Plan G Is Standardized — Carriers Are Not
Federal law standardizes Medigap plan benefits. Every carrier's Plan G covers the same medical services. What is not standardized is the insurance company itself — its financial strength, rate history, claims handling, and long-term pricing strategy.
Choosing a Medigap carrier is a long-term relationship. Unlike Medicare Advantage plans, which you can switch annually during open enrollment, switching Medigap carriers after your initial open enrollment period requires medical underwriting. If your health has changed, you may not qualify.
AM Best Financial Strength Rating
AM Best rates insurance company financial strength on a scale from A++ (Superior) to D (Poor). For a plan you may hold for 20+ years, financial strength matters. Look for carriers rated A or better by AM Best.
In Florida, the major Medigap carriers — Mutual of Omaha, Aetna, United American, Cigna, Humana, Transamerica, and others — all maintain strong AM Best ratings. But not all smaller or newer entrants do. An independent agent can provide current ratings for any carrier you're considering.
Rate History: The Most Important Factor Nobody Checks
The starting premium is the worst way to evaluate a Medigap carrier. The rate increase history over 5–10 years tells you far more.
Some carriers have historically kept increases modest — 3–6% per year, roughly tracking inflation. Others have shown volatile pricing, with years of minimal increases followed by sharp 12–18% jumps as their insured pool ages and claims rise.
An independent agent who has been placing clients for years can often share their experience with carrier rate behavior. Ask directly: “Which carriers have shown the most stable rates in Florida over the last five to ten years?”
Household Discounts and Other Savings
Many Florida Medigap carriers offer household discounts when two members of the same household both have policies with the same company. These discounts typically run 7–12% and apply to both policies. If you and your spouse are both approaching Medicare age, this is worth factoring into your comparison.
Some carriers also offer annual pay discounts (paying 12 months upfront instead of monthly), non-tobacco discounts, and other adjustments. An independent agent compares all-in pricing across carriers, not just the base rate.
Claims Experience and Customer Service
When you actually use your Medigap plan, you want claims paid quickly and correctly. The Florida Department of Insurance handles consumer complaints — and complaint ratios (complaints per 1,000 policyholders) are publicly available. Lower is better.
Most major Medigap carriers handle claims smoothly — Medicare processes the primary payment and the Medigap carrier receives a “crossover” claim automatically. In most cases, you don't need to do anything. But when issues arise, responsive customer service matters.
Why Working With an Independent Agent Matters
A captive agent — one who works for a single insurance company — can only offer that company's products. They have no ability to compare rate history across carriers, household discounts, or financial strength ratings side by side.
An independent agent like Rina Stuart works with multiple Florida Medigap carriers and has placed clients with many of them over 18 years. That experience generates real insight into which carriers have behaved well for clients long-term — insight you can't get from a website or a single company's agent.
The comparison is free. The decision could affect your budget for the next 20 years. Call us.