by Russell Noga | Updated September 26th, 2023
If you’re turning 65 and you are planning on enrolling in Medicare Part A and Medicare Part B, you might be thinking about purchasing Medicare Supplement Insurance (Medigap) to cover the out-of-pocket expenses that Original Medicare doesn’t cover.
There are several Medigap plans, which can be purchased through a variety of private insurance companies. If you’re looking for the most comprehensive coverage from a highly reputable insurer, Mutual of Omaha might be a good company for you.
What does Mutual of Omaha Plan G cover?
To help you make the most informed decision, in this article, we answer this question and provide some other pertinent information.
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About Mutual of Omaha
Mutual of Omaha is a financial services and insurance company that has been providing Americans with high-quality products and services for more than a century. The company and its subsidiaries began offering Medicare Supplement Insurance (Medigap) plans when they were first introduced.
Medigap plans provide coverage for the out-of-pocket expenses that Medicare Part A and Part B (Original Medicare) don’t cover; copays, coinsurance, and deductibles, for example.
Mutual of Omaha has a long-standing history of offering reliable products and customer service, as well as a solid financial background. The company offers Medicare Supplement Insurance in 49 states (except Massachusetts) and Washington, DC.
About Medicare Supplement Plan G
There are a total of 10 Medicare Supplement insurance plans, and each plan provides different coverage.
The plans are identified by letters and all plans are standardized, meaning that regardless of the state they’re purchased in or the insurance company that provides them, each lettered plan must offer the same standard benefits.
Plan F used to provide the most comprehensive coverage, meaning that it covered the most out-of-pocket expenses; however, since January 1, 2020, new Medicare enrollees are no longer eligible for this plan.
Beneficiaries who already had Plan F prior to this date can keep it and those who became eligible for Medicare before the start of 2020 but didn’t enroll may be able to purchase this plan, for anyone else who is looking for the most comprehensive coverage, Plan G is an alternative option. Medicare Supplement Plan G from Mutual of Omaha offers the same benefits as Plan F, with the exception of the Part B deductible.
What Does Mutual of Omaha Plan G Cover?
Mutual of Omaha, as mentioned, is one of the leading providers of Medicare Supplement Insurance plans, and a large percentage of beneficiaries who purchase Medigap through this insurer opt for Plan G.
Since Plan G is standardized, it must provide the same coverage, regardless of the insurer that provides it, which means that Mutual of Omaha’s Plan G must offer the same coverage as Plan G any other insurance company provides. Mutual of Omaha does offer additional perks, however.
Plan G Benefits
Mutual of Omaha Plan G cover offers the following benefits:
- Part A deductible. Medicare Part A has a deductible that you are required to pay if you are admitted to medical facilities for inpatient care. This deductible functions on a benefit period, meaning that if you meet the Part A deductible in a single benefit period if you have another benefit period within the same year, you may have to pay the deductible again. Mutual of Omaha Plan G covers 100 percent of the Part A deducible, regardless of how many benefit periods you have over the course of a year.
- Part A coinsurance. For inpatient care, Medicare Part A also requires you to cover coinsurance. Mutual of Omaha Plan G covers the entire cost of Part A coinsurance.
- Part B coinsurance or copayments. Medicare Part B pays for a lot of the medical care that you might require on an outpatient basis; doctor visits, physical therapy, etc. It also covers a large percentage of the cost of durable medical equipment. You will have to pay a deductible before Part B will kick in, which was $226 in 2023. Once you have fulfilled the deductible, you have to pay a 20 percent coinsurance for the amount Medicare approves. Medigap Plan G from Mutual of Omaha will pay for the full cost of your Part B coinsurance or copayments.
- Part A hospice coinsurance or copayments. Medicare Part A will cover the cost of hospice care; however, you must pay a 5 percent charge for coinsurance, and a copayment for prescribed products and drugs. Mutual of Omaha Plan G will cover the cost of this coinsurance and copayments.
- Skilled nursing facility coinsurance. If you receive care in a skilled nursing facility for more than 20 days within the same benefit period, you’ll need to pay a daily copayment, which, in 2023 amounted to $200. Mutual of Omaha Plan G will provide full coverage for this expense.
- Part B excess charges. Some Medicare providers can charge more than the amount Medicare has approved for services and products; up to 15 percent. This is referred to as excess charges, and if you have Plan G from Mutual of Omaha, this expense will be fully covered.
- Blood transfusions. Original Medicare doesn’t pay for the first three pints of blood that might be necessary for blood transfusions; it only kicks in for the fourth pint. Mutual of Omaha Plan G will cover the first three pints of blood.
- Emergency care while traveling abroad. If you’re traveling abroad and you require emergency medical care, Plan G will cover up to 80 percent of the cost, as long as the care you receive is provided within the first 60 days of travel.
Mutual of Omaha offers additional benefits, on top of the standard Plan G benefits. These include:
- Mutually Well. When you purchase Plan G, you will also have access to Mutual of Omaha’s Mutually Well program, which offers discounted rates for gym memberships, as well as health and wellness products and services.
- Vision and hearing aids. You might also be eligible for discounts for vision care, including eyeglasses, as well as hearing aids.
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Frequently Asked Questions
What is Mutual of Omaha Medicare Supplement Plan G?
Mutual of Omaha Medicare Supplement Plan G is a popular Medicare Supplement plan that provides additional coverage to fill the gaps left by Original Medicare. It helps cover out-of-pocket costs such as deductibles, coinsurance, and copayments.
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To find the best price for Mutual of Omaha Plan G, fill out the form to the right or give us a call at 1-888-891-0229 to speak with a licensed agent. You’ll receive instant access to quotes so you can choose the best option for your healthcare needs.
Russell Noga is the CEO of Medisupps.com, an online Medicare Agency and resource center helping Medicare beneficiaries learn about Medicare, Medigap and Part D drug plans, and Medicare Advantage plans since 2009. Russell is licensed in all 50 states and has been featured as a keynote speaker, and author of several publications, along with hosting the very popular Medisupps.com Youtube channel.