by Russell Noga | Updated July 9th, 2023
Mutual of Omaha is a well-known insurance company that offers Medicare Supplement Insurance plans. Medicare Supplement Plan F is one of the most popular options that the company offers.
If you’re newly enrolled in Medicare and you’re thinking about purchasing Plan F to help pay for Original Medicare out-of-pocket expenses, keep on reading to learn some invaluable information.
What is Medicare Supplement Insurance?
Medicare is a health insurance program that is sponsored by the federal government. This program is intended for those who are aged 65 and older, as well as individuals with certain disabilities. Medicare is comprised of several different parts, and each part covers different expenses.
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Original Medicare is comprised of two parts: Part A, which covers the cost of any inpatient medical care that beneficiaries receive, and Part B, which covers the cost of outpatient services, such as doctor visits, and durable medical equipment.
Original Medicare doesn’t cover all medical expenses; deductibles, copays, and coinsurance, for example. Medicare recipients are expected to cover these expenses themselves. Of course, the expenses that Medicare Part A and Part B don’t cover can add up, but Medicare Supplement Insurance can help.
Medicare Supplement Insurance, also known as Medigap, covers Original Medicare’s out-of-pocket expenses and helps to make the cost of medical care more predictable and easier to manage for Medicare beneficiaries.
There are 10 Medicare Supplement Insurance plans that are named for letters. Each lettered plan offers the same Medicare-approved standard benefits. Plan F provides the most exhaustive coverage, as it pays for most of Original Medicare’s out-of-pocket expenses.
What is Mutual of Omaha?
Mutual of Omaha is a reputable insurance company that has been around for more than 100 years. The company offers a variety of products and services, including Medicare Supplement Insurance. In fact, Mutual of Omaha is the second-largest provider of Medicare Supplement plans in the United States. Mutual of Omaha offers coverage in all 49 states (Massachusetts being the only exception), as well as Washington, DC. While Mutual of Omaha offers the full gamut of Medigap policies, Plan F is one of the most popular plans the company provides.
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What Does Mutual of Omaha Medicare Supplement Plan F Cover?
Mutual of Omaha Medicare Supplement Plan F covers all of the same standard benefits that the federal government requires. These benefits include the following:
- Part A deductible
- Part A coinsurance and hospital expenses (up to an additional 365 days once your Part A benefits have been exhausted)
- Part A copayment or coinsurance for hospice care
- Part B deductible
- Part B copayment or coinsurance
- Part B excess charges (if you see a healthcare provider that doesn’t accept Medicare and the provider charges more than the Medicare-approved amount for the care or service you received, Plan F will cover the excess charges)
- Coinsurance for skilled nursing facility care
- The first three pints of blood
In addition to covering 100 percent of the above expenses, Mutual of Omaha Medicare Supplement Plan F also covers up to 80 percent of any emergency medical care that you receive within the first 60 days of traveling outside of the United States, up to $50,000.
In addition to the standard Plan F benefits, Mutual of Omaha also offers the following additional benefits:
- Vision care
- Prescription eyeglasses
- Hearing care
- Mutually Well, Mutual of Omaha’s fitness program, which offers discounted rates for gym memberships and for some wellness products and services, as well as an app that can be used to plan out and keep tabs on exercise
Who is Eligible for Mutual of Omaha Medicare Supplement Plan F?
It is important to note that there have been changes to Medicare Supplement Insurance plans. As of January 1, 2020, Medigap policies are no longer allowed to provide coverage for Original Medicare’s Part B deductible.
As such, Plan F has been phased out, meaning that new Medicare beneficiaries – individuals who become eligible for Medicare after these changes took effect – can no longer purchase Mutual of Omaha Medicare Supplement Plan F.
If you were eligible for Medicare prior to January 1, 2020, and you were enrolled in Medicare and purchased Mutual of Omaha Medicare Supplement Plan F, you can keep your plan and providers will still accept the benefits.
If you were eligible for Medicare before this date but you did not enroll, you may still be able to purchase Medigap Plan F through Mutual of Omaha. It is important to note that rates do change, so if you already had Plan F through Mutual of Omaha, you will be subjected to any rate changes that the company imposes.
Medigap Options for New Medicare Enrollees
If you recently became eligible for Medicare or you will become eligible soon, unfortunately, you can no longer purchase Medigap Plan F through Mutual of Omaha or any other insurance company; however, there are still options available. Medigap Plan G offers the most comprehensive coverage for new Medicare members.
