Medicare

Mutual of Omaha Medicare Supplement Review

Mutual of Omaha Medicare Supplement Review

Editor's Rating

Low costs and moderate ratings make Mutual of Omaha a good value.

Good for

  • Cost-conscious people who want good rates
  • Seniors looking for cheap coverage with High-Deductible Plan G
  • Those who live with someone over age 60

Bad for

  • Those who want fitness perks or add-on benefits
  • Those seeking top-rated plans
  • Precise shoppers looking for Plan J, C or other less popular plans
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Editor's Rating

Low costs and moderate ratings make Mutual of Omaha a good value.

Good for

  • Cost-conscious people who want good rates
  • Seniors looking for cheap coverage with High-Deductible Plan G
  • Those who live with someone over age 60

Bad for

  • Those who want fitness perks or add-on benefits
  • Those seeking top-rated plans
  • Precise shoppers looking for Plan J, C or other less popular plans
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Mutual of Omaha offers Medicare Supplement (Medigap) plans in 49 states and Washington, D.C., (not available in Massachusetts). In many states, it's one of the cheapest providers of Medigap Plan G, which provides some of the most comprehensive coverage.

Across all Medigap plan letters, Mutual of Omaha's monthly rates average between $87 and $161 for a 65-year-old. Policyholders frequently complain about annual rate increases. However, our research shows that average rate increases are not as bad as with other providers.

Our thoughts: How Mutual of Omaha stands out for Medicare Supplement

Mutual of Omaha Medicare Supplement is a good value for most people because plans balance cost and quality. Prices are cheap to moderate. In many states, Mutual of Omaha has the cheapest rates for Medigap Plan G, averaging $150 per month for a 65-year-old female. Plus, Mutual of Omaha's midrange quality ratings mean the company outperforms many other cheap providers that have poor ratings and many complaints.

Mutual of Omaha isn't a good fit for those who are looking for a high-rated insurer. If you're interested in top-tier performance, consider one of our best-rated Medicare Supplement companies.

However, this middle-of-the-road approach of balancing cost and quality is the sweet spot for many Medicare enrollees. As a result, Mutual of Omaha is popular — it's the third-largest provider in the country, issuing 10% of all Medigap policies.

Plus, the company offers additional ways you can lower your costs. Those who qualify for the household discount can get 7% to 12% off of rates. Mutual of Omaha also offers High-Deductible Plan G, an affordable plan not offered by many providers.

However, the company's good prices come with a trade-off, and options are basic for add-on benefits and plan selections.

For example, rather than including fitness benefits in the plan, Mutual of Omaha requires you to pay an extra $25 per month to join the insurance company's fitness program. If auxiliary programs for health and wellness are important to you, consider choosing a Medigap plan from AARP/UnitedHealthcare. This alternative has a robust set of benefits and includes programs for fitness, dental, mental sharpness and more. But you should expect a slightly higher price because these plans cost about $28 more per month.

