Mutual of Omaha Medicare Supplement Review: F, G and N Plans
Mutual of Omaha Insurance Company offers Medicare Supplement insurance in most states. Popular Medigap policies include Plans F, G, N, and high-deductible plans. Company reviews are positive overall, but some customers complain about rate increases.
Key Features of Mutual of Omaha Medicare Supplement Plans
- Reduces out-of-pocket costs to make health care more affordable
- Eliminates or minimizes deductibles, coinsurance, and copayments
- Coverage is offered in most states (however, not all ten standardized Medigap plans are offered in every state)
- Vision discounts (EyeMed)
- Hearing discounts (Amplifon)
- Discounts for wellness (Mutually Well)
Mutual of Omaha Pros & Cons
Pros: Positive Reviews
BBB gave Mutual of Omaha an A+ rating.
An overall customer 4.5-star rating, with high marks in confidence and satisfaction.
Cons: Rate Increase History
The Mutual of Omaha Medicare Supplement plan uses an attained-age approach to determine rates; therefore, policyholders can expect an annual premium increase. While this method is common, Marketwatch.com remarked on customer complaints about higher-than-average rate increases.
Note: premiums vary by location; some states do not allow attained-age pricing.
Forbes ranked the Mutual of Omaha Group in the Top 5 Medicare Supplement Companies for 2023.
AM Best confirmed their financial strength and long-term issue credit as superior.
This speaks well of Mutual of Omaha Group’s creditworthiness, stability, strong operating performance, and leading market position in Medicare Supplement products.
Coverage and Plan Benefit Features
Mutual of Omaha Insurance Company cites Plans F, G, and N as their most popular Medigap supplemental health care insurance plans. These plans offer considerably more benefits than the most basic Medigap policy (Plan A).
Medicare Plan F
Medicare Supplement Plan F was the most popular plan for new Medicare recipients until January 1, 2020, when federal legislation ended Plan F and Plan C for newly eligible beneficiaries. However, if you were eligible for Medicare coverage before the phase-out date, you could still purchase one of these plans if available in your state.
Plan F coverage includes:
- Complete coverage of approved hospital costs up to 365 days after you exhaust your Medicare Part A benefits through Original Medicare (including coinsurance)
- Medicare Part B copays and Part B coinsurance (includes doctor visits)
- First three pints of blood (not covered by Original Medicare)
- Medicare Part A hospice copays and coinsurance
- Skilled nursing facility coinsurance
- Medicare Part A deductible and Part B deductible
- Part B excess charges
- Foreign travel emergency care (80% of covered out-of-pocket costs up to the plan limit)
Medicare Plan G
If you want the benefits provided in Plan F but are not eligible, Medicare Supplement Plan G may be your health insurance solution. With Plan G, you will pay the Part B deductible out-of-pocket, but you will generally get a lower premium than with Plan F. With an expected out-of-pocket cost of $226 per year (2023 Part B deductible), you may choose Plan G even if you are eligible for Plan F.
Difference between Plan F and Plan G:
Part B deductible coverage (Plan F covers the deductible; Plan G does not)
Medicare Plan N
Plan N covers the same benefits as Plan G with these exceptions:
- Part B excess charges are not covered.
- Doctor visits requiring copays will cost $20 per visit.
- Emergency room visits not leading to inpatient admission require a $50 copay per visit.
Cost of a Mutual of Omaha Medigap Plan
|Plan F||$195.09||Male age 70||TX|
|Plan G||$105.62||Female age 65||OH|
|Plan N||$91.46||Female age 65||PA|
|Plan A||$185.93||Male age 65||CA|
The cost of a Mutual of Omaha Medicare Supplement plan is influenced by the following:
- state regulations
- the type of Medigap plan you buy
- your location, specific to your zip code
- eligibility for a household discount (allowable in select states)
Enrollment outside the Medigap Open Enrollment Period also plays a significant role in determining the cost of your Medigap plan. Your Medigap Open Enrollment Period is a six-month period that begins on the first day of the month during which you are both 65 years of age and are enrolled in Medicare Part B. If you miss the Medigap Open Enrollment Period, which ends six months after the above conditions are met, you will likely be subject to higher premiums based on your health conditions.
How Do I Enroll in a Mutual of Omaha Medicare Supplement Plan?
- To prepare for enrollment in a Mutual of Omaha Medigap plan, discussing your healthcare needs and preferences with a licensed insurance agent may be helpful.
- Ensure your Medicare ID card is handy, as you will need proof of Medicare Part B coverage.
- If you are signing up after the Medigap Open Enrollment Period, be prepared to discuss health conditions that may impact pricing. Your agent can then walk you through the application process.
Note: Depending on where you live, you may purchase your Mutual of Omaha Medicare Supplement insurance through an affiliate of the Mutual of Omaha Insurance Company, such as Omaha Supplemental Insurance Company or Omaha Insurance Company.
Does Mutual of Omaha Offer Silversneakers?
Mutual of Omaha does not offer SilverSneakers, but the insurer does have a health and fitness program named Mutually Well. When you register for Mutually Well, you gain access to discounts on wellness products, nutrition information, and gym memberships.
Does Mutual of Omaha Have a Medicare Advantage Plan?
Until 2020, the insurance company offered Medicare Advantage (Medicare Part C) but does not any longer. If you are a Medicare Advantage (MA) member, you must first drop your MA plan and return to Original Medicare if you want to obtain Medicare Supplement insurance. Using Medicare Supplement insurance plans to cover MA out-of-pocket costs is prohibited, so having both plans is neither an option nor a benefit.
Do They Offer Prescription Drug Plans?
Medicare Supplement insurance does not include Medicare Part D prescription drug coverage, but beneficiaries can purchase Part D coverage from Mutual of Omaha. Part D is a separate insurance policy requiring a monthly premium and deductible, and some drug purchases may require coinsurance payments or copays.
It’s a good idea to check the plan’s formulary (an approved drug list) to confirm the medications that you need are included. Review the list before you enroll, and look for formulary updates annually.
Ready to Learn More?
Choosing the right Medicare Plan is not a decision that should be taken lightly. With Policy Guide’s assistance, you will have access to the knowledge and expertise of professional agents who can help you compare different health plans, quotes, and policies to ensure that you make an informed decision. Let us guide you through this process, so that your chosen plan best suits your needs.