Mutual of Omaha Medicare Supplement

Mutual of Omaha has been serving the Medicare Supplement market since 1966, just after Medicare began in 1965. That means you can be confident in choosing your plan with an experienced company. Mutual of Omaha is the 2nd largest Medicare Supplement carrier in the country. Mutual of Omaha is rated A+ Superior by A.M. Best Company. Mutual of Omaha has more than 1.3 million policy holders through 2018.

Medicare Supplement plans are sold under Mutual of Omaha, United of Omaha, United World, Omaha Insurance and Omaha Supplemental Insurance.

Mutual of Omaha Benefits

• No policy fee
• Anniversary rating with just one adjustment per year
• 12 month rate guarantee
• Stable rates
• Rates based on age at current birthday
• Members pick the day to pay their renewal premiums

Mutual of Omaha plans are popular because:

• 12% household discount in most states
• Competitive rates for Plan G
• High Deductible Plan F and High Deductible Plan G
• Value adds included with the policy(Amplifan hearing discount, EyeMed vision discount and Hospital Choice Savings program)

Mutual of Omaha Medicare Supplement Plan F

Medicare Supplement Plan F is offered in very state that Mutual of Omaha sells Medigap plans. More people are enrolled in Mutual of Omaha Plan F than any other Medigap plan offered by Mutual of Omaha.

Mutual of Omaha Plan F Rates

Below are sample Mutual of Omaha Medicare Supplement Plan F rates:

Mutual of Omaha Medicare Supplement Plan F Coverage:

Medigap Plan F pays 100% of the Part A and Part B deductibles. In 2021, The Part A Deductible amount is $1,484. The Part B Deductible amount is $203. Plan F pays for the Part A and Part B co-insurance amounts. It also pays for hospice care co-insurance, skilled nursing facility co-insurance and blood (first 3 pints). In addition, Plan F pays for 100% of the Part B Excess Charges. Doctors who do not accept Medicare assignment can overcharge the Medicare rate by a maximum of 15%. This is called an excess charge.

Mutual of Omaha Medicare Supplement Plan G

Medigap Plan G has become Mutual of Omaha’s most popular plan. Many Medicare eligibles are choosing Medicare Supplement Plan G. Plan G offers excellent coverage and attactive rates.

Mutual of Omaha Medicare Supplement Plan G Coverage:

Medigap Plan G pays for the Part B 20% co-insurance amounts after the Part B deductible has been met. Plan G does not pay for the Part B deductible. The Part B deductible amount is $203 in 2021. Plan G does pay for the Part A deductible.

Mutual of Omaha Plan G Rates

Below are sample Mutual of Omaha Medicare Supplement Plan G rates:

Mutual of Omaha Plan F vs Plan G

There is only one difference in coverage between Plan F and Plan G. Plan F pays for the Part B deductible while Plan G does not. In most cases, Plan G rates are considerably less the Plan F rates.

Mutual of Omaha Plan N

Plan N is Mutual of Omaha’s third most popular plan. Only Plan F and Plan G are more popular among Medigap buyers. Plan N rates are lower than either Plan F or Plan G. Plan N is unique because you always have to pay $20 for doctor office visits and $50 for hospital emergency room visits. These copayments have to be made even if you have met the Part B Deductible. Plan N may be a good choice for people who feel that they won’t visit their doctors too often.

Mutual of Omaha Medicare Supplement Rate Increase History

Medicare Supplement Insurance companies adjust their rates quite frequently. First of all, there are 3 different types of rates systems used.

Rating Methods:

1. Attained Age rating: Premiums differ based on your age at time of purchase. Rates increase as you get older. Attained Age is the most common rating method used.

The following is an example of Attained Age and how rates increase:

• 65 years old, the rate is $181.13/month
• 66 years old, the rate is $181.13/month
• 67 years old, the rate is $181.13/month
• 68 years old, the rate is $187.52/month
• 69 years old, the rate is $193.91/month

2. Issue Age rating: The premium is based on your age at time of purchase. However, rates won’t increase due to age. Other factors may cause rates to increase.
3. Community rated: Everyone on the Medigap plan pays the same rates regardless of age or health. This is the least common of the rating systems.

Other Reasons for Medigap Rate Increases

Medicare Supplement rates can also increase due to inflation and the rising cost of healthcare. Rate increases or decreases are by plan and it will affect everyone in that plan. For example, if Plan G rates increase by 5%, everyone in Plan G will have their rates increased by 5%.

I have many seniors ask me about Medicare Supplement rate increase history when shopping for a plan. I gladly give them the information but I emphasize that rate history is not a predictor of future rates. Many insurance companies are new to Medigap insurance and don’t have a rate history. These companies will often introduce plans with low rates to get people enrolled and then then increase rates considerably in a year or two. Also, a company like Mutual of Omaha will often introduce new plans with lower rates in a market under one of their other companies like United of Omaha or United World. Other things to consider are the insurance company’s financial stability, number of years selling Medigap plans and customer service.

Mutual of Omaha Medicare Supplement Reviews

Medicare Supplement plans are not federal plans and they are not reviewed like Medicare Advantage plans. Medicare Advantage plan ratings are based on a Star Rating system. The plans are rated on a 1-5 scale with one star representing poor performance and 5 stars representing excellent performance.

