Physicians Mutual Medicare Supplement Plans 2027: Rate History, Discounts and Ratings

Reviewed by Russell Noga, Licensed Medicare Insurance Broker (all 50 states) — Last updated October 29, 2026

Physicians Mutual Medicare Supplement plans are issued mainly by Physicians Life Insurance Company, rated A+ (Superior) by AM Best, and sold in about 26 states and Washington, D.C. Its premiums rose about 6.4% a year over the last three years in NerdWallet’s tracking, and its household discount is unusual: a spouse is not required.

2027 by the Numbers

A+

AM Best rating (Superior), November 2025 (Physicians Mutual)

1902

year Physicians Mutual Insurance Company was founded

10%

household discount for living with a spouse or anyone 60+ (Physicians Mutual)

6.4%

average yearly premium increase, last 3 years (NerdWallet 2026 review)

Most people who search for Physicians Mutual already know the name from TV. What they really want to know is how its prices behave after year one. The most common question we see from Google searchers on this page is about Physicians Mutual’s rate increase history, so we answer that first, with the sources named.

After that, we cover the details that set this company apart: who actually issues the policy, a household discount that does not require a spouse, and a one-time chance to switch plans. For the basics of each plan letter, see our Medicare Supplement plans comparison chart for 2027.

Compare 2027 Physicians Mutual Medicare Supplement Rates

Speak with a licensed insurance agent

1-855-409-6195TTY 711

Mon-Fri: 5am-7pm, Sat-Sun: 7am-4pm CT

Physicians Mutual Rate Increase History: What the Records Show

How to look up Physicians Mutual Medicare Supplement rate increase history in your state

No insurer publishes a single national rate history, because every increase is filed and approved state by state. Here is what public records and independent tracking show for Physicians Mutual.

Recent pace. NerdWallet’s 2026 review found Physicians Mutual premiums rose about 6.4% a year on average over three years, which it called slower than average.

State filings exist for three company names. Tennessee’s public list of Medicare Supplement rate filings from 2021 to 2026 includes filings from Physicians Life, Physicians Select and Physicians Mutual Insurance Company.

Increases need approval. State insurance departments, such as Kentucky’s, must approve rates and rate increases before an insurer can use them.

Find your state’s filing search. Most states post rate filings through SERFF Filing Access or a state rate list like Tennessee’s.

Search the exact company name. Use the name on your quote, such as Physicians Life Insurance Company, not just Physicians Mutual.

Read the overall rate impact. Each filing shows the average percent change and how many policies it affected.

Broker tip: Ask for the last three years of increases on the exact policy form you are buying in your state. A company can be gentle in one state and steep in another.

Medicare Supplement Quotes

Call a Licensed Agent Now

Compare 2027 Plan G, Plan N and more from several insurance companies in one call.

☎ 1-855-409-6195

TTY users 711

No obligation to enroll

What We Verified About Physicians Mutual Medicare Supplement (October 2026)

Item	What we found	Source
Company that issues most policies	Physicians Life Insurance Company (formed 1970), a Physicians Mutual company	Physicians Mutual website
Other names you may see	Physicians Select Insurance Company (listed in Iowa’s October 2026 guide)	Iowa Insurance Division
Home office	Omaha, Nebraska; Physicians Mutual founded 1902	Physicians Mutual website
AM Best rating	A+ (Superior) for Physicians Mutual and Physicians Life, November 2025	Physicians Mutual website
Size	$2.90 billion assets (Physicians Mutual); $1.74 billion (Physicians Life)	Physicians Mutual website
Plan letters	A, F, G and N in Kentucky; high-deductible and Innovative G in some states	Kentucky DOI 2026 guide; NerdWallet
Where sold	About 26 states and D.C.; not available in California	NerdWallet; Physicians Mutual website

Checked October 2026. Availability and plan letters vary by state.

The Household Discount That Does Not Need a Spouse

Most companies give a household discount only to married couples or partners who both buy a policy. Physicians Mutual’s rule is broader. Its website offers 10% off monthly premiums for living with your spouse or with anyone age 60 or older.

Who counts. Your spouse or partner, or one to three household residents age 60 or older, per the company’s Household Discount Questionnaire.

They do not need a policy. The questionnaire asks only whether you live with them, not whether they are insured with Physicians Mutual.

Adding it later. If you qualify after you buy, the discount starts on the monthly renewal date after the company receives the form.

Good to know: A widow or widower who lives with a sister, brother or friend age 60 or older may qualify. That is a real edge over companies that require a married couple.

Second-Chance Switch and Other Extras

Physicians Mutual Medicare Supplement 2027 household discount, two-year switch and A+ rating

Physicians Mutual adds a feature few insurers offer: new customers can switch to another of its plans once in the first two years without answering health questions. If you buy Plan N and the copays bother you, this can be your path to Plan G.

Feature	What it does	Catch
Two-year switch option	Change plans once in the first two years with no health questions	One time only; rules vary by state
Preventive care benefits	Covered routine exams, shots and screenings Medicare does not pay	May be an added-cost rider in some states
Silver&Fit	Fitness program at participating gyms	Offered in certain states, often with the rider
Innovative Plan G	Plan G with a lower premium and an added deductible in the early years	Approved only in some states

Sources: Physicians Mutual website; NerdWallet 2026 review.

