The bottom line: Physicians Mutual stands out from competitors with an “innovative” version of Medigap Plan G. The innovative version adds deductibles for the first few years in exchange for a permanent discount on premiums. If the innovative plan ends up a lot cheaper than competing companies, it could be worthwhile.
But if you're not going for the unique innovative plan, you might find a better fit elsewhere. Competitors can offer better complaint rates and lower premiums for standard plans.
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Physicians Mutual Medicare Supplement Insurance plans
Physicians Mutual offers a fairly small set of Medigap plan types. In most states, you can get standard, high-deductible and “innovative” versions of Plan G, which is the most popular plan type for new Medicare members.
There’s also Plan A, which has basic benefits but can be cheaper. And you can buy Plan F if you became eligible for Medicare before 2020, but companies can’t sell it to people newer to Medicare.
Plan N might be available in states where Physicians Mutual wasn’t approved to offer its innovative Plan G.
Physicians Mutual’s plans in Wisconsin fit the state’s standards. (Wisconsin uses a different Medigap plan system than most 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.
In the quotes obtained for this review, we saw that Physicians Mutual’s innovative Plan G was about 19% cheaper than the standard version in Dallas and about 29% cheaper in Las Vegas. Innovative Plan G wasn’t offered in Atlanta.
Specifics will vary based on location and other factors. It’s a good idea to check prices and plan offerings for your own area and circumstances to see how they compare.
How much does Physicians Mutual Medicare Supplement Insurance cost?
Innovative plans are cheap, standard plan pricing is OK
In estimates obtained for this review, Physicians Mutual's Plan G premiums were 21% higher than the cheapest company we review, on average. (For an apples-to-apples comparison, we're using standard plans, not the innovative versions.) In Atlanta, the one city in our sample set where Plan N was offered, it was 42% more expensive than the cheapest company we review.
Below are the companies’ lowest prices from Medicare.gov, including any available household discounts. Rates might vary based on factors like age, sex, location and household status.
We compare prices in three cities. Each city has different average Medigap premiums:
Los Angeles: Higher costs.
Atlanta: Average costs.
Dallas: Lower costs.
We use Plan G and Plan N for price comparisons. New Medicare members usually pick one of those plan types.
Physicians Mutual doesn't sell plans in Los Angeles, our higher-cost city. To give the company an equal number of data points, we've substituted Los Angeles with Las Vegas, which has generally similar price trends.
Physicians Mutual doesn't offer Plan N in two out of the three locations we analyze, so we're only including Plan G rates here.
The sections below show price estimates filed with the Centers for Medicare & Medicaid Services. Prices are for a 65-year-old female nonsmoker. (Note: Some Medigap prices may be higher for males.)
Our tables compare the company’s prices to the cheapest alternative. For example, Physicians Mutual's best price for Plan G in Los Angeles is next to the lowest price from any company on Medicare.gov for the same plan.
Plan G
Physicians Mutual price | Cheapest reviewed competitor | |
|---|---|---|
Las Vegas | $190. | $160. |
Atlanta | $175. | $140. |
Dallas | $163. | $138. |
For comparison, here’s how Physicians Mutual’s innovative Plan G prices compare to its standard versions, with household discounts included for each:
Las Vegas: $136 per month for the innovative plan vs. $190 for the standard version.
Dallas: $132 per month for the innovative plan vs. $163 for the standard version.
(Innovative Plan G wasn’t offered in Atlanta.)
Physicians Mutual Medigap discounts
Above-average discounts
Discounts can help you save on your Medigap premiums. We often see “household” discounts offered to people living with at least one other adult.
Physicians Mutual offered a roughly 11% household discount in all three locations priced for this review. That's a little higher than average among the companies we review. It’s a “roommate” discount, so you don’t need to live specifically with a spouse to qualify.
Discount amounts and availability may vary according to factors such as your location, household status and how you apply for a policy.
More Nerdy Perspective
Is Physicians Mutual a good Medicare Supplement Insurance company?
Physicians Mutual’s unique plan makes it worth a look. The “innovative” version of Plan G might have lower premiums over the long term, if you don’t mind dealing with a deductible for a few years. (Ideally, you don’t need the plan much in those first years with the deductible, as you’re younger and healthier.) I recommend comparing quotes from at least a few different companies. HealthSpring is our pick for low premiums, for example. Also consider AARP if you want more plan type options, as well as our all-around top scoring company, State Farm. And consider working with a licensed insurance agent or broker to find your best fit.
