Aetna vs. Mutual of Omaha Medicare Supplement Plans
When it comes to Medicare Supplement (Medigap) insurance, two of the most well-established and trusted names in the industry are Aetna and Mutual of Omaha.
Both companies have decades of experience, strong reputations, and a long history of serving Medicare beneficiaries across the country.
While Medicare Supplement plans are standardized by plan letter (meaning a Plan G with Aetna covers the same benefits as a Plan G with Mutual of Omaha), there are important differences regarding:
- Pricing
- Rate stability
- Underwriting flexibility
- Customer experience
These factors can significantly impact both your short-term budget and your long-term peace of mind.
Both Aetna and Mutual of Omaha are known for competitive Medigap pricing in many states, making them frequent top choices for Medicare shoppers.
And in 2025, the topic of carrier stability is more important than ever.
In just the past year, newer entrants like ACE and Allstate exited the Medigap market entirely, leaving many policyholders frustrated and forced to consider other options. That’s why choosing a carrier with a proven track record matters.
In this guide, we’ll compare Aetna and Mutual of Omaha side by side, breaking down their strengths and differences and explaining what you should consider when deciding which company is right for you.
Let’s start with general overviews of both companies.
Aetna Medicare Supplement Overview
When it comes to Medicare Supplements, Aetna is one of the most recognized and trusted names.
With a history dating back over 160 years in the insurance industry, Aetna has built a strong reputation in the Medicare space and has been offering Medigap plans for decades.
This long-standing presence gives beneficiaries confidence that they’re choosing a carrier with the financial strength and experience to remain stable well into the future.
Competitiveness in the Medigap Market
Over the years, Aetna has consistently been one of the more competitive carriers in the Medicare Supplement market. In many states, Aetna’s Plan G and Plan N have ranked among the most affordable options, while still maintaining a reputation for fair and predictable rate increases.
While premiums can vary depending on your ZIP code, age, and discounts, Aetna has proven itself as a reliable choice across multiple regions of the U.S.
Most Popular Aetna Plans
- Plan G: The most comprehensive option for those new to Medicare, covering nearly every gap except the Part B deductible.
- Plan N: A cost-conscious alternative with lower premiums, small copays, and no coverage for excess charges.
- High-Deductible Plan G: A budget-friendly option that provides the same coverage as standard Plan G after you meet the annual deductible ($2,870 in 2025).
These three options give beneficiaries flexibility – whether they want comprehensive coverage, lower premiums with manageable copays, or a plan designed to minimize monthly costs.
Key Features of Aetna Medigap Plans
- Household Discounts: These are available in many states, allowing couples or people living together to reduce their premiums.
- Broad Availability: Aetna offers Medicare Supplement plans nationwide, giving many beneficiaries the option to choose them regardless of where they live.
- Rate Stability: Historically, Aetna’s rate adjustments have been manageable, giving clients peace of mind that their coverage will remain affordable.
- Digital Tools and Support: Aetna provides a robust member portal and online resources, making it easier for policyholders to manage their coverage and access important documents.
Why Clients Choose Aetna
From my perspective as a broker, clients often choose Aetna because they combine competitive pricing with the reassurance of a long-standing carrier.
Unlike some newer entrants that undercut the market with artificially low rates and exit after a few years (as we saw with ACE and Allstate in 2025), Aetna has proven it can compete while also being there for the long haul.
For many, that balance of affordability and stability makes them a top choice.
Mutual of Omaha Medicare Supplement Overview
Few names carry as much weight in the Medicare Supplement world as Mutual of Omaha.
Founded in 1909, the company has been serving seniors for over a century and has long been recognized as a dominant player in the Medigap market.
For many people shopping for a Medicare Supplement, Mutual of Omaha is one of the first carriers that comes to mind – and for good reason.
A Proven Competitor in Medigap
Mutual of Omaha has been a long-standing leader in Plans G and N, two of the most popular choices for Medicare beneficiaries today.
Historically, they’ve been known for competitive rates in a wide variety of states, coupled with a reputation for fast claims processing and excellent customer service. Their established presence gives clients confidence that they’re choosing a company built to last.
Most Popular Mutual of Omaha Plans
- Plan G: The go-to choice for new Medicare enrollees who want the most comprehensive coverage (everything except the Part B deductible).
- Plan N: A lower-premium alternative to Plan G, offering strong protection with small copays.
- Plan F: Still available if you became Medicare-eligible before January 1, 2020. This plan remains popular with long-time policyholders who value its “first-dollar” coverage.
