Mutual of Omaha Medicare Supplement Insurance Review

Mutual of Omaha is an insurance and financial services company. It offers Medicare Supplement Insurance, or Medigap, in 49 states and Washington, D.C.

Unlike many Medigap companies, Mutual of Omaha doesn’t sell Medicare Advantage or other health insurance plans. The company specializes in insurance to complement your main health insurance, such as Medicare Supplement Insurance, life insurance and long-term care insurance.

Mutual of Omaha offers a larger household discount than most companies, and its members have few complaints about their plans.

Here’s what you should know about Mutual of Omaha Medicare Supplement Insurance.

Mutual of Omaha Medicare Supplement Insurance pros and cons

Mutual of Omaha’s Medigap offerings have advantages and disadvantages.

Mutual of Omaha Medicare Supplement Insurance plans

Here are the Medicare Supplement Insurance plans Mutual of Omaha offers for any Medicare member where the company operates:

• Medigap Plan A — the basic benefits included in every Medigap plan without any extras.

• Medigap Plan N — a plan with lower premiums but higher copays.

• Medigap Plan G — the highest-coverage option available to new Medicare members. Available as either a standard plan or a high-deductible option.

Mutual of Omaha also offers Medigap Plan F and the high-deductible version of Plan F for beneficiaries who were eligible to enroll in Medicare prior to 2020. Newer Medicare members can’t buy these plans from any insurance company.

Plans A, G, N and F are the “primary plans available across all states,” according to a representative from Mutual of Omaha, but the company also offers other plan types in some states. Enter your ZIP code on the Mutual of Omaha website to see which plans are available in your area.

In addition, Mutual of Omaha offers plans in Minnesota and Wisconsin according to each state's Medigap plan standards, which differ from the standardization system used in the majority of the country.

Cost for Mutual of Omaha Medigap plans

The following price quotes were obtained for three metropolitan areas representing above-average, average and below-average costs for the most popular Medicare Supplement Insurance plans (Plan G and Plan N)^[0]

• Los Angeles: More expensive than average.

• Atlanta: Average cost.

• Dallas: Less expensive than average.

The sections below show pricing information from Mutual of Omaha for a 65-year-old female nonsmoker and reflect base pricing with optional discounts removed or factored out whenever the option was available. (Note: Some Medigap prices may be higher for men.)

For comparison, each table also includes the price for the least-expensive option to buy the same plan from other companies, based on information from Medicare.gov. For example, Mutual of Omaha’s price for Medigap Plan A in Los Angeles appears alongside the lowest price on Medicare.gov for all Plan A policies available in Los Angeles to an applicant with identical demographics.

Plan A

On average, Mutual of Omaha’s quoted prices for Medigap Plan A were about 29% higher than the least-expensive Plan A policy in the area.

Plan G

Standard Plan G

On average, Mutual of Omaha’s quoted prices for Medigap Plan G were about 29% higher than the least-expensive Plan G policy in the area.

High-deductible Plan G

Mutual of Omaha’s quoted prices for the high-deductible version of Plan G were about 52% higher than the least-expensive high-deductible Plan G policy in the area.

» MORE: Are high-deductible Medigap plans worth it?

Plan N

On average, Mutual of Omaha’s quoted prices for Medigap Plan N were about 22% higher than the least-expensive Plan N policy in the area.

Discounts

Here are some discounts Mutual of Omaha offers to qualifying Medicare Supplement Insurance applicants:

• Household: Some applicants can receive up to a 12% discount if they live with a spouse, domestic partner or other adults. In some states, this discount requires that the other household member already has or is applying for a Mutual of Omaha Medigap policy.

• Dental policy: Some members that purchase Mutual of Omaha dental insurance within 30 days of starting a Medicare Supplement Insurance policy can qualify for up to a 15% discount on premiums for the dental plan.

Available discounts may vary according to factors such as your location, household status and how you apply for a policy.

Mutual of Omaha member complaints

44% fewer complaints than average

Members file fewer complaints about Mutual of Omaha’s Medicare Supplement Insurance plans than other insurance companies. Mutual of Omaha and its subsidiaries that sell Medigap plans had a complaint rate about 44% below the average for all Medigap plans, according to 2022 data from the National Association of Insurance Commissioners^[0]

NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.

Mutual of Omaha’s spending on care

76.4% for member benefits

Medicare Supplement Insurance companies must report data on the premiums they collect and how much they spend to provide benefits for members.

Based on the most recent year of data, Mutual of Omaha Medicare Supplement Insurance plans spend about 76.4% of premiums on member benefits^[0]

For comparison, the average for all companies is 77.3%. The minimum required by law for individual Medigap policies is 60%^[0]

Additional benefits

The Medicare benefits of each Medigap plan are standardized, but companies can include other perks with that coverage. Here are some of the extras available with some Mutual of Omaha policies:

• Wellness discount program: Mutual of Omaha’s Mutually Well program offers some members low-cost gym memberships, discounts on wellness products and services, and an app to plan and track fitness activities.

• Hearing aids and eyewear: Some policies offer discounts on hearing aids, vision exams and eyewear from certain providers.

Third-party ratings

Mutual of Omaha Medicare Supplement Insurance service area

Mutual of Omaha offers Medicare Supplement Insurance plans in Washington, D.C., and every state except Massachusetts.

Mutual of Omaha covers more than 1.4 million Medigap beneficiaries, and its share of the total Medicare Supplement Insurance market is about 9.2%^[0]

Mutual of Omaha Medigap customer service

Here’s how Mutual of Omaha members can contact customer service:

• Call customer service at 800-775-6000 from 7 a.m. to 5:30 p.m. Central time on Monday through Thursday, or from 7 a.m. to 5 p.m. Central time on Friday.

• Email Mutual of Omaha for non-urgent matters through an email contact form or at [email protected].

• Contact Mutual of Omaha through Facebook.

• Contact Mutual of Omaha through Twitter.

Compare alternatives

Here's how Medicare Supplement Insurance companies compare with Mutual of Omaha.

About Mutual of Omaha

Mutual of Omaha, headquartered in Omaha, Nebraska, was founded in 1909 as the Mutual Benefit Health & Accident Association. The company changed its name to Mutual of Omaha in 1950. Mutual of Omaha sells Medicare Supplement Insurance and Medicare Part D plans, dental insurance, life insurance and other insurance products such as long-term care and disability insurance. It also offers other financial services such as annuities, mortgages and investment services. In 2022, Mutual of Omaha had $12.5 billion in revenue^[0]

Find the right Medicare Supplement Insurance plan

Because Medigap plans are standardized, you can get precisely the same Medicare benefits from any insurer offering the plan. So when you shop, keep these considerations in mind to find the best policy to fit your needs:

• Is your preferred plan available? Insurers don’t always sell every plan, so check who sells the plan you want to buy in your area.

• What are the premiums? Prices for the same plan can vary quite a bit between insurers, so check to find the most competitive rates.

• Will your premiums change over time? Will the insurer charge more as you age, or can you lock in a price when you sign up?

• Are there extras? Medigap plans’ core benefits are standardized, but some insurers include extras like discount programs or gym memberships.