Mutual of Omaha Medicare Supplement Insurance 2024 Review

Mutual of Omaha’s customers have few complaints about its Medigap policies, which are available in every state but Massachusetts.
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Written by Alex Rosenberg
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Edited by Holly Carey
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Mutual of Omaha Medigap

Mutual of Omaha

4.5

NerdWallet rating 

Mutual of Omaha's household discount of up to 12% is larger than most competitors' discounts, and members file few complaints about their policies.

M-F 9am-9pm ET, Sa 10am-9pm ET

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Plan types offered

A, F, G and N.


NAIC complaint rate

Far fewer than expected


Premium discounts available

Above average


Plan types offered

A, F, G and N.


NAIC complaint rate

Far fewer than expected


Premium discounts available

Above average


Pros

  • Complaint rates are well below the market average.
  • Available in every state but Massachusetts.
  • Up to a 12% discount for living with another adult.

Cons

  • Few choices for plan type.

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

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.

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Mutual of Omaha Medicare Supplement Insurance

4.5

NerdWallet rating 

Mutual of Omaha Medicare Supplement Insurance earned 4.5 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account pricing, coverage options, complaint data from the National Association of Insurance Commissioners and more.

Based on these ratings, Mutual of Omaha Medicare Supplement Insurance is one of the highest rated options on our list of the best Medicare Supplement Insurance companies.

Still deciding on the right carrier? Compare Medigap plans

Mutual of Omaha Medicare Supplement Insurance pros and cons

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

Pros

  • Members have few complaints: Members file complaints at rates well below the average for all Medigap insurance companies on the market.

  • Available almost everywhere: Mutual of Omaha sells Medicare Supplement Insurance in every state but Massachusetts.

  • Large household discount: A discount of up to 12% for living with another adult is larger than many other companies offer.

Cons

  • Plan types: For new Medicare beneficiaries, only Medigap plans A, G and N are available in most states.

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 estimates 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)

NerdWallet analysis of American Association for Medicare Supplement Insurance data. Best Costs Medigap 2024 – Plan G. Accessed Feb 9, 2024.
:

  • Los Angeles: More expensive than average.

  • Atlanta: Average cost.

  • Dallas: Less expensive than average.

The sections below show estimated pricing information from Mutual of Omaha for a 65-year-old female nonsmoker as filed with the Centers for Medicare & Medicaid Services

Centers for Medicare & Medicaid Services. Find a Medigap Policy That Works For You. Accessed Jan 11, 2024.
. (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 any company that filed prices. For example, Mutual of Omaha’s lowest price for Medigap Plan G in Los Angeles appears alongside the lowest price on Medicare.gov for all Plan G policies available in Los Angeles to an applicant with identical demographics.

Plan G

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

Mutual of Omaha price

Medicare.gov lowest price

Los Angeles

$172.

$137.

Atlanta

$153.

$119.

Dallas

$123.

$109.

Plan N

On average, Mutual of Omaha’s estimated prices for Medigap Plan N were about 18% higher than the least-expensive Plan N policy in the area.

Mutual of Omaha price

Medicare.gov lowest price

Los Angeles

$135.

$105.

Atlanta

$101.

$90.

Dallas

$93.

$82.

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

National Association of Insurance Commissioners. Company Complaint Index. Accessed Jan 11, 2024.
.

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

Mutual of Omaha’s spending on care

79.4% 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 79.4% of premiums on member benefits

. (The other 20.6% goes to overhead expenses like administrative costs, marketing, salaries and commissions.)

For comparison, the average for all companies is 80.4%. The minimum required by law for individual Medigap policies is 60%

Code of Federal Regulations. Title 42, Part 403, Section 215. Accessed Jan 11, 2024.
.

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.

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%

National Association of Insurance Commissioners. 2022 Medicare Supplement Loss Ratios. Accessed Feb 9, 2024.
.

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].

Compare Medicare Supplement Insurance companies

Get more information below about some of the major Medicare Supplement Insurance companies. These insurers offer Medigap plans in most states, but specifics may vary depending on your location.

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, and recently began selling Medicare Advantage plans co-branded with Wellcare. Other products include Mutual of Omaha life insurance, dental insurance, long-term care insurance, disability insurance and other financial services such as annuities, mortgages and investment services.

Find the right Medicare Supplement Insurance plan

Because Medigap plans are standardized, you can get precisely the same Medicare benefits from any company 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? Health insurance companies 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 between companies, so check to find the most competitive rates.

  • Will your premiums change over time? Most policies cost more as you age, but some companies offer policies that let you lock in a price when you sign up.

  • Are there extras? Medigap plans’ core benefits are standardized, but in certain cases, some companies include such perks as discount programs or gym memberships.

If you have additional questions about Medicare, visit Medicare.gov or call 800-MEDICARE (800-633-4227, TTY 877-486-2048).

Medicare Supplement Insurance ratings methodology

NerdWallet’s Medicare Supplement Insurance (Medigap) ratings are based on pricing, discounts, plan types offered, complaint data from the National Association of Insurance Commissioners, consumer experience, additional perks and benefits, and more. To calculate each health insurance company's rating, we adjusted the scores to a curved 5-point scale, rounded to the nearest half star.

NerdWallet reviewed 13 Medicare Supplement Insurance companies based on highest enrollment and greatest online search volume. At the national level, our scored reviews include companies covering about two-thirds of all Medigap beneficiaries. At the state level, our research includes at least one of the two largest Medigap insurance companies in 48 of the 50 states, plus Washington, D.C.

These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best coverage and rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines and full ratings methodology for Medicare Supplement Insurance.

Insurer complaints methodology

We examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, we calculated a similar index for each insurance company, weighted by market shares of each subsidiary. We score companies based on this index of how many complaints the company receives relative to its market share. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.

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