Mutual of Omaha is a trusted insurance company that has been working in the insurance community since 1909. They begin with life insurance and financial products and are now a solid company providing health insurance to Medicare beneficiaries.

They are well known for sponsoring the show “Wild Kingdom.” Mutual of Omaha helped pilot the Medicare Supplement program and is still one of the top insurance companies in regard to Medigap plans.

Mutual of Omaha Medicare Plans

They have offered Medicare Supplement plans since they began in 1992. In addition to its Medicare Supplement offerings, they also sponsor Part D plans nationwide and have Medicare Advantage plans in select states.

Mutual of Omaha has a variety of subsidiaries that they operate. Some of their subsidiaries include United World, Omaha Insurance Company, and United of Omaha.

Today we’ll discuss Mutal of Omaha Medicare Supplement plans, followed by some information on their Medicare Advantage plans. Next, we’ll talk about the Mutual of Omaha Medicare prescription drug plans.

Then we’ll conclude with some information about their financial strength, answer some common questions, and show you how to get help with a Mutual of Omaha plan.

Mutual of Omaha Medicare Supplement Plans

As mentioned above Mutual of Omaha helped pilot the Medicare Supplement program. They have had great success with their Medigap business. They continue to remain one of the biggest and most trusted names in regard to Medicare Supplement providers.

One of the great things about Medicare Supplement insurance policies is that you have the freedom to see any providers nationwide. And they don’t require referrals, which makes it easy to use and has fewer hoops to jump through. Medigap plans significantly lower your out-of-pocket costs.

Mutual Of Omaha doesn’t offer every Medigap plan option. They focus on Plan F, Plan G, and Plan N. These three plans are the most popular Medicare Supplement plan letters and provide some of the best coverage you can get to go along with Medicare.

Mutual Of Omaha Top Medicare Supplement Plans

Plan F is the most popular Medicare Supplement plan. The reason it has been consistently the top plan is that you simply pay your monthly premium.

Plan F will pay your portion of the Medicare costs. Some of the costs it’ll cover are the Part B deductible, Medicare Part A deductible, copays, and coinsurance.

Plan G is the most popular plan for beneficiaries starting Medicare. With similar coverage to Plan F and a more affordable premium, Plan G is a very good option. The only difference in coverage between the two is that Plan G doesn’t cover the Medicare Part B deductible.

Plan N is a great plan option. Its pricing is significantly lower than the previous two plans we discussed, but the coverage is almost as good. The main differences are you’ll pay a copay when you visit your healthcare provider and the emergency room. In addition, Plan N doesn’t cover Part B excess charges.

Medicare Supplement plans are standardized. This means the coverage is the same no matter which company you choose, or where you live. There are a few states that have exceptions to the standardization. Those states are Wisconsin, Massachusetts, and Minnesota.

Mutual of Omaha Medicare Advantage Plans

Medicare Advantage plans are a way to get your Medicare benefits in an all-in-one plan that combines Part A, Part B, and in most cases Part D of Medicare. These plans focus on wellness and additional perks like dental and vision care.

Mutual of Omaha started offering Medicare Advantage plans a few years ago in Texas and Ohio. The two plans available were the Mutual of Omaha CareAdvantage Complete HMO and the CareAdvantage Plus HMO. They are no longer offering their Medicare Advantage plan and sold that portion of the business to Essence Healthcare.

Is Mutual of Omaha a PPO or HMO?

Mutual Of Omaha used to offer a couple of HMO Medicare Advantage plans. They have discontinued that portion of their business and are focused on their Medicare supplement insurance plans.

These plans work more like a PPO however it isn’t the same. A Medigap policy works as secondary coverage with Original Medicare.

Due to this reason you’re allowed to go to any provider nationwide that accepts Medicare, without the need for a referral.

Mutual of Omaha Medicare Part D

Part D plans are the insurance you use to pick up your prescription drugs from the pharmacy. Mutual of Omaha has two Part D plans to choose from. Mutual of Omaha Rx plans include the MutualofOmahaRX Premier plan, and the MutualofOmahaRX Plus plan.

The MutualofOmahaRX Premier plan has a lower premium than the MutualofOmahaRX Plus and has savings on select insulin drugs. These select insulin options will not be subject to the deductible and will have a copay of $25 for a 30-day supply.

Mutual Of Omaha Medicare Pros and Cons

Pros

  • A mutual company, not stock driven
  • Household discount in most states
  • Very Stable rate increases
  • Quick claims processes
  • Fantastic customer service

Cons

  • Rotate their companies, sometimes can cause inflated premium increases
  • Very strict underwrtiting

Mutual of Omaha Medicare Supplement Rate Increase History

Mutual of Omaha has a stellar record when it comes to premium rate increases. One way they keep their monthly premiums low, and the rates from increasing as high as many other carriers are due to them being a mutual company.

