Mutual of Omaha Medicare Supplement and Part D Review

Alex Enabnit
Licensed Insurance Agent and Medicare Expert Writer
December 06, 2019

Preferred Pharmacies

  • CVS
  • Sam's Club
  • Target (CVS)
  • Walmart

Started in 1909, Mutual of Omaha is a privately-owned insurance company that sells life and disability insurance, but that’s not all it offers. Mutual of Omaha has been selling Medicare Supplemental (Medigap) insurance since 1966 and just added Part D prescription drug plans (PDPs) in 2019. Since the PDPs are a new addition for Mutual of Omaha, they do not yet have an average Medicare Star Rating for these plans.

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Which Medigap plans does Mutual of Omaha sell?

Mutual of Omaha currently sells eight Medicare Supplement plans (and one high deductible plan) in 45 states plus Washington, DC, although the availability varies by state.1

When you search for Mutual of Omaha Medigap plans, you'll most commonly see Plan F, high deductible Plan F, Plan G, and Plan N. You’ll also see Plan A in any state where the company sells Medigap policies, because any company selling Medigap insurance must, by law, offer Plan A in that state as well.

Depending on where you live, you may also be able to purchase a Mutual of Omaha Plan B, Plan C, Plan D, and Plan N, although they are not as common as the above five plans.

Mutual of Omaha Medigap plans and availability

Mutual of Omaha
Plans and availability

Medigap plans

  • Plan A
  • Plan B
  • Plan C
  • Plan D
  • Plan F
  • High deductible Plan F
  • Plan G
  • Plan M
  • Plan N
  • State availability

    45 states plus DC

    Excluded states

  • Massachusetts
  • Minnesota
  • Wisconsin
  • New Hampshire
  • New York
  • Plans based on MutualofOmaha.com. Actual plans may vary. Data effective 12/6/19

    What Part D plans does Mutual of Omaha sell?

    In the fall of 2018, Mutual of Omaha announced they would begin selling two Part D PDPs, starting in 2019. It offers both PDPs in 49 states and Washington, DC.2 On top of this, Mutual of Omaha has 67,000 pharmacies in its network, including big name brands like CVS and Walmart.3

    Mutual of Omaha sells two plans: Mutual of Omaha Rx Value and Mutual of Omaha Rx Plus. The Value plan generally has lower premiums, but a smaller formulary. The Plus plan has a broader formulary, but likely higher premiums.

    Who might want a Mutual of Omaha Part D plan?

    • People already buying Mutual of Omaha Medigap plans: 85% of those who buy a Medicare Supplement plan also purchase a Part D plan, so some may find it convenient to use the same provider for both plans.4
    • Those looking for easy accessibility: Mutual of Omaha sells Part D plans in every state (besides New York) plus DC.5
    Mutual of Omaha Rx Value (PDP) 2020
    Mutual of Omaha Rx Plus (PDP) 2020

    Location

    Omaha, NE 68124

    Omaha, NE 68124

    Deductible

    $435 ($0 for Tiers 1 & 2)

    $435

    Tier 1 (preferred generics)

    $0

    $0

    Tier 2 (generic drugs)

    $2

    $5

    Tier 3 (preferred brand drugs)

    $25

    $42

    Tier 4 (non-preferred brand drugs)

    41%

    48%

    Tier 5 (specialty drugs)

    25%

    25%

    Sample plan #

    S7126-057

    S7126-024

    Sample plans based on mutualofomaha.com and are for illustration purposes only. Actual plans may vary. All drug prices assume the prescription is filled at a preferred retail pharmacy for a 30-day supply. Data effective 12/06/19.


    Input your drugs into Mutual of Omaha’s drug formulary to find out which tiers they fall into.


    Mutual of Omaha Rx Value

    The Mutual of Omaha Rx Value plan is, as the name suggests, a “value” plan. The plan offers Part D coverage with fewer prescriptions on the formulary for generally lower premiums than the Plus plan. The Value plan is unique from the Plus plan in that it gives immediate coverage for Tiers 1 and 2 (meaning there’s no deductible for the first two tiers).

    For these reasons, the Value plan could be a good choice for beneficiaries who rely mostly on generics, depending on where their medications fall in Mutual of Omaha’s formulary.

    Mutual of Omaha Rx Plus

    Another well-named plan, the Mutual of Omaha Rx Plus plan gives more coverage than the Value plan because the formulary includes more medications. Unfortunately, the Plus plan doesn’t waive the deductible for Tiers 1 and 2 like the value plan does.

    Because the formulary includes more medications (and therefore could include more of your medications), this plan could save you more money than the Value plan. Of course, what you save all depends on which medications you take and which tier of the formulary they correspond with.

    Bottom Line: This established company’s plans could be a good fit for you

    With Part D plans offered in 49 states and Medigap plans offered in 45, Mutual of Omaha could be a great choice to provide supplemental insurance to your Medicare coverage.

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    Mutual of Omaha FAQ

    How long has Mutual of Omaha been in business?

    Mutual of Omaha has been in business since 1909—longer than Arizona and New Mexico have been states, and before the Titanic relocated to the bottom of the North Atlantic.

    What is a Medicare Supplement plan?

    A Medicare Supplement plan is insurance that you can buy to lower the out-of-pocket costs of Original Medicare. Also known as Medigap insurance, these supplemental insurance policies help cover costs Original Medicare doesn’t, like copays, coinsurance, or deductibles.

    There are a few tricky things about Medicare Supplement plans to be aware of, such as when to apply to get the best rates. You can read more about Medigap plans, what they do, and when you should apply in our Medicare Supplement guide.

    What is the best Medicare Supplement plan?

    It depends on what you need, but a good recommendation is to get the most coverage you think you may need and can afford, but not more. That’s because, in general, the more coverage your plan includes, the more it costs.

    Plan F is one of the most popular plans because it covers a lot of costs, however, it’s not going to be around forever. A popular alternative is Plan G, which provides the same benefits as F apart from covering the Part B deductible. You can read more about every Medigap plan in our Medicare Supplement guide.


    Content on this site has not been reviewed or endorsed by the Centers for Medicare & Medicaid Services, the United States Government, any state Medicare agency, or any private insurance agency (collectively "Medicare System Providers"). Eligibility.com is a DBA of Clear Link Technologies, LLC and is not affiliated with any Medicare System Providers.

    Alex Enabnit
    Written by
    Alex Enabnit
    Medicare and geriatric care expert, Alex has one motivation behind every word he writes, and that’s finding you the best medical coverage for your situation. Alex has been featured on Bloomer Boomer, Best Company, HealthPopuli.com, the Daily Ledger on the One America News Network, WBAP News radio, and more. Outside of work, you can find him hiking with his wife and pup or (occasionally) going to the gym.
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