All policies designated “Medicare Supplemental” or “Medigap Plans” are governed by federal and state laws. Medigap insurance companies can only sell standardized Medigap policies. Each must offer the same basic benefits, no matter who sells it, the only difference between plans usually being cost.
A Google search for Medigap Plans turns up many websites offering free quotes. Be sure to read and understand descriptions of various policies so as not to compare apples to oranges. For example, compare Medigap Plan C from Mutual of Omaha with Medigap Plan J from AARP. Medicare Supplemental.com explains this in detail.
Suppose an insurance company offers Medigap Plans with all the features you want at the lowest price. What good is that if it is no longer in business if you need it? You want a company with enough assets to remain solvent regardless of business fluctuations. How long have they been in business? Do they have enough experience with risk management? Have they had problems with regulatory agencies? The major ratings agencies are A.M. Best, Standard and Poor’s, and Moody’s. They are among the handful of companies designated as Nationally Recognized Statistical Rating Organizations by the United States Securities and Exchange Commission. They issue financial-strength ratings measuring insurance companies’ ability to pay claims. Ratings systems vary with the rater, so look at their websites, learn what the ratings mean, and determine the minimum you will accept. Strike low-rated companies from your list.
Don’t compare prices until screening out Medigap Plans from companies with inadequate ratings. Consider every fee in your calculation and consider less-expensive plans to see if they meet your needs.