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Physicians Mutual Medicare Insurance Review

Physicians Mutual Medicare insurance rates can be as low as $37 per month. Physicians Mutual Medicare Insurance Medicare Supplement Plans include A, D, G, F, and N, with a high-deductible F Plan. Read this guide to find Physicians Mutual Medicare Insurance quotes that work for you.

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Eric Stauffer is a former insurance agent and banker turned consumer advocate. His priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best...

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UPDATED: Jul 16, 2020

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Physicians Mutual has been operating for over a hundred years out of their Nebraska headquarters. Originally founded to provide health insurance to physicians, today they write life insurance and supplemental health, including Medicare Supplement.

About Physicians Mutual

Founded in 1902 in Omaha, Nebraska, Physicians Mutual initially offered their products only to physicians. In 1962, the company expanded their market and began writing insurance policies for the general public. Physicians Mutual Life Insurance Company was founded in 1970, adding a variety of life policies to the lineup. In 2012, Physicians Mutual entered the funeral pre-planning market.

Physicians Mutual offers their products across the country, although availability varies by state. Medicare Supplement products are available in most, but not all, states, and follow the standardized lettered system. The company also writes supplemental health and accident insurance, annuities, and dental insurance.

Physicians Mutual uses a team of career agents to sell their policies across the nation.

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Physicians Mutual Medicare Supplement Plans

For the purpose of this review, we looked at the Medicare Supplement plans offered in the company’s home state of Nebraska.

Physicians Mutual has a good range of choices, including one option that is exclusive to the company. They offer plans A, D, G, F, and N. They also have the high deductible plan F, and a version of this plan called Plan F with Innovative Rider.

Plan A is offered by all Medicare Supplement providers and is the most basic plan. It pays coinsurance amounts for medical, hospital, and hospice care, as well as covering the first three pints of blood annually.

Plan F is the most comprehensive, intended to cover all out of pocket costs not paid for under Medicare Parts A & B. This makes it generally the most expensive of the options; to mitigate the monthly cost there is a high deductible option available as well. That deductible is $2,240.

Physicians Mutual’s Plan F with Innovative Rider is their exclusive Medicare Supplement product. It’s the same as the high deductible Plan F and has the same coverage, but the deductible disappears on the first of January after the third policy anniversary. After that, there is no deductible for as long as the policy remains in force. This option is unusual, and we have not seen anything like it elsewhere.

Rates

Physicians Mutual does not offer online quoting for Medicare policies. The company states that their products for the state of Nebraska start at $37.75 per month. This rate is likely for Plan A, but the site does not say so specifically.

For a company that does offer online quoting for life insurance and is relatively large, it would be convenient to see Medicare Supplement rates offered online.

Claims

We found the claims information to be a little buried on the website, rather than readily available off a front-page link.

Physicians Mutual does not offer 24-hour claims reporting line, which is fairly common for supplemental insurance companies. There is, however, a 24-hour automated line for checking claims status.

Claims forms are available for download online, including for Medicare Supplement. They can be printed, filled out, and sent in by mail.

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Ratings and Consumer Reviews

Physicians Mutual has an A+ rating with the Better Business Bureau (BBB), where they have been accredited since 1940. There are a total of 62 complaints on file in the past three years. 20 complaints were closed in the past 12 months.

There are 148 reviews on the company’s Facebook page. That is quite a lot, given the fact that Facebook’s reviews option has not been around for very long. They have an overall 4.1-star rating, with 95 five-star reviews and 24 one-star reviews. Complaints generally center on billing issues and slow claims processing.

Overall, the general impression of the company is positive.

The Bottom Line

Physicians Mutual has a good reputation and some good Medicare Supplement plan choices, including their exclusive Plan F choice, although it’s not the widest selection of choices we have seen. They are a good choice for those who prefer the personal attention of an agent and value service over the lowest price.

For a list of companies that we recommend, visit our Best Insurance Companies page.

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About Eric Stauffer

Author: Eric StaufferI am a former insurance agent and banker turned consumer advocate. My priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.

1 Comment

  1. Please explain the Physician Mutual Innovative Supplement plan.

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