Mutual of Omaha Medicare Supplement Review: Plans, Costs & Ratings

Mutual of Omaha's Financial Strength and Company Background

Mutual of Omaha is a Nebraska-based mutual insurance company that has been selling Medicare Supplement insurance for decades. As of 2026, the carrier covers about 1.3 million Medigap beneficiaries and holds roughly 9.3% of the national Medicare Supplement market, making it one of the three largest Medigap insurers in the country.

When choosing any Medigap carrier, financial strength matters because the company has to be able to pay your claims for the rest of your life. On that front, Mutual of Omaha is unusually strong:

• AM Best rating: A+ (Superior) with a stable outlook, the second-highest of AM Best's 16 rating levels, reaffirmed in 2026.
• Long-Term Issuer Credit Rating: "aa-" (Superior), stable outlook.
• Balance sheet strength: Rated "very strong" by AM Best, with strong operating performance.
• S&P Global: A+ (Strong), stable outlook.
• Moody's: A1 (Good), stable outlook.
• BBB accreditation: Continuous since February 1940, with an A+ rating.

That combination of long history, high ratings, and large book of business means policyholders rarely need to worry about Mutual of Omaha's ability to pay claims.

Which Medigap Plans Does Mutual of Omaha Offer in 2026?

Medigap benefits are federally standardized, so a Plan G from Mutual of Omaha covers exactly the same gaps as Plan G from any other carrier. What differs is which plan letters Mutual of Omaha actually sells to new enrollees.

For 2026, Mutual of Omaha (through its affiliates Omaha Insurance Company and United World Life Insurance Company) generally offers these plans to people newly eligible for Medicare:

Mutual of Omaha Medigap plans are sold in Washington DC and every state except Massachusetts, which uses its own non-standardized Medigap framework. For a full breakdown of how the letters compare, see our best Medicare Supplement plans of 2026 guide.

Plan G is the flagship

Plan G is Mutual of Omaha's most popular Medigap plan and the recommended choice for most new enrollees. It covers the Medicare Part A deductible ($1,736 in 2026), coinsurance and other costs incurred from Medicare Part A, plus Part B coinsurance, skilled nursing facility coinsurance, hospice cost-sharing, foreign travel emergency care, and Part B excess charges. The only out-of-pocket cost left under Original Medicare is the $283 Part B deductible in 2026 (up $26 from $257 in 2025). To see whether Plan G fits your needs, our Plan G coverage guide walks through the math.

High-Deductible G for premium savers

One area where Mutual of Omaha stands out is High-Deductible Plan G, which is not offered by AARP/UnitedHealthcare. Premiums often run 60-70% lower than standard Plan G in exchange for paying the CMS-set $2,950 annual deductible for High-Deductible Plan G in 2026 before coverage kicks in. Learn more about who benefits from this plan in our Plan N coverage guide.

Plan N for active seniors

Plan N has a lower premium than Plan G in exchange for a $20 office-visit copay, a $50 ER copay (waived on admission), and no coverage for Part B excess charges. It is a good compromise for healthy enrollees who want lower monthly costs.

Typical Mutual of Omaha Premiums by Age and State in 2026

Mutual of Omaha does not publish a single national rate table. Premiums vary by ZIP code, age, gender, tobacco use, and the issuing affiliate. Most Mutual of Omaha policies use attained-age pricing, meaning your premium goes up as you get older even apart from inflation-driven rate hikes.

Here is a real 2026 sample for a 65-year-old non-tobacco male in a suburban Pennsylvania ZIP code (before discounts):

Independent reviewers found that when comparing Plans G and N across multiple markets, Mutual of Omaha's premiums were approximately 23% to 31% higher than the lowest available options on Medicare.gov. That doesn't make them a bad choice, but it does mean shopping matters. For an all-carrier comparison, our Medicare Supplement cost 2026 guide is worth a read.

