Omaha Insurance Company Medicare Supplement Review

Omaha Insurance Company Medicare Supplement


If you’ve started your research on Medicare Supplement, you are probably overwhelmed by all the companies and options to choose from. How do you which is the best plan and company for you? There are hundreds of companies offering Medicare Supplement coverage throughout the United States. Out of those companies to choose from you have 10 different plans you can choose from to buy.


How much time do you think it would take to accurately go through each company and make a confident decision about your health coverage? That is why we do what we do. In this article, we are going to review one of those companies–Omaha Insurance Company.






Company Info


Omaha Insurance Company is more familiar than you might expect. They are a subsidiary of one of the most highly recognized companies in the life and health insurance arena — Mutual of Omaha. Mutual of Omaha was begun in 1909 by a young med student concerned over the cost of hospitalization for many patients in Omaha, NE. Over the last 100+ years, this company has grown to become one of the most stable and successful health insurance brands in the industry.


In 2012, Mutual of Omaha established Omaha Insurance Company as one of their subsidiaries. Why would a successful insurance company create another company in an already crowded marketplace of competitors? Large successful companies like Mutual of Omaha will regularly create new affiliate companies. These new companies allow them to test out new products, new underwriting guidelines, and new pricing structures. The benefit to you is more competitive pricing and usually streamlined service and more favorable underwriting.


Omaha Insurance


Here’s a secret.


Even if you are currently insured with a Mutual of Omaha company, you can shop your coverage with an affiliate like Omaha Insurance Company. Often times, we find customers better pricing in newly created subsidiaries.


It doesn’t matter what time of year either. If you are current Medicare Supplement customer, you can shop, switch, and save any time of the year. Most customers we talk help believe there is a special time of year you can look at your Supplement coverage. Medicare Supplement coverages are not like group health policies you may have had with your employer. Those policies did lock you into specific time frames, but this isn’t the case for Supplement policies.




Financial Ratings


New affiliate companies like Omaha Insurance Company have on major benefit startups do not have. They are able to rely upon the financial strength of their parent company. Financial strength is a significant factor you should consider when shopping your Medicare Supplement coverage. Companies with strong financials have fewer customer complaints. They have the ability to pay claims quickly and even negotiate benefits that smaller companies can not.


Strong financials also give companies the ability to innovate product and customer service systems. Technology is one of the largest expenses most insurance companies face. By having the ability to invest in technology companies like Omaha Insurance Company can provide systems with high-quality customer experience.


There are multiple companies who analyze and rate financial companies. Each of these companies uses their own methodology to provide consumers and investors the ability to identify strong companies.


Omaha Insurance Company has some of the best financial rankings among its competitors. Here are a handful of those rankings:


AM Best: A+


S&P: A+


Moody’s: A1


Fitch Rating: AAA




Omaha Insurance Company currently sells three Medicare Supplement plans.


Medicare Supplement Plan A


Medicare Supplement Plan F


Medicare Supplement Plan G




If you are new to the world of Medicare Supplement, may not mean anything to you.  Let’s walk you through a brief primer on how supplement policies work, and what each plan covers. Traditional Medicare has two basic parts, Part A and Part B. Part A will cover hospitalization, and Part B covers doctors and specialists. Both parts have gaps, and costs you might not expect such as deductibles, co-pays, co-insurance, etc. The costs could reach into the thousands especially if you have any lengthy hospital stays.


Medical supplement policies cover those gaps and are often called Medigap policies. There are 10 different available Medigap policies. The plans are designated by letters, A, B, C, D, F, G, K, L, M, N.


Omaha insurance senior


Let’s walk through the plans that Omaha Insurance Company offers.




Medicare Supplement Plan A


This is the least expensive of the Medical Supplement policies, but it also has the least amount of coverage.


Here are the coverage details:


  • Medicare Part A Coinsurance & Hospital Costs
  • Medicare Part B Coinsurance and Copayment
  • Blood (First 3 Pints)
  • Part A Hospice Care Coinsurance or Copayment


All the coverages help with potentially significant costs. However, there are limitations to Plan A.


