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Mutual of Omaha Medicare Supplement new logo

A Review of Mutual of Omaha Medicare Supplement

Mutual of Omaha is a well-known brand-name and offers competitive pricing for Medicare Supplement plans. They have been offering Medicare Supplement plans since 1966.  Aside from competitive pricing, Mutual of Omaha is well known for excellent customer service.

What are the Main Reasons for Choosing Medicare Supplement Insurance Policies?

Beneficiaries 65 or older are driven by a strong desire to avoid network restrictions and medical management, while ensuring financial protection. Here are the individual reasons:

Ability to use any doctor or hospital

Want all medical bills paid for

Unrestricted access to medical specialists

Want simple coverage that will not change

Nationwide emergency coverage

Ability to receive care while travelling

Do not want co-pays for doctor visits

Key Features of Mutual of Omaha Supplement Insurance Plans

Quality customer service: Mutual of Omaha prides itself on its customer service and its ability to answer questions and resolve issues quickly.

Nationwide provider options: The company’s provider networks spans across the U.S., allowing customers a large variety in provider and hospital options.

Consumer-friendly website: Mutual of Omaha’s website explains Medicare coverage options and Medicare Supplement plans in simplified terms that are easy to understand.

Reputation: Mutual of Omaha has such a long reputation, and its Medicare Supplement plans are hard to beat by any other carrier.

What is the Monthly Cost for Mutual of Omaha Plan G?

Average monthly premium: The cost of a Medicare Supplement plan depends on a person’s health needs and the plan selected. For example, Plan G costs roughly $120 per month, according to Buechler.

Rate Stability: Mutual of Omaha offers long-term rate stability on Medicare Supplement products thanks to its large customer base.

Your Out of Pocket Expenses Medicare Supplement Insurance Plan G

Plan G provides coverage for Part A coinsurance and hospital stays, Part A deductible, Part B coinsurance or copayment, skilled care nursing facility coinsurance, Part B excess charges.  

Out of Pocket Expenses you pay =  Your monthly premium + 2024 Part B deductible of $240.

 

After the $240 is paid by you, all approved Medicare expenses are paid for you.

This is as close to 100% coverage as you can get with Medicare.

Your Out of Pocket Expenses with Medicare Supplement Insurance Plan N

Plan N nearly comes close to having the same benefits of Plan G.  The difference is that it will cost less because you are required to share the medical cost by paying copays at Doctor and hospital visits and Part B Excess Charges.

Out of Pocket Expenses you pay =  Your monthly premium + 2024 Part B deductible of $240 + Doctor office visits copays + hospital visits copay + Part B Excess Charges.

How Does Mutual of Omaha Rate?

Mutual of Omaha holds an A+ rating from AM Best and from Standard & Poor's Global. Mutual of Omaha has an A+ accreditation from the Better Business Bureau.

How Does Plan G From Mutual of Omaha Work?

Mutual of Omaha Supplemental Insurance is intended to help customers fill gaps in coverage provided Original Medicare (Part A and Part B). Depending on the plan selected, additional coverage can include copays, deductibles, insurance and internationally travel emergencies, among other benefits.

The most popular plan sold by Mutual Omaha is Plan G because of its simplicity. Plan G fills all the gaps in Original Medicare coverage two types of medical expenses. The first is the Part B deductible which is $240 per year in 2024. The second is 20% coinsurance for foreign travel emergency-related services. “People choose it because they want to know everything is covered,” says Chris Haire, vice president and actuary at Mutual of Omaha. Plan G covers 100% of the following benefits:

  • Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used

  • Medicare Part B coinsurance or copayment

  • Blood (the first three pints)

  • Part A hospice care coinsurance or copayment

  • Skilled nursing facility care coinsurance

  • Part A deductible

  • Part B excess charges incurred from seeing health care providers who don’t accept Medicare as full payment                                                                                                                                                                                                                                                                                                                                                                                     

The choice to purchase a Medicare Supplement plan through Mutual of Omaha isn’t so much about the details of the coverage. It comes down to the trust people associate with their brand.  As a mutual company, Mutual of Omaha doesn't have stockholders. They are owned by their policyholders, so customer focus is in their DNA. As Medigap plans are standardized, the differences are often found in the level of service a company provides.

On average, how many consumer complaints does Mutual of Omaha Medicare Supplement plans receive in a year?

When it comes to choosing a Medicare Supplement plan, it's important to consider the track record of the insurance provider. In comparison to other insurance companies, Mutual of Omaha tends to have a low number of consumer complaints. This suggests that their customer service and claims processing are reliable, providing peace of mind for policyholders. It's always a good idea to do your own research and compare reviews before making a decision on your Medicare Supplement plan.

How Long Has Mutual of Omaha Been Selling Medicare Supplement plans?

Mutual of Omaha has offered Medicare Supplement insurance since 1966 and an online application option for these plans since 2014.

Summary

Mutual of Omaha is known nationwide for competitive pricing, excellent customer service, strong financial strength, and a solid reputation.  They are the number two provider of supplement insurance nationwide.  It would be tough to find a Medicare Supplement as good as Mutual of Omaha. 

 

Click on the Mutual of Omaha logo below to enroll with their link to their HIPPA compliant Electronic Medicare Supplement Insurance purchase page. 

Mutual of Omaha Medicare Supplement new logo

You Can Submit an Application if:

1.  It is within 6 months of your effective date for Part B or from turning 65, or

 

2.  Any time of the year or age if you already have Medicare supplement insurance.

Please call 217-290-1768 if you would like assistance.

If you already have Medicare supplement insurance and would be switching to Mutual of Omaha, your application will be reviewed by underwriting. Applications should not be submitted to underwriting if the applicant has any of the following conditions:

AIDS

Alzheimer’s Disease

ARC

Any cardiopulmonary disorder requiring oxygen Cirrhosis Chronic Hepatitis.

Chronic Kidney/Renal Disease

Chronic Obstructive Pulmonary Disease (COPD)

End-Stage Renal Disease (ESRD)

Kidney Disease requiring dialysis

Kidney (Renal) Failure/End-Stage Renal Disease

Any kidney disorder that has the applicant being evaluated for, or who is currently on dialysis.

Amyotrophic Lateral Sclerosis (Lou Gehrig’s Disease)

Lupus – Systematic

Multiple Sclerosis

Myasthenia Gravis

Organ Transplant

Osteoporosis with Fracture

Parkinson’s Disease

Pulmonary Hypertension

Senile Dementia

Other cognitive disorders to include:

• Mild Cognitive Impairment (MCI)

• Delirium

• Organic Brain Disorder

• Cerebrovascular Disease with Cognitive Deficits.

• Dissociative Amnesia

• Huntington’s Chorea (Huntington’s Disease)

• Post-Concussion Syndrome with residual problems

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