The bottom line: Physicians Mutual stands out from competitors with an “innovative” version of Medigap Plan G, which offers a sizable discount on its standard Plan G premiums in exchange for adding an annual deductible for a few years. The company trails competitors on pricing for standard plan types and complaint rates, however. Jump to: Full Review
Physicians Mutual Medicare Supplement pros and cons
Pros
- Innovative plan option: Physicians Mutual’s innovative Plan G might be priced lower than competitors' standard Plan G options.
- Discounts: Premium discounts are offered for living with another adult and setting up automatic bank account payments (availability varies by location and other factors).
Cons
- Pricing: Physicians Mutual’s premiums for standard plan types are higher than most competitors, on average.
- Customer complaints: Physicians Mutual beneficiaries file complaints about the company’s Medicare Supplement Insurance plans at above-average rates.
Compare against other providers
🔍 AARP/UnitedHealthcare Medigap
» More options in our roundup of the best Medicare Supplement Insurance companies
Compare against other providers
🔍 AARP/UnitedHealthcare Medigap
» More options in our roundup of the best Medicare Supplement Insurance companies
Our full review
Why trust NerdWallet
45+ Medicare companies and brands analyzed by our team of experts.
30+ years of combined experience covering Medicare and personal finance.
Governed by NerdWallet's strict guidelines for editorial integrity.
NerdWallet’s Medicare content, including articles, reviews and recommendations, is produced by a team of writers and editors who specialize in Medicare. Their work has appeared in The Associated Press, Washington Post, Nasdaq, MSN, MarketWatch, Yahoo! Finance and other national and regional media outlets. They have been cited in publications including Healthline, and appeared on NerdWallet's "Smart Money" podcast.
Physicians Mutual Medicare Supplement Insurance rating
Physicians Mutual Medicare Supplement Insurance earned 2.5 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account pricing, coverage options, online quote availability, complaint data from the National Association of Insurance Commissioners and more.
Physicians Mutual Medicare Supplement plan types
Here are the Medicare Supplement Insurance plan types Physicians Mutual offers for any Medicare member:
Medigap Plan A — the basic benefits included in every Medigap plan without any extras.
Medigap Plan G — the highest-coverage option available to new Medicare members. Available as a high-deductible plan and/or an innovative plan with a deductible in certain locations.
Medigap Plan N — a plan with lower premiums but higher copays. Available in states where Physicians Mutual wasn’t approved to offer its innovative version of Medigap Plan G, according to a company representative.
Physicians Mutual also offers Medigap Plan F and the high-deductible version of Plan F (in certain locations) for individuals who were first eligible for Medicare before 2020. Newer Medicare members can't buy these plans from any insurance company.
In addition, Physicians Mutual offers plans in Wisconsin that fit the state's Medigap standards. (Massachusetts, Minnesota and Wisconsin don't use the same Medigap standardization system as the rest of the country.)
Physicians Mutual Innovative Plan G
Physicians Mutual offers a unique “innovative” version of Plan G in addition to the standard version. (Innovative plans are plans that have special approval from the insurance commissioner to offer new or different benefits on top of what’s included in the standardized version of a plan.)
Physicians Mutual’s innovative plan has lower premiums, but it adds a deductible for the first three calendar years of the plan. All other benefits are the same.
(You’re also responsible for the Medicare Part B deductible with either standard or innovative Plan G, but standard Plan G doesn’t have its own additional deductible.)
After the third calendar year with the innovative version of Plan G, the deductible goes away, but the lower premiums remain in effect.
How premiums compare
Physicians Mutual says its premiums for innovative Plan G can be more than 25% cheaper compared to the company’s standard Plan G.
When NerdWallet evaluates companies’ premiums, we use a standard set of cities with average premiums, lower premiums and higher premiums. In Dallas, the only city in our standard set where Physicians Mutual offers the innovative plan, its premiums were about 19% cheaper than Physicians Mutual’s standard version.
We checked a dozen more cities using the quote tool on Physicians Mutual’s website and found that most showed prices that were about 28% lower for innovative Plan G, but a couple had discounts smaller than 25%.
Specifics will vary based on location and other factors, so it’s a good idea to check prices and plan offerings for your own area and circumstances to see how they compare.
More Nerdy Perspective
Physicians Mutual isn't one of NerdWallet's top-scoring companies for Medicare Supplement plans — but it does offer some unique options. You could consider Physicians Mutual for the “innovative” plans, which might have lower premiums over the long term. But compare quotes carefully, as other companies’ plans might offer low premiums with fewer compromises. I recommend checking out several other companies and/or working with a licensed insurance agent or broker to find your best fit.
