Physicians Mutual Medicare Supplement Insurance 2025 Review

Physicians Mutual Medicare Supplement pros and cons

Our full review

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^[0]

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.

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.)

Plan G

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^[0]

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^[0]

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%^[0]

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^[0]