Mutual of Omaha Medicare Part D 2024 Review

Mutual of Omaha Medicare Part D plans aren’t great options in 2024. The company allows more flexibility than some competitors to choose plans with different arrangements of copays, coinsurance and deductibles without a major difference in premiums, but its star ratings for quality are poor^[0]

Unlike many Medicare Part D insurance companies, Mutual of Omaha doesn’t sell Medicare Advantage plans. The company specializes in insurance that complements your main health insurance, such as Medicare Part D plans, Medicare Supplement Insurance, life insurance and long-term care insurance.

About 183,000 Medicare beneficiaries have Mutual of Omaha Part D prescription drug plans as of September 2024^[0]

Here’s what you should know about Mutual of Omaha Medicare Part D prescription drug plans.

Mutual of Omaha Medicare prescription plan pros and cons

Medicare prescription drug plans from Mutual of Omaha have advantages and disadvantages.

Pros

• Flexibility with Premier and Plus plans: Mutual of Omaha’s Premier and Plus plans have nearly identical pricing, on average, but different arrangements of copays, coinsurance and deductibles, so shoppers can pick the better fit for their medications for about the same price.

Cons

• Low quality ratings: Mutual of Omaha’s Part D quality ratings from CMS are significantly lower than most competitors.

• Cost sharing: Mutual of Omaha has few $0-deductible and $0-copay options and requires coinsurance rather than copays for many drugs.

Mutual of Omaha Medicare Part D star ratings

Average Part D star rating, weighted by enrollment: 2 stars

Mutual of Omaha’s Medicare Part D plans get an average star rating of 2 stars out of 5 from the Centers for Medicare & Medicaid Services (CMS)^[0]

CMS rates Medicare Part D plans on 12 quality measures^[0]

These ratings use a 5-point scale, where 5 is the best and 1 is the worst. The agency bases its ratings on drug plans’ quality of service and customer experiences, and ratings are updated annually^[0]

» MORE: Medicare star ratings: How they can help you choose a plan

Mutual of Omaha Medicare Part D prescription drug plans

Here are Mutual of Omaha’s 2024 Medicare prescription drug plans^[0]

• Mutual of Omaha Rx Essential: According to Mutual of Omaha, this plan is “ideal for newly eligible Medicare clients, clients with low drug utilization, or clients on low-cost maintenance medications.”

• Mutual of Omaha Rx Premier: According to Mutual of Omaha, this plan “delivers affordable coverage and a $0 deductible for Tier 1-2 drugs.”

• Mutual of Omaha Rx Plus: According to Mutual of Omaha, this plan “covers a broad choice of prescriptions while offering low-cost generic drug choices.”

Medicare beneficiaries with Original Medicare (Part A and/or Part B) can purchase a Medicare Part D plan for prescription drug coverage. Part D plans are sold by private insurance companies. The costs and coverage can vary significantly, so it’s important to compare options.

Mutual of Omaha Medicare Part D cost

Mutual of Omaha Medicare Part D premiums and deductibles

Here are the 2024 premiums and deductibles for Mutual of Omaha’s stand-alone Medicare prescription drug plans^[0]

» If you have concerns about affording Medicare Part D, look into Medicare Extra Help.

Prices for Mutual of Omaha’s highest coverage plan, Rx Plus, have gone down since 2023, falling by about $9 per month. That’s not the case for the two less expensive plans. The mid-range Rx Premier plan is about $10 more per month than last year, making its monthly premium almost identical to the Rx Plus plan. The lower-cost Rx Essential plan is up by a little under $5 per month, on average.

Deductibles for the Essential and Plus plans are both up by $40, rising to hit the maximum that plans are allowed to charge in 2024. By contrast, the Premier plan’s deductible has fallen from $505 in 2023 to $349 in 2024.

$0-deductible options

Two Mutual of Omaha Medicare Part D plans have $0 deductibles for certain drugs^[0]

• Mutual of Omaha Rx Essential: $0 deductible for Tier 1 generic drugs. The deductible for all other drugs is $545.

• Mutual of Omaha Rx Premier: $0 deductible for Tier 1-2 drugs. The deductible for Tier 3-5 drugs is $349.

The Mutual of Omaha Rx Plus plan has a $545 deductible for all covered drugs.

$0-copay options

Mutual of Omaha’s Essential plan has a $0 copay for Tier 1 drugs from preferred pharmacies^[0]

Drugs on higher tiers can quickly get more expensive. As a result, it’s important to check where your medications and pharmacies fall on each plan’s formulary.

Coinsurance vs. copay requirements

You’ll want to check whether you’ll pay a copay or coinsurance for your medications. Copays are set dollar amounts, so it’s easy to see what you’ll pay. Coinsurance is a percentage of the price for your medications, so coinsurance requirements can be more unpredictable and more expensive.

Mutual of Omaha plans start requiring coinsurance rather than copays at different tiers depending on your plan^[0]

• Mutual of Omaha Rx Essential: Copays for Tiers 1-2; coinsurance for Tiers 3-5.

• Mutual of Omaha Rx Premier: Copays for Tiers 1-3; coinsurance for Tiers 4-5.

• Mutual of Omaha Rx Plus: Copays for Tiers 1-2; coinsurance for Tiers 3-5.

You can enter your medications and pharmacy information on Mutual of Omaha’s website to see which drugs are covered and review your estimated costs with different plan options.

» MORE: How much does Medicare Part D cost?

Mutual of Omaha Medicare Part D service area

Mutual of Omaha offers stand-alone Medicare prescription drug plans in Washington, D.C., and every state except New York^[0]

All three Mutual of Omaha plan options are available in every market the company serves.

» MORE: Read our review of Mutual of Omaha Medicare Supplement Insurance (Medigap)