Mutual of Omaha® Medicare | 2020 Plan Review - Black Enterprise
Health and Wellness Lifestyle

Mutual Of Omaha Medicare Plans

Mutual of Omaha Medicare Plans
Senior Couple On Autumn Walk In Countryside Together

A Mutual of Omaha® Medicare plan is a great option if you’re looking for additional Medicare coverage to meet your healthcare needs. Founded in 1909, Mutual of Omaha was one of the first carriers to offer supplemental Medicare insurance to consumers. As of January 2019, A.M. Best Rating Services gave Mutual of Omaha an A+ (Superior) rating

Medicare Part A (hospital) and Part B (medical insurance), also known as Original Medicare, only covers about 80% of medical costs and doesn’t include a prescription drug plan. Without a more comprehensive health insurance plan through a private insurer like Mutual of Omaha, you could end up paying a lot of your healthcare costs out-of-pocket. 

Mutual of Omaha Supplement Insurance Plans

Although a Mutual of Omaha Medicare Advantage plan offers comprehensive benefits, you might prefer to remain enrolled in Original Medicare. If so, consider enrolling in a Mutual of Omaha Medicare Supplement insurance plan, also known as a Medigap plan, to work alongside Original Medicare. 

As one of the first insurance companies to offer Medicare Supplement or Medigap plans, Mutual of Omaha now offers a variety of plan options with benefits that include: 

  • Lower Out-of-Pocket Expenses. Medicare Supplement plans pay some of the costs that Original Medicare doesn’t, such as copays, coinsurance, and deductibles. 
  • No Referrals Needed to See a Specialist. You can see any doctor without a referral, including specialists, as long as the provider accepts Medicare. And, you don’t need to worry about finding in-network providers with Medicare Supplement.
  • Nationwide Coverage. You can use your plan anywhere Medicare is accepted, including outside your home state and outside the country. 
  • Guaranteed Renewable. Your plan can never be canceled, as long as you continue to pay your premiums. Also, you can’t be denied for pre-existing health conditions if you apply during open enrollment.

There are 10 standardized Medicare Supplement insurance plans, each with differing amounts of coverage:

Benefits Plan A Plan B Plan C Plan F Plan G Plan K Plan L Plan N
Part A Coinsurance and Copay 100% 100% 100% 100% 100% 100% 100% 100%
Part B Coinsurance and Copay 100% 100% 100% 100% 100% 100% 50% 75%
Part A Deductible   100% 100% 100% 100% 50% 75% 100%
Part B Deductible     100% 100%        
Blood (first three pints per year)  100% 100% 100% 100% 100% 50% 75% 100%
Part B Excess Charges     80% 80% 80%     80%

While the details of plan coverage will vary by state, Mutual of Omaha’s most popular Medicare Supplement plans include: Plan F (may no longer be offered after 2020), Plan G and Plan N.

Medicare Supplement Part G:

  • Offers lower monthly premiums than many other supplement plans
  • You pay the Part B deductible
  • Increasing in popularity as Plan F is phasing out

Medicare Supplement Part N:

  • Often the choice of individuals on a budget, with lower monthly premiums than Part G
  • You pay the Part B deductible
  • As a tradeoff for lower premiums, you are responsible for some copays ($20 for doctor visits and $50 for emergency room visits)

You can only purchase a Mutual of Omaha Medicare Supplement insurance plan if you have Original Medicare. You cannot combine it with a Medicare Advantage plan. 



Mutual of Omaha Medicare Advantage Plans

A Medicare Advantage plan, also called Medicare Part C provides an alternative to Original Medicare. Medicare Advantage plans replace Medicare Part A and Part B, including all of the same coverage as Original Medicare while offering additional benefits, too. 

Mutual of Omaha Medicare Advantage plans include the following all-in-one coverage and benefits:

  • Medicare Part D Prescription Drug Coverage. One feature that separates Mutual of Omaha’s Medicare Advantage plans from Original Medicare is that they include a Medicare Part D prescription drug plan. Many Medicare Advantage plans have coverage for prescription medication—generic and brand. With a Mutual of Omaha Medicare Advantage plan, you’ll have a low copay for medications, helping you save money.
  • Dental Coverage. Along with regular doctor visits, Mutual of Omaha’s Medicare Advantage plans include dental benefits. This coverage extends beyond basic coverage to protect your teeth and gums. 
  • Vision Coverage. You’ll receive coverage for routine eye examinations, contact lenses, and eyeglasses and no extra charge.
  • No Copays for Lab Tests. Copays and coinsurance for lab tests can be expensive. So you may delay scheduling a recommended test. When you sign up for Mutual of Omaha’s Medicare Advantage plan, you won’t pay a copay for most labs or tests.
  • Free Enrollment in the Silver Sneakers Fitness Program. Being physically active is an excellent way to maintain a healthy weight and heart. Through Mutual of Omaha’s Medicare Advantage plans, you’ll receive a free gym membership.
  • Medical Transportation Benefit. Mutual of Omaha’s Medicare Advantage plans include a transportation benefit to cover the cost of travel to doctor appointments. Depending on your diagnosis or condition, it may also cover non-emergency ambulance service to and from your doctor.
  • Over-the-Counter Allowance. Each quarter, Mutual of Omaha’s Medicare Advantage plans provide an allowance for over-the-counter health-related items. Covered items range from bandages to non-prescription medications.

Mutual of Omaha Medicare Part D Prescription Drug Plans

If you’re enrolled in Original Medicare and need prescription drug coverage, you can sign up for stand-alone Medicare Part D prescription drug coverage through Mutual of Omaha. 

Working alongside your Original Medicare and/or Medicare Supplement plan, Mutual of Omaha’s Part D plans offer the following benefits:

  • Reduced out-of-pocket costs for generic and brand prescription medications
  • Low monthly premiums.
  • Low copays on commonly prescribed drugs.
  • Low deductibles.
  • Preferred pricing at more than 24,000 pharmacies nationwide.

How to Enroll in a Mutual of Omaha Medicare Plan

Mutual of Omaha has provided financial solutions and insurance protection since 1909. Whether you’re looking for a Medicare Advantage plan or Medicare Supplement insurance, this company offers several options for reducing your out-of-pocket costs and increasing your available benefits. 

To be eligible for Medicare Advantage, and a Mutual of Omaha Medicare plan, you must be 65 and enrolled in Original Medicare. The initial open enrollment period for Medicare Advantage and Medicare Part D begins three months before your 65th birthday and ends three months after your 65th birthday. 

To enroll at a later time (or change plans), open enrollment occurs each year from October 15 to December 7. If you enroll during the annual open enrollment, your coverage doesn’t begin until January 1.

If you’re thinking about enrolling in a Mutual of Omaha Supplement insurance plan, you must first enroll in Original Medicare. Also, you must sign up for Medicare Supplement insurance during the six-month window starting the month you turn 65, to avoid medical underwriting.