Medicare SupplementMI

How Independent Medigap Brokers Help Seniors Find Lower Rates on Plan G and Plan N

Working with a broker who represents multiple carriers can save hundreds of dollars a year — but only if you know how to use the comparison process correctly

February 17, 2026·By Senior Health Times Editorial Team·✓ Reviewed April 2026

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Key Takeaways

✓Independent Medigap brokers are licensed to sell policies from multiple insurance companies and are legally required to disclose their commissions upon request under state insurance regulations.
✓Plan G and Plan N cover the same core benefits but differ on one key cost-sharing rule: Plan N requires copays of up to $20 for office visits and up to $50 for emergency room visits that do not result in inpatient admission.
✓Because Medigap benefits are standardized by federal law under the 1990 Omnibus Budget Reconciliation Act, the only meaningful variable between carriers for the same plan letter is the premium, the company's financial strength rating, and its rate-increase history.
✓Ask any broker for a carrier's five-year rate-increase history before enrolling — some carriers have raised Plan G premiums by 8 to 12 percent annually while others have held increases below 4 percent.
✓Your six-month Medigap Open Enrollment Period begins the month you are both age 65 and enrolled in Medicare Part B; outside that window, most states allow carriers to use medical underwriting to deny coverage or charge higher premiums.

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Working with an independent Medigap broker — one who represents at least five to ten carriers rather than a single insurer — gives Medicare beneficiaries the most direct path to comparing Plan G and Plan N premiums side by side without bias toward any one company.

Why Broker Independence Matters in the Medigap Market

The Medigap market is unusual in American health insurance because every plan sold under the same letter must provide identical benefits regardless of which company issues the policy. That standardization, established under the 1990 Omnibus Budget Reconciliation Act and codified in federal regulations at 42 CFR Part 403, means a Plan G sold by a regional mutual insurer covers exactly the same Medicare cost-sharing gaps as a Plan G sold by a national carrier. The only differences a consumer can actually shop are the monthly premium, the insurer's financial stability, and how aggressively the company has raised rates over time.

A captive agent, who works exclusively for one insurer, cannot show you that landscape. An independent broker licensed in your state can pull quotes from multiple carriers simultaneously and present them in a single comparison. Under the National Association of Insurance Commissioners model regulation, brokers must disclose their compensation structure if a consumer asks. Commissions on Medigap policies are typically paid by the carrier as a percentage of the first-year premium, so the broker's service costs you nothing out of pocket — but that structure also creates an incentive to steer toward higher-premium plans. Knowing this, you should always ask the broker to show you the full range of quotes, not just the top two or three.

Plan G vs. Plan N: The Core Difference

Plan G is currently the most popular Medigap option for new Medicare enrollees, largely because Plan C and Plan F — which covered the Part B deductible — were closed to people who became Medicare-eligible on or after January 1, 2020, under the Medicare Access and CHIP Reauthorization Act of 2015. Plan G covers the Medicare Part A deductible, skilled nursing facility coinsurance, Part B excess charges, and foreign travel emergency care, leaving the enrollee responsible only for the annual Part B deductible, which is $257 in 2025.

Plan N covers the same list of benefits with two exceptions. First, it does not cover Part B excess charges — the amount a provider can bill above the Medicare-approved rate, capped at 15 percent above that rate. Second, it requires cost-sharing at the point of service: up to $20 for most office visits and up to $50 for emergency room visits that do not lead to a hospital admission. In exchange for accepting that cost-sharing, enrollees typically pay a monthly premium that runs $30 to $70 lower than Plan G from the same carrier in the same ZIP code, according to rate filings reviewed by the Kaiser Family Foundation.

The math favors Plan N for beneficiaries who see a physician fewer than six times a year and who live in a state where most providers accept Medicare assignment — meaning they agree not to bill excess charges. In states like Ohio, Florida, and Texas, assignment rates among Medicare physicians exceed 95 percent, making the excess-charge gap largely theoretical. In states with lower assignment rates, Plan G's protection against excess charges carries more practical value.

How to Compare Rates Across Carriers

When you sit down with an independent broker or use a state-licensed comparison platform, request quotes filtered by three variables: your age, your tobacco status, and your ZIP code. Medigap premiums are calculated using one of three rating methods — community rating, issue-age rating, or attained-age rating — and the method a carrier uses determines how fast your premium grows as you age. Attained-age policies start lower but increase as you get older; community-rated policies charge everyone in a pool the same premium regardless of age.

