Mutual of Omaha Medicare Supplement Plan Review in 2024
Original Medicare covers only about 80 percent of health-care costs, and the remaining 20 percent can really make a dent in your wallet — especially if you are on a fixed income or pension. That’s why it's important to enroll in a Medicare supplement plan, also known as Medigap.
One of my favorite Medigap providers is Mutual of Omaha, an insurance company with superb customer service and an excellent range of Medicare supplement plans. In this rundown, I’ll help you understand Mutual of Omaha’s Medigap plan options and their related costs, and how the company compares to its competitors.
Mutual of Omaha Pros
- Optional international coverage
- Stellar customer service
- Works with any Medicare health provider
- Discounts for couples
- Plans available in most states
- One-day application process
Mutual of Omaha Cons
- Potential for premium hikes
- Higher than average premiums
Did You Know: To learn more about Medicare supplement insurance, including how to purchase it and when you’re eligible, take a look at my 2024 Guide to Medigap.
Alternatives to Mutual of Omaha
Looking for lower monthly premiums? We recommend checking out one of the following top-rated carriers.
Mutual of Omaha Company Background
What exactly is Mutual of Omaha? The Nebraska-based insurance and financial-services company was founded in 1909, and it offers products such as Medicare supplement insurance, life insurance, group life, and disability insurance. The company is authorized to sell insurance in all 50 states and the District of Columbia.
As one of the pioneers in offering Medicare supplement plans (since 1966), the company has an extensive network of providers and is dedicated to making sure older adults’ out-of-pocket expenses are covered in full. It’s no wonder 10 percent of Medicare beneficiaries subscribe to Mutual of Omaha’s Medigap plans.
Which Medicare Supplement Plans Does Mutual of Omaha Offer?
Mutual of Omaha offers 10 standard plans, including Plans A, C, D, F, G, and N, with premiums ranging from $39.08 a month to more than $242.68 a month.
Here is an overview of its plans:
- Plan A: The most basic Medigap policy, Plan A will cover Medicare coinsurance, hospital benefits, three pints of blood, and coinsurance for hospice care. You’ll still be responsible for your Medicare deductibles, however.
- Plan C: Plan C is one of the most comprehensive forms of Medigap coverage, but it’s available only to people who were eligible for Medicare before 2020. The only thing this plan doesn’t cover is Medicare Part B excess charges.
- Plan D: Offering only a middling level of coverage, Medigap Plan D is a good way to offset the cost of Medicare Part A deductibles.
- Plan F: Medigap Plan F offers the broadest coverage of any Medigap plan. Like Plan C, Plan F is available only to people who were eligible for Medicare before 2020.
- High-deductible Plan F: This plan provides the same comprehensive coverage as Plan F, but it kicks in only after you reach your out-of-pocket maximum. The upside to this plan is that it generally comes with very low premiums.
- Plan G: Medigap Plan G is nearly the same as Plan F, except you’ll have to pay your Medicare Part B deductible out of pocket. For those eligible for Medicare only after 2020, however, this is the most comprehensive option available.
- High-deductible Plan G: If you’re looking for low premiums, then you may want to consider this plan. It offers comprehensive coverage that won’t kick in until you reach your out-of-pocket maximum.
- Plan N: For people who don’t mind copayments for office and emergency-room visits, Medigap Plan N offers solid coverage.
Top tip: Get a 12 percent discount if your household has someone over the age of 60, even if they are not a Mutual of Omaha policyholder.
Mutual of Omaha Medigap Costs
The goal of Medigap plans is to boost your Original Medicare coverage. Each plan is suited to a different need and budget, so you need to assess your health and expected health-care costs before choosing a plan. Here are the Medigap policies available through Mutual of Omaha, including their benefits and costs.
Mutual of Omaha Medigap Plans and Pricing
| Plan A | Plan C | Plan D | Plan F | Plan F (high deductible) | Plan G | Plan G (high deductible) | Plan N | |
|---|---|---|---|---|---|---|---|---|
| Ideal for | Older adults want just the basic coverage benefits over their Original Medicare. | Older adults who want both deductibles to be covered at a lower premium | Older adults who want all the basic costs and part A deductible to be covered. | Older adults who expect to use the Medigap plan quite a lot due to high healthcare costs. | Older adults who don't expect to use the Medigap plan too much, so are ok with high deductibles. | Older adults who are comfortable paying a small deductible for doctor's visits, but need inpatient procedures to be covered. | Older adults who are ok paying a significantly higher deductible per year before the coverage comes into play in exchange for a lower premium. | Older adults who are ok with co-payments to keep the monthly premium at a reasonable amount. |
| Monthly premium* | $97.85 | $195.05 | $184.16 | $242.68 | $49.23 | $147.15 | $39.08 | $115.61 |
| High deductible ($2,370 in 2021) | No | No | No | No | Yes | No | Yes | No |
| Medicare Part A (deductible) | No | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Medicare Part A (coinsurance and coverage for hospital benefits) | 100% | 100% | 100% | 100% | 100% | 100% | 100% | $20 copay for office visits; $50 copay for ER |
| Skilled nursing facility care (coinsurance) | No | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Hospice care (coinsurance or copayment) | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Blood (first 3 pints) | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Medicare Part B (deductible) | No | No | No | 100% | 100% | No | No | No |
| Medicare Part B (coinsurance or copayment) | 100% | 100% | 100% | 100% | 100% | 100% | 100% | Co-pay Chargeable |
| Medicare Part B (excess charges) | No | No | No | 100% | 100% | No | No | No |
| Foreign travel emergency | No | 80% | 80% | 80% | 80% | 80% | 80% | 80% |
*The monthly premium estimates are based on a 65-year-old male customer living in Anchorage, Alaska.
