Mutual of Omaha
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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
Lead Writer
The bottom line: Mutual of Omaha is one of NerdWallet’s top Medicare Supplement Insurance picks for 2024. It stands out from competitors with a large household discount and low complaint rates. Mutual of Omaha offers only a few Medigap plan types, though, and some competitors have lower premiums. Jump to: Full Review
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Mutual of Omaha Medicare Supplement Insurance pros and cons
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.
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Our full review
Why trust NerdWallet
Mutual of Omaha Medicare Supplement Insurance rating
Mutual of Omaha Medigap 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, online quote availability, 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.
Mutual of Omaha Medicare Supplement Insurance plans
Here are the Medicare Supplement Insurance plan types 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.
💬 From our Nerds: Is Mutual of Omaha a good company for Medicare Supplement Insurance?
“Mutual of Omaha is one of the Medicare Supplement Insurance companies I’d recommend most in 2024. It scores 4.5 out of 5 stars on NerdWallet’s Medigap rubric. Stand-out features include very low customer complaint rates and strong premium discounts paired with generally reasonable pricing.
“Mutual of Omaha does trail competitors in a few respects. The company offers only a few Medigap plan types, for example, and some competitors offer more extra non-Medicare perks. And while Mutual of Omaha’s premiums aren’t sky-high, there are some cheaper options out there.”
Note: Since Medigap plan options can vary by location, it’s a good idea to do your research, compare multiple quotes and consider working with a licensed insurance agent for more personalized recommendations.
— Alex Rosenberg, lead writer covering Medicare
Cost for Mutual of Omaha Medigap plans
Mutual of Omaha’s premiums aren’t the lowest on the market, but they’re pretty reasonable — especially for Medigap Plan N. Mutual of Omaha’s premiums for Medigap Plan G were about 31% more expensive than the cheapest alternative, and premiums for Plan N were about 23% higher.
How we evaluate Medigap companies’ prices
Plan G
Mutual of Omaha price | Medicare.gov lowest price | |
|---|---|---|
Los Angeles | $187. | $148. |
Atlanta | $176. | $125. |
Dallas | $138. | $109. |
Plan N
Mutual of Omaha price | Medicare.gov lowest price | |
|---|---|---|
Los Angeles | $139. | $114. |
Atlanta | $113. | $95. |
Dallas | $105. | $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
46% 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 46% below the average for all Medigap plans, according to 2022 and 2023 data from the National Association of Insurance Commissioners.
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
Mutual of Omaha Medigap plans spend about 79.4% of premiums on member benefits, according to the most recent annual data. (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%.
Medicare Supplement Insurance companies must report data on the premiums they collect and how much they spend to provide benefits for members. The minimum required by law for individual Medigap policies is 60%.
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%.
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).
Best for Premium discounts
Mutual of Omaha
Mutual of Omaha's household discount of up to 12% is larger than most competitors' discounts, and members file few complaints about their policies.
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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.
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 15 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.
