Mutual of Omaha Medicare Plans Review
Mutual of Omaha Medicare plan options include Medicare Supplement plans (Medigap) and Medicare Part D prescription drug plans, as well as dental insurance and dental savings plans. Learn more about Mutual of Omaha Medicare plans in our review of plan benefits, costs and coverage.
Mutual of Omaha is one of the leading private Medicare insurance companies. While the company sold its Medicare Advantage operations in 2020, Mutual of Omaha still provides Medicare Part D and Medicare Supplement Insurance in locations all over the U.S.
Learn more about Mutual of Omaha Medicare plans below.
Mutual of Omaha was founded in 1909 and today serves nearly 12 million members, including nearly 5 million individual product customers and is a Fortune 500 company.
Depending on where you live in the country, you may have Medicare plan options available that are underwritten by Mutual of Omaha Insurance Company or one of its affiliate companies, such as United World Life Insurance Company, United of Omaha Life Insurance Company and Omaha Insurance Company.
Consumer Affairs has given Mutual of Omaha a 4 out of 5 star overall rating for 2021.
Having Medicare doesn’t mean all of your health care expenses are covered. There are still Medicare deductibles, copayments, copayments and other out-of-pocket costs you may have to pay. Many beneficiaries turn to a Mutual of Omaha Medicare Supplement Insurance (Medigap) plan for help paying for some of these out-of-pocket Medicare costs.
Mutual of Omaha offers several different Medigap plans in each state, including the highly-popular Plan F and high-deductible Plan F. Additional plan plans may be available in select markets. The availability and price of plans may differ by location, but the benefits offered by a type of plan do not (Medigap Plan G in New York pays for the same Medicare costs as Medigap Plan G in Arizona).
Mutual of Omaha Medicare Supplement Plan F
Plan F is the only type of standardized Medigap plan to provide coverage in each of the nine benefit areas covered by Medicare Supplement Insurance. Because of its comprehensive coverage, Plan F members benefit from having very few out-of-pocket Medicare costs.
However, federal legislation prevents anyone who first became eligible for Medicare after January 1, 2020 from enrolling in Medigap Plan F. If you became eligible for Medicare before 2020, you can still apply for Plan F if it’s available where you live.
Mutual of Omaha also offers the high-deductible version of Plan F. If you enroll in high-deductible Plan F, you have to meet a $2,370 deductible in 2021 before your plan coverage kicks in. High-deductible Plan F typically has a lower monthly premium than other types of Medigap plans, which is a reason some beneficiaries might choose it.
Mutual of Omaha Medicare Supplement Plan G
Medicare Supplement Plan G offers identical benefits to Plan F with the only exception being a lack of coverage for the annual Medicare Part B deductible (which is $203 per year in 2021). Plan G is not subject to the federal enrollment restrictions found with Plan F, which means even the new Medicare beneficiaries can apply for Plan G if it’s available.
There’s also a high-deductible version of Plan G available in some areas.
Mutual of Omaha Medicare Supplement Plan N
Medicare Supplement Plan N offers all of the same benefits as Plan G except that it doesn’t cover Medicare Part B excess charges.
A Medicare excess charge can happen when a doctor or provider accepts Medicare patients but doesn’t accept Medicare assignment, which means they might not accept the Medicare-approved amount for a service as payment in full. In this case, they can charge you up to 15% more than the Medicare-approved amount.
While Medicare Part B excess charges can add up quickly, they are also not very common, and you can avoid them by only visiting doctors and providers who accept Medicare assignment.
Medigap Plan N covers many Medicare Part B costs, but there are certain circumstances when you might have to pay a copay of up to $20 for some doctor’s office visits and up to a $50 copay if you go to the emergency room and aren’t admitted for inpatient hospital care.
Plan N is popular partly because its monthly premiums tend to be lower than some other Medigap plans, in exchange for the small cost-sharing requirements like copays.
Mutual of Omaha Medicare Supplement Plan A
Plan A is the most basic Medigap plan. It covers Medicare Part A and B coinsurance costs and copayments, along with the first three pints of blood needed for a blood transfusion (if the hospital doesn’t provide the blood for free).
Any insurance company that offers Medicare Supplement plans is required to sell at least Plan A, even if it’s the only Medigap plan they sell.
Additional Mutual of Omaha Medigap Benefits
In 2018, Mutual of Omaha added the Mutually Well healthy lifestyle program to some of its Medicare Supplement plans. This bonus benefit grants members access to thousands of fitness facilities across the U.S. and discounts on various wellness products and services.
Mutual of Omaha Medigap enrollees are often eligible for a discount for being married or living with someone 60 or over, even if that person is not enrolled in a Mutual of Omaha plan.
One other attractive feature for consumers is that Mutual of Omaha is owned by its policyholders, not by shareholders.
The chart below shows the full comparison of each type of Medigap plan and its benefits. Note that Mutual of Omaha may not offer each of these types of plans where you live.
|Medicare Supplement Benefits||A||B||C1||D||F1||G||K||L||M||N|
|Part A coinsurance and hospital costs||✓||✓||✓||✓||✓||✓||✓||✓||✓||✓|
|Part B coinsurance or copayment||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|First 3 pints of blood||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|Part A hospice care co-insurance or co-payment||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|Co-insurance for skilled nursing facility||✓||✓||✓||✓||50%||75%||✓||✓|
|Medicare Part A deductible||✓||✓||✓||✓||✓||50%||75%||50%||✓|
|Medicare Part B deductible||✓||✓|
|Medicare Part B excess charges||✓||✓|
|Foreign travel emergency||80%||80%||80%||80%||80%||80%|
|1. Plans C and F are not available to new beneficiaries who became eligible for Medicare on or after January 1, 2020.