Key Features of Mutual of Omaha Medigap Plans
- Generous Household Discounts: In many states, Mutual of Omaha offers one of the best household discounts in the industry, making coverage more affordable for couples or people living with another Medicare enrollee.
- Large Member Base: Their sheer size in the Medigap market means they’ve built large, stable risk pools, which often helps with rate stability over time.
- Fast Claims Handling: Mutual of Omaha has a strong reputation for quick, efficient claims processing.
- Extra Perks in Some States: In select markets, Mutual of Omaha offers added benefits such as vision and hearing discounts, making their plans more attractive to seniors looking for a little extra beyond the standardized Medigap coverage.
Why Clients Choose Mutual of Omaha
From my experience as a broker, Mutual of Omaha appeals to clients who value name recognition, stability, and customer service.
They aren’t always the absolute lowest in premium, but many beneficiaries feel the peace of mind that comes with such a well-established carrier is worth the difference.
When clients want a company they know will be there long-term – with a reliable rate history and excellent claims service – Mutual of Omaha is almost always in the conversation.
Aetna vs. Mutual of Omaha: Company Similarities
Even though Aetna and Mutual of Omaha are two different companies, they have quite a bit in common when it comes to their Medicare Supplement plans.
That’s because Medigap benefits are standardized by plan letter, meaning a Plan G with Aetna covers the exact same benefits as a Plan G with Mutual of Omaha. The only real differences you’ll see are in price, rate history, and any extra perks the company may offer.
Another important similarity is nationwide portability. With either carrier, you can see any doctor or hospital in the U.S. that accepts Medicare, and your plan travels with you if you move or spend time in another state.
Both companies also provide household discounts in many states, which can lower costs for couples or people living with another Medicare enrollee.
And not surprisingly, both Aetna and Mutual of Omaha focus heavily on the most popular plans: Plan G, Plan N, and High-Deductible Plan G. These three options cover the vast majority of what Medicare beneficiaries are looking for, whether it’s maximum coverage, lower premiums with copays, or the budget-friendly high-deductible route.
So while Aetna and Mutual of Omaha each bring their own strengths to the table, the core benefits are identical – giving you the peace of mind that you’re not losing coverage by picking one over the other.
Aetna vs. Mutual of Omaha: Key Differences
Even though Aetna and Mutual of Omaha share a lot of similarities when it comes to their Medicare Supplement plans, there are some important differences that might make one company a better fit for you than the other.
#1: Market History: Mutual of Omaha has been in the Medicare Supplement business longer than almost anyone, earning a reputation as one of the most trusted Medigap carriers in the country.
While also a long-standing insurance name, Aetna became especially competitive in the Medigap space more recently and has grown rapidly thanks to consistently strong pricing in many states.
#2. Perks and Member Benefits: Mutual of Omaha generally keeps things simple, focusing on the core Medigap coverage with a few extras like vision and hearing discounts in some states.
On the other hand, Aetna has invested in tech-forward tools and digital resources, making it easy for members to manage coverage online.
Neither carrier is overloaded with extras, but Aetna offers a smoother digital experience while Mutual of Omaha emphasizes tradition and stability.
#3. Household Discounts: Both companies offer household discounts, but the details differ. Mutual of Omaha often has one of the most generous discounts in the industry (up to 12% in some states).
Aetna also offers solid discounts, though the percentage and eligibility rules vary by state. This can make a big difference for couples or anyone living with another Medicare enrollee.
#4. Brand Recognition vs. Tech-Forward Tools: Mutual of Omaha carries significant brand recognition, with over a century of history and a strong reputation among Medicare beneficiaries. Many clients feel a sense of trust simply because of the name.
While also well-established, Aetna takes a more modern, tech-savvy approach, offering better online account management and digital resources for members who like to handle things electronically.
-
In a nutshell:
Mutual of Omaha shines in name recognition, household discounts, and long-standing leadership in Medigap. Aetna appeals to those looking for competitive rates and a more digital-friendly experience.
The better fit often depends on whether you value longstanding tradition or modern convenience.
Aetna vs. Mutual of Omaha: Provider Networks
One of the biggest advantages of a Medicare Supplement plan is the freedom it gives you to choose your doctors and hospitals.
With both Aetna and Mutual of Omaha, the answer is clear: No, you don’t have to stay within a provider network.
As long as a provider accepts Medicare, your plan will be accepted. That means you can see any doctor or hospital nationwide that takes Medicare patients, without worrying about whether they’re “in-network.”
