Your Medigap Premium Just Went Up: Here’s What You Need to Know

Quick Answer: Medigap premiums are rising fast. CBS News recently reported Plan G rate increases ranging from 12% to over 26% in early 2026, with some policyholders seeing jumps as high as 45%. If your premium has gone up, you may have options to find better coverage, but timing and eligibility rules matter. Read on to understand what is driving the increases and what you can do right now.

If you have a Medicare Supplement (Medigap) policy, there is a good chance your premium has gone up, maybe significantly. And if it has not yet, it likely will soon.

This is not a rumor. CBS News recently reported what we have been seeing firsthand: Medigap premiums are rising at rates that would have been unthinkable just a few years ago.

What is Medigap? Also called a Medicare Supplement plan, Medigap is private insurance you buy alongside Original Medicare (Parts A and B). It helps cover out-of-pocket costs that Medicare does not pay, such as deductibles, copayments, and coinsurance. Without it, there is no annual cap on what you could owe.

Here is what is happening, why it matters, and what you can do about it right now.

The Numbers Are Hard to Ignore

Brokers across the country are reporting double-digit rate increases from major insurers, including Aetna, Blue Cross Blue Shield, Cigna, Humana, Mutual of Omaha, and UnitedHealthcare. According to CBS News reporting, early 2026 state insurance commissioner filings show Plan G rate increases ranging from just over 12% to more than 26% in the first quarter, based on analysis by Telos Actuarial, a Nebraska-based consulting firm.

One Illinois broker with nearly 50 years of experience described watching 80 of his clients get hit with a 45% increase overnight, effective immediately and not on their policy anniversary. In his own words, he had never seen anything like it in his career.

According to a 2024 analysis by KLC Actuarial for the American Association for Medicare Supplement Insurance, half of all Medigap companies had already implemented double-digit Plan G rate increases in the prior year. The trend has only accelerated since. “Five years ago, it was exceedingly uncommon to have a carrier with a rate increase of more than 10%,” Chalen Jackson, vice president for government affairs at Integrity, told CBS News. “Now it’s very uncommon to see a rate increase below 10%, and it’s not uncommon to see it over 20%.”

Why Is This Happening?

Several factors are driving the increases:

• Higher medical service use among Medicare beneficiaries
• Rising labor and healthcare costs across the board
• An aging population putting more pressure on insurers’ claims
• People switching out of Medicare Advantage plans, sometimes due to their plans being discontinued, who then enter the Medigap market with existing health conditions. You can read more about what those Medicare Advantage changes mean for Florida seniors in our 2026 guide.

Insurers are adjusting their pricing to keep up. And beneficiaries are left absorbing the difference.

The Problem Is Bigger Than Just the Cost

Here is what concerns us most. Once you are past your initial enrollment window, your options to switch Medigap plans become limited, and in most states, insurers can use your health history against you.

If you have been on a Medicare Advantage plan and want to move back to Original Medicare with a Medigap supplement, you typically have just 12 months to do so without medical underwriting. After that, you can be denied coverage or charged higher premiums because of a pre-existing condition.

A lot of people do not realize that until it is too late.

There are some exceptions, such as if your Medicare Advantage plan was discontinued. But most people are navigating this without knowing those protections exist or whether they qualify.

What You Can Do Right Now

The good news is that you are not without options. But timing matters.

1. Review your current plan. If your premium has gone up, it is worth asking whether your current plan is still the most competitive option available to you. The team at Medicare Information Project can run that comparison for you at no cost.
2. Know your enrollment windows. If you are still in your initial enrollment period, this is the most flexibility you will ever have. Do not wait.
3. Understand Florida’s limits. Some states have a “birthday rule” that lets you switch Medigap plans once a year without health screening. Florida is not one of those states. Florida residents generally still face medical underwriting when switching plans unless they qualify for a specific guaranteed-issue exception. That makes it even more important to get this right from the start.
4. Talk to an independent broker. An independent agent, one who is not tied to a single insurance company, can compare rates across multiple carriers and find you a better option. Working with an independent broker does not add to your plan premium. Brokers are typically compensated by the carrier under CMS-regulated rules.

We’re Here to Help You Sort This Out

At Medicare Information Project, we work with over 100 plans from the most respected carriers in Florida. We do not work for any single insurance company. We work for you.

If your premium has gone up, if you are not sure whether your plan is still the right fit, or if you are approaching 65 and want to get this right the first time, we would love to talk.

Schedule your free consultation today. No pressure, no obligation. Just a real conversation about your options with someone who knows this market.

Frequently Asked Questions

Why are Medigap premiums going up so much right now?

Medigap premiums are rising because insurers are experiencing higher claims costs across the board. Medicare beneficiaries are using more medical services, healthcare and labor costs are climbing, and the population on Medicare is getting older. On top of that, when Medicare Advantage plans exit a market and people shift back to Medigap, insurers take on policyholders whose health they cannot screen for, adding further pressure on rates.

Is my Medigap plan going to keep going up every year?

Medigap rates are not guaranteed and can increase at any time. According to a 2024 analysis by KLC Actuarial for the American Association for Medicare Supplement Insurance, half of all Medigap companies implemented double-digit Plan G rate increases in a single year. Premium increases depend on your insurer, your plan type, your state, and broader market conditions. That is why it is worth reviewing your options annually rather than simply renewing without comparing alternatives.

Can I switch to a different Medigap plan if my premium gets too high?

You may be able to switch, but your options depend on when you enrolled and where you live. During your initial enrollment period you can switch freely without health screening. After that window closes, most states allow insurers to ask health questions and potentially deny coverage or charge higher rates. Florida does not have a birthday rule, so Florida residents typically need to qualify for a guaranteed-issue exception to switch without underwriting. For a full breakdown of your windows and options, visit our Medicare Enrollment Periods in Florida guide.

Is it better to switch to Medicare Advantage to save money?

Switching to Medicare Advantage can lower your monthly premium, but it comes with tradeoffs that are worth understanding before you decide. These plans typically require you to use a network of providers. And if you later want to return to Original Medicare with a Medigap supplement, you only have a 12-month window to do so without facing medical underwriting. After that, you could be denied coverage or charged more because of a pre-existing condition. Our guide on comparing Medicare Supplement vs. Medicare Advantage plans in Florida breaks down the tradeoffs in plain language.

How much does it cost to work with an independent Medicare broker?

Working with an independent broker does not add to your plan premium. Brokers are typically compensated by the carrier under CMS-regulated rules, so your cost is the same whether you work with a broker or contact an insurer directly. What you gain is access to more options and someone who can walk you through them clearly. At Medicare Information Project, that is exactly what every free consultation is designed to do.

Medicare Information Project is an independent Medicare brokerage serving Tampa, Brandon, and the surrounding communities in Florida. Our licensed agents represent plans from over 100 carriers and provide free, no-pressure consultations to help you find the right coverage.