Physicians Mutual’s unique plan makes it worth a look. The “innovative” version of Plan G might have lower premiums over the long term, if you don’t mind dealing with a deductible for a few years. (Ideally, you don’t need the plan much in those first years with the deductible, as you’re younger and healthier.) I recommend comparing quotes from at least a few different companies. HealthSpring is our pick for low premiums, for example. Also consider AARP if you want more plan type options, as well as our all-around top scoring company, State Farm. And consider working with a licensed insurance agent or broker to find your best fit.
Alex Rosenberglead writer covering MedicareCompare 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
Physicians Mutual Medicare Supplement price increases
Premiums rise slower than average
It can be difficult or even impossible to switch Medigap plans or companies after your Medigap open enrollment period because of medical underwriting. If you might stick with the same company for decades, it’s a good idea to consider how its prices change over time.
In the past three years of Medigap price data I analyzed, Physicians Mutual’s premiums went up an average of 6.4% per year across the locations we track. That’s a slower rate of increases than average, among the companies we analyze.
Physicians Mutual member complaints
50% more complaints than average
Physicians Mutual’s complaint rates aren’t good. Its members file complaints about their plans 50% more often than the average for all Medigap companies. That’s according to 2023 to 2025 data from the National Association of Insurance Commissioners (NAIC).
NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
Physicians Mutual's spending on care
82% for member benefits
Physicians Mutual plans spent about 82% of premiums on member benefits, according to the most recent annual data. (The other 18% went to overhead expenses like administrative costs, marketing, salaries and commissions.)
That’s a fine number, if a little below the all-company average of 84.5%.
The medical loss ratio (MLR) is the percentage of premiums a company spends to pay members’ claims.
If the number is relatively low (down in the 70s), I might wonder why the company isn’t spending more on the benefits its members are paying for.
But if the number is very high (around 90% or higher), the company might not turn a profit after expenses. In that case, I worry that it might cut back on Medigap plans or stop offering them altogether.
Additional benefits
Decent perks, but they might cost extra
Medigap plans are standardized, but companies can offer extras on top of the Medicare benefits. Here are 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 26 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 about 175,000 Medigap beneficiaries. Its share of the total Medicare Supplement Insurance market is about 1.1%.
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. 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.
- Sizable discount on premiums for living with another adult.
- Plenty of competitors have cheaper non-innovative plans.
- High complaint rates.
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.Centers for Medicare & Medicaid Services. Find a Medigap Policy That Works For You. Accessed Jul 27, 2026.
- 2.National Association of Insurance Commissioners. Company Complaint Index. Accessed Jul 27, 2026.
- 3.National Association of Insurance Commissioners. 2024 Medicare Supplement Insurance Experience Reports (Direct Premiums Earned; Direct Claims Incurred). Accessed Jul 27, 2026.
- 4.National Association of Insurance Commissioners. 2024 Medicare Supplement Loss Ratios. Accessed Jul 27, 2026.
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 13 Medicare Supplement Insurance companies based on highest enrollment and greatest online search volume. We review companies covering nearly 87% of all Medigap beneficiaries in the United States. At the state level, our research includes the two largest Medigap insurance companies in 45 out of 50 states, plus Washington, D.C. We cover at least one of the two largest Medigap companies in every state.
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 | Annual price increases | Learn more |
|---|---|---|---|---|---|
BEST OVERALL | |||||
 (855) 432-0512 / TTY 711 M-F 9AM-9PM, Sat 10AM-6PM ETSpeak to a licensed insurance agent on askchapter.orgon NerdWallet | 5.0/5 | A, C, D, F, G and N | Far fewer than expected | Lower than average | (855) 432-0512 / TTY 711 M-F 9AM-9PM, Sat 10AM-6PM ETSpeak to a licensed insurance agent on askchapter.orgon NerdWallet |
BEST FOR LOW PRICES | |||||
 (855) 432-0512 / TTY 711 M-F 9AM-9PM, Sat 10AM-6PM ETSpeak to a licensed insurance agent on askchapter.orgon NerdWallet | 4.5/5 | A, F, G and N | Far more than expected | Lower than average | (855) 432-0512 / TTY 711 M-F 9AM-9PM, Sat 10AM-6PM ETSpeak to a licensed insurance agent on askchapter.orgon NerdWallet |
BEST FOR PLAN AVAILABILITY | |||||
 (855) 432-0512 / TTY 711 M-F 9AM-9PM, Sat 10AM-6PM ETSpeak to a licensed insurance agent on askchapter.orgon NerdWallet | 4.3/5 | A, B, C, F, G, K, L and N | Fewer than expected | Higher than average | (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 | 4.3/5 | A, F, G and N | Close to expected | Lower than average | (855) 432-0512 / TTY 711 M-F 9AM-9PM, Sat 10AM-6PM ETSpeak to a licensed insurance agent on askchapter.orgon NerdWallet |