No referrals are required, so if you want to see a specialist, you can go directly – no waiting around for a primary care doctor’s approval.
This stands in sharp contrast to Medicare Advantage plans, which typically limit you to HMO or PPO networks. With Advantage plans, you may need referrals and prior authorizations, and you could face higher costs if you go out-of-network.
Medigap plans through Aetna or Mutual of Omaha eliminate those headaches by keeping it simple: if the provider accepts Medicare, your plan works there.
For many of my clients, this nationwide freedom of choice is one of the top reasons they prefer a Medicare Supplement over Medicare Advantage.
Aetna vs. Mutual of Omaha: Rate Stability
One of the most important factors when choosing a Medicare Supplement is how a company handles rate increases over time. It’s easy to get excited about the lowest premium in year one, but if that company has a history of steep annual increases, the “cheapest” plan may not stay that way for long.
Both Aetna and Mutual of Omaha have long-standing records in the Medigap market, which gives us a good amount of history to evaluate.
Over the years, each has generally followed industry norms with moderate annual adjustments.
Neither is immune from increases, but both have proven to be more stable than some of the newer carriers that enter the market with very low pricing and then raise rates aggressively.
That said, rate stability can look very different from one state to another. Aetna may have a strong record of modest increases in one area, while Mutual of Omaha may be more stable in another.
This is why reviewing rate history in your specific state is key to making a smart long-term decision. What looks like a small difference in premium today can translate into thousands of dollars over the course of your retirement.
Understanding How Rate Increases Work
One of the most overlooked parts of choosing a Medicare Supplement plan is how your premiums will change over time. It’s easy to compare two first-year rates and pick the cheapest, but the real story often unfolds over the next five or ten years.
The Three Pricing Models
Medicare Supplement carriers can set their rates using different pricing models:
- Attained-Age Rated – The most common method. Your premium is based on your current age, so it increases automatically as you get older. On top of that, you’ll also see periodic rate increases due to inflation and rising healthcare costs.
- Issue-Age Rated – Your premium is based on the age you are when you first enroll. It won’t go up just because you’re older, though increases for inflation and healthcare costs still apply.
- Community-Rated – Everyone in a given area pays the same premium, regardless of age. These plans tend to have smaller yearly increases, but may start out with a higher base premium.
Knowing which pricing model is used in your state is critical because it directly affects what you’ll be paying five or ten years from now.
Why the Lowest First-Year Rate Isn’t Always the Cheapest
Imagine two carriers offering Plan G in your ZIP code:
- Carrier A: $120 per month, but premiums increase by about 9% per year
- Carrier B: $130 per month, with increases averaging only 3% per year
At first glance, Carrier A looks like the better deal. But after five years, the picture changes:
| Year | Carrier A (9% Increases) | Carrier B (3% Increases) |
|---|---|---|
| 1 | $120 | $130 |
| 2 | $131 | $134 |
| 3 | $143 | $138 |
| 4 | $156 | $142 |
| 5 | $170 | $146 |
By year five, Carrier B is clearly the better value, even though its first-year premium was higher. This is why reviewing rate history in your state is just as important as comparing initial premiums.
When I help clients compare Aetna and Mutual of Omaha (or any other carrier), I don’t just look at today’s price. I also review how those carriers have handled rate increases over the years.
A slightly higher starting premium with a stable carrier can save you thousands in the long run compared to a company that lures you in with a low first-year rate but hikes aggressively after that.
Why Carrier Longevity Matters
Newer companies sometimes enter the Medigap market with aggressively low premiums designed to grab attention. While that might sound appealing at first, it often comes with a hidden risk.
Without a long track record, it’s hard to know how those premiums will hold up over time – and history shows that many don’t.
Recent Examples: ACE and Allstate
In 2025, we saw two high-profile examples:
ACE and Allstate both entered the Medigap market with very competitive rates, undercutting long-standing carriers to win business.
But by the summer of 2025, both companies had exited the Medigap market entirely, leaving their policyholders stuck with shrinking risk pools and less stability going forward.
How Exits Impact Policyholders
When a carrier leaves the Medigap market, the consequences can be significant:
- Premiums may rise faster since no new members are being added to balance the risk pool.
- Some policyholders feel forced to switch carriers, which can mean going through medical underwriting if they’re outside their guaranteed issue window.
- Many lose the peace of mind they originally sought by choosing a Medicare Supplement.