This means their shareholders are actually their policyholders. That means if you have a Mutual of Omaha Medigap policy, you are a shareholder. They in turn put profits back into the company to help keep prices and rate increases lower.

Another reason they keep their prices and increases lower is that they have strict policies on their underwriting. Since most Medicare Supplement insurance is underwritten, that means they have fewer people that are unhealthy which drives the rates up for their members.

Financial Strength Ratings

Moody’s, Standard & Poors, and AM Best are the companies that review and rate Medicare Insurance providers’ financial strength. Financial strength also affects rate increases. The stronger the company’s financial strength, typically the lower the rate increases.

  • AM Best provides Mutual Of Omaha with an “A+” superior rating.
  • Standard & Poots awards them a rating of “AA-” very strong.
  • Moody’s rates Mutual of Omaha an “A1” good rating.

Reviews

Mutual of Omaha is one of the most reputable carriers in the Medicare Supplemental Insurance realm. Their great financial strength ratings help keep the prices low.

They also offer a household discount for their members. They are one of the few Medigap companies that offer its own wellness program.

Their program is called Mutually Well and gives you access to 10,000 fitness locations and discounts on other services like massage, acupuncture, and chiropractic services.

FAQs

Is Mutual of Omaha the same as Medicare?

No! Mutual of Omaha provides Supplemental plans that assist with the high costs of Original Medicare.

Does Mutual of Omaha sell Medicare Supplement plans?

Yes! Medicare Supplement plans are a major portion of Mutual Of Omaha’s portfolio. They help beneficiaries pay for their Medicare copays, deductibles, coinsurance, and excess charges.

Is Mutual of Omaha a good Medicare Supplement?

Mutual Of Omaha is considered to be one of the top choices for a Medicare Supplement carrier. They have some of the best customer service available as well.

How long has Mutual of Omaha been selling Medicare Supplements?

Mutual Of Omaha has been in the Medicare Supplement business since the program begin in 1992. They were one of the companies that piloted the Medigap program.

Mutual of Omaha pick up the Medicare deductible?

Yes and No. Different plan letters have different coverage. Mutual of Omaha has plan options that will cover all of Medicare’s deductibles. They also have plans that don’t. Check with a licensed insurance agent to ensure you enroll in the plan that provides you with the coverage you want.

How much does Mutual of Omaha Plan G cost?

Medicare Supplement plans vary depending on location, age, health, and a variety of other factors. You can expect to pay between $90 and $200 a month for the Plan. It’s possible it could be higher depending on several factors.

What is the rating of Mutual of Omaha supplemental insurance?

AM Best provides Mutual Of Omaha an “A+” excellent rating. This is the highest rating they award.

What are the top 3 Medicare Supplement plans from Mutual of Omaha?

The top three plans for Mutual Of Omaha are Plans F, G, and Plan N.

Does Mutual of Omaha offer SilverSneakers?

No! They have their own fitness program called Mutually Well.

Does Mutual of Omaha Plan G cover prescriptions?

No! Medicare Supplements don’t cover prescription drugs. You should enroll in a Part D plan for prescription coverage.

Does Mutual of Omaha follow Medicare guidelines?

Yes! Mutual Of Omaha is required to follow all Medicare guidelines.

What is the difference between Mutual of Omaha and AARP?

Mutual of Omaha and AARP UnitedHealthcare both offer Medicare Supplement and Medicare Part D plans. AARP also offers Medicare Advantage plans. UnitedHealthcare put more focus on the Medicare Advantage area, whereas Mutual of Omaha focuses on Medicare Supplements.

How to Enroll in a Mutual of Omaha Medicare Plan

Mutual of Omaha is a great option to help with your Medicare costs, but which plan should you choose? That’s where we come in. We can help compare and educate you on your options. Verify the coverage meets your needs, and even help with the enrollment into the plan you choose.

For help, simply give u a call, or fill out our online request form. Our licensed brokers specialize in Medicare and can guide you through each step.

Written By:
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Lindsay Malzone, Lindsay Malzone is the Medicare editor for Medigap.com. She's been contributing to many well-known publications since 2017. Her passion is educating Medicare beneficiaries on all their supplemental Medicare options so they can make an informed decision on their healthcare coverage.
Reviewed By:
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Rodolfo Marrero, Rodolfo Marrero is one of the co-founders at Medigap.com. He has been helping consumers find the right coverage since the site was founded in 2013. Rodolfo is a licensed insurance agent that works hand-in-hand with the team to ensure the accuracy of the content.