

None of these is automatically "better." An attained-age policy may look cheaper at 65 and cost more at 80. An issue-age or community-rated policy may look higher at 65 but hold steadier over time. What matters is matching the pricing method to how long you plan to keep the policy.

Rate history, household discounts, and underwriting

Once you know the pricing method, three more things separate one insurer's Plan G from another's:

Rate-increase history. Even attained-age policies get bumped for inflation and claims. The Tennessee rate guide and your SHIP counselor can share how often a given carrier has raised rates in recent years. A policy that looks affordable today but has a history of steep annual increases may not stay that way.

Household discount. Many insurers offer a discount — often in the range of 5% to 12% — when two people in the same household hold policies with the same company, or sometimes when you simply live with another adult. Rules vary carrier by carrier. Always ask.

Underwriting. This is where timing becomes critical. During your six-month Medigap Open Enrollment Period — which starts the month you are 65 or older and enrolled in Part B — insurers must sell you any policy they offer at their best available rate, regardless of your health. Outside that window (and outside a few guaranteed-issue situations), most insurers in Tennessee can ask health questions and turn you down or charge more. Two carriers looking at the same medical history may reach different decisions.

Putting it together

The table on this page can help you see who is offering each plan letter. When you compare, line up insurers offering the same letter and then ask:

1. Is it attained-age, issue-age, or community-rated? 2. What have rate increases looked like over the last several years? 3. Is there a household discount you qualify for? 4. Are you inside your Medigap Open Enrollment Period, or will underwriting apply?

The coverage is identical. Everything else is the fine print.