Cost for Physicians Mutual Medicare Supplement Insurance
In estimates obtained for this review, Physicians Mutual's Plan G premiums were 33% higher than the cheapest alternative. (For an apples-to-apples comparison, we're using standard plans, not the innovative versions.)
- How we evaluate Medigap companies’ prices
The following price estimates were obtained for three metropolitan areas representing above-average, average and below-average costs for Plan G, the most popular Medicare Supplement Insurance plan:
Los Angeles: More expensive than average.
Atlanta: Average cost.
Dallas: Less expensive than average.
The sections below show pricing information from Physicians Mutual for a 65-year-old female nonsmoker as filed with the Centers for Medicare & Medicaid Services. (Note: Some Medigap prices may be higher for males.)
For comparison, the table for each plan also includes the price for the least-expensive option to buy the same plan from any company that filed prices. For example, Physicians Mutual’s price for Medigap Plan G in Los Angeles appears alongside the lowest price on Medicare.gov for all Plan G policies available in Los Angeles to an applicant with identical demographics.
Plan G
Physicians Mutual price | Medicare.gov lowest price | |
|---|---|---|
Los Angeles | $211. | $148. |
Atlanta | $171. | $139. |
Dallas | $157. | $117. |
For comparison, Physicians Mutual’s innovative version of Plan G is offered for $127 per month in Dallas — $30 below the standard version. (Innovative Plan G wasn’t available in Los Angeles or Atlanta when price estimates were obtained for this review.)
Discounts
Physicians Mutual offers several possible discounts on premiums to qualifying beneficiaries who:
Live with another adult age 60 or older.
Pay by automatic bank account withdrawals.
Discount amounts and availability may vary according to factors such as your location, household status and how you apply for a policy.
Physicians Mutual member complaints
53% more complaints than average
Members file complaints about Physicians Mutual Medicare Supplement Insurance plans at a rate about 53% higher than the average for all Medigap plans, according to 2022 and 2023 data from the National Association of Insurance Commissioners for Physicians Mutual and its subsidiaries that sell Medicare Supplement Insurance policies.
NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
Physicians Mutual’s spending on care
79.6% for member benefits
Physicians Mutual plans spent about 79.6% of premiums on member benefits, according to the most recent annual data. (The other 20.4% went to overhead expenses like administrative costs, marketing, salaries and commissions.) For comparison, the average for all companies is 83.9%.
Medicare Supplement Insurance providers must report data on the premiums they collect and how much they spend to provide benefits for members. The minimum required by law for individual Medigap policies is 60%.
Additional benefits
Medigap plans are standardized, but companies can offer extras on top of the Medicare benefits. Here are a few examples of added perks that might be available from Physicians Mutual:
A “second chance” option to switch from one Medigap plan type to another within the first two years without medical underwriting.
Coverage for certain preventive services available either built into the plan or as an added "Preventive Benefits Plus" rider (with an additional cost), depending on the state.
Silver&Fit fitness benefits are available in certain states — generally as part of the added-cost preventive benefits rider.
Availability and terms vary by state and the Physicians Mutual subsidiary that underwrites the plan. Review plan materials to see what’s available in your location.
Physicians Mutual Medicare Supplement Insurance service area
Physicians Mutual offers Medicare Supplement Insurance plans in 30 states and Washington, D.C. Depending on the state, plans might be sold under the Physicians Mutual, Physicians Life or Physicians Select brand.
Physicians Mutual covers nearly 160,000 Medigap beneficiaries in all and has about a 1% share of the total Medicare Supplement Insurance market.
Compare Medicare Supplement Insurance companies
Get more information below about some of the major Medicare Supplement Insurance companies. These insurers offer Medigap plans in most states, but specifics may vary depending on your location.
Find the right Medicare Supplement Insurance plan
Because Medigap plans are standardized, you can get precisely the same Medicare benefits from any company offering the plan. So when you shop, keep these considerations in mind to find the best policy to fit your needs:
Is your preferred plan available? Health insurance companies don’t always sell every plan, so check who sells the plan you want to buy in your area.
What are the premiums? Prices for the same plan can vary between companies, so check to find the most competitive rates.
Will your premiums change over time? Most policies cost more as you age, but some companies offer policies that let you lock in a price when you sign up.
Are there extras? Medigap plans’ core benefits are standardized, but in certain cases, some companies include such perks as discount programs or gym memberships.
