Medicare Supplement plans can be purchased from third party insurance companies, such as Mutual of Omaha. These companies have to stick to Medicare’s assigned coverage for each plan, but they can decide on prices for themselves. This is why it is important to compare what various insurance companies charge for Supplement plans that you have interest in signing up for. We are going to look at Mutual of Omaha Medicare Supplement 2019 benefits and plans so that you can see for yourself what they are offering and how they might be beneficial to you.
As we do, we want you to keep in mind that Mutual of Omaha is not offering any exclusive coverage on these plans. Their Medicare Supplements will not cover anything that other insurance companies’ Supplements plans do not cover, so you are getting the same, exact plans no matter where you purchase them from. The difference is in what the cost of the plans is, which plans are available at each insurance provider and what kind of member benefits you get by signing up with one insurance company compared to another.
About Mutual of Omaha
This insurance company has been in the medical insurance business for a few decades, and in that time, it has acquired a positive reputation for both customer support and member benefits. Mutual of Omaha provides excellent care, according to most reports, and has been a stable insurance provider for a very long time, making it a good choice for seniors who want stability in pricing and coverage plans.
Mutual of Omaha can change their prices when they wish, but they do a good job of letting their members know when prices are going to increase long before those price changes take effect. They also provide valuable customer care services, such as health plans and insurance advice, to help their members make the most of their insurance coverage.
Mutual of Omaha only offers so many Medicare Supplement plans. Like other insurance companies that sell these plans, they have some choice as to which plans they want to offer, and they have only chosen a few to sell each year. That list of plans can change from year to year, so if they don’t have what you are looking for one year, but you like them as an insurance provider, then you can keep checking back with them.
It’s important that you know what kind of medical expenses you could get coverage for. If you sign up for a Medicare Supplement plan, then there are a lot of different expenses that could be taken care of for you, once you pay the monthly premium. How much coverage you get, and which expenses should be covered will all depend on which of the plans you choose. Let’s look at the kind of expenses that Medicare Supplements plans can take care of for you, while keeping in mind that not all of them cover all these items.
One of the more common items covered is the Medicare Part A copayment. This is what you have to pay if you have a basic Medicare plan and receive Medicare Part A services. The Part B copayment can also be covered, and these two are covered by most Medicare Supplement plans.
The Part A deductible is covered by a lot of Supplement plans as well. That’s an annual payment for receiving coverage for Medicare Part A services from your basic Medicare Plan. The Part B deductible is not covered by as many Supplement plans. Only a couple of them provide coverage for this particular expense. That’s because it is far less expensive than the Part A deductible, coming in at only $183 per year. In many cases, it is cheaper to pay this one from your own pockets than to pay to have a Medicare Supplement plan cover it for you.
Coinsurance payments for skilled nursing care and for hospice care can be covered as well. These are commonly covered by most of the Medicare Supplement plans, though some of them only cover these two items for 50% or 75% of their total costs.
Your blood usage (as much as three pints in a year) can be covered under most Supplement plans too. This is coverage that is added on top of what you get with the basic Medicare plan for blood usage.
The average Mutual of Omaha Medicare Supplement 2019 plan will cover you for emergency medical transport outside the US as well. This is something that even the most robust and comprehensive Medicare Supplement plan will only cover you for up to 80%, though, with some covering you even less. You have to pay a deductible for this coverage, though, and it maxes out at $50,000 over your lifetime.
That’s the Medicare Supplement coverage in a nutshell, and some the plans will only cover a handful of these expenses, while a few of them cover nearly all or all of these items. You’ll have to be careful about which plan you choose, and make sure that you get one that is a good fit for you and that doesn’t cost too much.
Signing Up for Mutual of Omaha Medicare Supplements
If you want to get your Medicare supplemental insurance through Mutual of Omaha, then you can just visit their site and apply online there. It’s simple and quick and you should get a response back in a few days. Most seniors are already eligible, once they hit age 65. If you have a basic Medicare plan, then you probably qualify already. You do need that basic Medicare plan, which is only available through Medicare and is a prerequisite for every Medicare Supplement plan. You can sign up for both the basic Medicare plan and the Supplement at the same time, if you like.
We suggest comparing a few other insurance companies to Mutual of Omaha before signing with them though, as you may find a cheaper price on the plan you want if you look elsewhere. Just compare the prices and get an idea of how Mutual of Omaha compares to other insurance companies.
You also have to keep in mind that Mutual of Omaha may not have the plan you want. If they don’t, then be careful about settling for something else. You want the most suitable coverage for you, and sometimes that means going to another insurance company to find the one Supplement plan that you have picked as your favorite.
Once you sign up for a Medicare Supplement with Mutual of Omaha or any other insurance company, then you are locked into that plan for the duration of its term. That term usually lasts a year, but you may be able to get a longer term than that, if you feel the plan will fit you well for a long time. You may have trouble changing the plan to something different while you are within the term, and you want to be sure that you going to be happy with it for the duration of the term. It can be troublesome and costly to switch to a different plan in the middle of your current plan’s term.
Once the term has finished, though, you can always renew for another term, cancel the plan entirely or switch the plan out for another one of your choice. If you are eligible for one Medicare Supplement, then you are eligible for all of them.
The Cost of Mutual of Omaha Supplements
With any Medicare Supplement, you have to pay a monthly premium on the plan. That’s a given, but you may also have to pay deductibles and copayments for some things that are not covered by the plan and even for some things that are. The foreign emergency medical travel coverage, for example, comes with a deductible that you need to pay, regardless of how comprehensive your supplemental coverage is. You need to be aware of expenses like that.
You should also know about the cost of your basic Medicare plan. There are copayments and deductibles attached to that, and if they are not covered by your Supplement plan, then you have to pay for them. This mean there could be both monthly and annual payments that you are responsible for that are related to your supplemental plan. You could also have to pay copayments for each visit to the doctor’s office, hospital or emergency room, depending on the coverage plan you go with.
You can always ask about the cost of services and whether you are covered for them or not, before you agree to have any medical services performed on you. You are entitled by law to an accurate answer to this kind of question.
Mutual of Omaha Medicare Supplement 2019 benefits may be a good choice for you, but you’ll have to take a look at your personal medical expenses first to make that decision. Once you do and you sign up for the right plan, you could be saving hundreds of dollars every year on medical care.