Omaha Insurance Company Medicare Supplement: A Beginner’s Guide to Medicare Supplement

Mutual of Omaha Medicare Supplement Company Review

Pros and Cons :

  • They offer a very competitive High-deductible Plan G in Connecticut, Delaware, and Idaho.
  • Mutual of Omaha offers start-of-the-art technology and all of its subsidiaries benefit from top-of-the-line customer service.

  • Omaha Insurance Company is a subsidiary of Mutual of Omaha that has had some rather steep rate increases in recent years. You might be exploring your options as an existing policyholder to find a more stable carrier in such states as Alabama, Arkansas, Delaware, Connecticut, Illinois, Kansas, Louisiana, Missouri, New Mexico, New Jersey, and Utah.
  • Mutual of Omaha has had alarming rate adjustment increases on Plans F and G as they shift their focus to Plan N and High-deductible Plan G.

Overall Rating: 4.25/5
Rating Stability: 3/5
Financial Stability: 5/5
Coverage Area: 5/5
Competitive Rates: 4/5

Our Take

Omaha Insurance Company is a subsidiary of Mutual of Omaha. They have an A.M. Best and S&P Rating of A+ (Superior) as of 2023. There are a few states offering their high-deductible Plan G worth learning more about.

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 know 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.

Omaha Insurance Company: A Mutual of Omaha Subsidiary

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. They have come out with a new subsidiary they have underwritten called Omaha Supplemental Insurance Company.

In 2012, Mutual of Omaha established Omaha Insurance Company as one of its 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 advantage 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. Oftentimes, we find customers better pricing in newly created subsidiaries.

It doesn’t matter what time of year, either. If you are a current Medicare Supplement customer, you can shop, switch, and save any time of the year. Most customers we talk to 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.


Why do you need Medicare Supplement?

Because only about 80% of your coverage is covered by Original Medicare, a Medicare supplement is a total game-winner.

A Medicare Supplement plan can be exactly what you need if you require medical attention while traveling, would rather consult with your doctor from the comfort of your home, or simply want the freedom to see any specialist or general practitioner who takes Medicare.

It is more crucial than ever to have a versatile, dependable health plan with the features you value as you get ready for the next stage of your trip. These additional plans compare medicare benefits and coverage to give you wholesome security.

Copays, deductibles, and coinsurance are all covered by Medicare Supplement, often known as Medigap. It accomplishes all of this with a consistent, dependable monthly fee that you can plan for. It also cannot be changed. As long as you pay your premium on time, it will be renewed.


Set Appointment

This appointment is meant to alleviate any concerns and there is no-cost or obligation to make a change.


What states are Omaha Insurance Company or Omaha Supplemental Insurance most competitive?

These states include Idaho, Nebraska, Utah, New Mexico, Kansas, Louisana, Alabama, Minnesota (extended basic), Wisconsin (basic plan + riders), Illinois, North Carolina, Connecticut, New Jersey, and Delaware.

Exciting new rates have just been released in Nebraska and Wisconsin! Contact us to find out more.

If you live in Texas, New Jersey, Missouri, South Dakota, or Maryland and are an existing member, we believe you should contact us to discuss your rate and options at 1-888-559-0103.


Financial Ratings

New affiliate companies like Omaha Insurance Company have major benefits 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 for your Medicare Supplement coverage. Companies with strong financials have fewer customer complaints. They have the ability to pay claims quickly and even negotiate perks that smaller companies can not.

Strong financials also give companies the ability to innovate products and customer service systems, thus earning a fair medicare supplement review. 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 that analyze and rate financial companies. Each of these companies uses its 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


Top 3 Medicare Supplement Insurance Plans by Omaha Insurance

Medicare Supplement Plan A

Medicare Supplement Plan F

Medicare Supplement Plan G

If you are new to the world of Medicare Supplements, it may not mean anything to you.  Let’s walk you through a brief primer on how supplement insurance plans 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 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. Omaha Medicare Supplement Insurance frames are designated by letters, A, B, C, D, F, G, K, L, M, and N.


Omaha insurance senior


Let’s walk through the Medigap plans that Omaha Insurance Company offers. Compare medicare plans and make an informed decision.


Medicare Supplement Plan A

This is the least expensive of the Medical Supplement policies, but it also has the least amount of Medigap coverage of all Omaha’s Medicare Supplements.

Here are the medicare 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 2024 is $1,632. The Part B Deductible is $240. 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 was 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 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 $240, and many people will buy Plan G today because they save enough in premiums 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 aspects you can expect to advantage 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 canceled. The huge advantage of a Medigap policy through Omaha Insurance Company is that it will be renewed as long as you pay the premiums on time and the information is correct on the application.


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.

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 necessarily have to both be on the plan to receive it!


Set Appointment

This appointment is meant to alleviate any concerns and there is no-cost or obligation to make a change.


