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Mutual of Omaha Medicare Supplement Plans

Researching Mutual of Omaha Medicare Supplement plans requires taking some time to learn about the company and the Medicare Supplement plans that they offer to fulfill your needs. Choosing your supplement plan provider is, ultimately, your decision; however, the information that we’re presenting in this article may provide you valuable insight into the choice you make in regards to Mutual of Omaha or another supplement company.
Mutual of Omaha Medicare Supplement plans

Summary of Mutual of Omaha Medicare Supplements

Mutual of Omaha opened up shop in Nebraska in 1909. After a few years of business, the company experienced enough success to expand into other states. Today, Mutual of Omaha is regarded as one of the nation’s premier Medicare Supplement providers. Mutual of Omaha Medicare Supplement plans have a history that dates the first plans back to the 1960s. Not only have they proven themselves in the insurance market as a whole, but they’ve also gained recognition as an innovative provider in the supplement plan market for decades.

Here are some quick facts about Mutual of Omaha Medicare Supplement plans 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?

Mutual of Omaha claims second place in the national Medicare Supplement market. They are mostly known for their competitive rates, offered under their main brand and through affiliated companies. They also offer a fast, electronic application process, boasting a 90-percent placement rate for supplements. They typically put approved policies in place in less than four days. With electronic applications, they often approve policies in about half an hour and immediately mail out membership cards.

We often recommend Mutual of Omaha Medicare Supplement Plans to customers shopping for plans. Here are just a few reasons to consider choosing them:

  • You 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.
  • The government standardizes Medicare supplement plans standardized, that way 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. The same study suggested that over 90 percent of people would recommend Medicare supplemental insurance to their friends and family who receive 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 variety of different options. These choices have all been standardized, covering variables for different co-pays, deductibles, and coinsurance policies that people who have a standard Medicare plan may need to pay. The elections you choose range from a more minimalistic plan to a program that is more robust and comprehensive in nature. Of course, you’ll want to compare these plans, the premiums, and the benefits to ensure the best policy for you. As with all insurance policies, more protection is more costly.

Since there are several different options, you’ll probably be better off if you can start exploring the most prevalent ones. Here, we’ve broken down the specifics of Mutual of Omaha Medicare Supplement Plan F, Mutual of Omaha Medicare Supplement Plan N, and Mutual of Omaha Medicare Supplement Plan G to help you compare more easily.

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 inclusive supplement plan. Medicare plan F claims about 40 percent of the supplement market and protects you against deductibles, coinsurance, and even cases that Medicare itself won’t cover.

Mutual of Omaha Medicare Supplement Plan G

You may benefit from Medicare Plan G because the only thing it leaves out is the modest Part B deductible payment. Since this plan is cheaper than Plan F, you may be able to save some money. In the worst case, you should come out about even.

Mutual of Omaha Medicare Supplement Plan N

With Medicare Plan N, you can pay a relatively low copay each time you go to the doctor or visit an emergency room. Plan N doesn’t cover the Part B deductible, and it also won’t pay for costs exceeding what Medicare allows, unlike Plan G and F. If you don’t expect to need many health services, the cheaper rates for Plan N can save you some money.

Which Medicare Supplement plan is better for you? If you’re a reasonably healthy Medicare beneficiary, choosing one of the more economical supplement plans could help you save in the long run. However, as we age, health can become quite variable. Make sure to choose a program that fulfills the requirements you can foresee yourself needing — generally, the more coverage, the better.

One thing to keep in mind is the Guaranteed Enrollment Periods that are available. During these times, you don’t have to answer health questions, and many people can save quite a bit on their plan. It could prove to be a great time to enroll in Plan F.

On the other hand, you won’t be taking much of a risk if you choose Plan G or N. You can save money on monthly payments, and they both provide fairly comprehensive protection against medical 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 the cost of an average doctor’s visit in the future. So far, the Part B deductible remains modest, so Medicare Plan G is often the best compromise for many individuals.


When to Enroll in a Mutual of Omaha Medicare Supplement Plan

For most people, the enrollment process starts the month they turn 65 and they opt-in for Medicare. This first plan lasts for six months, but it’s recommended that you have your Medicare supplement plan in place as soon as you begin with Medicare. Some individuals have insurance from a job, union, or the government, so they may delay their enrollment period until they lose it.

There are circumstances that you can use to trigger a Guaranteed Election Period. For example, you might lose your 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 a 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 in this situation, either.

You shouldn’t assume that they will discard your application just because of minor medical issues that are common as people age. You can apply for a Medicare supplement at any time of the year, so you don’t have to wait for Open Enrollment, as you do with Medicare Advantage. Keep in mind that you can’t have a supplement and Medicare Advantage at the same time. One benefit of Mutual of Omaha’s application is that it is designed to let you know if you’ll be accepted, meaning you don’t need to waste time applying for a plan for while you are ineligible.

Sample Rates for Mutual of Omaha Medicare Supplement Plans

Having a rough idea of average monthly prices will give you a better idea of what plan is right for you. Here are a few sample rates for a 65-year-old man who doesn’t use tobacco and lives in selected areas of the country. Your rate will vary based on your location and other factors.

These are the sample monthly Medicare Supplement plan prices:

  • Plan F: $140-$200
  • Plan G: $100-$164
  • Plan N: $80-$122

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 reflect your rates, but they should still give a generalized idea of the quotes you may experience, depending upon location and coverage.

You can see that the difference between Mutual of Omaha Medicare Plan F and Medicare Plan G can average about $40 a month. That discrepancy is close to $500 a year. As a point of reference, the Medicare Part B deductible was around $200, making it seem like Plan G could offer people an easy and accessible way to save money on your insurance needs.

Why Choose Mutual of Omaha Medicare Supplement Plans?

Almost every Medicare beneficiary chooses to enhance their plan with a supplemental insurance plan. As a Medicare beneficiary, you have many options when it comes to choosing your supplemental Medicare insurance.

Medigap plans offer stability and assurance that out-of-pocket costs will be controlled. Mutual of Omaha has established proven quality and experience, acting as a top-tier insurance company and provider of Medicare insurance. They’ve achieved a top rating from the Better Business Bureau for decades and rank as one of the United States most financially stable insurance companies. They offer fast approvals and quick access to membership materials. When you compare quotes, you should find that this company offers competitive prices for each of their plans.

Quotes for Mutual of Omaha Medicare Supplement Plans

Having guidance when choosing an insurance plan can help you be sure that you’re making the right decision for you. Call us to speak with a licensed agent on the phone. On the call, you can ask questions you have about different policies. Then one of our representatives will go with your through your preferences and your budget to help you obtain the best Medicare insurance at the more competitive rate.

Please note: We are not Mutual of Omaha. This text is a third-party general overview of Mutual of Omaha Medicare Supplement plans. Refer to your complete policy for full coverage details.

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