Mutual of Omaha Medicare Supplement Review – A Leading Insurer With A+ Ratings

Original Medicare leaves you exposed. You owe the Part A hospital deductible, $1,736 per benefit period in 2026, plus 20% of most Medicare-approved Part B costs, and there’s no yearly limit on what you can spend. A Medigap policy, the private Medicare Supplement Insurance that fills those gaps, works the same way at every insurer in most states because the lettered plans are standardized. That leaves three things to compare between companies: the premium and how it’s priced, the discounts and extras that come with the policy, and the financial strength of the insurer.

Mutual of Omaha Medicare Supplement Insurance comes from a company founded in 1909 in Omaha, Nebraska, as Mutual Benefit Health & Accident Association. Medicare Supplement is still its largest product by revenue. In April 2026, the rating agency AM Best called Mutual of Omaha a leading Medicare Supplement insurer and affirmed an A+ (Superior) financial strength rating for Mutual of Omaha Insurance Company, the parent company. Mutual of Omaha has also been accredited by the Better Business Bureau since 1940 and holds an A+ BBB rating.

Key Features

With the benefits fixed by federal law, Mutual of Omaha stands out for its household discount where available, its extra programs, and the financial strength behind it.

Plans Available to New Enrollees

The lineup varies by state. In Dallas, Columbus, and Phoenix, Mutual of Omaha’s quote tool offered four plans to a 65-year-old new to Medicare in 2026. Plan F, and High-Deductible Plan F where it’s sold, remain open only to people eligible for Medicare before 2020.

• Plan G: The company’s most popular plan. You pay the Part B deductible, $283 in 2026, and the plan picks up the rest of your Medicare-approved costs, plus Part B excess charges, which some doctors can legally bill above Medicare’s approved amount.
• Plan N: A lower premium in exchange for more cost sharing. You pay the Part B deductible plus copays capped at $20 for certain doctor visits and $50 for an ER trip that doesn’t end in a hospital admission. It doesn’t cover excess charges.
• High-Deductible Plan G: You pay the deductibles, coinsurance, and copays Medicare leaves to you, up to $2,950 in 2026, before the plan pays anything. After that, it works like Plan G. It suits buyers who want the smallest premium and could absorb a $2,950 bill.
• Plan A: The basic benefits only. It leaves the Part A and Part B deductibles, skilled nursing coinsurance, excess charges, and emergency care abroad to you. On Sept. 23, 2026, the quote tool priced Plan A for a 65-year-old woman in Dallas (75201) just $16.50 a month below her $215.65 Plan G.

Sample Premiums in Three Cities

Your premium depends on your ZIP code, age, sex, and household. Mutual of Omaha’s quote tool showed these monthly prices on Sept. 23, 2026, for a 65-year-old woman and man, before any discount:

• Dallas (75201): Plan G $215.65 for the woman and $247.98 for the man; Plan N $150.63 and $173.21; High-Deductible Plan G $49.28 and $56.68
• Columbus, Ohio (43215): Plan G $190.74 and $219.34; Plan N $116.59 and $134.08; High-Deductible Plan G $45.84 and $52.72
• Phoenix (85004): Plan G $243.17 and $279.64; Plan N $170.92 and $196.55; High-Deductible Plan G $52.19 and $60.02

Because every Plan G pays the same benefits, compare these quotes with the Plan G prices Medicare.gov lists for your ZIP code before you choose.

Pricing methods differ by state. Medicare.gov lists Mutual of Omaha’s Plan G with attained-age pricing in Texas and Ohio, which bases the premium on your current age, so it adjusts as you get older. In Arizona it’s issue-age pricing, which sets the rate by your age when you buy.

Discounts & Extras

Where it’s available, the household discount can do the most for your bill. It lowers your premium if you live with your spouse or have shared a home with another adult for a year or longer, and the amount and the rules vary by state. In Ohio, the person you live with must also have or apply for a Mutual of Omaha Medigap policy. On our Sept. 23, 2026, quote for a 65-year-old woman in Dallas (75201), the discount lowered her Plan G premium from $215.65 to $189.77 a month.

Policyholders also get three discount programs, none of which is insurance. Mutually Well charges $29.99 a month for access to more than 10,000 gyms, with no sign-up fee or contract, and adds online fitness classes. EyeMed provides a $50 eye exam and 40% off frames up to $140, and Amplifon offers reduced hearing aid prices with a 60-day risk-free trial. You also save 15% on a Mutual of Omaha dental policy bought alongside your Medigap coverage. None of the three programs is available in New York.

Enrollment & Underwriting

Your timing decides your options. Your Medigap Open Enrollment Period is a six-month window that opens in the first month you’re at least 65 and enrolled in Part B. Inside it, Mutual of Omaha can’t turn you down or charge you more because of your health.