How premiums move with age

Because Mutual of Omaha typically uses attained-age rating, expect premiums to keep climbing as you age. The national age-65 to age-85 progression for Plan G runs from about $166 to $267 per month. Mutual of Omaha's curve usually sits above that line. For a broader breakdown of what shoppers should ask, see our Medicare Supplement quotes shopper's guide.

Household Discount, Underwriting, and Rate Increase History

The household discount

Mutual of Omaha is widely considered the leader in household discounts. Mutual of Omaha offers household discounts up to 12% to many applicants, some of the highest of any company analyzed, and they're often available if you live with a domestic partner or other adult, not just a spouse. Some affiliates and states use a 7% discount instead with stricter rules. Unlike many competitors, the discount typically does not require the other adult to also buy a Mutual of Omaha policy in states that use the more liberal rules.

That 12% discount can erase a meaningful portion of Mutual of Omaha's price gap versus the cheapest carrier in your area. On a $240 monthly Plan G premium, the discount saves about $28.80 per month, or roughly $346 a year.

Underwriting guidelines

If you apply during your six-month Medigap Open Enrollment Period or qualify for a guaranteed-issue right, Mutual of Omaha cannot use medical underwriting. They must accept you at the standard rate.

If you apply outside those windows, expect full medical underwriting. Mutual of Omaha's general approach includes:

• Yes/no health knockout questions on the application (certain "yes" answers result in a decline).
• Prescription history review through a HIPAA-authorized lookup.
• Possible phone interview for clarification.
• The "2-2-2 rule" for diabetes combined with hypertension: stable for 2 years, on no more than 2 diabetes medications, and no more than 2 blood pressure medications.
• 60-day replacement rule: Any new application within 60 days of a prior Mutual of Omaha policy is treated as a replacement.
• 12-month weight-loss rule: To re-rate after weight loss, the new weight must be maintained for at least 12 months.

Rate-increase history

This is where Mutual of Omaha looks less attractive. NerdWallet's 2026 analysis found that Mutual of Omaha's year-over-year price increases were some of the highest among the companies reviewed, based on three years' worth of price increases in select locations. Those price bumps can add up over the years. Industry-wide, 2026 Plan G rate filings from Telos Actuarial showed 12-26% increases across major carriers, and Mutual of Omaha tends to sit in the higher half of that range.

Translation: Mutual of Omaha may quote a competitive starting premium, but renewal increases can outpace the market. Always combine rate-history research with a quote comparison against carriers like AARP/UnitedHealthcare and Humana.

Mutual of Omaha vs. AARP/UnitedHealthcare vs. Cigna

All three carriers sell the same standardized Medigap benefits, but they differ on pricing, discounts, plan availability, and rate behavior. NerdWallet's 2026 Medigap picks name State Farm best overall, AARP/UnitedHealthcare best for plan availability, HealthSpring (formerly Cigna) best for low prices, and Mutual of Omaha best for premium discounts.

Mutual of Omaha vs. AARP/UnitedHealthcare

AARP/UnitedHealthcare Medicare Supplement plans are available in every state, offering more plan letters (often 8 of 10). Mutual of Omaha offers fewer letters but includes High-Deductible G and has a larger household discount. AARP/UnitedHealthcare's annual price increases were about 12% per year on average, close to the highest among the companies reviewed, and Mutual of Omaha's tend to run higher still. For a deeper look at AARP's offering, see our AARP Medicare Supplement review.

Mutual of Omaha vs. Cigna (HealthSpring)

Cigna's Medigap business was rebranded as HealthSpring after HCSC's 2025 acquisition and is now sold in 48 states and DC. Independent analysts often rank HealthSpring as the "lowest-price" major carrier for Plan G and Plan N, sometimes by 15-20% versus Mutual of Omaha at the same age. Cigna also offers stacked household plus online-application discounts that can reach 25% total. Mutual of Omaha typically beats them on complaint volume. Our Cigna Medicare Supplement review covers the full HealthSpring picture.

Pros and cons summary

For a wider ranking, see our best Medicare Supplement companies of 2026 guide.

