Mutual of Omaha Medicare Supplement Plans


If you’re in the market for Medicare supplement plans, Mutual of Omaha is a provider you have probably noticed. This company has been working with clients for over a century. Of course, they also developed a lot of brand recognition through their Wild Kingdom TV program. Working with an established, customer-oriented, and financially sound insurance company can offer you many advantages.Mutual of Omaha Insurace Logo

In order to help you research Mutual of Omaha Medicare supplement plans in 2017, take some time to learn more about who they are and the most popular Medigap plans that the company offers. In the end, you could choose to buy your supplement from this company or another one; however, this information can help you make a good decision either way.

A Quick History and Summary of Mutual of Omaha

In 1909, Mutual of Omaha first began operations in Nebraska. Within a few years, the company expanded to other states. Today, Mutual of Omaha is regarded as a major, nationwide Medicare supplement provider. The company has offered Mutual of Omaha Medicare supplement plans since the 1960s. Not only have they proven themselves in the general insurance market, they’ve also been considered an innovator in the supplement market for decades.

The Wild Kingdom debuted in 1963. This TV program and affiliated projects are still remembered as a standard setter for wildlife educational and preservation programs. Of course, the TV show also helped make the insurance company’s brand a household word. Many people prefer to do business with insurance companies that value the same sorts of things that they do, and that’s probably why Wild Kingdom helped established Mutual of Omaha’s brand.

These are some quick facts about Mutual of Omaha today:

  • A.M. Best financial rating: A+ (Superior)
  • Began serving the Medicare market: 1966
  • Recently reported Medicare supplement Revenue: Over $2 billion

Why Consider Mutual of Omaha Medigap Plans in 2017?

Mutual of Omaha claims second place in the national Medicare supplement market. They are known for the competitive rates that they offer under their main brand and through affiliated companies. The company also offers fast electronic applications, boasts of a 90-percent placement rate for supplements, and says that they typically put approved policies in force in less than four days. With electronic applications, they very often approve policies in about half and hour and immediately mail out membership cards. Customers have been satisfied with both the price and services they received from Mutual of Omaha.

We often recommend Mutual of Omaha Medicare supplement plans in 2017, and these are a few more reasons:

  • You have a 30-day guarantee that you can get your money refunded if you change your mind.
  • You don’t have to worry about HMO or PPO networks and can visit any U.S. doctor or healthcare provider who accepts Medicare.
  • Some supplements even cover foreign travel and costs that exceed the Medicare-allowed amount.
  • You won’t have to see a primary doctor for a referral before you book an appointment with a specialist.
  • Since supplements are standardized by the government and quite stable, you don’t have to worry about learning about changes every year.

According to recent surveys, an overwhelming 94 percent of Medicare supplement owners were satisfied with their supplement coverage. In addition, over 90 percent would suggest supplemental insurance to their friends and family who received Medicare benefits.

Popular Mutual of Omaha Medicare Supplement Plans

If you’ve spent any time comparing Medigap plans, you have probably noticed that you can choose from a handful of different options. These have all been standardized, and they cover different copays, deductibles, and coinsurance that people who only have Original Medicare might need to pay. Your options range from fairly lean to quite robust choices. Of course, you’ll want to compare these plans with the premiums and the benefits that you are likely to need in mind. As with other kinds of insurance, more protection generally costs more money.

Since there are several different options, you’ll probably be better off if you can start exploring the most popular ones. This next section will help you compare 2017 Mutual of Omaha Medicare Supplement Plan F, Mutual of Omaha Medicare Supplement Plan N, and Mutual Medicare Supplement Plan G:

  • Mutual of Omaha Medicare Supplement Plan F: If you’d rather just pay your monthly premium and not worry about Medicare out-of-pocket expenses, you’ll probably be most satisfied with the most robust plan. Medicare plan F claims about 40 percent of the supplement market and protects you against deductibles, coinsurance, and even some things that Medicare won’t cover. Some highlights of Plan F include the fact that this plan pays for charges over the amount Medicare approves and it helps pay for urgent medical expenses in other countries.
  • Mutual Medicare Supplement Plan G: Some of you might benefit from Medicare Plan G because the only thing it leaves out is the modest Part B deductible payment. Since this plan is a little cheaper than Plan F, you might save money. In the worst case, you should come out about even.
  • Mutual of Omaha Medicare Supplement Plan N: With Medicare Plan N, you have to pay a fairly low copay each time you go to the doctor or visit an emergency room. Plan N doesn’t cover the Part B deductible. It also won’t pay for amounts that medical providers charge that exceed what Medicare allows, but Plan G and F do. If you don’t expect to need many health services, the cheaper rates for Plan N should save you money.

Which Medicare plan is better for you? If you’re a fairly healthy Medicare beneficiary, you might save money if you choose one of the cheaper options. You might be healthy today, but it’s hard to know what medical services you’ll need in a decade or two. It’s true that you can enjoy some Guaranteed Enrollment Periods when you don’t have to answer health questions. Since you can’t predict your future healthcare requirements, the safer option might be to pay more for Medicare Plan F in the first place.

On the other hand, you won’t take much of a risk if you choose either Plan G or N. You can save money on monthly payments, and they both provide very robust protection against Medicare expenses. The biggest drawback to Plan N might be the fact that it doesn’t cover excess charges. It’s hard to know if Medicare will keep up with average doctor’s charges in the future. So far, the Part B deductible has remained fairly modest, so Medicare Plan G might be the best compromise.

What to Know About Part D Drug Coverage With Mutual of Omaha Medicare Supplement Plans in 2017

Mutual of Omaha is one of the few Medicare supplement companies that don’t offer Part D. This isn’t a big drawback because many Medicare recipients do better when they shop around for their drug plan anyway. Insurance companies cover prescriptions differently, so the Part D plan that helps you the most might not be the one that a particular supplement provider offers.