After the window closes, federal rules let insurers ask health questions, then decline an application or charge more. A new policy can also hold off on covering pre-existing conditions for as long as six months. Some states add protections. In specific situations, federal guaranteed issue rights also require insurers to sell you a policy without charging more for your health. They apply if employer coverage that paid after Medicare ends, for example, or if you leave a Medicare Advantage plan within a year of joining it at 65.

Medicare’s fall Open Enrollment, Oct. 15 to Dec. 7, doesn’t change those rules. It’s the window for switching between Original Medicare, Medicare Advantage, and Part D drug plans. Medigap applications are accepted year-round.

You can apply online after a quote, by phone with a licensed agent, or with a local agent. If you’re switching, keep your current policy until the new one is approved, because a canceled policy may not be available to you again. And since Medigap doesn’t include drug coverage, budget for a separate Part D plan.

Claims, Service & Financial Strength

Claims mostly handle themselves. With most Medigap policies, the insurer gets your Part B claim information straight from Medicare. Mutual of Omaha says it processes 99% of claims within 24 hours, based on its 2024 claims across its companies and insurance lines. Policyholders can pay premiums and update details through the Customer Access website.

The company behind a policy you may keep for decades matters too. AM Best rates Mutual of Omaha Insurance Company A+ (Superior), S&P Global rates it A+, and Moody’s rates it A1. Mutual of Omaha lists all three on its financial strength page. The company that issues your policy depends on your state. Our Texas and Arizona quotes named Mutual of Omaha Insurance Company, and the Ohio quote named its affiliate Omaha Supplemental Insurance Company.

As with every standardized Medigap policy, your coverage renews automatically as long as you pay the premium, even if your health changes.

Medigap vs. Medicare Advantage

Medicare Advantage is the different path, and Mutual of Omaha doesn’t sell it. These private plans take the place of Original Medicare and cover your Part A and Part B services. They cap your yearly costs for covered services, often charge low or no premiums beyond Part B, and usually include drug coverage. In exchange, you may need to stay in the plan’s network and get referrals or approval before some care. Original Medicare with a Medigap policy lets you see any doctor or hospital nationwide that takes Medicare. You can’t pair Medigap with an Advantage plan, and if you start with Advantage and want Medigap later, expect health questions unless a guaranteed issue right applies.

Pros

• A household discount where available. Sharing a home with a spouse, or with another adult for at least a year, cut a 65-year-old woman’s Plan G quote in Dallas (75201) from $215.65 to $189.77 a month on Sept. 23, 2026.
• Quotes without handing over contact details. The online tool prices each plan for your ZIP code from your birth date and sex, and you can apply online.
• Strong financial ratings. AM Best rates Mutual of Omaha Insurance Company A+ (Superior), and S&P Global rates it A+.
• Freedom to see any doctor. Its plans let you see any doctor or hospital in the U.S. that accepts Medicare, with no network to stay inside.
• A low-premium high-deductible option. In our Sept. 23, 2026, quotes for a 65-year-old woman and man in Dallas (75201), Columbus (43215), and Phoenix (85004), High-Deductible Plan G ran $45.84 to $60.02 a month. That suits buyers who can handle the $2,950 deductible.
• Discount programs built in. Fitness, vision, and hearing discounts come with the policy everywhere but New York, and a dental policy bought alongside it costs 15% less.
• Medigap is its core business. Medicare Supplement is Mutual of Omaha’s largest product by revenue.

Cons

• Not the lowest-cost Plan G in the markets we checked. It fits buyers who put the household discount, extra programs, and financial strength ahead of the lowest premium.
• Age-based pricing in some states. In Texas and Ohio, Plan G premiums are based on your current age, so they adjust as you get older.
• A focused plan lineup. The markets we checked offered four plans to new enrollees, without Plan K, L, or M for buyers who want a lower premium with more cost sharing.

Final Word

Mutual of Omaha is a strong Medigap choice from a company that has made Medicare Supplement its largest business. Its parent company’s A+ ratings from AM Best and S&P Global, its household discount where available, online applications, and built-in discount programs add value beyond the standardized benefits.

Shoppers who care most about the lowest premium should compare Medicare.gov’s list for their ZIP code first. If you value a large, long-established insurer and can use the household discount, get a Mutual of Omaha Medicare Supplement Insurance quote during your six-month open enrollment window or while a guaranteed issue right applies.

Learn more about Mutual of Omaha Medicare Supplement Insurance.

Advertiser Disclosure: Many or all of the offers that appear on this site are from companies that compensate us, and some companies pay for sponsored content. That compensation may influence which products we cover and where and how they appear on a page, including the order in which they appear. We do not include every company or offer available in the marketplace.

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