{"backgroundColor":"ice","content":"\u003C\/p\u003E\n\n\u003Ch2 id=\"recommendation\"\u003EOur thoughts: How Mutual of Omaha stands out for Medicare Supplement\u003C\/h2\u003E\n\n\u003Cp\u003EMutual of Omaha Medicare Supplement is a \u003Cstrong\u003Egood value for most people because plans balance cost and quality\u003C\/strong\u003E. Prices are cheap to moderate. In many states, Mutual of Omaha has the cheapest rates for Medigap Plan G, averaging $150 per month for a 65-year-old female. Plus, Mutual of Omaha's midrange quality ratings mean the company outperforms many other cheap providers that have poor ratings and many complaints.\u003C\/p\u003E\n\n\u003Cp\u003EMutual of Omaha isn't a good fit for those who are looking for a high-rated insurer. If you're interested in top-tier performance, consider one of our \u003Cspan\u003E\u003Ca class=\"ShortcodeLink--root ShortcodeLink--black\" title=\"Best Medicare Supplement Companies\" href=\"https:\/\/www.valuepenguin.com\/best-medicare-supplement-plans#companies\"\u003Ebest-rated Medicare Supplement companies\u003C\/a\u003E\u003C\/span\u003E.\u003C\/p\u003E\n\n\u003Cp\u003EHowever, this middle-of-the-road approach of balancing cost and quality is the sweet spot for many Medicare enrollees. As a result, \u003Cstrong\u003EMutual of Omaha is popular\u003C\/strong\u003E \u2014 it's the third-largest provider in the country, issuing 10% of all Medigap policies.\u003C\/p\u003E\n\n\u003Cp\u003EPlus, the company offers additional ways you can lower your costs. \u003Cstrong\u003EThose who qualify for the household discount can get 7% to 12% off of rates\u003C\/strong\u003E. Mutual of Omaha also offers High-Deductible Plan G, an affordable plan not offered by many providers.\u003C\/p\u003E\n\n\u003Cp\u003EHowever, the company's good prices come with a trade-off, and options are basic for add-on benefits and plan selections.\u003C\/p\u003E\n\n\u003Cp\u003EFor example, rather than including fitness benefits in the plan, Mutual of Omaha requires you to pay an extra $25 per month to join the insurance company's fitness program. If auxiliary programs for health and wellness are important to you, consider choosing a Medigap plan from \u003Cspan\u003E\u003Ca class=\"ShortcodeLink--root ShortcodeLink--black\" title=\"AARP Medicare Supplement Review: Compare Costs and Policies\" href=\"https:\/\/www.valuepenguin.com\/aarp-medicare-supplement-review\"\u003EAARP\/UnitedHealthcare\u003C\/a\u003E\u003C\/span\u003E. This alternative has a robust set of benefits and includes programs for fitness, dental, mental sharpness and more. But you should expect a slightly higher price because these plans cost about $28 more per month.\n","padding":"double"}

Coverage and plan features

Mutual of Omaha offers just a few of the 10 available Medigap plan letters. However, the company covers the most popular plans, and there's a full range of options to choose from, including both cheap plans and ones with the most comprehensive coverage.

As with all Medicare Supplement plans, it can help you reduce the amount you spend on health care by providing coverage on top of what's offered through Original Medicare (Parts A and B). For example, instead of paying 20% of the cost of a doctor visit with Part B coverage, a Medigap plan can reduce your costs to 0%-10% of the bill.

Medigap plans
Offered by Mutual of Omaha
Plan A
Yes
Plan B
No
Plan C
No
Plan D
No
Plan F
Yes
Plan G
Yes
High-Deductible Plan G
Yes
Plan K
No
Plan L
No
Plan M
No
Plan N
Yes

Similarities between Mutual of Omaha and other Medicare Supplement providers

All Medigap coverage is standardized by plan letter. That means that a Plan G that you get from Mutual of Omaha will have the same medical benefits as one from another company. This makes it easier to compare providers because coverage levels are consistent.

Also, there are no provider networks with Mutual of Omaha or any other company's Medigap plans. You'll have coverage at any doctor or facility that accepts Medicare.

Differences between Mutual of Omaha and other Medigap providers

With consistent medical coverage and provider access across all insurance companies, add-on benefits are an important way that providers differ. These programs are not insurance but instead offer additional wellness support beyond medical and hospital coverage.

Mutual of Omaha has minimal add-on programs for policyholders. But its policies usually include vision discounts through EyeMed, so you can get $50 eye exams and eyewear discounts. And its fitness program, called Mutually Well, costs an extra $25 per month, though plans don't include SilverSneakers or dental care discounts.

In comparison, several other providers include a larger set of auxiliary benefits.

AARP/UnitedHealthcare Medigap policyholders get discounts on vision, dental and hearing aids, as well as a 24/7 "nurseline." Humana Medigap includes discounts on vision care, prescription drugs, hearing aids and Lifeline medical alert, and the plans also include the popular SilverSneakers fitness program.

