My Medicare Supplement Premium Keeps Going Up in Buffalo, NY — Should I Switch Companies?
New York gives Medicare Supplement policyholders more flexibility than many states — which makes comparing rates especially important.
Question:
I live in the Buffalo area and have had the same Medicare Supplement
policy for several years. The coverage works well for me, but the
premium keeps increasing.
I don’t necessarily want to give up Original Medicare or change the
type of supplement I have. I would just like to know whether another
insurance company might offer the same plan at a better price.
Can I switch Medicare Supplement companies in New York, and what should
I compare before making a change?
Answer: Yes — And New York Gives Medigap Consumers an Important Advantage
If your Medicare Supplement premium keeps increasing, it can make sense
to review what other insurers are charging.
This is particularly important in New York because standardized Medicare
Supplement plans can have very different premiums depending on the
insurance company.
If you have Plan G, for example, another insurer’s standardized Plan G
provides the same standardized Plan G benefits.
But the monthly premium can be very different.
Same standardized Plan G benefits.
Potentially very different monthly premiums.
Buffalo Medicare Supplement Rates Really Can Vary by Company
New York makes Medicare Supplement rate comparisons easier because the
New York State Department of Financial Services publishes Medicare
Supplement premiums by geographic region.
Buffalo has its own Medigap pricing region, generally including ZIP codes
beginning with 140 through 143 and 147.
The state’s current 2026 comparison tables show meaningful differences
between what different insurers charge for standardized plans such as
Plan G and Plan N in the Buffalo region.
That means someone who has remained with the same Medicare Supplement
company for many years may want to periodically determine whether their
premium is still competitive.
Why Does My Medicare Supplement Premium Increase?
A premium increase does not necessarily mean your insurance company is
charging you more because you personally became sick or used your policy.
Medicare Supplement premiums can increase because of factors such as
healthcare costs, claims experience, changes in Medicare benefits and
insurer-wide rate adjustments.
New York Medicare Supplement rates are subject to state insurance
regulation and prior approval requirements.
Here’s What Makes New York Different
New York has unusually strong Medicare Supplement enrollment protections.
Under New York law, an insurer offering Medicare Supplement insurance
must accept applications throughout the year.
An insurer cannot deny your Medigap application or charge you a different
premium because of:
- Your health status
- Your medical conditions
- Your claims history
- Whether you are currently receiving healthcare services
That can make comparing Medicare Supplement companies in New York much
easier than it is in many other states.
Does My Age Determine My Medigap Premium in New York?
New York Medicare Supplement policies use community-rated pricing.
For a particular Medicare Supplement plan offered by an insurer, premiums
cannot be individually adjusted because one person is older, sicker,
uses more healthcare or has more medical claims.
Rates may differ by geographic region and insurance company, which is why
someone living in Buffalo can see different prices from several insurers
offering the same standardized plan.
Can I Switch From One Plan G Company to Another?
New York’s year-round Medigap protections generally give Medicare
beneficiaries the ability to apply for available Medicare Supplement
coverage throughout the year without being denied because of health.
That creates an important opportunity for someone whose existing Plan G
premium has become expensive.
Instead of assuming that you must continue paying the higher premium,
you can compare the Plan G rates offered by other companies in your area.
Example
Imagine you’re paying $450 per month for Plan G.
If another available Plan G were $350 per month, the difference would be:
$100 per month = $1,200 per year
That doesn’t automatically mean you should switch, but a difference that
large would certainly be worth reviewing.
Don’t Compare Plan G With Plan N by Premium Alone
Changing insurance companies is different from changing Medicare
Supplement plans.
If you’re comparing Plan G from one insurer with Plan G from another,
you’re comparing the same standardized benefit package.
But if you change from Plan G to Plan N, you’re changing the benefits and
cost-sharing structure.
Plan N may have a lower premium, but it can include certain office visit
and emergency room copayments and does not cover Medicare Part B excess
charges.
So first decide:
Am I looking for the same coverage at a better price — or am I willing
to change my coverage to reduce my premium?