Bottom Line: This is why choosing a carrier like Aetna or Mutual of Omaha, both of which have decades of experience in Medigap, is such an important part of the decision.
Aetna vs. Mutual of Omaha: Medigap Cost Comparison
Looking for the cheapest Medicare Supplement doesn’t have a one-size-fits-all answer – it depends on your state, age, and household discount eligibility.
To help, here are verified 2025 sample Plan G premiums for a 65-year-old non-smoker across four different states.
Plan G Premium Comparison
| State | Aetna Plan G | Mutual of Omaha Plan G | Monthly Difference | Annual Savings |
|---|---|---|---|---|
| Texas | $220.25 | $198.38 | $21.87 (Mutual cheaper) | $262.44 |
| Florida | $280.47 | $227.25 | $53.22 (Mutual cheaper) | $638.64 |
| Ohio | $180.34 | $175.48 | $4.86 (Mutual cheaper) | $58.32 |
| Pennsylvania | $211.00 | $221.79 | $10.79 (Aetna cheaper) | $129.48 |
(Estimates based on available quotes. Actual pricing can vary by ZIP code, gender, and household discount eligibility.)
Premium Analysis:
- Mutual of Omaha dominates in three out of four states, offering between 3% and 19% lower premiums than Aetna.
- Florida shows the biggest gap, with Mutual nearly 19% cheaper than Aetna.
- Pennsylvania flips the trend, where Aetna edges out with about a 4% savings compared to Mutual.
This highlights that while Mutual of Omaha generally holds the price advantage for 2025 Plan G, local variations mean that getting a ZIP-code-specific quote is essential. Even small percentage differences can add up to hundreds of dollars annually.
Across multiple states, Mutual of Omaha generally offers lower Plan G premiums than Aetna, often saving beneficiaries between $20 and $50 per month, which adds up to hundreds of dollars annually.
However, the results also show that pricing can flip depending on the state. For example, while Mutual of Omaha is clearly cheaper in Florida and Texas, Aetna edges out in Pennsylvania.
This reinforces why local ZIP code quotes and rate history matter as much as first-year premiums. Both carriers are strong, but if cost is your deciding factor, Mutual of Omaha tends to hold the advantage in most regions for 2025.
Aetna vs. Mutual of Omaha: Customer Service and Claims Experience
When comparing Medicare Supplement carriers, it’s easy to focus only on premiums. But the way a company treats its policyholders after you’ve signed up matters just as much.
Let’s take a look at how Aetna and Mutual of Omaha stack up when it comes to customer service and claims.
#1. Claims Processing Speed: Both carriers have strong reputations for paying claims quickly, often within days once Medicare has processed its portion.
This is one advantage of choosing established companies with large Medigap membership bases – they’ve streamlined the process and have the resources to pay promptly.
In my experience, clients with both Aetna and Mutual of Omaha rarely see delays.
#2. Customer Satisfaction and Ratings: Aetna generally receives solid reviews for service, with many policyholders noting the ease of using their online tools and member portals. Their digital-first approach is especially appreciated by those who prefer managing things electronically.
Mutual of Omaha has long been recognized for high customer satisfaction, particularly for its responsiveness and clear communication. Clients often appreciate the traditional phone support and the reputation for personal service.
#3. Broker Insights: From a broker’s perspective, I’ve seen both carriers handle service issues reliably. With Aetna, when a problem comes up, their agent support line is efficient, and cases get resolved quickly.
With Mutual of Omaha, the strength lies in their consistency. They’ve been doing this for so long that service feels predictable, which is comforting for many seniors who want as few surprises as possible.
Bottom Line: You can feel confident with either carrier when it comes to service and claims. Aetna stands out for its modern, digital-friendly tools, while Mutual of Omaha wins on reputation, consistency, and personal touch.
The “better” fit often depends on whether you want tech convenience or the reassurance of a century-old brand known for customer care.
Matching a Medigap Plan to Your Needs
At the end of the day, the choice between Aetna and Mutual of Omaha often comes down to your personal priorities. Both companies provide excellent Medicare Supplement coverage, but their strengths show up differently depending on where you live.
Aetna: Stability With Select Pricing Advantages
Aetna has been a steady force in the Medigap market for decades. They excel in rate stability, strong member tools, and broad state availability.
While their pricing is slightly higher than Mutual of Omaha’s (like Florida and Texas) in many states, there are cases – such as Pennsylvania and parts of Ohio – where Aetna matches or even beats Mutual of Omaha on Plan G premiums.