Costs

Mutual of Omaha has good overall prices for its Medigap plans. In states where age can be used to set rates, Mutual of Omaha's Plan G is the cheapest of all of the providers we compared. However, your costs may be different because rates vary widely based on state regulations, plan letter, ZIP code, gender, health conditions, smoking behaviors and other factors.

Mutual of Omaha costs:
  • States without age-based pricing: Average rates
  • States where age affects pricing: Very cheap rates
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Ways to lower your Mutual of Omaha rates:

  1. Household discount: The company offers a 7% to 12% household discount. The savings are available to those who reside with a spouse, domestic partner or other seniors over age 60. You can get the discount even if other household members don’t have Mutual of Omaha insurance.
  2. High-Deductible Plan G: These low-cost plans are not available from many providers, and plans can cost just $40 to $55 per month for a 65-year-old female. Plans have the same great coverage as a standard Part G plan, including covering Medicare Part B excess charges and the Part B deductible. However, the high-deductible plan won’t give you coverage until after your out-of-pocket medical expenses exceed $2,370.

    This type of coverage is best suited for those who want to protect themselves from high expenses if they become very ill, but who are comfortable only having Original Medicare for years when they need routine care.

Costs in states where age-based pricing is not allowed

In these states, Mutual of Omaha prices are about average compared to the competition. High-Deductible Plan G is the cheapest, costing $55 per month.

Mutual of Omaha Medigap rates:

  • Plan A: $187
  • Plan F: $224
  • Plan G: $190
  • High-Deductible Plan G: $55
  • Plan N: $150

Based on quotes for a female nonsmoker (Seattle, Little Rock, Ark., Portland, Maine)

Mutual of Omaha Medicare Supplement insurance is competitively priced. When compared to providers like Cigna, AARP/UnitedHealthcare and BlueCross BlueShield, Mutual of Omaha has midrange prices for plans A, G and N. If you’re eligible for Plan F, Mutual of Omaha is one of the cheapest providers.

Monthly cost of Mutual of Omaha Medigap plans

In states where age cannot be used to determine rates, residents can expect more stable pricing. At age 65, overall prices across the industry will be higher than what's available in other states, but the regulations protect against the shock of large annual price increases. Prices may still fluctuate based on inflation or industry changes.

Costs in states where age affects price

In these states, Mutual of Omaha offers some of the cheapest plans available and has slower price increases than other providers.

It’s common for Mutual of Omaha’s Medigap policyholders to complain about rising costs. But this issue exists across all Medigap providers in states where it's legal to use age to determine prices.

Mutual of Omaha plan
Age 65
Age 75
Age 85
Age 95
Plan A$111$131$203$260
Plan F-$169$256$328
Plan G$111$132$205$262
Plan N$85$105$162$207
High-Deductible Plan G$40$49$71$88

Sample monthly quotes for a female nonsmoker in Dallas, Chicago and Charlotte, N.C.

When compared to other providers, Mutual of Omaha is the cheapest company for Plan G across all age brackets. This consistently low pricing is a rare advantage. In contrast, we see BlueCross BlueShield offering good rates for those aged 65 and then becoming the most expensive insurer for those aged 85.

Medicare cost increases from Mutual of Omaha Medigap

Mutual of Omaha Medigap prices usually increase between 2% and 3% for each year of age. These increases add up, and those aged 85 may pay twice as much as a 65-year-old. Rate changes can vary, and those with other risk factors may see bigger increases.

Even though age-based price increases are unavoidable in these states, how quickly rates rise will affect your total lifetime costs. We recommend requesting multiple price quotes for different ages so you can see how your costs may change.

Costs in states with alternative plans

While Medicare Supplement plans follow national standards in most locations, Massachusetts, Minnesota and Wisconsin have different plan structures. Mutual of Omaha does not offer Medigap plans in Massachusetts, and the price quotes below are based on a 65-year-old female nonsmoker.