2. Plans F and G also offer a high deductible plan which has an annual deductible of $2,370 in 2021. Once the annual deductible is met, the plan pays 100% of covered services for the rest of the year. The high deductible Plan F is not available to new beneficiaries who became eligible for Medicare on or after January 1, 2020.
3. Plan K has an out-of-pocket yearly limit of $6,220 in 2021. Plan L has an out-of-pocket yearly limit of $3,110 in 2021.
4. Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to $50 for emergency room visits that don’t result in an inpatient admission.
View an image version of this table.
A Medicare Part D plan from Mutual of Omaha provides coverage for prescription drugs, which are not included under Medicare Part A or Part B. Part D plans can be used alongside your Original Medicare coverage and a Medicare Supplement plan.
Mutual of Omaha’s Part D plan selection may vary by location, but some of the features you are likely to find include:
- Monthly premiums as low as $23 (for 2021)
- Copayments as low as just $1 for common generic drugs
- $0 deductibles for Tier 1 and Tier 2 drugs
- Coverage of thousands of generic and name brand drugs
- Easy online bill payment
- Access to thousands of pharmacy locations including CVS, Walmart and Sam’s Club
- Home delivery of your prescription medications
Mutual of Omaha features two main Part D plans: the Premier plan and the Plus plan.
Mutual of Omaha Rx Premier (PDP)
The Premier plan offers a lower monthly premium and a $0 deductible for Tier 1 and Tier 2 drugs.
Mutual of Omaha Rx Plus (PDP)
The Plus plan requires a higher monthly premium and is designed for those who take multiple prescriptions.
Mutual of Omaha sold its Medicare Advantage operations to Essence Healthcare in 2020 and no longer sells Medicare Advantage plans of its own. The company continues to serve its existing Medicare Advantage members in the markets of Cincinnati, Dallas-Fort Worth, Denver, El Paso and San Antonio.
A Medicare Advantage plan (also called Medicare Part C) takes the place of Original Medicare (Part A and B) coverage. These plans are required by law to provide all of the same basic coverage as Original Medicare and are then free to offer some benefits not found in either Part A or Part B. Some of the extra benefits commonly found in Medicare Advantage plans include coverage for dental, vision and hearing care, memberships to gyms and fitness programs and even prescription drug coverage.
While you still have to pay your Part B premium, many Medicare Advantage plans are available with $0 premiums and can help protect members with annual out-of-pocket limits.
Every year, Medicare evaluates plans based on a 5-star rating system. The Center for Medicare & Medicaid Services (CMS) rates all Medicare Advantage and Medicare Part D plans a 5-star scale for various quality measures.
For the 2021 plan year, Mutual of Omaha received 2.5 stars for its Medicare Part D plans. Three stars is considered average. Mutual of Omaha was not rated for its Medicare Advantage plans because the company is no longer selling plans to new beneficiaries.
Mutual of Omaha beneficiaries give the company a 4.5 out of 5 rating, according to customer reviews managed by a third party. Consumer Affairs also gives Mutual of Omaha an overall satisfaction rating of 4.1 out of 5 stars through reviews collected from Mutual of Omaha Medicare Supplement Insurance plans. These Mutual of Omaha customer reviews and ratings are not affiliated with the Medicare Star Ratings system.
Mutual of Omaha is accredited with the Better Business Bureau and maintains an A+ rating and has strong financial strength ratings from the leading credit rating agencies.
Mutual of Omaha Medicare Supplement Insurance plans are accepted by any health care provider who accepts Original Medicare. If your doctor takes Medicare Part A or B, they will take your Mutual of Omaha Medigap plan.
Mutual of Omaha Medicare Part D plans can be used at more than 65,000 pharmacy locations all over the U.S. including several major chains and grocery stores. You can find a participating pharmacy near by selecting “Find pharmacy” for any available Mutual of Omaha plans listed in your local area.
Does Mutual of Omaha Medicare Cover Vision and Dental?
Mutual of Omaha offers standalone dental insurance and dental savings plans that offer 100% coverage of preventive services and coverage of advanced care like crowns, root canals, fillings and dentures.
Members of Mutual of Omaha’s dental savings plans may be able to add optional vision savings for eye exams, eyeglasses and contact lenses, as well as hearing discounts for hearing aids, hearing exams and other services.
Mutual of Omaha offers Medicare Supplement Insurance plans in parts of all 50 states and the District of Columbia. Mutual of Omaha Part D plans are available in parts of most states.
To find out what plans are available where you live and to compare their costs, you can visit the Mutual of Omaha website or call the company to speak with a representative.
Mutual of Omaha Medicare plan members can use the Mutual of Omaha website to create an online account they can use to pay bills, review policies, update information and more.
You can call 800-205-8193 to speak with a Mutual of Omaha representative, or you can visit the Mutual of Omaha Medicare Solutions page for more information.