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Mutual of Omaha Medigap Plans Review

Fast claims payouts
12 percent household discount
Overall Rating:
4.0 of 5
See Plans
Guaranteed renewal
A+ customer satisfaction

For those of us who are 65 years and older, going on Medicare can be a sigh of relief. As we step away from work-related insurance coverage, Medicare steps in to take over. But Medicare only pays for 80 percent of your coverage. That's where Medigap providers like Mutual of Omaha come in, offering supplemental insurance to cover the gap between what Medicare does and doesn't pay.

Mutual of Omaha has been administering Medicare since its inception. Today, it's considered one of the top Medigap providers, covering nearly 10 percent of Medicare beneficiaries. It offers plans in all states (except Massachusetts) and is especially popular for speedy claims payments. But there are some cons, like higher premiums and limited plan options. To help you decide, we've broken down the company's most important plan benefits, downsides, prices, and how to navigate buying a policy.

The Pros and Cons of Mutual of Omaha

What We Like About Mutual of Omaha

  • Fast claims fulfillment
  • Guaranteed renewal
  • Twelve percent household discount
  • A+ credit and Better Business Bureau ratings for customer satisfaction
  • Customizable; they also sell Part D prescription plans and vision and dental
  • Available in most states

Things to Keep in Mind About Mutual of Omaha

  • Above-average premiums
  • Limited plan options
  • Frequent premium hikes

Overview of Mutual of Omaha’s Medigap Plans

Plans Benefits
A, F, High Deductible F*, G, High Deductible G Medicare Part A, Medicare Part B, and hospice coinsurance. Covers an extra 365 days after Medicare benefits are used up
F, High Deductible F*, G, High Deductible G, N Skilled nursing facility coinsurance
F, High Deductible F*, G, High Deductible G, N Medicare Part A deductible
F, High-Deductible F Medicare Part B deductible
F, High Deductible F*, G, High Deductible G, Medicare B excess charges
F, High Deductible F*, G, High Deductible G, N Foreign travel emergency
N After copay ($20 doctor visit / $50 emergency room), Medicare Parts A, B, and hospice coinsurance

* As of Jan. 1, 2020, Plan F and the High Deductible Plan F are only available to applicants who became eligible for Medicare prior to 2020.

Which Mutual of Omaha Medigap Plan Is Right for Me?

Because the company offers fewer plans than other companies we've reviewed, like Aetna, it might be a bit easier to choose a plan. However, if you're looking for more variety, you may want to consider other popular providers, like Humana, Aetna, or Blue Cross Blue Shield. We've outlined our recommendations for Mutual of Omaha's various Medigap plans so you can find the one that's right for your budget and lifestyle.

Seniors Who Need Basic, Comprehensive Coverage

Medigap Plan A (not to be confused with Medicare Part A) is the most basic Medigap insurance you can buy. All providers are required to offer it. While it's typically the least-expensive plan, Mutual of Omaha's price is higher than some other options. Plan A covers leftover costs from Medicare Parts A and B, plus additional coverage for 365 days after the Medicare limit.

Seniors Who Want Full Coverage Without High Deductibles or Out-of-Pocket Costs

Plans F and G offer the most coverage and are, therefore, generally the most expensive. They're nearly identical, except that Plan G does not cover Part B deductibles (a $203 annual expense). Neither requires copays or coinsurance. Plan G is especially popular because it covers all Medicare-approved gap expenses except for Part B. Many positive customer reviews say they had little to no costs once they'd paid their Part B deductible. Both plans offer comprehensive coverage for many seniors’ needs, including hospital coverage, hospice care, outpatient care, skilled nursing facility coverage (up to $186 per day for days 21-100), and help with copayments for routine appointments.

Buyer’s Tip: Mutual of Omaha offers up to a 12 percent household discount when two family members enroll together. This is an easy way to save on your plan!

Seniors on a Tight Budget Who Don't Have Frequent Doctor's Appointments

For seniors who don't need to visit the doctor frequently, Plan N is a less expensive option for nearly full coverage. However, you'll be charged a $20 copay for every office visit and a $50 copay for emergency room visits. Because Plan N doesn't include the Medicare Part B deductible, you'll also need to pay the $203 deductible (Plan N copayments don't count toward the annual Part B deductible.).

Seniors With Chronic Health Conditions, Frequent Appointments, or Those Needing Major Procedures

High Deductible Plans F and G offer the most comprehensive coverage for the lowest monthly premiums. But because you have to pay more than $2,000 out-of-pocket before benefits kick in, they're better for those who know they'll reach or exceed that deductible to take advantage of the benefits. These might be good options if you're managing a chronic illness, have frequent follow-up appointments with providers and specialists, or you anticipate undergoing surgery.