  • Minnesota (Basic and Extended Basic plans): $255-$459
  • Wisconsin (High-Deductible plan and Basic plan with extra coverage riders): $50-$167

Note that Minnesota's overall higher costs are because age-based price increases are not allowed in the state. Those in Wisconsin will have lower prices at age 65 and will have age-based cost increases.

Customer reviews and complaints

Mutual of Omaha’s Medicare Supplement plans have moderate ratings. According to the National Association of Insurance Commissioners (NAIC), the Medicare Supplement division of the company has 4% fewer complaints than is typical of an insurance company of its size.

This average rating may not seem noteworthy except that other providers that offer cheap rates often have a poor customer experience. For example, Bright HealthCare has seven times more complaints than is typical for an insurer of its size.

Also, Mutual of Omaha has received an A+ rating from the Better Business Bureau (BBB). Customer reviews on the site average only one out of five stars, but the overall rating shows that the insurer actively works to respond to issues. Customer feedback on the site focuses on the company’s other products including life insurance, loans and disability insurance. Comments about these other products include billing issues, a lengthy claims process and poor customer service interactions.

Notably, the company's Medicare Part D plans are rated just 2.5 stars on Medicare.gov. However, issues pertaining to these plans don't necessarily apply to Medigap plans. About half of the people who disenrolled in the prescription plans cited financial reasons, a likely result of the high costs of the prescription drug plans.

Additional policies

Mutual of Omaha also offers:

  • Dental insurance: Two insurance plans are available, with average costs between $27 and $53 per month.
  • Vision insurance: Can be added on to a dental plan.
  • Life insurance: Multiple plan options including those where a medical exam isn’t required.
  • Medicare Part D (prescription drugs): Two plans are available averaging $25 and $84 per month, but we don’t recommend these plans because of their low ratings. Instead, choose one of these best-rated Medicare Part D providers.

About Mutual of Omaha

Mutual of Omaha is an established company that started in 1909. It's most known for its life insurance policies, but its Medicare Supplement plans are popular. With 1.4 million Medigap policyholders, it has 10% of the market share. Medigap policies are sold under the brand names:

  • Mutual of Omaha Insurance Co.
  • United of Omaha Life Insurance Co.
  • Omaha Insurance Co.
  • United World Life Insurance Co.

Note that Mutual of Omaha no longer offers Medicare Advantage plans. In 2020, this small portion of the business with its 2,500 policies was sold to Essence Healthcare.

Mutual of Omaha is a financially strong company and is rated A+ (Superior) by AM Best. This means you can feel confident that the company will be able to pay claims.

Frequently asked questions

Is Mutual of Omaha a good Medicare Supplement provider?

Supplemental plans from Mutual of Omaha are usually a good value. In some states, they're the cheapest plans across all age brackets, and with moderate performance ratings, you can get a good deal on coverage.

Is Mutual of Omaha part of UnitedHealthcare?

No, Mutual of Omaha and UnitedHealthcare are separate companies. However, "United" is in the name of some Mutual of Omaha subsidiaries, which can create confusion.

Does Mutual of Omaha have a Medicare Advantage plan?

No, Mutual of Omaha sold the Medicare Advantage portion of its business in 2020. Medicare Advantage enrollment was less than 1% of the company's Medicare Supplement enrollment, and this portion of the company is now owned by Essence Healthcare.

Does Mutual of Omaha offer SilverSneakers?

No, Mutual of Omaha's fitness program (called Mutually Well) does not include SilverSneakers. If you want SilverSneakers included, consider a Humana Medicare Supplement plan.

Sources and methodology

This analysis of Mutual of Omaha Medigap plans compares price quotes obtained from Mutual of Omaha, BlueCross BlueShield, Cigna, Humana and AARP/UnitedHealthcare. Additional sources include:

  • Medicare.gov
  • Centers for Medicare & Medicaid Services (CMS)
  • The National Association of Insurance Commissioners (NAIC)

Note that Mutual of Omaha Medigap plans may not be available in all locations, plan details may vary and your ability to obtain coverage is based on Medicare's eligibility criteria.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

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