Medicare supplemental insurance coverage can take care of medical expenses not covered under other insurance plans. If all you have is the basic Medicare plan, and you still have medical expenses that you have trouble paying for, then a Supplement plan might be just the thing to make your healthcare affordable. We are going to look specifically at Mutual of Omaha Medicare Supplement plans for 2020 and what they can do for you.
Please keep in mind that not everyone will benefit from one of these supplemental plans. They are really only intended for seniors who already have Original Medicare or who intend to get it and who still need additional coverage. There is additional coverage provided by union coverage plans, by Medicare Advantage and some other options, but none of them offer the range of options and specific coverage that Medicare Supplements do, which is why these plans are worth considering for every senior.
You can only sign up for one of these plans if you meet the qualifications. Generally, they are reserved for seniors, which would be people who are 65 years or older. Medicare Supplements can be made available to you before that age, but you would have to meet specific requirements that you can discuss with a Medicare agent about and see if you qualify for. Just know that if you have a disability or have been diagnosed with end stage renal disease, there is a good chance that you could sign up for Medicare and Medicare Supplements before age 65.
How to Get Medicare Supplemental Coverage
You also have to have the right coverage plan in order to qualify for Medicare Supplements. If you signed up for a Medicare Advantage plan or something else that overlaps in its coverage with Medicare Supplements, then you need to drop that before you can sign up for this new plan. Medicare regulates all Medicare Supplements, and it will not allow you to have two plans at the same time that overlap in any way.
Medicare Supplements are compatible with Medicare Part D, which is Medicare’s prescription drug plan.
You can apply for a Medicare Supplement plan at any private insurance company that tells it. They don’t all sell the same plans and they all charge their own prices, so you will want to keep that in mind as you choose your plan. Mutual of Omaha offers its own set of Medicare Supplement plans. It cannot pick what coverage the plans have, but it can mostly decide which of the 10 plans that Medicare has created it wants to offer its customers. If you don’t like Mutual of Omaha’s selection, you can just look elsewhere for your plan.
Signing up is easy as long as you meet the eligibility requirements. We suggest you apply during Open Enrollment, which takes place during the six-month window following your 65th birthday. In that period of time, you are guaranteed to be approved for any Supplement plan for which you apply. You also get the best possible rates, and your preexisting medical conditions cannot be factored in. This applies to Mutual of Omaha and every other insurance company selling these plans.
Medicare Supplementals Chevage
It’s important to know what the Mutual of Omaha Medicare Supplement plans for 2020 are offering. You ought to have an idea of whether they will be suitable for you or not, and you can only do that by comparing what they cover to what your needs are.
Mutual of Omaha abides by the same coverage rules as everyone else who sells these plans, and with their supplemental coverage plans, you could be covered for some or all of the following:
- Medicare Part B excess charges
- Nursing care coinsurance payments
- Medicare Part A copayments for hospitalization
- Medicare Part B copayments
- Medicare Part A deductibles
- Medicare part B deductibles
- The first three pints of blood every year (this coverage renews form one year to the next)
- Foreign travel exchange for as much as $50,000 in your lifetime and 80% of the per-incident costs
How much coverage you get from the list depends not on the insurance company, but on the plan you choose to go with. For instance, Plan G, which every insurance company has to offer if they offer any Supplement plans, will cover you for every item on the list in full. It covers you completely for supplemental expenses.
Plan G will be the most popular plan for 2020 and will cover of the majority of your supplemental expenses, asking that you pay for the Medicare Part B deductible.
Plan N is another option that has a lot of coverage. It covers most of the supplemental expense, but it will not cover the Medicare Part B deductible, the Medicare Part B excess charges or some smaller copayments.
These are just a few of the Supplement plans that Mutual of Omaha has to offer, and its selection of plans can change every so often, as can its rates for those plans. You would do well to compare the rates on the plan you want to see if Mutual of Omaha has the best prices. You should also take into consideration their customer service, reputation, stability and member services.
Each insurance company offers members services that can range from something as simple as online advice and counselling for picking plans to something more beneficial like access to expert medical professionals and a large network that ensures you will be covered in most places. Examine the pros and cons of providers like Mutual of Omaha and see if what they have to offer makes their prices worth paying.
The Mutual of Omaha Medicare Supplement plans for 2020 are worth looking into for any senior. We know that senior medical insurance can be quite confusing, what with all the options you have and the way it changes every so often, but Mutual of Omaha will likely always be a good choice and Supplement plans do save many people money on their healthcare. We urge you to give these a look, compare some prices and see if one of these plans may be a good fit in your situation.