Mutual of Omaha Medicare Supplement Plan G
Mutual of Omaha Medicare Supplement Plan G is one of ten Medicare Supplement insurance plans that help pay medical expenses left after Original Medicare (Medicare Part A and Part B) pays its portion.
Key takeaways:
- Except for the Medicare Part B deductible, it fills in gaps left by Original Medicare.
- The highest benefit level of all Medigap plans.
- Pays Medicare Part B excess charges.
- Includes foreign travel benefits (up to plan limits)
Mutual of Omaha Plan G: The Gold Standard of Medicare Supplement Coverage
Medicare Supplement Plan G is one of today’s most comprehensive and value-packed Medigap plans. It offers robust coverage, making it an excellent choice for those who want predictable out-of-pocket healthcare costs while enjoying the freedom to see any doctor or specialist who accepts Medicare.
What Does Plan G Cover?
Plan G is designed to fill in the gaps left by Original Medicare (Parts A and B), covering most out-of-pocket costs except for the Medicare Part B deductible. Here’s what it includes:
- Medicare Part A Coinsurance & Hospital Costs
Covers all hospital coinsurance expenses, ensuring you pay nothing for stays beyond Medicare’s limits (up to 365 additional days after Medicare benefits are exhausted).
- Medicare Part A Deductible
This plan covers the entire Part A deductible, which is a significant cost-saving benefit for hospital stays.
- Medicare Part A Hospice Care Coinsurance or Copayments
Ensures no additional out-of-pocket costs for hospice care.
- Skilled Nursing Facility Coinsurance
Helps pay for skilled nursing care after a hospital stay, providing extra financial security.
- Medicare Part B Coinsurance or Copayments
This covers the 20% coinsurance that Medicare Part B doesn’t pay for outpatient services, doctor visits, and preventive care.
- Medicare Part B Excess Charges
Unlike other Medigap plans, Plan G pays for excess charges from providers who do not accept Medicare assignments, preventing surprise bills.
- Foreign Travel Emergency Coverage
This policy offers up to 80% coverage for emergency medical care abroad (up to plan limits), making it a great option for travelers.
Why Choose Plan G?
- Comprehensive Coverage with No Surprise Bills
Plan G ensures that your out-of-pocket costs remain minimal outside the Medicare Part B deductible.
- No Network Restrictions
You can visit any doctor or specialist nationwide who accepts Medicare without referrals or pre-approvals.
- Guaranteed Renewable
As long as premiums are paid, your coverage remains intact regardless of health conditions.
- Great Alternative to Plan F
Since Plan F is no longer available to new Medicare enrollees, Plan G is the next best option, offering nearly identical benefits with often lower premiums.
Medigap Plan G is a top-tier choice for Medicare beneficiaries who want peace of mind, predictable healthcare costs, and access to care without financial worry. Its blend of affordability and extensive coverage makes it one of the most popular Medicare Supplement plans available today.
How Much Does Mutual of Omaha Plan G Cost?
Here’s an idea of what a 65-year-old nonsmoker might pay for Medicare Supplement insurance Plan G compared to other popular Medigap plans:
| Medigap Plan | Premium | Gender/Age | State |
|---|---|---|---|
| Plan G | $158.70 | Male/65 | TX |
| Plan F | $151.84 | Female/70 | OH |
| Plan N | $104.85 | Female/65 | PA |
| High G | $69.96 | Female/68 | FL |
| Plan A | $143.73 | Male/68 | GA |
- Attained age: Premiums increase yearly based on age.
- Community-rated: Everyone joining Medigap Plan G pays the same regardless of age.
- Issue age: Your premium is based on your age when you enroll.
Mutual of Omaha vs. Aetna, Cigna, and Humana
When choosing a Medicare Supplement (Medigap) plan, selecting a carrier with financial strength, competitive premiums, and excellent service is crucial.
Mutual of Omaha stands out against competitors like Aetna, Cigna, and Humana, particularly for its longstanding reputation, customer satisfaction, and lower premiums in many regions.
How Mutual of Omaha Stacks Up Against Aetna, Cigna, and Humana
- Founded in 1909, Mutual of Omaha has been providing Medicare Supplement insurance since 1966, when Medicare first started.
- Financially Strong: Consistently rated A+ by AM Best, ensuring stability and reliability.
- Customer Service Excellence: Known for fast claims processing and easy online management tools for policyholders.
- Nationwide Availability: Offers plans in most states, often at more competitive rates than Aetna, Cigna, and Humana.
Premium Comparison – Mutual of Omaha vs. Competitors (Plan G, Age 65, Non-Smoker)
(Sample Rates for a Few Key States – Monthly Premiums)
| State | Mutual of Omaha | Aetna | Cigna | Humana |
|---|---|---|---|---|
| Texas | $110 | $125 | $130 | $135 |
| Florida | $135 | $150 | $155 | $160 |
| Ohio | $105 | $120 | $125 | $130 |
| California | $130 | $140 | $145 | $155 |
- Aetna and Cigna offer solid Medigap options but often have higher premiums and less favorable rate stability compared to Mutual of Omaha.
