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Mutual of Omaha

A review of Mutual of Omaha’s medicare supplement plans. 

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Mutual of Omaha Group

Mutual of Omaha LogoMutual of Omaha has offered insurance products since 1909. Its roots begin back in Omaha, Nebraska, where their headquarters and customer service center are still based today. By 1958, Mutual of Omaha surpassed the $1 billion mark in terms of benefits paid out to its policyholders. Today it has a stellar financial rating. A.M.’s Best rates it an A+. Should you choose Mutual of Omaha, or one of its subsidiaries, such as United World Life Insurance Company or Omaha Supplemental Insurance Company, for your medicare supplement plan, you will have peace of mind, knowing that this company is stable and has a long history of serving its customers.
Features of Mutual of Omaha
No Application Fee
Offers Household discount of 12% (varies by state)
May apply and get coverage same-day
Nationwide Coverage (any doctor that accepts Medicare)
Cannot be cancelled due to developing health conditions

Unique Value

Mutual of Omaha offers a ‘household discount’ of 12% (varies by state; see below). Mutual of Omaha’s household discount is unique from other insurance companies in that if you simply live with another person over the age of 60, they give you a discount on your premiums. Most insurance companies require that both you and your spouse have the same insurance company to receive a discount.

Medicare Supplement Plan F & Plan G

Medicare supplement Plan F will no longer be available to new Medicare beneficiaries in the year 2020. This means that if you are turning age 65 or becoming eligible for Medicare during or after the year 2020, you will have the ability to purchase other robust plans, such as Plan G. The only difference between benefits for Plan F and Plan G are that on Plan G, the insurance company will not cover your Part B deductible. In other words, you are paying a high premium for a small benefit.


Many times the annualized premium of Plan F is around $500 more than Plan G. The difference in benefits from Plan F to Plan G is that Plan G does not cover the 2021 Part B deductible of $233.

Prescription Drug Plans

In 2019, Mutual of Omaha rolled out, for the first time, prescription drug plans. These PDP plans offer you the ability to have your Medicare Supplement and standalone prescription plan at the same company.

They’ve made it easy for you to find your preferred pharmacy with their easy-to-use pharmacy search tool.

It is best practice to have your agent complete an annual analysis of your drugs to find out which prescription plan will best fit your needs. You can choose to use a different insurance company for both your medigap and prescription drug needs. Unlike home and auto insurance, there is never a bundled discount for pairing these coverages with the same company.

Do You Qualify For the Household Discount?

While most insurance carriers require that a couple applying for a household discount must each hold a medigap policy with that company, Mutual of Omaha/United World has different rules that are more favorable to most couples. The chart below explains:

Household Discount Rules
– Individuals who reside with a spouse (including civil union/domestic partner) of any age; or
– Individuals who for the past year have resided with at least one, but no more than three, other adults who are age 60 or older.

Household discounts are not available in AK, CT, DC, FL, HI, ID, MN, NY, RI or VT.

Real-life examples of how you might qualify for this household discount:

  • A husband retires before his wife, he takes Mutual of Omaha’s medigap while she remains on her employer group medical.
  • A person living with their elderly parent can qualify because the parent is over the age of 60.
  • A woman holds a Mutual of Omaha medigap policy while her partner carriers a medicare advantage plan.
  • A couple both carry a Mutual of Omaha medigap policy.
Frequently Asked Questions
Does my preferred hospital accept Part A of Medicare?
Hospitals must adhere to certain safety and health regulations to participate with Medicare. The Medicare.gov website contains a useful Hospital Locator Tool, which allows you to enter your city, state, or zip code to find a list of hospitals in your area that accept Medicare.
Will I experience out-of-pocket costs with Part A?
Under Original Medicare coverage, you are responsible for your Part A deductible and coinsurance, even if your hospital accepts Medicare assignment, there is no cap on your out-of-pocket expenses. If you’re enrolled into a Medicare Supplement plan, these costs may be covered by the insurance carrier completely or partially. It is important to note that if you have only original medicare, there is no limit on out-of-pocket costs.
Does my doctor accept Part B?

To find a doctor that accepts Medicare payments, you may want to visit the Centers for Medicare and Medicaid Services’ Physician Compare. You can search by entering a health care professional’s last name or group practice name, a medical specialty, a medical condition, a body part, or an organ system. This tool will provide you with a list of professionals or group practices in the specialty and geographic area you specify, along with detailed profiles, maps, and driving directions.

What is the Medicare Part B late-enrollment penalty?
If a person does not enroll in Medicare Part B when first eligible, and they do not have other credible health coverageGenerally referred as health insurance just as good or better than Medicare., they will incur a late-enrollment penalty if they later choose to enroll in Medicare Part B. This is also true if someone has Medicare Part B, but then drops their Part B coverage, and then later decides to sign up again for coverage. Remember that, if a person does not enroll in Medicare Part A and/or Medicare Part B when they were first eligible, and they were not eligible for a Special Enrollment Period, they can only elect Medicare Part A or Medicare Part B during the General Enrollment Period that starts January 1st and continues through March 31 of each year. The Medicare Part B late-enrollment penalty is 10% of the current Medicare Part B premium (for instance, the 2019 Medicare Part B premium is $134) for every 12-month period that the person delayed enrolling in Medicare Part B after they were first eligible or dropped Part B and were without Medicare Part B coverage when they were eligible.

Speak with a Medicare Expert

Our team can help you get onto Part B and ensure you are not missing any forms.