It’s a good idea to make a list of your current prescriptions and learn how to how each insurer will cover them. You can’t rely on this kind of prescription insurance to stay the same from year to year. Also, your medication needs could change. The good news is that you are free to change from one Part D insurer to another every year during the Open Enrollment Period.

These are some other things to know about prescription insurance and Mutual of Omaha Medicare supplement plans:

  • If you don’t have Part D or another credible drug policy, you may have to pay the penalty when you do need to enroll in Part D.
  • Medigap plans are tailored to work with Original Medicare. Since Part A and B don’t pay for most prescriptions, supplements won’t either.

The Best Time to Enroll in a Mutual of Omaha Medicare Supplement Plan in 2017

Of course, you get a Guaranteed Election Period when you first enroll in Medicare Part A and B. For most people, this starts the month they turn 65 and opt into Medicare. It lasts for six months, but you will probably want to have your Medicare insurance in place as soon as you begin with Medicare. Some folks have credible insurance from a job, union, or the government, so they may delay this period until they lose that insurance.

There are also other circumstances that you can use to trigger a Guaranteed Election Period. For example, you might lose prior insurance because the insurer withdraws from your service area. In other cases, you might move away from your old plan’s service area. The beauty of these periods is that you can apply for your new or replacement Medicare supplement plan without having to answer health questions. The insurer can’t decline your application or decide to charge you more because of your health either.

Of course, supplements are designed to cover seniors. You shouldn’t assume that they will discard your application just because of minor medical issues that are common to older folks. You can apply for a supplement at any time of the year, so you don’t have to wait for Open Enrollment like you do with Medicare Advantage. Of course, you can’t have a supplement and Medicare Advantage at the same time. Mutual of Omaha’s application has been designed to let you know if you’ll be accepted by the instructions on the form, so you don’t need to waste time.

Sample Rates for 2017 Mutual of Omaha Medicare Supplement Plans

By now, you’re probably interested in learning how much these Mutual of Omaha Medicare supplement plans cost. It’s impossible to post accurate and timely monthly prices for everybody who reads this article. At the same time, you can view some sample prices for a 65-year-old man who doesn’t use tobacco and lives in selected areas of the country. We pulled our prices for Texas, Illinois, Michigan, Pennsylvania, California, and Arizona, and they were valid at publication time.

These are the sample monthly Medigap plan prices:

Texas:

  • Plan F: $190
  • Plan G: $142
  • Plan N: $119

Pennsylvania:

  • Plan F: $216
  • Plan G: $164
  • Plan N: $144

California:

  • Plan F: $231
  • Plan G: $202
  • Plan N: $158

Arizona:

  • Plan F: $189
  • Plan G: $155
  • Plan N: $118

Illinois:

  • Plan F: $172
  • Plan G: $135
  • Plan N: $102

Michigan:

  • Plan F: $217
  • Plan G: $163
  • Plan N: $132

Please note: Our website isn’t endorsed or supported by Mutual of Omaha. These Medicare supplement rates were accurate for a specific ZIP code at the time they were retrieved. It’s very likely that they won’t exactly reflect your rates, but they should still give you an idea of the way that quotes may vary by location and plan type for the same person.

You can see that the difference between Medicare Plan F and Medicare Plan G averages about $40 a month. That’s close to $500 a year, and the Part B deductible was only a little over $180 in 2017. It seems like Plan G would offer you an easy way to save money.

It might be possible for you to save about another $30 a month if you choose Plan N instead of Plan G, but you would be responsible for some copays and excess charges. If you don’t believe you will need many healthcare services, it’s still not a terribly risky bet. At this time, you might risk a $20 copay at the doctor’s office. You only have to pay the emergency room copay if you don’t get admitted to a hospital. Still, it’s a bit easier to argue in favor of Plan G.

Of course, the price ranges may be different in your city, for your age, or even because you signed up when you didn’t have a Guaranteed Enrollment Period. This section is meant to demonstrate how you might decide between your options and not to convince you that one plan or another will serve you better.

Why Choose Mutual of Omaha Medicare Supplement Plans in 2017?

As a Medicare beneficiary, you do have several choices you can make for your Medicare supplement insurance. You should know that almost every beneficiary chooses to enhance Original Medicare with another plan. While some may already be covered by a policy from work, a trade union, or even the government, most people decide between Medicare Advantage and Medigap.

Medigap plans offer stability and the assurance that out-of-pocket costs will be controlled. In addition, Mutual of Omaha has established a great track record as an insurance company and as a provide of Medicare insurance. They’ve held onto a top rating from the Better Business Bureau for decades and have also been ranked as a financially strong company. They offer fast approvals and quick access to membership materials. When you compare quotes, you should find that this company also offers competitive prices for their various plans.

Obtain Phone or Online Quotes for Mutual of Omaha Medicare Supplement Plans

If you’re interested in Medicare supplement insurance, why not take the next step? We can help you with Medicare Advantage, Part D, and Medigap plans. We can also provide you with price quotes for Mutual of Omaha Medicare supplement plans and other quality insurance companies. Very often, we may tell you that Mutual of Omaha is best; however, we might also have another suggestion for your unique situation. We’re certain that you can benefit from our guidance, and it won’t cost you a cent more over published prices you may find elsewhere.

To get started, you can obtain fast online quotes through our website. If you’d prefer, you are also welcome to call us to speak with a licensed agent on the phone. We’ll consider where you live, your preferences, and your budget to help you obtain the best Medicare insurance at the most competitive rates.