Medicare Supplement Buyers Can Save An Average of $840 Annually Through Comparison Shopping for the Lowest-Cost Option in Their Area, eHealth Analysis Finds
Medicare Supplement plans (also known as Medigap plans) are offered by private insurers and are designed to fill many of the coverage gaps in Original Medicare. They come in a number of plan types but the most popular at eHealth among customers aging in to Medicare are Plan G and Plan N, which account for approximately 87% of all plan selections (among eHealth customers aging into Medicare during the fourth quarter of 2020 and the first quarter of 2021). Plan G is widely seen as the optimal replacement for the formerly most popular Plan F, which is being phased out.
Medicare Supplement plans of the same type (e.g. Plan G) which are offered by different insurers may vary significantly from one another in terms of cost while providing the same basic benefits and levels of coverage. As such, there is often little reason for Medicare beneficiaries not to select the lowest-priced option available to them within the same plan type.
Among Medicare Supplement Plan G plans, eHealth found:
$840per year ( $70per month) is the average potential savings identified for beneficiaries who enroll in the lowest-cost Plan G option rather than the highest-cost Plan G option available in their area, a 35% savings.
- Across all metropolitan areas reviewed, Plan G monthly premiums ranged from
- On average, Medicare beneficiaries had 6 Plan G options to choose from across all metropolitan areas reviewed.
Among Medicare Supplement Plan N plans, eHealth found:
$648per year ( $54per month) is the average potential savings identified for beneficiaries who enroll in the lowest-cost Plan N option rather than the highest-cost Plan N option available in their area, a 35% savings.
- Across all metropolitan areas reviewed, Plan N monthly premiums ranged from
- On average, Medicare beneficiaries shopping at eHealth had 6 Plan N options to choose from.
Read the full report.
eHealth's findings are based on rates quoted for Medicare Supplement Plans G and N for 65-year-olds through eHealth.com in 67 metropolitan areas by zip code. Data reflect rates as quoted by eHealth
*Among eHealth customers aging into Medicare during the fourth quarter of 2020 and the first quarter of 2021.
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