With the Mutual of Omaha Medicare Supplement Plan G, beneficiaries can cover expenses not covered by Original Medicare. Having Medicare Supplement insurance can give you peace of mind because costs such as copays, deductibles, and coinsurance can add up.
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Medigap plans are standardized and include A, B, C, D, F, G, K, L, M, and N. However, Plan G is quickly gaining in popularity. Let’s take a look:
- Mutual of Omaha Medicare Supplement Plan G is the most comprehensive Medigap plan for new Medicare enrollees as of January 1, 2020.
- Plan G pays for all gaps in Original Medicare excluding the Part B deductible.
- In addition to foreign travel emergency care, Medicare Supplement Plan G also covers Medicare Part B excess charges.
What is covered by Mutual of Omaha Medicare Supplement Plan G?
Plan G is the single most comprehensive Medicare Supplement policy available to beneficiaries enrolled in Medicare Part B. The plan virtually eliminates the gaps in the first plan, with only the Part B deductible remaining to be covered by the beneficiaries. Beneficiaries enrolled in Medigap policy G are covered for most outpatient medical services.
The following benefits are included with Plan G, whether you select Mutual of Omaha as your insurance provider or another leading insurer:
- Part A coinsurance
- Costs of hospital inpatient care (up to 365 days after Original Medicare benefits run out)
- Emergency room copays
- Medicare Part A hospice copayments
- Part A deductible
- Coinsurance for preventive office visits
- Coinsurance for Part B
- Part B Excess charges
- (for medical procedures) for the first three pints of blood
- Coinsurance for skilled nursing facilities
- Foreign travel emergency care benefit
- Plan G does not cover Medicare Part B deductible ($226 in 2023)
What is the price of Mutual of Omaha plan G?
Depending on where you live and your personal health information, you will pay a different monthly premium for the Medicare Supplement Plan G with Mutual of Omaha.
An average premium in 2023 would be $110.52 per month for a 65-year-old female, nonsmoker, living in the Texas 75216 zip code.
Have rates increased at Mutual of Omaha in the past?
Regardless of the health insurance company you choose, rate increases are inevitable, so Mutual of Omaha keeps its rates as low as possible. Due to Mutual of Omaha Medicare Supplement’s larger beneficiary numbers, they can bear a greater risk than smaller companies. This results in smaller increases in premiums.
Rates increase with MOO, as they do with many other companies, on average between 3% and 10%. By enrolling in a plan with a 12-month rate lock, you can protect yourself from rate increases. You are guaranteed not to have your rates rise during the first year of coverage.
Furthermore, Mutual of Omaha provides a Free Look Period of 30 days as well. A 30-day cancellation period gives you the flexibility to cancel your policy anytime, for any reason.
Is a Mutual of Omaha Medicare Supplement Plan G Right for You?
In purchasing Medicare Supplement insurance, you can free yourself and your family from financial concerns if you should become ill. Who better than Mutual of Omaha to trust with your health and your peace of mind? Since Mutual of Omaha has been around for more than a century, countless seniors in every state have chosen a top-of-the-line, affordable Medicare Supplemental policy from them.