Did You Know: Did you know Medigap premiums tend to be higher in bigger cities? They also increase with the subscriber’s age.
Mutual of Omaha Extra Benefits
Many extra services come with a subscription to a Mutual of Omaha Medigap plan, including access to more than 10,000 fitness facilities across the United States, discounts on wellness products, and a mobile app for personalized exercise and nutritional recommendations.
Mutually Well
With this Mutual of Omaha program, you’ll receive discounts on healthy-eating products, personalized fitness programs, and free physical-activity courses with no additional contract required. The Mutually Well smartphone app enables you to create your own personal health plan, which I found to be helpful for keeping track of my goals. With Mutually Well, I was able to receive discounted rates on acupuncture, an herbal clinic, and even my local gym in Portland, Oregon.
Amplifon Hearing Aid Discounts
Hearing aids can cost upwards of $5,000 per pair, so luckily my Mutual of Omaha Medigap policy gave me a discount on a set from Amplifon, one of my favorite hearing aid manufacturers. My hearing aid purchase also came with two years of free batteries and a three-year warranty.
Vision Care
Your Mutual of Omaha Medigap policy can provide discounts on routine vision services, including exams and eyewear, even without purchasing additional vision insurance. I saved $50 on an eye exam when I visited an in-network provider.
How to Enroll in a Mutual of Omaha Medigap Plan
Any U.S. citizen over age 65 can apply for Mutual of Omaha Medigap Plans, as long as they are already enrolled in Medicare Parts A and B. If you apply during open-enrollment season (six months from the month you turn 65 and are enrolled in Medicare), you are guaranteed access to Medigap even if you have a preexisting condition.
After hearing rave reviews about Mutual of Omaha’s offerings, I wanted to see how easy it is to enroll in one of the company’s Medigap plans. I went to its website and entered the gender, ZIP code, and birth date of a fictitious older adult, and I was presented immediately with eight plan options in my state of Oregon.
After going through the options, I decided the best way to thoroughly understand the plans would be to call a Mutual of Omaha insurance agent. It was a good call, and the agents seemed to know how to match me to the right plan based on my needs and lifestyle. If you feel like extra assistance can help you navigate this confusing purchase, then I’d suggest calling Mutual of Omaha’s call center or requesting a call back via the company’s website.
Alternatives to Mutual of Omaha Medigap
Not satisfied with what Mutual of Omaha has to offer? You may want to shop around a bit more, and check out our list of the best Medigap insurance providers. Below is a snapshot of three providers with solid alternatives to Mutual of Omaha.
- Cigna: Cigna’s Medigap Plans A, F, G, and N can be purchased at a discount if someone else in your household is also enrolled in one of the company’s plans. You’ll also gain access to savings on health and wellness programs with a Cigna plan.
- Aetna: Offering Medigap coverage in nearly every state, Aetna is a great alternative if Mutual of Omaha doesn’t have the right plan in your state.
- Anthem: Anthem Medigap policies include plans A, F, G, and N. They also have a best-in-class mobile app if you would like to track your Medigap policies and manage insurance accounts from anywhere.
In Closing
One of the best ways to steer clear of medical debt is to enroll in a Medigap program from established private insurance providers such as Mutual of Omaha. After nearly a century in the industry, Mutual of Omaha has a reputation for top-notch coverage and friendly customer service. You can easily choose the plan that fits your requirements via Mutual of Omaha’s website or brokers.
To learn more about our favorite Medigap providers, check out our guides:
Mutual of Omaha Frequently Asked Questions
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Does Mutual of Omaha have Medigap plans?
Mutual of Omaha offers 10 standard plans, including A, B, C, D, F, G, K, L, M, and N, in nearly all states. Wisconsin, Massachusetts, and Minnesota have their own plans.
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How do I qualify for a Medigap plan?
To qualify for a Medigap plan, you must be enrolled in Medicare Parts A and Part B.
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Is it better to have Medicare Advantage or Medigap?
Both are add-ons to Medicare, but Medicare Advantage is ideal for people who are OK paying lower premiums for less coverage, network restrictions, and no coverage for copays and coinsurance. Medigap is a standardized set of plans ideal for older adults who prefer to pay higher premiums to avoid footing Medicare-approved expenses that Medicare doesn’t cover. Medigap plans also don’t pose any network restrictions, and they are guaranteed renewable.
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How can I switch between Medigap plans?
You are not legally allowed to switch between Medigap plans unless it’s during the six-month open-enrollment period or there are special circumstances. That’s why it’s important to do thorough research before you buy a policy.
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What if I have a pre-existing condition?
If you enroll in a Medigap policy during the open-enrollment period, you cannot be denied coverage even if you have preexisting conditions. The six-month open-enrollment period starts the month you turn 65 and get enrolled into Medicare Part B. If you apply after this period, the insurer reserves the right to reject your application or increase your premium.
