WHICH MEDICARE SUPPLEMENT COMPANIES HAVE HAD THE HIGHEST PREMIUM INCREASES SINCE 2023?

Michael T. Braden September 27, 2026 MEDICARE PLANS

Thank you for your interest in today's blog article on which Medicare Supplement/Medigap Insurance Companies have had the highest premium increases since 2023. In this article, we will discuss the companies that have had the highest premium increases, what drove these premiums higher to begin with, and what you, as a Medicare beneficiary, can do to better insulate yourself in the future. Lastly and perhaps more importantly, we will pull back the curtain and explain some things that most of you have never heard before about the most popular Medicare Insurers in the country.

With inflation being part of daily life for the past few years, healthcare has certainly been affected. Not a day goes by that we don't speak with a client about their concerns over rising premiums for their Medicare Supplement plans, and most often, this concerns them with a Medigap Plan F or Medigap Plan G. Being concerned over increases to any of our basic costs can be worrisome for many of those who have retired or are planning to retire in the near future.

WHICH MEDICARE SUPPLEMENT COMPANIES HAVE HAD THE HIGHEST PREMIUM INCREASES SINCE 2023?

Photo of Braden Medicare Insurance's Medicare Supplement And Medigap Premium Increases Poster

In all fairness to anyone who owns a business in America, everyone is entitled to make a profit; otherwise, why start a business unless it is strictly a philanthropic endeavor? Regular and understandable healthcare premiums go up and rarely go down. Everyone understands that; however, the rate at which some companies have increased their premiums in recent years certainly makes it feel like some carriers are price gouging, greedy, and, in general, taking full advantage of the current inflationary period.

Additionally, as a bit of a disclaimer, we are contracted with most of the highest-rated Medigap carriers in the country, so this article is not intended to condemn or besmirch any company(ies); rather, it is intended to advise and inform Medicare beneficiaries who may not be privy to the information provided in this article if left to their own devices.

WHY MEDICARE SUPPLEMENTS AND MEDIGAP PLANS HAVE FELT A NEED TO RAISE THEIR PREMIUMS

Businesses can always justify price increases to customers, and most of them are legitimate. But, as you will see for yourself, some companies are more greedy than others.

Here are the main reasons companies have raised their Medicare Supplement/Medigap premiums:

• Healthcare costs continue to rise, sometimes as fast as or faster than the current inflation rates.

  
  

• Newer medicines, especially those for Arthritis, Cancer, Alzheimer's, and Dementia, are increasingly expensive.

  
  

• Medicare Part D Insurance companies have had a rough time recently, partly because Medicare Part D plans are increasing Premiums and deductibles.

  
  

• More Americans are turning 65 now than in any previous period in our history. The remaining Baby Boomers are retiring at a rate of 10,000 people per day, and that rate is projected to continue through the end of the decade.

  
  

• The latest Medicare Beneficiaries are savvy; they are taking advantage of everything Medicare offers because they are not sure Medicare or Social Security will continue as it is now.

• Plan G is the most desirable Medigap/Medicare Supplement Plan since 2020. Many Medicare beneficiaries still have Plan F, even though many moved to Plan G to save money. Plan N is up, but far less than Plan G and Plan F. And High-Deductible Plan Gs have had the lowest increase percentages since 2023. Historically, Insurance companies reward plans where the members/consumers have skin in the game.

• Many companies that gave away free Healthcare to migrants and immigrants under the Biden administration lost a ton of money when the bills were never paid.

COMPANIES WHO HAVE INCREASED THEIR MEDICARE SUPPLEMENT/MEDIGAP PREMIUMS THE MOST SINCE 2023

Overall, Medigap/Medicare Supplement Plans F, G, and N have had the steepest premium increases over the past three years. Plan G led the way, followed by Plan F, with Plan N bringing up the rear.

BLUE CROSS BLUE SHIELD

AARP/UNITED HEALTHCARE

MUTUAL OF OMAHA

HUMANA

AETNA

INSURANCE COMPANY OF NORTH AMERICA (CHUBB INSURANCE)

WHAT YOU CAN DO ABOUT THESE RATE INCREASES

In my experience, clients who are in good health tend to hunker down and weather the storm. Others look to compare rates and apply for the same lettered Medigap plan or Medicare Supplement plan with another carrier. Many people have traded down from Plan F or Plan G to Plan N once they understand they can save money, face fewer future increases, and are in good health.

What most people do not understand is that every Lettered Medigap/Medicare Supplement Plan is standardized. If a plan is standardized, it means it has the same benefits and coverage in all 50 states. The only other difference is whether a plan offers a free Gym Membership, and to the best of my knowledge, only AARP/UHC, BCBS, and some Humana plans include it as a benefit. You can join a gym through the partnerships most other major carriers offer for $28-$38 per month.

Nationwide, Plan N currently costs $30-$40 less per month in premiums than Plan G. Another option that isn't for everyone is a High-Deductible Plan G. Premiums are about $100 less per month. Still, if you are in good health and your finances are steady and solid, it might be a good option.

Many people ask if they should consider moving to a Medicare Advantage Plan (Medicare Part C). In all honesty, I have never recommended that anyone move from Original Medicare to Medicare Advantage unless the beneficiary qualified for one of the Medicare Chronic Special Needs Plans (C-SPN). I say this because the coverage is inferior, and god forbid, if something happened to you, it could prevent you from ever qualifying for a Medicare Supplement/Medigap plan in the future. Lastly, Most Medicare Advantage Plans have a maximum out-of-pocket expense of over $5K per year. So if your Plan G were $200 per month, that would be $2,400 per year plus the $283 Part B deductible, so your Maximum out-of-Pocket expenses would be $ 2,683 compared to the Medicare Advantage National Average of $5,700.