Compare plans & benefits in your area

Or speak with a licensed insurance agent

1-855-409-6195TTY 711

Mon-Fri: 5am-7pm, Sat-Sun: 7am-4pm CT

How Physicians Mutual Prices Compare

Benefits are identical across companies, so price is where Physicians Mutual wins or loses. NerdWallet pulled Plan G rates from Medicare.gov for a 65-year-old woman in three cities.

City	Physicians Mutual Plan G	Cheapest company reviewed
Las Vegas	$190/mo	$160/mo
Atlanta	$175/mo	$140/mo
Dallas	$163/mo	$138/mo

NerdWallet 2026 review, female 65, nonsmoker, rates include household discounts.

On those numbers, Physicians Mutual’s standard Plan G ran about 21% above the cheapest option. Its Innovative Plan G came in lower, at $136 in Las Vegas and $132 in Dallas. Before you decide, read how Plan G rate increases for 2027 can change these gaps over time.

Physicians Mutual Strengths and Weak Spots

Strength: rating. A+ (Superior) from AM Best is one of the higher ratings among Medicare Supplement sellers.

Strength: flexible discount. Living with any adult 60 or older can qualify you.

Weak spot: complaints. NerdWallet found a complaint rate about 50% above the Medicare Supplement average, using NAIC data for 2023 to 2025.

Weak spot: starting price. Standard Plan G often quotes above the lowest company in the same ZIP code.

If your top goal is the lowest starting premium, see our list of cheapest Medicare Supplement plans. If you value a strong rating and the two-year switch, Physicians Mutual deserves a quote.

Bottom Line

Physicians Mutual brings an A+ (Superior) rating, a household discount that does not require a spouse, and a one-time switch option in the first two years. Its standard Plan G often starts above the cheapest company, and its complaint rate has run high. Check its rate history in your state and compare at least two other quotes.

Check Physicians Mutual and other rates in your ZIP code

Speak with a licensed insurance agent

1-855-409-6195TTY 711

Mon-Fri: 5am-7pm, Sat-Sun: 7am-4pm CT

Physicians Mutual Medicare Supplement 2027 — Frequently Asked Questions

➤ What is Physicians Mutual’s Medicare Supplement rate increase history?

NerdWallet’s 2026 review found increases averaged about 6.4% a year over three years. Exact increases differ by state, and each one is filed with your state insurance department.

➤ Which company actually issues a Physicians Mutual Medicare Supplement policy?

Usually Physicians Life Insurance Company. In some states, such as Iowa, the policy comes from Physicians Select Insurance Company.

➤ Can I get the household discount if I live with a friend?

Possibly. Physicians Mutual offers its discount for living with a spouse or with someone age 60 or older, and that person does not need to buy a policy.

➤ How much is the Physicians Mutual household discount?

The company advertises 10% off monthly premiums. NerdWallet measured about 11% in the cities it priced.

➤ What is the Physicians Mutual two-year switch?

New customers can move to another of its plans once in the first two years without answering health questions.

➤ What AM Best rating does Physicians Mutual have?

A+ (Superior) for both Physicians Mutual Insurance Company and Physicians Life Insurance Company, as of November 2025.

➤ Is Physicians Mutual Medicare Supplement sold in California?

No. The company’s Medicare Supplement page states the product is not available in California.

➤ Does Physicians Mutual offer Plan N?

Yes, in many states. Kentucky’s 2026 guide lists Physicians Life with Plans A, F, G and N.

New to Medicare?

If you are new to Medicare, then you can enroll in a 2027 Medicare Supplement plan up to six months prior to your Medicare Part B effective date.

Call one of our licensed insurance agents to see what the best time frame is for you to enroll, based on your current situation. You can contact them at 1-855-409-6195.

Medicare Supplement Quotes

Call a Licensed Agent Now

Compare 2027 Plan G, Plan N and more from several insurance companies in one call.

☎ 1-855-409-6195

TTY users 711

No obligation to enroll

Speak with a licensed insurance agent

1-855-409-6195

Compare plans in your area

1-855-409-6195 TTY 711

Physicians Mutual Medicare Supplement Plans 2027: Rate History, Discounts and Ratings

Compare 2027 Physicians Mutual Medicare Supplement Rates

Speak with a licensed insurance agent

1-855-409-6195TTY 711

Mon-Fri: 5am-7pm, Sat-Sun: 7am-4pm CT

Physicians Mutual Rate Increase History: What the Records Show

What We Verified About Physicians Mutual Medicare Supplement (October 2026)

The Household Discount That Does Not Need a Spouse

Second-Chance Switch and Other Extras

Compare plans & benefits in your area

Or speak with a licensed insurance agent

1-855-409-6195TTY 711

Mon-Fri: 5am-7pm, Sat-Sun: 7am-4pm CT

How Physicians Mutual Prices Compare

Physicians Mutual Strengths and Weak Spots

Bottom Line

Check Physicians Mutual and other rates in your ZIP code

Speak with a licensed insurance agent

1-855-409-6195TTY 711

Mon-Fri: 5am-7pm, Sat-Sun: 7am-4pm CT

Physicians Mutual Medicare Supplement 2027 — Frequently Asked Questions

New to Medicare?

Compare plans & benefits in your area

Or speak with a licensed insurance agent

1-855-409-6195TTY 711

Mon-Fri: 5am-7pm, Sat-Sun: 7am-4pm CT