When you’re on Medicare, the last thing you want is a surprise bill that throws off your budget. That’s where Medigap plans—also called Medicare Supplement plans—come in. They help cover the “gaps” in Original Medicare, like deductibles, coinsurance, and copays. But here’s the big question most people ask first:
Which Medigap plan costs the least?
Let’s break it down in plain English.
The Lowest-Priced Medigap Plans
If you’re shopping strictly by monthly price, Medigap Plan K and Plan L are often the cheapest options. Why? Because they don’t cover as much up front. You’ll pay less in premiums each month, but you’ll face higher out-of-pocket costs when you actually use medical care.
For example:
- Plan K pays 50% of certain costs until you hit the annual out-of-pocket maximum ($7,220 in 2025). After that, it covers 100%.
- Plan L works similarly but pays 75% until you reach its lower out-of-pocket cap ($3,610 in 2025).
Think of it like buying a smaller umbrella. It costs less, but it won’t keep you as dry in a storm.
Medigap Plan K and L cost less each month than Plan G, but they cover less—so while your premium is lower, you’ll pay more out of pocket for care.
Why There’s No “One Price Fits All”
Even though Medigap benefits are standardized (Plan K is the same in Pennsylvania as it is in Texas), the price is not. Your premium depends on things like:
- Your age
- Your gender
- Your zip code
- Whether you use tobacco
- Which insurance company you buy from
That means your neighbor might pay a different amount for the exact same plan.
The Most Popular Plan (Even If It Costs More)
While K and L usually win the prize for lowest premiums, most people don’t pick them. Instead, Medigap Plan G has become the go-to choice.
Why? Because it covers almost everything except the small Part B deductible. Many people like the peace of mind of knowing their bills will be predictable, even if the monthly premium is higher.
In fact, Plan G often ends up being a better value in the long run, because you avoid big surprise bills that can easily wipe out any savings from a cheaper plan.
Tips to Keep Costs Down
No matter which plan you’re considering, here are a few ways to save:
- Enroll on time. The best time to sign up is during your Medigap Open Enrollment Period (7-month window that begins 3-months before you're first enrolled in Medicare Part B). During this time, insurance companies can’t deny you or charge you more for health reasons.
- Compare companies. Since benefits are standardized, the only real difference is price and service. Always compare quotes from multiple carriers.
- Think long-term. Don’t just look at today’s price. Ask your agent about each company’s history of rate increases. A slightly higher premium now could save you from big jumps later.
Tip: Don’t mix up your Medigap Open Enrollment Period with the Annual Enrollment Period (October 15–December 7). Medigap enrollment is a one-time window tied to when you first join Medicare Part B, while the Annual Enrollment Period is when you can make changes to Medicare Advantage (Part C) or Part D drug plans.
Bottom Line
If you want the lowest monthly premium, Plan K and Plan L usually come out on top. But if you want the best balance of cost and coverage, many people choose Plan G.
The key is finding the plan that matches your budget, health needs, and peace of mind.
Find the best Medicare Supplement plan for you by calling us today: 833-265-9655.
Ready to Find Your Plan?
Choosing the right Medigap plan doesn’t have to be confusing. Our licensed agents are here to walk you through your options, explain the costs, and help you feel confident in your choice.
Let us know the best way to reach you, and we’ll have an agent get in touch directly.
