Mutual of Omaha Medicare Plans For 2022

About Mutual of Omaha

Mutual of Omaha is a reliable and stable insurance company that has been around since 1909 and was one of the first companies to offer Medigap plans in 1965.

As an older insurance company with many insurance lines and substantial reserves, Mutual of Omaha is an excellent choice for Medicare Supplement plans. While based in Omaha, Nebraska, Mutual of Omaha Medicare Supplement plans are available in most states; however, some plans may not be available in all areas.

The full scope of Medicare changes in 2022 has yet to be revealed, but below, you will find an up-to-date breakdown of the changes you can expect, including premium amounts from 2021.

Mutual of Omaha Medicare Plans Available

Mutual of Omaha offers Medicare Supplement Insurance to support those struggling to pay the associated Original Medicare costs.

Medicare standardizes the 10 Medicare Supplement insurance plans (A, B, C, D, F, G, K, L, M, and N), meaning you will receive the same benefits regardless of which insurance company you purchase a plan from. For example, Plan G from one insurer will have the same benefits as another.

Mutual of Omaha Medicare Supplement plans additionally offer:

  • Nationwide coverage allowing you to see any provider that accepts Medicare
  • Guaranteed renewable no matter what your health condition or medical usage
  • 30 day, Free Look Period. You can cancel for any reason during the first 30 days with a full refund
  • Household discounts up to 12%, which varies depending on which state you’re in
  • No application fees
  • Rapid policy issue
  • Electronic delivery of temporary ID cards
  • Peace of mind when you use an A-rated carrier from a major insurance company

Amongst the Medicare Supplement plans that Mutual of Omaha offer, Plan F, Plan G, and Plan N are the most popular.

As of January 1st, 2020, Medigap plans covering the Part B deductible (Plans C and F) are no longer available to those new to Medicare. 

If you currently have plans C or F or the high deductible version of Plan F, you can keep it. If you were eligible for Medicare before January 1st, 2020, but have not yet enrolled, you may buy one of these plans with the Part B deductible coverage.

Original Medicare

Medicare is a government-sponsored health insurance program that provides coverage for people age 65 and older, regardless of their income. It covers inpatient hospital stays, outpatient services like physician visits or lab tests. Original Medicare consists of two parts: Part A, which covers hospital visits and Part B, which covers doctors.

Medicare Part A

Medicare Part A is hospital insurance. It covers inpatient care at a variety of different facilities. In general, services covered under Medicare Part A include: 

  • Hospital care (inpatient)
  • Limited home health services
  • Care in a skilled nursing facility (SNF), provided that custodial care not be the only care required
  • Hospice care

Medicare Part B

Medicare Part B is medical insurance. It covers various types of outpatient services as well as some types of preventative care. In general, services covered under Medicare Part B include: 

  • Visits to a healthcare facility
  • Ambulance services
  • Part-time or temporary home health care
  • Rehabilitation services and physical therapy
  • Flu and hepatitis b shots
  • Cardiovascular, cancer, and diabetes screenings
  • Limited outpatient prescription drugs
  • Durable medical equipment
  • Clinical research
  • Mental health services (inpatient, outpatient, and partial hospitalization)
  • Second opinions before surgery

Mutual of Omaha Medicare Advantage (Part C)

Mutual of Omaha will discontinue its Medicare Advantage plans for the 2022 plan year. Current Medicare Advantage beneficiaries will continue to receive coverage until the end of 2022, at which point they will need to search for a new carrier.

Mutual of Omaha Medicare Part D – Drug Plans

Prescription drugs can be expensive, and for those who take multiple medications, the costs can quickly accumulate. Medicare Part D is an optional plan that provides a discount on prescription drug medication.

Mutual of Omaha offers two Part D plans: Rx Premier and Rx Plus. Rx Premier has no deductible on tier 1 and tier 2 drugs, but the drug list is narrow. Rx Plus has a higher premium and a $445 deductible but covers a more significant percentage of higher-tier drugs.

Mutual of Omaha Medicare Supplement Plans

There are currently 10 different types of Medigap plans. Mutual of Omaha offers six:

  • Plan A
  • Plan C
  • Plan D
  • Plan F
  • Plan G
  • Plan N 

Plan A 

Plan A is the most basic Medigap plan. Any insurance company selling Medigap plans is required to make Plan A available for purchase.

Plan A covers some of the copays and coinsurance associated with Medicare Part A. It also covers copays and coinsurance for Medicare Part B.

Plan F

Plan F is widely considered one of the most complete Medigap plans, covering almost every gap found in Original Medicare. Out-of-pocket expenses are covered for any hospital and outpatient medical service, meaning no deductibles or coinsurance need to be met.

In 2020, Plan F was discontinued due to new legislation prohibiting the sale of plans covering Medicare Part B deductible. Although Plan F is no longer available to new beneficiaries, it is still open to a closed pool of eligible Medicare beneficiaries before January 1st, 2022. If you’re already enrolled in a Plan F policy, you will not lose coverage from your plan.

Plan G

Plan G is rightly compared to Plan F; the two plans share almost the same coverage benefits, except Plan G does not cover Medicare Part B’s annual deductible. The similarly broad coverage makes Plan G a perfect alternative for those unable to enroll in Plan F.

Because the Part B annual deductible ($198 in 2020) is minimal and premiums are often much lower on Plan G, the plan can often be more cost-effective than Plan F.

Indeed, Plan G isn’t as comprehensive as Plan F, but it is a close second and has a lower monthly premium!

Plan N

Plan N is a popular choice for individuals with limited budgets who would still like Medigap’s flexibility.

The policy is very similar to Plan G but doesn’t cover Part B excess charges. Plan N enrollees are also responsible for copayments (up to $20 copay for doctor visits and up to $50 copay for ER visits). Because of the lower coverage, Plan N is available at a more affordable price.

When it comes to affordable plan options, Plan N is a plan that primarily suits money-conscious individuals.

Enrolling in Mutual of Omaha & Open Enrollment Period

You can apply for a Medicare Supplement insurance policy if you are:

  • A resident of a state where the policy is offered
  • Enrolled in Medicare Parts A and B
  • Age 65 or over or, in some states, under age 65 with a disability (plan offerings and eligibility vary by state)

In most cases, once you are enrolled in Medicare, you don’t have to re-enroll or renew your Medicare plan every year. If you want to change your Medicare policy, though, you can do that during the annual Medicare open enrollment period. This gives you the chance to change your policy or choose a different coverage option that meets your needs. 

Open enrollment for 2022 coverage will start November 1st, 2021. In most states, it will end on December 15th, 2021, but some states will have later deadlines.