Difference Between Medigap Plans and Medicare Advantage Plans

Private insurance providers like Omaha Insurance Company in Omaha and across the state provide Medicare Advantage plans that combine Original Medicare features with extras like prescription medication coverage.

Depending on the plan, Medicare Advantage provider networks may be more constrained. This kind of plan allows its members to pay a premium, copayments, coinsurance, and deductibles. In contrast, Medicare Supplement plans help to address the coverage gaps in Original Medicare, such as coinsurance, copayment, and deductible costs, and are accepted by any medical provider who accepts Medicare.

Despite the fact that Medicare Supplement plans do not cover prescription drugs, you can safeguard your savings from the high cost of medications by inquiring about the possibility of adding one of the stand-alone prescription drug policies to your Medicare Supplement coverage.

To take care of all of your medical requirements in one place, you can also add a hearing insurance plan, vision plan, or dental plan.

In case you forgot, Original Medicare can be supplemented by a Medicare Supplement plan, sometimes known as Medigap. An option to Original Medicare that frequently includes prescription drug coverage is a Medicare Advantage plan.

The decision is yours.


Additional Tools by MUTUAL OF OMAHA

A framework is one thing; however, another is putting it to use. Mutual of Omaha, the parent company of Omaha Insurance, provides you with the resources you need to succeed in securing the best insurance partner for life. Access to medical support underwriters directly.

  • Mobile quotes for medical and dental services.
  • Voice, electronic signature, and quick-issue e-Apps options.
  • Online case monitoring to assist with business management.
  • Dedicated sales support staff working for your success.
  • Medicare Supplement e-applications with automated underwriting receive decisions within two minutes after submission.


Realistically speaking, More than just a terrific plan at a fair price is what clients desire.

For policyholders, the parent company has added some fantastic enhancements so they may receive more for their money.

  1. Mutually Well fitness and wellness program
  2. Amplifon hearing health program
  3. EyeMed vision discount
  4. Discounts on Aloe Care Health in-home medical alert system and 24/7 monitoring support
  5. Additionally, after-purchase discounts on other practical goods, services, retail, and restaurants.
  6. Pre-sale discussions about Mutually Well, Amplifon, or EyeMed are permitted with state restrictions. Discounts from AloeCare and Access Perks are not liable to be discussed before the sale.


Participate in one or more of their discount programs created with your needs in mind to reduce the cost of health care.

Perhaps you would prefer to DIY and derive a quote and self-enroll with Mutual of Omaha. You can do that here: Mutual of Omaha Quote and Self Enrollment Tool

However, we recommend still reaching out to us to guide you through the quote and application process, as it can be confusing to navigate on your own at 1-888-559-0103.


What Determines the Pricing of Supplement Policies?

Rates for Medicare Supplement insurance is initially set by private insurance providers. These businesses can “rate” or price their Medicare Supplement Insurance products in one of three ways.

The various pricing structures for Medicare Supplement plans include:

Local rate pricing

Age-attained pricing

Issue-age pricing

The sort of price you receive depends on the insurance provider you select and may not be accessible in all states.


What Distinguishes Omaha Insurance Company from the Competition?

Omaha Insurance Company has drafted supplement plans that balance cost and quality represent a fair value. The value of these plans appeals to the crowd at large.

Costs range from low to moderate.

In several areas, Omaha Insurance Company offers Medigap Plan G at the most affordable prices, with monthly premiums for a 65-year-old female averaging $150.

Additionally, its parent company, Mutual of Omaha, outperforms several other low-cost providers who have bad ratings and a lot of complaints thanks to their moderate quality rating.

Many Medicare members find that this middle-of-the-road strategy of stabilizing cost and quality is the best option. Being the third-largest provider in the US and issuing 10% of all Medigap policies, Mutual of Omaha is well-liked.

Additionally, the business provides you with additional cost-cutting options. Those who are eligible for the household discount will have their rates reduced by 7% to 12%. In addition, Mutual of Omaha provides the High-Deductible Plan G, a cost-effective option that few insurers give. The company’s competitive costs come at a cost, and the possibilities for add-on benefits and plan choices are limited.

To put it simply,

In 49 states and Washington, D.C., Mutual of Omaha offers Medicare Supplement (Medigap) policies (not available in Massachusetts). It’s one of the most affordable suppliers of Medigap Plan G, which offers complete coverage in numerous states.

The monthly premiums from Mutual of Omaha for a 65-year-old range from $87 to $161 for all Medigap plan letters. Annual rate increases are a frequent source of complaints from policyholders. Our analysis reveals that average rate increases are less severe than those offered by other suppliers in the insurance market.


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 options.

By representing so many insurance companies, we are able to find the best life insurance products for your insurance budget. Agencies that are constrained by one company can not do this. They can not shop and compare with 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 in your area designed around your needs and guide you through the process of enrollment.

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