Beyond the current premium, ask the broker to provide each carrier's rate-increase history for the specific plan letter you are considering, going back at least five years. State insurance departments are required to approve rate filings, and those filings are public records. Some brokers maintain internal databases tracking this history; others will direct you to your state's department of insurance website, where approved rate changes are posted by carrier and plan type.

Financial strength ratings from AM Best or Standard and Poor's offer a secondary filter. A carrier rated A or better by AM Best has demonstrated the claims-paying reserves regulators require, but ratings alone should not override a significantly lower premium or a better rate-increase track record.

Using Your Open Enrollment Window Strategically

The single most important timing decision in Medigap is enrolling during your six-month Open Enrollment Period. During this window, which begins the first month you are both 65 and enrolled in Part B, federal law prohibits carriers from using medical underwriting. They cannot deny your application, charge you a higher premium based on health history, or impose a waiting period for pre-existing conditions.

Once that window closes, most states revert to underwriting rules that allow carriers to decline applicants with conditions ranging from diabetes to prior cancer treatment. Only a handful of states — including Connecticut, Maine, Massachusetts, New York, and Washington — maintain year-round guaranteed issue rights for Medigap policies. If you live outside those states and miss your Open Enrollment Period, switching carriers later becomes difficult and sometimes impossible without a qualifying life event such as losing employer coverage.

An independent broker who works with seniors regularly will flag this window proactively and help you time your Part B enrollment to maximize your options. That guidance, combined with a genuine multi-carrier rate comparison, is the core value proposition of working with a broker rather than calling a single insurer directly.

Sources & Further Reading

Frequently Asked Questions

What is the difference between an independent Medigap broker and a captive agent?

An independent broker holds appointments with multiple insurance carriers and can present quotes from all of them. A captive agent represents a single insurer and can only sell that company's products. Because Medigap benefits are federally standardized by plan letter, an independent broker's ability to compare premiums across carriers is the primary advantage for consumers shopping for the lowest rate.

Is Plan G or Plan N better for most Medicare beneficiaries?

Plan G offers more predictable out-of-pocket costs because it covers Part B excess charges and has no office-visit copays. Plan N typically costs $30 to $70 less per month but requires copays of up to $20 per office visit and up to $50 per ER visit. Beneficiaries in states with high Medicare provider assignment rates and low annual physician utilization often save money with Plan N over a full year.

How do I find a Medigap carrier's rate-increase history?

Rate increases must be approved by your state's department of insurance, and those filings are public records available on most state insurance department websites. You can also ask an independent broker directly — many maintain internal databases tracking five-year rate histories by carrier and plan letter. The Centers for Medicare and Medicaid Services does not publish carrier-specific rate histories, so state-level sources are the primary resource.

Can I switch Medigap plans after my Open Enrollment Period ends?

In most states, switching after your six-month Open Enrollment Period requires passing medical underwriting, which allows carriers to deny coverage or charge higher premiums based on health history. Connecticut, Maine, Massachusetts, New York, and Washington provide year-round guaranteed issue rights. In other states, qualifying life events such as losing employer-sponsored coverage may trigger a special enrollment right with guaranteed issue protections.

Do Medigap brokers charge a fee for their services?

Independent Medigap brokers are typically compensated through commissions paid by the insurance carrier, not by the consumer. Commission rates are built into the premium structure and do not add to your cost. Under NAIC model regulations, brokers must disclose their compensation if you ask. To ensure unbiased advice, request a full list of all available carrier quotes rather than accepting only the options the broker presents first.

What does attained-age rating mean for Medigap premiums?

Attained-age rating means your premium is based on your current age and increases each year as you get older, in addition to any general rate increases the carrier files with the state. Policies using this method often start with lower premiums than community-rated or issue-age-rated plans but can become significantly more expensive over a 10 to 20 year retirement horizon. Asking a broker which rating method a carrier uses is an essential part of any rate comparison.

Editorial Standards

This article was written by the Senior Health Times editorial team and is intended for informational purposes only. It does not constitute financial, legal, or medical advice. Coverage details and costs vary by plan, carrier, and state. Always verify information with official sources including Medicare.gov and your state insurance commissioner.

MedigapMedicare Supplement InsurancePlan GPlan NIndependent Insurance BrokerMedicare Open EnrollmentSenior Health InsuranceMedicare Cost Sharing

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