Aetna remains a solid pick if you value a long-term track record, predictable rate increases, and a digital-friendly experience.
Mutual of Omaha: Competitive Rates and Household Savings
Mutual of Omaha consistently shows up as one of the more competitively priced carriers in 2025. In Florida and Texas, their Plan G premiums are often $30–$50 per month lower than Aetna, which adds up to hundreds of dollars in annual savings.
Even in Ohio, their pricing is a touch better in many ZIP codes. Add in one of the most generous household discounts (up to 12%), a reputation for fast claims handling, and brand trust built over a century, and Mutual of Omaha is an easy choice for retirees who prioritize savings without giving up reliability.
High-Deductible Plan G: A Budget-Friendly Equalizer
For cost-conscious shoppers, High-Deductible Plan G is worth a hard look no matter which company you lean toward. The deductible is just over $2,800 in 2025, but once met, the coverage is identical to standard Plan G.
Premiums are typically half the price of a regular Plan G, making this option a smart strategy for retirees who want protection from major healthcare expenses while keeping monthly costs low.
Quick Summary
- Aetna is best for long-term stability, dependable rate history, and competitive pricing in states like Pennsylvania and Ohio.
- Mutual of Omaha is best if you want lower upfront premiums (especially in Texas and Florida), household savings, and a carrier with unmatched brand trust.
- High-Deductible G is best if your top priority is minimizing monthly premiums while keeping full Medicare coverage after the deductible.
Can You Switch Companies Later?
One of the biggest questions I hear from clients is, “If I pick the wrong company now, can I switch later?”
The answer is yes, but with an important caveat: outside of your Medigap Open Enrollment Period, switching usually requires going through medical underwriting.
Let me explain a little further.
During your six-month Medigap Open Enrollment window (which starts the month you turn 65 and enroll in Part B), you can pick any plan from any carrier with no health questions asked.
After that, if you want to switch companies – say from Aetna to Mutual of Omaha, or vice versa – the new carrier can require medical underwriting. That means your approval depends on your current health.
Both Aetna and Mutual of Omaha typically process underwriting applications in about a week or two, though timelines can vary by state and by the time of year.
In my experience helping clients, both carriers are fairly consistent and transparent during this process. Neither has an especially difficult reputation compared to other big Medigap insurers.
If you’re outside your guaranteed issue window, certain health conditions could make it difficult – or even impossible – to switch Medigap carriers.
These often include:
- Recent heart attack or stroke
- Congestive heart failure
- Uncontrolled diabetes
- Certain types of cancer treatment in the past two years
- End-stage renal disease (ESRD)
Even more routine health issues (like COPD, insulin use, or recent hospitalizations) can lead to a denial depending on the company’s underwriting guidelines.
The bottom line is: Yes, you can switch from Aetna to Mutual of Omaha or the other way around, but whether you’ll be approved depends on your health if you’re outside of your initial enrollment window. That’s why I encourage clients to consider long-term stability and rate history when picking a plan the first time.
The fewer times you need to switch, the less you’ll have to worry about underwriting standing in your way.
Final Thoughts
After helping thousands of clients over the years, one thing has become clear: there’s no such thing as a one-size-fits-all Medicare Supplement plan.
Both Aetna and Mutual of Omaha are excellent companies, but the “better” choice really depends on your ZIP code, your health, and what you value most.
As a broker, I’ve seen many people gravitate to the lowest first-year premium, only to regret it later when rates rise more quickly than expected. That’s why I always emphasize the importance of balancing starting price with long-term rate history.
Mutual of Omaha often wins on upfront cost and household discounts, while Aetna frequently shines in its stability and tech-forward tools. Both approaches have their place – the key is knowing which one fits you best.
If you’re trying to decide between Aetna and Mutual of Omaha, the smartest move is to get a side-by-side quote for your ZIP code, along with a review of each carrier’s rate increase history in your state. That’s the only way to see the true picture of costs today – and what they may look like years from now.
When you work with one of our licensed agents, you’re not just buying a plan – you’re gaining a guide who can help you avoid common pitfalls, compare options beyond the first-year price, and make sure you’re set up with coverage that works for you both now and in the future. We’d be happy to help!
FAQs
- Which company has cheaper Medicare Supplement rates - Aetna or Mutual of Omaha?
- Do Aetna and Mutual of Omaha Medicare Supplement plans cover different benefits?
- Which company is more stable long term?
- Do I need to stay in a doctor network with either Aetna or Mutual of Omaha?
- Is High-Deductible Plan G worth it?