Plan A does not cover:


  • Skilled Nursing Facility Coinsurance
  • Medicare Part A Deductible
  • Medicare Part B Deductible
  • Medicare Part B Excess Charges
  • Foreign Travel Emergency (up to plan limits)


Medicare Part A deductible in 2021 is $1,484. The Part B Deductible is $203. The Part B excess charges are the real danger zone for hidden costs. When a provider participates in Medicare they agree to charge the Medicare-approved amount for the services. Providers who don’t participate in Medicare can bill you up to 15% more than the Medicare allowable amount.




Medicare Supplement Plan F


Plan F is the most comprehensive of the Medigap policies. It covers everything that Plan A covers plus it does cover:


  • Skilled Nursing Facility Coinsurance
  • Medicare Part A Deductible
  • Medicare Part B Deductible
  • Medicare Part B Excess Charges
  • Foreign Travel Emergency (up to plan limits)


Because it is so comprehensive, it is consistently the most popular plan we sell.


In 2020, the federal government is retiring Plan F. If you are a current Plan F subscriber, you will be grandfathered and allowed to keep your plan as long as you continue paying your premium.  If you were born after Jan 1st, 1955 you will not be eligible for the Plan F, unless you were on disability prior to Jan 1st, 2020.




Medicare Supplement Plan G


Plan G is becoming an increasingly more popular option among consumers. Once Plan F is retired it will become the most comprehensive plan available. Plan G will also have a high deductible option in 2020 to replace the one currently offered by Plan F.


It covers everything that Plan F covers except the Part B deductible. The Part B deductible is only $203, and many people will buy Plan G today because they save enough in premium to offset the deductible amount.




What are the Benefits of Omaha Insurance Company?


We really like Omaha Insurance Company. They are part of the Mutual of Omaha family, and we have always had a great experience with their products. All Mutual of Omaha companies continually ranks high in claims satisfaction and customer service surveys. They are committed to innovation in technology, and their customer portals are simple, clear, and easy-to-use.




Here are some other benefits you can expect from Omaha Insurance Company:


Immediate Coverage.  Once you are approved, there’s no waiting period for preexisting conditions.  Your insurance benefits will be paid the instant your policy is in force.


Guaranteed Renewability.  You cannot be cancelled. The Medigap policy through Omaha Insurance Company will be renewed as long as you pay the premiums on time and the information is correct on the application.


Inflation Protection. Medicare deductibles and coinsurance do increase on a regular basis. You do not need to reapply when these changes happen. Your Medigap policy will automatically increase as cost increases.


Benefits payments.  Normal payments will go to your provider. However, you may see a provider that does not participate in Medicare and accept Medicare cost assignment. If this happens, the benefits from Omaha Insurance Company will be paid to you directly to you.


Stable Rate increases.  Premiums change annually on your renewal date. Mutual of Omaha policies have always had very stable rate changes. Rarely do we see wild increases and swings in premium from year to year. Your rates do not target you directly but are based on your geographic region and group classifications. Please talk to us at renewal if you ever feel your rates are becoming too high.


Household Discounts.  Omaha Insurance Company provides a household discount of up to 12%.  If you and your spouse or household member live in the same residence and have a Mutual of Omaha Medicare supplement you may be eligible for the discount. You don’t have to necessarily both be on the plan to receive it!


Phone Omaha




We are proud to represent Omaha Insurance company. They are one of the most stable insurance companies we have. We currently partner with hundreds of Medicare Supplement companies throughout the company, and not just one or two option.


By representing so many insurance companies, we are able to find the best products for your insurance budget. Agencies that are constrained by one company can not do this. They can not shop and compare for their customer. They can only do what is best for the company they represent.


You may be a new Medicare subscriber or you may have been purchasing Medigap policies for many years. Regardless, we can help you find the best possible product designed around your needs.

Prefer to chat by phone? Give us a call at 1-888-559-0103.

Omaha Insurance Company

Rate stability
Competitive rates
Financial Stability
Coverage Area

Overall Rating
5 / 5 stars

Our TakeOmaha Insurance Company is a subsidiary of Mutual of Omaha. They have an A.M. Best and S&P Rating of A+ (Superior). With fantastic customer support, a high rating, and competitive rates, we recommend United World Life when available.

Chat with us about your options
Footer Logo
Join a daily Webinar!

Register to one of our daily webinars where we outline Medicare A and B and Medicare Supplements in 2021. We'll also show a comparison of Medicare Supplements vs Medicare Advantage plans.