- Humana’s Medigap plans tend to have higher rate increases and are often less competitive in certain states.
Mutual of Omaha consistently offers lower premiums than Aetna, Cigna, and Humana, particularly in competitive states.
Why Mutual of Omaha is the Better Choice
- Lower Premiums in Many Areas
As shown above, Mutual of Omaha often has the best rates for Plan G and other Medigap plans.
- Stable Rate Increases
Mutual of Omaha’s historical rate increases (typically 3-6% annually) are lower than Cigna and Humana, which tend to increase premiums at a higher rate.
- Strong Financial Backing
A+ rated and one of the most trusted names in Medicare Supplements.
- Fast & Reliable Claims Processing
Pays 98% of claims within 24 hours, making it one of the fastest in the industry.
- Household Discounts
Many states offer discounts of up to 12%, making premiums even more affordable.
If you’re looking for a reliable Medicare Supplement provider with affordable premiums, financial stability, and superior customer service, Mutual of Omaha is the best choice.
While Aetna, Cigna, and Humana all offer competitive plans, Mutual of Omaha often has lower premiums and more predictable rate increases, making it the preferred option for many Medicare beneficiaries.
Why Plan G is Better than Medicare Advantage
Medicare Advantage (Part C) plans can seem attractive because they often have low or zero premiums, but they come with trade-offs that make Plan G the superior option for many.
1. Freedom to Choose Any Doctor
- Plan G allows you to see any doctor or specialist nationwide who accepts Medicare, with no referrals required.
- Medicare Advantage plans use restricted networks (HMO/PPO), meaning you may have limited access to doctors and hospitals.
2. Predictable Costs
- With Plan G, the only out-of-pocket cost is the Part B deductible ($240 in 2024).
- Medicare Advantage plans have unpredictable costs, including copays, coinsurance, and high out-of-pocket maximums (which can be over $8,000 per year).
3. No Prior Authorization or Claim Denials
- Medicare Advantage plans often require prior authorization for many treatments and procedures, which can lead to delays or denials.
- Plan G has no prior authorization requirements—if Medicare covers a service, Plan G pays its share automatically.
4. Nationwide Coverage
- Plan G provides coverage nationwide.
- Medicare Advantage plans are regional, meaning coverage might be limited or unavailable when traveling outside your plan’s service area.
5. Stability and No Surprise Expenses
- Plan G has guaranteed renewability—your coverage cannot be canceled as long as you pay your premiums.
- Medicare Advantage plans can change benefits, provider networks, and costs yearly, leading to uncertainty.
Medicare Supplement Plan G is the best choice if you want comprehensive coverage, low out-of-pocket costs, and the freedom to choose any doctor nationwide.
Plan G is more cost-effective than Plan F. Compared to Plan N, Plan G eliminates excess charges and copays. Compared to Medicare Advantage, Plan G provides superior flexibility, predictable costs, and fewer restrictions, making it a safer and more reliable option for long-term healthcare planning.
Is Medicare Supplement Plan G the Best Medigap Option?
When comparing Medicare Supplement (Medigap) Plan G, Plan N, and Plan F, Plan G often emerges as the best value for many Medicare beneficiaries. Here’s why:
1. Plan G vs. Plan F
- Plan F covers everything that Medicare doesn’t pay, including the Part B deductible. However, Plan F is no longer available to new Medicare enrollees who became eligible after January 1, 2020.
- Plan G is identical to Plan F, except it does not cover the Medicare Part B deductible ($240 in 2024).
- Lower premiums: Since Plan G does not cover the Part B deductible, it generally has lower premiums than Plan F. Many beneficiaries find that the savings on premiums outweigh the cost of the Part B deductible, making Plan G the better deal.
2. Plan G vs. Plan N
- Plan N has more cost-sharing: With Plan N, you have to pay:
- Up to a $20 copay for doctor visits.
- Up to a $50 copay for emergency room visits (waived if admitted).
- Excess charges (if applicable): Some doctors charge 15% more than the Medicare-approved amount—this is called an “excess charge.” Plan N does not cover excess charges, whereas Plan G fully covers them.
- Plan G provides more comprehensive coverage, making it a better option for those who want predictable healthcare costs without worrying about copays or excess charges.
Conclusion
Mutual of Omaha Medicare Supplement Plan G is an ideal option for newcomers to Medicare. It offers comprehensive coverage, filling gaps left by Original Medicare except for the Part B deductible. Additionally, it covers Part B excess charges, providing peace of mind and better healthcare coverage.
Plan G rates vary based on age, gender, location, and tobacco use, so compare options before enrolling. With comprehensive benefits and low costs, Mutual of Omaha Medicare Supplement Plan G is an excellent choice for reliable coverage.
FAQs
- Does Plan G cover Medicare Part B Deductible?
- How much is Mutual of Omaha Plan G 2024?
- Is Mutual of Omaha a good Medicare Supplement plan?
