A method for operating a multi-level bridge power converter of an electrical power system connected to a power grid includes receiving a commanded state for one or more switching devices thereof. The method also includes receiving a gate-emitter voltage of one or more of the switching devices. Further, the method includes comparing, via at least one comparator, the gate-emitter voltage of the one or more switching devices to a reference voltage range corresponding to the commanded state of the one or more switching devices. In addition, the method includes determining an actual state of the one or more switching devices based on the comparison. Thus, the method also includes implementing a control action based on the actual state of the one or more switching devices.