This Medigap plan offers all of the same coverage as Plan F, with the only exception being the Part B deductible. Medicare no longer allows any Medicare Supplement Insurance plan to cover the Part B deductible, which means that you will be responsible for covering this expense yourself if you purchase Plan G.
In 2023, the deductible for Part B was $226, which was $7 less than the previous year, and it is expected to be similar in 2024.
In addition to Plan G, Mutual of Omaha also offers several other Medicare Supplement Plans that you may be interested in. Keep in mind that each lettered plan provides different benefits, so it’s important to consider your specific healthcare needs, as well as your budget when you’re trying to determine which Medigap policy to purchase.
Medicare Plan N is also a very popular plan. It offers an even lower monthly premium than Plan G, with additional copays that you might have to pay for office visits.
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Frequently Asked Questions
What is Mutual of Omaha Medicare Supplement Plan F?
Mutual of Omaha Medicare Supplement Plan F is a comprehensive insurance plan that provides coverage for out-of-pocket costs not covered by Original Medicare. It pays for Medicare deductibles, coinsurance, and copayments, giving you greater financial protection and peace of mind.
What are the benefits of Mutual of Omaha Medicare Supplement Plan F?
The benefits of Mutual of Omaha Medicare Supplement Plan F include full coverage for Medicare Part A and Part B deductibles, coinsurance, and copayments. It offers the most extensive coverage among Medicare Supplement plans, eliminating most out-of-pocket costs.
What is the difference between Mutual of Omaha Medicare Plan F and Plan G?
Mutual of Omaha Medicare Plan F and Plan G are similar in coverage but differ in cost-sharing. Plan F covers all Medicare deductibles, coinsurance, and copayments, while Plan G covers everything except the Part B deductible. Plan G may have a lower premium compared to Plan F.
Who is eligible for Mutual of Omaha Medicare Supplement Plan F?
Eligibility for Mutual of Omaha Medicare Supplement Plan F requires being enrolled in Medicare Part A and Part B. The best time to enroll is during the Medigap Open Enrollment Period, which starts on the first day of the month when you are 65 or older and enrolled in Medicare Part B.
When can I enroll in Mutual of Omaha Medicare Supplement Plan F?
You can enroll in Mutual of Omaha Medicare Supplement Plan F during your Medigap Open Enrollment Period. This period provides guaranteed issue rights, meaning you cannot be denied coverage or charged higher premiums due to your health.
Are there any additional benefits offered with Mutual of Omaha Medicare Supplement Plan F?
Additional benefits offered with Mutual of Omaha Medicare Supplement Plan F may include access to the SilverSneakers fitness program, coverage for foreign travel emergencies, and a 30-day “free look” period to review your plan and make sure it meets your needs.
Does Mutual of Omaha Medicare Supplement Plan F cover prescription drugs?
No, Mutual of Omaha Medicare Supplement Plan F does not cover prescription drugs. However, you can enroll in a separate Medicare Part D prescription drug plan to add prescription drug coverage to your Medicare benefits.
Where can I find assistance with enrolling in Mutual of Omaha Medicare Supplement Plan F?
To find assistance with enrolling in Mutual of Omaha Medicare Supplement Plan F, you can work with licensed insurance agents who specialize in Medicare. They can help you navigate the enrollment process, compare plan options, and ensure you have the coverage that best suits your needs.
Can I switch from Mutual of Omaha Medicare Supplement Plan G to Plan F?
Yes, you can switch from Mutual of Omaha Medicare Supplement Plan G to Plan F. However, it’s important to review the coverage and costs of each plan to determine if the switch makes financial sense for your specific healthcare needs.
Is Mutual of Omaha a reputable provider for Medicare Supplement plans?
Yes, Mutual of Omaha is a reputable provider of Medicare Supplement plans. They have a long-standing history in the insurance industry and offer a range of plan options to meet the needs of Medicare beneficiaries.
Find the Right Medicare Supplement Insurance Plan Today!
If you’re trying to determine which Medigap plan to purchase, comparing quotes from several different insurance companies is an important part of the process. To receive quotes from the top insurers in your area – including Mutual of Omaha – just fill out the form to the right of your screen. You can also call 1-888-891-0229 and one of our licensed agents will be more than happy to assist you with your needs.
Russell Noga is the CEO and Medicare editor of Medisupps.com. His 15 years of experience in the Medicare insurance market includes being a licensed Medicare insurance broker in all 50 states. He is frequently featured as a featured as a keynote Medicare event speaker, has authored hundreds of Medicare content pages, and hosts the very popular Medisupps.com Medicare Youtube channel. His expertise includes Medicare, Medigap insurance, Medicare Advantage plans, and Medicare Part D.