Is Mutual of Omaha a Good Choice in 2026, and How to Enroll or Cancel

Who benefits most from Mutual of Omaha

Mutual of Omaha is a strong fit for:

• Couples or roommates who can stack the 12% household discount.
• Healthy enrollees who want High-Deductible Plan G's low premium.
• Buyers who prioritize financial strength and low complaint volume over the absolute lowest price.
• People who plan to actively shop at renewal, using birthday-rule or guaranteed-issue rights to switch if rate increases get steep.

It is less ideal for buyers who want the absolute cheapest starting premium with no intention of switching later, or who live in a state where AARP/UHC or HealthSpring undercuts them significantly.

How to enroll

1. Confirm you have Medicare Part A and Part B and are not in a Medicare Advantage plan.
2. Choose your plan letter (Plan G, Plan N, or High-Deductible G are the most common).
3. Get a quote on Mutual of Omaha's site or through a licensed broker.
4. Apply during your six-month Medigap Open Enrollment Period to skip underwriting, or any time if you have guaranteed-issue rights.
5. Provide your Medicare Beneficiary Identifier (MBI), Part A/B effective dates, and pay the first month's premium.

Approval is typically same-day or next-day during Open Enrollment. Underwritten applications can take a few days while Mutual of Omaha reviews prescription history and health answers.

How to cancel

To cancel an existing Mutual of Omaha policy:

1. Wait until your new policy is approved if you are switching carriers. Never cancel before approval.
2. Call Mutual of Omaha at the number on your policy or your member portal to request cancellation in writing.
3. Confirm the termination date in writing to avoid double premiums.
4. If you are within 30 days of your original effective date, you may use the 30-day free look period to get a full refund.

Frequently Asked Questions

Is Mutual of Omaha a good Medicare Supplement company?

Mutual of Omaha is a solid Medicare Supplement carrier with an A+ (Superior) AM Best rating, a notably low complaint ratio for its size, and competitive plan options including High-Deductible Plan G. The main drawbacks are above-average renewal rate increases and starting premiums that often run 23% to 31% above the cheapest carrier in a given market. For most buyers, it's worth a quote but should be compared head-to-head with AARP/UnitedHealthcare and HealthSpring.

What is Mutual of Omaha's household discount, and how much does it save?

Mutual of Omaha offers a household discount of up to 12% on Medigap premiums in many states (some states use 7%). It typically applies if you live with at least one other adult, often a spouse, domestic partner, or another adult 60+, and in many states the other person does not need to buy a Mutual of Omaha policy. On a $240 monthly Plan G premium, that's about $29 per month or $346 a year in savings.

How often does Mutual of Omaha raise Medigap rates?

Mutual of Omaha typically raises Medigap rates annually, and independent analyses have found the carrier's year-over-year increases are among the highest of major Medigap insurers. Industry-wide 2026 Plan G rate hikes ranged from 12% to 26%, with Mutual of Omaha often sitting in the upper half. Because Mutual of Omaha uses attained-age pricing in most states, your premium also rises just because you got older, on top of any company-wide rate action.

Does Mutual of Omaha offer Plan F or High-Deductible Plan G?

Mutual of Omaha offers Plan F and High-Deductible Plan F only to people who became eligible for Medicare before January 1, 2020, in line with the MACRA rules that closed those plans to new enrollees. High-Deductible Plan G is available to all new enrollees in most states, with a 2026 deductible of $2,950. It is one of the lowest-premium Medigap options Mutual of Omaha sells, often under $70 per month at age 65.

How do I cancel a Mutual of Omaha Medicare Supplement policy?

To cancel, contact Mutual of Omaha customer service at the phone number on your policy ID card and request cancellation in writing, ideally by certified mail or through your member portal. If you are switching to a new Medigap carrier, wait until the new policy is approved and active before canceling the old one to avoid a coverage gap. If you are within 30 days of your policy's original effective date, you can use the 30-day free look period for a full premium refund.