If you have additional questions about Medicare, visit Medicare.gov or call 800-MEDICARE (800-633-4227, TTY 877-486-2048).
- "Innovative" plan might be priced lower than competitors' plans.
- May offer a 10% household discount with easy-to-meet terms (varies by location and other factors).
- High premiums for standard plan types, on average.
- High complaint rates.
Article sources
NerdWallet writers are subject matter authorities who use primary, trustworthy sources to inform their work, including peer-reviewed studies, government websites, academic research and interviews with industry experts. All content is fact-checked for accuracy, timeliness and relevance. You can learn more about NerdWallet's high standards for journalism by reading our editorial guidelines.
- 1.Physicians Mutual. Get Affordable Medicare Supplement Insurance. Accessed Mar 31, 2025.
- 2.NerdWallet analysis of American Association for Medicare Supplement Insurance data. Best Costs Medigap 2024 – Plan G. Accessed Mar 31, 2025.
- 3.Centers for Medicare & Medicaid Services. Find a Medigap Policy That Works For You. Accessed Mar 31, 2025.
- 4.National Association of Insurance Commissioners. Company Complaint Index. Accessed Mar 31, 2025.
- 5.National Association of Insurance Commissioners. 2023 Medicare Supplement Insurance Experience Reports (Direct Premiums Earned; Direct Claims Incurred). Accessed Mar 31, 2025.
- 6.Code of Federal Regulations. Title 42, Part 403, Section 215. Accessed Mar 31, 2025.
- 7.National Association of Insurance Commissioners. 2023 Medicare Supplement Loss Ratios. Accessed Mar 31, 2025.
Medicare Supplement Insurance ratings methodology
NerdWallet’s Medicare Supplement Insurance (Medigap) ratings are based on pricing, discounts, plan types offered, complaint data from the National Association of Insurance Commissioners, consumer experience, additional perks and benefits, and more. To calculate each health insurance company's rating, we adjusted the scores to a curved 5-point scale, rounded to the nearest half star.
NerdWallet reviewed 15 Medicare Supplement Insurance companies based on highest enrollment and greatest online search volume. At the national level, our scored reviews include companies covering about two-thirds of all Medigap beneficiaries. At the state level, our research includes at least one of the two largest Medigap insurance companies in 48 of the 50 states, plus Washington, D.C.
These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best coverage and rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines and full ratings methodology for Medicare Supplement Insurance.
Insurer complaints methodology
We examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, we calculated a similar index for each insurance company, weighted by market shares of each subsidiary. We score companies based on this index of how many complaints the company receives relative to its market share. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
Compare Medigap plans
Insurance company | NerdWallet rating | Plan types offered | NAIC complaint rate | Premium discounts available | Learn more |
|---|---|---|---|---|---|
BEST FOR MEDIGAP PLAN OPTIONS | (844) 939-0223 / TTY 711 Call UnitedHealthcarefrom UnitedHealthcare | ||||
5.0/5 | A, B, C, F, G, K, L and N. | Far fewer than expected | Above average | ||
BEST FOR MEMBER SATISFACTION | (855) 432-0512 / TTY 711 M-F 9AM-9PM, Sat 10AM-6PM ETSpeak to a licensed insurance agent on askchapter.orgon NerdWallet | ||||
 (855) 432-0512 / TTY 711 M-F 9AM-9PM, Sat 10AM-6PM ETSpeak to a licensed insurance agent on askchapter.orgon NerdWallet | 4.0/5 | A, C, D, F, G and N. | Far fewer than expected | Below average | |
BEST FOR EXTRA BENEFITS | (855) 432-0512 / TTY 711 M-F 9AM-9PM, Sat 10AM-6PM ETSpeak to a licensed insurance agent on askchapter.orgon NerdWallet | ||||
 (855) 432-0512 / TTY 711 M-F 9AM-9PM, Sat 10AM-6PM ETSpeak to a licensed insurance agent on askchapter.orgon NerdWallet | 3.5/5 | A, F, G and N. | More than expected | Above average | |
BEST FOR LOW PREMIUMS | (855) 432-0512 / TTY 711 M-F 9AM-9PM, Sat 10AM-6PM ETSpeak to a licensed insurance agent on askchapter.orgon NerdWallet | ||||
 (855) 432-0512 / TTY 711 M-F 9AM-9PM, Sat 10AM-6PM ETSpeak to a licensed insurance agent on askchapter.orgon NerdWallet | 4.0/5 | A, F, G and N. | More than expected | Above average | |