What Should I Compare Between Medigap Companies?
- The monthly premium
- The exact standardized plan letter
- Available discounts
- The company’s current rate in the Buffalo region
- Recent premium history
- The insurer’s financial strength
- Customer service and administrative experience
- When the new coverage will become effective
Should I Always Choose the Cheapest Medicare Supplement Company?
Not necessarily.
Price is important, particularly because standardized Medigap plans make
benefit comparisons relatively straightforward.
But the lowest premium today is not a guarantee that the company will
always remain the least expensive.
Future insurance rate increases cannot be predicted with certainty.
That’s why it can make sense to consider the current premium together
with the company’s financial strength, customer service and available
information about previous rate changes.
What About Pre-Existing Conditions When Switching in New York?
New York insurers cannot deny a Medigap application or charge you more
because of a pre-existing medical condition.
However, New York rules can allow a pre-existing-condition waiting period
of up to six months in certain situations.
Prior creditable health coverage may reduce or completely eliminate that
waiting period depending on your circumstances.
This is one reason to verify your new policy’s effective date and any
applicable portability provisions before terminating existing coverage.
Don’t Cancel Your Current Medicare Supplement Too Soon
Even in New York, where switching Medigap companies can be easier,
don’t cancel your current policy simply because you receive a lower quote.
Make sure the new policy has been issued, confirm its effective date,
review the coverage and understand when your old policy should end.
Avoid creating an unnecessary gap in coverage.
Is It Worth Reviewing My Medicare Supplement Every Year?
You don’t necessarily need to change companies every year.
But reviewing your rate periodically can make sense — particularly after
receiving a noticeable premium increase.
You may discover that your existing insurance company is still competitively
priced.
Or you may discover that another insurer offers the same standardized plan
at a significantly different premium in the Buffalo market.
The Bottom Line for Buffalo Medicare Beneficiaries
If your Medicare Supplement premium keeps increasing, you don’t
necessarily have to accept the higher rate without looking at alternatives.
New York’s Medigap protections make comparison shopping particularly
worthwhile because eligible consumers can generally apply throughout
the year without being denied because of their health.
Don’t just ask:
“How much did my premium increase?”
Ask:
“What are other companies charging for the same Medicare Supplement
plan in Buffalo?”
If your existing rate is competitive, staying with your current insurer
may make sense. If it isn’t, comparing available alternatives could
potentially reduce your monthly insurance expense.
Has Your Medicare Supplement Premium Increased in Buffalo, NY?
Before accepting another premium increase, see how your current
Medicare Supplement rate compares with other available options
in Western New York.
Speak with a licensed Medicare insurance agent at Mintco Financial.
Medicare Disclosure:
Mintco Financial is not connected with or endorsed by the U.S.
government or the federal Medicare program.
Medicare Supplement insurance, also known as Medigap, is private
insurance designed to supplement Original Medicare. Standardized
Medigap benefits are established by applicable federal and state law.
Premiums and availability vary by insurance company and geographic area.
New York State requires insurers offering Medicare Supplement insurance
to accept applications throughout the year. Insurers may not deny an
applicant or make premium distinctions because of health status, claims
experience, medical condition or receipt of healthcare services.
Eligibility requirements may differ for certain group policies.
New York Medicare Supplement policies are community rated. Premiums
for a particular standardized plan may vary by insurance company
and geographic region.
A pre-existing-condition waiting period of up to six months may apply
in certain situations. Prior creditable coverage may reduce or eliminate
an applicable waiting period. Individual circumstances should be reviewed
before replacing existing coverage.
Do not terminate existing Medicare Supplement coverage until replacement
coverage, its effective date and any applicable limitations have been
confirmed.
Insurance premiums and future rate changes cannot be guaranteed.
Historical rate changes do not predict future premium adjustments.
This material is provided for educational purposes only and is not
legal, tax or medical advice. For official Medicare information,
visit Medicare.gov or call 1-800-MEDICARE.