When comparing Medicare Supplement plans, an important factor is the financial stability of that insurance company. Mutual of Omaha has been selling Medigap plans for over 50 years. They have an AM Best Rating of A+. Only UnitedHealthcare has more Medicare Supplement enrollees than Mutual of Omaha.

Mutual of Omaha Medicare Supplement Insurance is offered in the following states:

Alaska

• Attained Age rating method is used in Alaska
• Plan F has averaged an 8.4% annual rate increase since 2016 in Alaska
• Plan G has averaged an 8.3% annual rate increase since 2018 in Alaska

Arizona

• Issue Age rating system is used
• The household discount in Arizona is 12%
• Mutual of Omaha plans in Arizona are effective 3/1/21, thus there is no rate history

Arkansas

• Mutual of Omaha Medigap plans in Arkansas are Community rated
• The household discount is 12%
• Mutual of Omaha Medigap plans in Arkansas are new, therefore, there is no rate history

California

• Besides a $0 application fee, there is a 12% household discount
• California uses Attained Age
• Medigap Plans A, G, High Deductible F, G, High Deductible G and also N are offered in California
• Mutual of Omaha Plan F has averaged a 5.3% rate increase the last 5 years in California
• Mutual of Omaha Plan G has averaged a 4.6% rate increase the last 5 years in California

District of Columbia

• Attained Age rating method is used in D.C.
• Mutual of Omaha Plan F has averaged a 3.6% annual rate increase since 2013 in the District of Columbia
• Mutual of Omaha Plan F has averaged a 2.4% annual rate increase since 2017 in the District of Columbia

Georgia

• In addition to a $0 application fee, there is also a 12% household discount
• Rating system used is Issue Age
• Georgia Mutual of Omaha Plan F rates increased 8% in April 2021
• Georgia Mutual of Omaha Plan G rates increased 4% in April 2021

Hawaii

• Attained Age rating method is used in Hawaii
• Hawaii Mutual of Omaha Plan F has averaged a 13.3% annual rate increase since 2013
• As of May 2021, Mutual of Omaha Plan G has not had a rate in increase in Hawaii

New Hampshire

• Issue Age rating method is used in New Hampshire
• The household discount is 12%
• Mutual of Omaha Plan F has averaged a 6.3% annual rate increase since 2016 in New Hampshire
• Mutual of Omaha Plan G has averaged a 5.5% annual rate increase since 2016 in New Hampshire

New York

• There is no application fee and also no household discount
• New York uses Community rated
• Mutual of Omaha Plan F has averaged a 3.7% rate increase the last 7 years in New York
• Mutual of Omaha Plan G has averaged a 6.7% rate increase the last 7 years in New York

Pennsylvania

• Besides a $0 application fee, there is a 12% household discount
• Attained Age rating method is used
• Mutual of Omaha Plan F has averaged a 10.7% rate increase the last 3 years in Pennsylvania
• Mutual of Omaha Plan G has averaged a 8.8% rate increase the last 3 years in Pennsylvania

Ohio

• There is no application fee but there is a 7% household discount
• Ohio uses Attained Age
• As of May 2021, Mutual of Omaha has not increased rates for Plan F or Plan G in Ohio

Oklahoma

• The household discount is 7%
• Attained Age rating method is used in Oklahoma
• As of May 2021, Mutual of Omaha has not increased Plan F or Plan G rates in Oklahoma

Rhode Island

• Attained Age rating method is used
• There is no household discount in Rhode Island
• Mutual of Omaha Plan F has averaged a 2.3% annual rate increase since 2014 in Rhode Island
• Mutual of Omaha Plan G has averaged a 2.8% annual rate increase since 2017 in Rhode Island

South Carolina

• Attained Age rating system is used
• There is a 12% household discount in South Carolina
• Mutual of Omaha Medigap plans in South Carolina are new, effective 5-1-21. Therefore, there is no rate history

Vermont

• Vermont does not have an application fee or a household discount
• Plans are Community rated
• Mutual of Omaha Plan F has averaged a 7.6% annual rate increase since 2012 in Vermont
• Mutual of Omaha Plan G has averaged a 7.3% annual rate increase since 2012 in Vermont

Virginia

• Besides having $0 application fee, there is also a 12% household discount
• Virginia uses Attained Age
• As of May, 2021, Mutual of Omaha has not increased rates for Plan F or Plan G in Virginia

Montana

• There is no application fee but there is a 12% household discount
• Attained Age rating system
• As of May, 2021, Mutual of Omaha has not increased rates for Plan F or Plan G in Montana

Wyoming

• Besides a $0 application fee, there is a 12% household discount
• Attained Age rating method is used in Wyoming
• Wyoming Mutual of Omaha Plan F rates increased 3% in 2020
• Wyoming Mutual of Omaha Plan G rates increased 3% in 2020

Other Medicare Supplement Insurance Companies:

For Mutual of Omaha quotes, please call us at: 954-384-8647 and talk to one of our licensed agents. You can also contact us via email at: quotes@medicaresupplementspecialists.com.