Mutual of Omaha: Medicare Supplement Review 2024
Quick Look
Mutual of Omaha is a distinguished insurance provider renowned for offering Medicare Supplement plans at highly competitive prices. Their streamlined customer service is designed to simplify the complex process of selecting the most suitable coverage for each individual. As a result, Mutual of Omaha has earned a reputation for providing exemplary service to its customers.
Mutual Of Omaha Company Information
Mutual of Omaha extends its offering of Medicare Supplement (Medigap) policies to 49 states and Washington, DC, with the exception of Massachusetts. As a leading provider of Medigap Plan G in several states, customers have access to comprehensive coverage at an affordable rate.
Mutual of Omaha's Medigap plans have a monthly premium range of $87 to $161 for individuals who are 65 years of age. Although policyholder grievances are not uncommon regarding annual premium escalations, our research indicates that the average rate increases are comparatively less severe than those of other providers.
In 1909, Mutual of Omaha embarked on its journey as an eminent insurance provider. Today, the company has diversified its portfolio to include Medicare Supplement plans, popularly known as Medigap plans, which provide supplementary coverage for health needs that Original Medicare does not cover. These plans are offered across the United States, albeit with regional variations, and cater to a vast clientele of nearly 5.3 million customers availing of the company's insurance and financial services.
Medicare Supplement insurance, also called Medigap insurance, offers additional coverage for medical expenses not covered by Medicare Part A or Part B. Medigap insurance bridges the gaps in Medicare coverage, enabling seniors to plan their medical expenses with greater certainty. The company has further expanded its services to include Medicare Part D prescription drug coverage, a step taken towards augmenting its healthcare offerings in 2018
How Mutual Of Omaha Stands Out
The Mutual of Omaha Medicare Supplement plan offers a compelling proposition for individuals seeking a balance between cost and quality. With its highly competitive pricing, ranging from inexpensive to moderate, a plan is attractive for many. Additionally, in numerous states, it boasts the most affordable rates for Medigap Plan G, averaging between %95 to $150 per month for a 65-year-old female.
What's more, Mutual of Omaha's quality ratings signifies that the company surpasses several other low-cost providers with subpar ratings and receive numerous complaints. In short, Mutual of Omaha's Medicare Supplement plan presents a financially savvy and reliable solution for those seeking comprehensive coverage.
Mutual of Omaha, the third-largest Medigap policy provider nationwide, has gained immense popularity among beneficiaries. It issues 10% of all the policies, making it a trusted name in the industry. What sets the company apart is its focus on reducing costs for its clients.
Eligible beneficiaries can avail themselves of discounts ranging from 7% to 12% through its household discount program. Additionally, Mutual of Omaha offers an affordable High-Deductible Plan G, which other insurers do not commonly provide.
However, while the pricing of Mutual of Omaha's plans is competitive, it may come with limited options for add-on benefits and plan selections.
For instance, the company does not include fitness benefits in its plans. It requires an additional monthly fee of $25 for beneficiaries to enroll in its Mutually Well fitness program. This trade-off may not appeal to individuals seeking more comprehensive coverage options.
Upon enrollment in a Mutual of Omaha Medicare Supplement plan, a suite of services and discounts becomes available:
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Mutually Well: The Mutually Well initiative offers various benefits for individuals seeking to prioritize their wellness goals. With discounts of up to 30% on a range of healthy living products, an affordable and comprehensive fitness program, and a complimentary 30-day walking regimen featuring personalized nutrition, fitness, and wellness planning, the program is designed to support holistic wellness for all participants. This initiative is a testament to our commitment to empowering individuals to take charge of their well-being and strive toward optimal health.
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Vision Discounts through EyeMed Vision Care
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Hearing Discounts
Mutual of Omaha: Medicare Supplement Options
The Medigap program comprises ten Standard plans designated A, B, C, D, F, G, K, L, M, and N, providing standardized benefits and copay reductions. Plans C and F are exclusively available to exist Medicare beneficiaries who became eligible before 2020.
For new beneficiaries, enrollment in a Medigap plan is unrestricted during their six-month open enrollment period. Insurers may assess eligibility based on medical history if enrollment occurs outside of this timeframe.
Except for Plan F and C, you are responsible for paying Medicare Part B deductible for medical services and diagnostics. Medigap policies may reduce or eliminate your Part A hospital deductible. Certain plans may cover excess charges beyond Medicare-approved amounts and restrict your out-of-pocket expenses.
Mutual Of Omaha: Medigap Pros and Cons
Pros
Cons
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Excellent Customer Service
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Stable Rates
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Mutual Company - not stock driven
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Affordable premiums
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12% Household discount in many states
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Limited Plan Options
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Gym membership is an additional cost
How Much does a Mutual of Omaha Medicare Supplement Cost?
Mutual Of Omaha Medicare Supplement plans Range from $75 to $250 on average.
Other insurance products from Mutual of Omaha
Mutual of Omaha presents an array of diverse insurance options to cater to the distinct needs of our valued customers.
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Dental Insurance
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Vision Insurance
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Life Insurance
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Medicare Part D prescription drug plans
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Long-Term Care Insurance