How Much Do Mutual of Omaha Medigap Plans Cost?

Monthly costs can vary by hundreds of dollars depending on your age, gender, location, and other health factors. The prices below are average estimates based on a few different scenarios. Exact rates will fluctuate higher or lower depending on your specific circumstances.

These numbers are individual; they do not reflect the additional household discount of up to 12 percent (applied if two family members enroll together).

Plan Monthly price estimate
A $110
F $200
F High Deductible ($2,000 minimum annual deductible) $73
G $185
G High Deductible ($2,000 minimum annual deductible) $45
N $135

How to Buy a Mutual of Omaha Medigap Policy

The good news is, you can apply for a Mutual of Omaha policy online. This isn't an option with some Medigap providers we've reviewed, like Colonial Penn, so we like the added convenience. With an account, you can get same-day approval and downloadable temporary ID cards.

You don't have to call anyone, but if you prefer to talk to someone over the phone, you can! Keep in mind that by requesting a quote over the phone, you're consenting to agent calls. You can call Mutual of Omaha toll-free (Monday-Friday, 8 a.m.-8 p.m. CT) or fill out a contact form to have an agent call you.

Here's how to buy a policy online:

  1. Create an account. You'll need to:
    • Enter a valid email address.
    • Create a unique username and password.
    • Select three security questions and answers.
    • Choose a security image.
    • Create a security phrase.
  2. Once you've created your account, you'll see the below screen. Click “Begin Application.”

    Start your Mutual of Omaha enrollment

    Start your Mutual of Omaha enrollment

  3. Answer whether you're applying for yourself or someone else.
  4. Enter your personal information.
  5. Enter your Medicare information. You will need:
    • Your Medicare card
    • Medicare Part A and B effective dates
    • Your Social Security number
    • List of medications (over-the-counter and prescription drugs)
    • Answers to the below questions:

      Answer the questions for Mutual of Omaha Medigap plans

      Answer the questions for Mutual of Omaha Medigap plans

  6. Answer the health questions. (You can skip these if you're in your open enrollment or guaranteed issue period.)
  7. Review your application by clicking “View.”
  8. Save your application.
  9. Confirm you've received, opened, read, and downloaded a copy by checking the red “Yes, I confirm” box shown below.

    Confirm to continue with Mutual of Omaha enrollment

    Confirm to continue with Mutual of Omaha enrollment

  10. Make your payment and billing selections. Your initial premium quote will be withdrawn once your application is approved and processed:

    Enter a payment method for Mutual of Omaha Medigap plans

    Enter a payment method for Mutual of Omaha Medigap plans

  11. Choose how you want to make payments (by mail or bank account) and your billing frequency (quarterly, semiannually, annually).
  12. Enter your city, state, and Social Security number.
  13. Review the Consent to Electronic Signatures and Delivery of Documents.
  14. Select “Yes, I agree.”
  15. Hit the “Submit” button!

When to Enroll for Mutual of Omaha Medigap Insurance

You can apply for Medigap insurance year-round. If you apply outside of your initial enrollment period, you could be denied coverage due to underwriting.1 If you have underlying conditions, you might also have to wait up to six months before your coverage goes into effect.

Initial Enrollment Period: This is the first time you can sign up for Medicare Parts A, B, D, and Medigap. For seniors, it's a seven-month window starting three calendar months before your 65th birthday month and ending three months after your birthday month. For example, June birthdays have an initial enrollment period of March 1 through September 31.

If you're applying within your initial enrollment period, coverage starts on your birthday month. If your birthday is on the first day of the month, coverage begins the month prior.

Final Thoughts on Mutual of Omaha

With high marks for customer service and fast and efficient claim payments, Mutual of Omaha is consistently in the top 10 providers for Medigap coverage. But its policies can be on the higher side, especially if you don't qualify for the 12 percent household discount. The company also only offers five of the 10 Medigap plan options, with some regions only offering two or three. Given its long and reputable history, Mutual of Omaha is a solid choice for older adults who want a comprehensive insurance “safety net” and can afford the deductibles, or for seniors who know they need frequent, skilled care and want to cap their out-of-pocket expenses.

Frequently Asked Questions About Mutual of Omaha

Citations
  1. Mutual of Omaha. (2021). Medicare Supplement Insurance Basics.

  2. Medicare.gov. (2021). Costs of Medigap policies.