NOTE: Most people do not know that Medicare guarantees its coverage. Meaning that if a Medicare Supplement/Medigap insurance carrier ever decided to get out of the Medicare Supplement business, Medicare would step in and give everyone who has a policy with that company 6 months' Guaranteed Issue Rights to purchase any Medicare Supplement Plan that is offered in your state, without having to answer any Health Questions.

WHAT SHOULD YOU LOOK FOR IN A MEDIGAP INSURANCE COMPANY?

1. Financial Strength Rating of A- or Higher.

2. A solid history of normal, not excessive premium increases.

3. Look at how many people they insure in your state and nationally.

4. How long have they continuously operated with the same Parent Company in your state?

5. Never, ever pick a plan just because you're getting a free gym membership.

6. Most people will tell you never to pick the lowest quote, but now that you know Medicare has your back 100%, you decide.

7. A company with a decent Household Discount.

WHAT SOME COMPANIES WILL NEVER TELL YOU

AARP/United Healthcare is the largest Health Insurance company in the US. They are a great company, but I very much recommend them as a first choice because of this little-known fact. They have declining discounts, so in year one you get 11% off their rack rate. Then, in year two, it goes to a 9% discount,nt and then it continues to lose 1% per year. And guess what, premiums can increase every year, so they have you over a barrel. As your discount shrinks, your rates rise, and the discounts keep falling for 9 years, until they reach 0%. Does that sound like a good deal to you?

Humana has the worst reputation for requiring its members to get Prior Authorization for Prescriptions and some Testing, even with their Medicare Supplement/Medigap plans. They are absolutely considered the worst when it comes to how they manage their Medicare Advantage plan members. They have also earned a reputation for paying invoices to Doctors and hospitals that treat Medicare beneficiaries outside the US slowly.

Growing up, BCBS (Blue Cross and Blue Shield) was considered the Gold Standard for Healthcare. But with Medicare, that does not matter. In particular, with Medicare Supplement and Medigap plans. Because all Lettered plans are standardized, you are not getting anything extra or special from BCBS. Lastly, to be fair to BCBS, they are all Franchises. BCBS of Arizona is not related to BCBS of Florida or Michigan. Because of that, they are at a disadvantage, having to reinvent the wheel in each state they operate in because they cannot take advantage of regional or National offices.

Mutual of Omaha (M of is a great company, solid, financially sound, but they have lost more money than they anticipated when they partnered with some Medicare Advantage Plans in certain markets. They have taken more increases than any other company, aside from AARP/UHC and BCBS, in most markets.

I have never had any problems or complaints with Bankers Fidelity Insurance underwritten by Capital Life Assurance. However, I have had many complaints about Bankers Life Insurance Medicare members being misled and mistreated.

Physicians Mutual is a well-regarded company. However, in just about every market, they mislead the public and take advantage of Medicare beneficiaries. How do they do that? Excellent question;n, let me explain. They have trademarked a product called their INNOVATIVE PLAN G. It acts like a High-Deductible Plan G for the first 3 full years you have it; then, it reverts to a regular Plan G in year 4. That sounds great, except Physician's Mutual has never had the lowest Plan G rates in any market for the past 11 years. If you want to compare their rates, compare their regular Plan G against all the other normal Plan Gs, and then you can make a fair, apples-to-apples comparison.

In my humble, professional opinion, no one should ever do business with Med Mutual Protect or Med Mutual of Ohio. I can happily explain my reasoning to you in person, over the phone, or via private email.

Medico, a Wellabe company, is probably the best Medicare carrier you have never heard of. They are like a smaller model of Mutual of Omaha. Located in Des Moines, IA, they have been in business since 1929. They operate in most states but not all. Their customer service team is unbelievably nice and well-trained, and they really go out of their way to take care of their clients and brokers. Few companies let me call and speak directly to their underwriters on a first-name basis if I have a question. I love Medico, and if they are available in your Market, you should at least see whether their rates are competitive.

WRAPPING THINGS UP

I hope you enjoyed today's article on which Medicare Supplement/Medigap Insurers have had the biggest premium increases over the past three years. As mentioned, every business is entitled to run as it sees fit, but it is eye-opening that the top five companies that have raised premiums since 2026 have even had the gall to increase their Plan G premiums twice in the same year. Thank you to AARP/United Healthcare and CHUBB Insurance, which currently operates under the Insurance Company of North America, formerly ACE Medicare Supplement and Chubb Medicare Supplement.

We shared insights into why Medicare Supplement/Medigap premiums have increased so much in recent years. We took you behind the curtain to give you what we hope was a refreshing sharing of information on what you can do to lower your Medigap premiums during times of high inflation, what the cause of the inflation has been, and perhaps more honest information about many of the top Medicare Supplement/Medigap insurers in America.

You will find a lot of interesting and additional information on our website at www.bradenmedicare.com. While you are on the website, you can complete the Contact Us page or, if you prefer, email me directly at mike@bradenmedicare.com or call me at (480) 225-1393.

You can also call Medicare directly with questions at 1-800-MEDICARE (1-800-633-4227) or visit the Medicare.gov website to start a live chat. TTY users should call 1-877-486-2048.