Physicians Select Insurance Company: Medicare Supplement Review

By Anthony Orner, Independent Licensed Medicare Insurance Broker · Filed-rate data as of September 14, 2026 · Source: CSG Actuarial

Its standard Plan G is not where the savings are: at 65, between 10 and 16 other carriers file it for less, depending on the state. The rate record is short and already steep: in Tennessee it filed two increases that compound to about +37%.

The question this company raises is why its Innovative price sits so far below everyone else's Plan G. The answer is a deductible. In some states it is still the lowest premium on the board, and the state table below shows which.

Carriers pay the broker; the price you pay is the same either way.

Physicians Select Plan G at 65, by State

Monthly premiums for a 65-year-old woman, non-tobacco, no household discount, as medians across each state's rating areas. The rank counts other carriers whose standard Plan G costs less.

“Lowest standard G” is the cheapest standard Plan G from any carrier, which can be a best-health (preferred) class. Innovative is not like-for-like with standard Plan G: it carries a deductible for its first three calendar years.

One Plan Letter, Three Versions

• Standard Plan G. The federal Plan G. You pay the $283 Part B deductible and the plan pays the rest of Medicare's cost-sharing.
• Innovative Plan G. The same benefits, plus a yearly deductible of $2,950 (2026) for the first three calendar years. The premium runs well below the company's standard Plan G, and the two versions have taken the same rate filings so far. The worked math is on our Innovative Plan G explainer.
• Plan G With Preventive and Fitness Benefits. Standard Plan G plus a rider Physicians Mutual calls Preventive Benefits Plus, with the Silver&Fit exercise program. It adds $9.53 a month or less in Colorado, Indiana, South Carolina and Tennessee.

Two people in one household save 10% to 11.1% on standard Plan G. That discount is not in the table above.

Where Innovative Has the Lowest Premium

Innovative's premium is the number that catches people. In Colorado, Pennsylvania and Tennessee, it is the lowest Plan G premium filed at 65 in every rating area, for anyone at an ordinary health class. In Indiana, Ohio, South Carolina and Texas, a standard Plan G with no deductible at all costs less in most of the state.

Lowest premium is not lowest cost. In a year with a hospital stay, the $1,736 Part A deductible alone falls inside the Innovative deductible, which runs up to $2,950. Three such years cost up to $8,850 that standard Plan G would have paid, less if your Part B deductible counts toward it.

The Rate Record So Far

A Medigap premium is decided less by the first bill than by every increase after it. Physicians Select has filed increases in every one of the 7 states we place it in. Where two landed back to back, they compound for a policy that sat through both:

• Tennessee: +9.9% (January 2025) then +25% (November 2025), about +37% combined.
• South Carolina: +9.9% (February 2025) then +20% (February 2026), about +32% combined.
• Texas: +11% (January 2025) then +17% (September 2025), about +30% combined.

Innovative Plan G took the same filings in every state, so its discount holds as a percentage, but its dollar premium climbs with the rest. A record that starts in January 2025 is not a trend. It is also not reassurance, and it is the main reason I compare this company against carriers with longer records before anyone applies.

Can You Apply Through Us?

Yes, in Colorado, Indiana, Ohio, Pennsylvania, South Carolina, Tennessee and Texas. Its standard Plan G goes into the same Plan G comparison on our state pages as every other carrier. Innovative stays out of those, because its first three years carry costs the others don't, and ranked by premium alone it would look like a bargain it isn't. If it fits your situation after we walk through the deductible, we can help you apply.

Shopping for a regular Plan G? Enter your ZIP and we'll line up every carrier's standard Plan G at your age, Physicians Select included.

The Physicians Mutual Family, by NAIC

• Physicians Select Insurance Company (NAIC 17414): Plan G in Colorado, Iowa, Indiana, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee and Texas.
• Physicians Mutual Insurance Company (NAIC 80578): Medigap in Alabama, Arizona, Mississippi, North Carolina and Nebraska, including Innovative. See what its “(Innovative)” listing means.
• Physicians Life Insurance Company (NAIC 72125): Medigap in Arkansas, Delaware, Florida, Georgia and Michigan.

Wisconsin Physicians Service shares the word “Physicians” and nothing else; it belongs to another insurance group. Physicians Select also files in Iowa and Oklahoma, which are left out of the tables because we don't place business there.

Rates and filings are from CSG Actuarial, pulled September 14, 2026: individual, female, non-tobacco, one sample ZIP per rating area, medians across areas. Filing percentages are as filed for standard Plan G; the combined figures compound them. The 2022 formation date is Physicians Mutual's. The Innovative deductible design is Physicians Mutual's; its 2026 amount is the CMS figure for high-deductible Plan G. MedicareYourself is a private independent brokerage, not affiliated with or endorsed by Medicare, Physicians Mutual or any government agency. Questions about this data: anthony@easykindmedicare.com.