The cheapest Medigap plan isn't always the one with the lowest premium, total cost depends on your health. Here's how to find real savings.
Which Medigap plan has the lowest premium?
By monthly premium alone, high-deductible Plan G and Plans K and L are typically the cheapest, because they shift more cost-sharing to you. High-deductible Plan G has a very low premium but a large annual deductible (around $2,800). Plans K and L cover only 50% or 75% of costs until you hit an out-of-pocket cap. Among full-coverage plans, Plan N usually has a lower premium than Plan G. But premium isn't the whole story, the cheapest plan overall is the one with the lowest total cost given how much care you use. Call 1-800-MEDIGAP (1-800-633-4427) to compare true costs.
How to find the cheapest plan for you
Finding the genuinely cheapest plan means comparing both premiums and expected out-of-pocket costs. First, decide how much risk you're comfortable with: low-premium plans like high-deductible Plan G save money if you stay healthy but cost more if you need lots of care. Second, compare carriers, because Medigap benefits are standardized, the same Plan G can cost hundreds more from one insurer than another. Third, check the rating method, since the cheapest plan today might rise fastest as you age. A licensed agent at 1-800-MEDIGAP compares every carrier free and finds your lowest real cost, not just the lowest sticker price.