Physicians Mutual Medicare Supplement 2023: An Honest Look

Physicians Mutual Medicare Supplement

Physicians Mutual Medicare Supplement Review

Kelly Maxwell

Physicians Mutual Medicare Supplement
Editor’s Rating: 3/5 Stars

Summary

Physicians Mutual has higher prices than you need to pay for your Medicare supplement insurance. However, they have a very unique Plan G product.

3
ProsCons
✅ Plan F & G Innovative Product❌ Higher premiums
❌ Few product offerings (Only plan A, F & G)
❌ High rate increases

Physicians Mutual has many different health products, but how does their Medicare supplement stack up to the competition?

This article will show you sample rates for all of their different Medicare supplement products and our recommendation for Physicians Mutual.

Fill out our quoter or chat with us to compare 15+ different Medicare supplement companies’ prices to save you the most money.

Table Of Contents

Physicians Mutual Medicare Supplement Plans

Currently, Physicians Mutual offers Plan A, F, & G.

  • Plan A
  • Plan F
  • Plan F Innovative
  • Plan G
  • Plan G Innovative

Two of their products are unique to Physicians Mutual, called Plan F & G Innovative.

Physicians Mutual Innovative Plan F

Plan F Innovative works by making you pay a $2,490 deductible for the first three years, after which the deductible goes away.

After the first three years, their Plan F Innovative is the same as any other Plan F. This can result in some cost savings at times.

Physicians Mutual Plan F

Physicians Mutual does offer a Medigap plan F, which is the same as all other Plan Fs by other companies. Their Plan F seems to be a bit above average in price compared to other high-rated companies.

Physicians Mutual Innovative Plan G

While most Plan Gs cover most of the remaining healthcare expenses Medicare does not, Plan G Innovative has a deductible of $2,490 that you are on the hook for only in the first three years.

After three years is up, the deductible is gone and is the same as a normal Plan G. Physicians Mutual did this to offer a lower-priced plan than your typical Plan G with some cost-sharing deductibles for the first few years.

Physicians Mutual Plan G

Physicians Mutual Plan G is one of their most popular plans. However, their Plan G is one of the highest priced, about 20% more than other comparable plans in many areas.

Prices

Below are sample prices from Physicians Mutual in comparison various competitor. These prices are for a 65-year-old male in Dallas and will vary depending on location.

PlanPhysicians MutualProsperityAetnaMutual of Omaha
Plan A$149$117$118$115
Plan F$178$131$152$161
Plan F Innovative$141
Plan G$143$119$118$118
Plan G Innovative$107

Since all Medicare supplement plans are standardized, they all cover the same thing and there is no difference in quality between insurance carriers. They only compete on price, customer service, and rate increases.

As you can see, you will pay hundreds more with Physicians Mutual than other companies. Prices will vary depending on your location, however.

Click here to read our full review on Prosperity Medicare supplements.

Physicians Mutual Medicare Supplement Rate Increase History

Rate increase history is important to look at for those shopping for Medicare supplements as it will tell you how much you can expect to pay in the future. Medicare supplement rates are not locked in like life insurance.

Unfortunately, Physicians Mutual has a history of high rate increases higher than their competitors.

Looking at rates for a 70 year old female in Texas , Physicians Mutual raises rates around 3-5% every year due to age, and even more due to inflation, which cannot be forecasted. In total, it looks like Physicians Mutual medicare supplement rate increase history is just above average for the industry.


Summary

We don’t recommend Physicians Mutual as their prices are a bit higher than what you can find elsewhere and there is no difference in quality between different companies.

While Physicians Mutual has many great products, we recommend looking elsewhere for your Medicare supplement needs.

If you want to shop the market among 15+ different Medicare supplement companies fill out our quoter or chat with us and we will be in touch.

FAQs