Medicare Supplement

Before You Buy Medigap in Chesapeake, Check These Points

If you live in Chesapeake and you are shopping for a Medicare Supplement policy — better known as Medigap — the first thing worth knowing is that the plans themselves are standardized. A Plan G from one insurer covers the same gaps in Original Medicare as a Plan G from any other insurer licensed in Virginia. What changes from company to company is the price, how that price is set, whether you have to answer health questions, and what extras (like a household discount) might apply.

Chesapeake is an independent city in Virginia, and Medigap is regulated at the state level, so the same roster of insurers that sells in the rest of Virginia is available to Chesapeake residents. The table below lists every insurer currently selling Medigap in the state, along with the standardized plan letters each one offers.

The same letter is the same coverage

Federal law standardizes Medigap plans. That means Plan G is Plan G, whether it comes from Mutual of Omaha (Mutual of Omaha Insurance Company), Anthem Blue Cross and Blue Shield - Virginia, AARP - UnitedHealthcare Insurance Company, or any other insurer on the Virginia list. The benefits inside a given letter do not change.

What can differ:

• The monthly premium.
• The way the insurer calculates that premium.
• How often, and by how much, it has raised rates in the past.
• Discounts (household, spousal, non-tobacco).
• Whether you must go through medical underwriting to be approved.
• Extras that sit outside the standardized benefits, such as a wellness discount or a fitness perk.

Because the coverage is identical, comparing insurers on the same plan letter is mostly a math and stability exercise, not a benefits exercise.

The three ways Medigap prices are set

Virginia insurers generally use one of three pricing methods, and it is worth asking which one applies before you sign anything.

Attained-age rated. The premium is based on your current age and goes up as you get older. It often starts lower at 65 and rises over time. Most Medigap policies sold in Virginia use this method.

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 have a birthday, though it can still rise due to inflation or overall claims.

Community-rated (also called no-age-rated). Everyone in the same area pays the same base premium, regardless of age. It can look higher at 65 and more level later on.

None of these methods is automatically better — it depends on how long you expect to hold the policy and what your budget looks like now versus later. Ask each insurer, in writing, which method applies.

Rate history matters more than a first-year quote

A low premium today does not tell you what you will be paying five years from now. When you request quotes, ask the agent or insurer for the company's rate increase history for that specific plan letter in Virginia. The Virginia Bureau of Insurance publishes an annual Medicare Supplement rate guide that shows historical increases; it is one of the most useful documents in this whole process.

Two policies with the same first-year premium can drift apart quickly if one insurer raises rates more aggressively.

Household discounts and other price levers

Several insurers on the Virginia list offer a household or spousal discount — typically a percentage off if you live with another adult, or if a spouse also has a policy with the same company. The rules vary: some require both people to enroll, some only require that another adult lives in the home. Ask directly.

Other levers that can move your quote include:

• Non-tobacco status.
• Paying annually instead of monthly.
• Electronic funds transfer.

These are set by each insurer, not by Medicare.

Underwriting: the piece people miss

During your Medigap Open Enrollment Period — the six months that begin the month you are 65 or older AND enrolled in Part B — insurers in Virginia must sell you any Medigap plan they offer, at their best available rate, without asking health questions. This is called guaranteed issue.

Outside that window, most insurers can require medical underwriting. That means they can ask health questions and, in many cases, decline you or charge more. A few limited "guaranteed issue" situations exist outside the initial window (for example, if certain other coverage ends), but they are narrower than people expect.

The practical takeaway for Chesapeake shoppers: if you are inside your one-time Open Enrollment window, that is the moment when comparing insurers is easiest, because every carrier in the state has to take you.

Which plan letters you can actually buy

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

Not every insurer sells every letter. Some Virginia carriers focus on just a few — for example, AFLAC and USAA Life Insurance Company each list Plans A, F, G and N — while others, like United American Insurance Company, list a broader set. The table on this page shows exactly which letters each insurer offers.

How to compare, step by step

1. Decide which plan letter fits your situation (G and N are the most commonly shopped by newly eligible enrollees; the high-deductible G is worth understanding if you want a lower premium in exchange for more upfront cost). 2. On Medicare.gov, use the Medigap policy search for your Chesapeake ZIP code to pull the list of insurers offering that letter. 3. Ask each insurer, or a licensed agent representing several: What is the pricing method? What have the rate increases been for this plan in Virginia over the last five years? Do you offer a household discount? Is any underwriting required for me today? 4. Cross-check against the Virginia Bureau of Insurance rate guide. 5. Call the Virginia Insurance Counseling and Assistance Program (VICAP), Virginia's SHIP, for free one-on-one help.