Mutual of Omaha Medicare Supplement Plan F

Mutual of Omaha Medicare Supplement Plan F is an insurance policy intended to cover the out-of-pocket health care costs of Original Medicare Medicare Part A and Medicare Part B. Although Original Medicare Part A and Part B cover hospital costs, skilled nursing home care, doctor’s office visits, and routine medical services and health care for many people in the United States, these plans do have deductibles, coinsurance, and copayments that beneficiaries need to pay out of pocket. There are also plan limits, which together can add up to a considerable amount of money. Mutual of Omaha Medicare Supplement Plan F pays for all of these out-of-pocket medical expenses incurred while receiving Medicare benefits. Medicare Supplement Insurance Plan F is categorized as a Medigap insurance policy and Mutual of Omaha Medigap Plan F is one of the best-rated Medigap policies available, providing excellent benefits.

Mutual of Omaha Medicare Supplement Plan F 

Generally speaking, Mutual of Omaha Medigap Plan F pays for all of the Medicare Part A and Part B deductibles, coinsurance costs, and copayments. It covers:

  • All of the Part A hospitalization deductibles for up to 425 days of hospitalization
  • All of the Medicare Part A deductible for skilled nursing facility care up to 100 days
  • All of the Medicare Part A coinsurance and copayments for hospice care
  • All of the costs of the first 3 pints of blood per year
  • All of the yearly Medicare Part B deductible
  • All of the 20% Medicare Part B coinsurance costs for doctor’s office visits and routine medical care
  • All of the Medicare Part B excess charges
  • 80% of costs incurred for emergency medical health care required during a foreign travel emergency, up to $50,000

Thus, as long as a beneficiary pays the monthly Medicare Part B premium and the Mutual of Omaha Medigap Plan F monthly premium, there will be no out-of-pocket costs for medical expenses and care, which is why it is generally considered to be the best Medicare Supplement insurance plan available for people who enjoy the benefits of Original Medicare.

It should be noted that Medicare Supplement insurance policies only provide health insurance coverage for Medicare benefits available under Part A and Part B of the federal Medicare program, which means they do not cover prescription drugs. This is the case whether you choose United of Omaha/Mutual of Omaha insurance company or another health and life insurance provider.  It is also the case whether you choose Plans A through Plan C, Plan N, Medicare Supplement Plan G, Plan F or any other plan.

However, Medicare Part D or a separate prescription drug plan can be obtained. Medicare Part D provides Medicare benefits for prescription drugs. Medicare benefits also do not cover vision or dental expenses, and Medicare Supplement insurance therefore also does not provide benefits for these essential aspects of health care. Thus, it is important to compare plans before purchasing a Supplement policy, considering carefully the required benefits and costs.  

Also, be aware that there are some Medicare plans out there that do include prescription drug coverage and other costs outside of what Medicare pays for. These plans are not Supplemental insurance; instead, they are separate policies that actually replaced Medicare Parts A and B. Not all of them include prescription drug coverage, but some do. Compare this option for another way to save on doctor visits and other things beyond what Medicare covers.

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Does Mutual of Omaha Medicare Supplement Plan F have a network?

Unlike most Medicare Advantage plans, Medigap plans have no network or limitations on which doctors, clinics, or hospitals the beneficiary can use. Any health service provider that accepts Medicare can provide services that will be reimbursed by Mutual of Omaha under the Plan F benefits. This means that beneficiaries can consult experts and go to the top-rated best health clinics and receive their full benefits from Medicare Supplement plans.  

Mutual of Omaha Medicare Supplement Plan F Rates

Medigap plan rates vary by individual. Factors that influence the Medicare Supplement Plan F rates include the current residential address, the sex and general physical health of the beneficiary at the time of enrollment, and the age of the beneficiary. The effect of the age of the beneficiary on the Medigap Plan F rates varies depending on what method the insurance company uses to calculate their Medicare Supplement Plan F rates. 

There are three basic methods, attained-age, issue-age, or community rated. Attained age policies adjust your premium on the basis of your current age, and thus the premium tends to go up over time. Issue-age policies base your premium on your age at the time you first enroll in the policy, and thus your premium will be lower if you buy your Medigap Plan F policy at age 65 versus buying it at age 75. Community rated plans just charge everyone in the same geographical location the same premium regardless of their age; since Plan F is generally perceived as the best Medigap plan, it is extremely popular and thus insurance companies can reduce their premiums and maintain a fairly stable premium overtime for this insurance policy by spreading the costs over large numbers of beneficiaries who can then enjoy the benefits of Mutual of Omaha Plan F.

Thus, taking the above factors into consideration, the average Medigap Plan F premium varies from $159 to $236 but it can be considerably lower or higher depending on individual beneficiary factors. Beneficiaries should compare the plans offered by various insurance companies before enrolling in the best-rated one that provides the benefits they need at a cost they can afford.

Mutual of Omaha High Deductible Medicare Supplement Plan F

An alternative to Medigap Plan F is a high-deductible Plan F. It has all of the benefits and coverage provided by a regular Plan F, but none of the benefits are paid out until $2,490 of expenses are met each year, aka beneficiaries have to pay a yearly $2,490 deductible in addition to their Part B and Plan F premiums. This plan may be the most economical option for a senior who is generally healthy since a High Deductible Supplement Plan F premium is considerably lower than a regular Plan F premium. However, if something unexpected happens, such as hospitalization, the beneficiary will have to pay the deductible. It is important for seniors to carefully compare the benefits and also compare the potential costs of a high deductible plan to a regular plan.

Mutual of Omaha Medicare Supplement Plan F Reviews

Mutual of Omaha is generally rated as one of the best Medigap Plan F insurance companies by A.M. Best and others, offering the best Medicare Supplement Plan F. This insurance agency has a large number of customers enrolled in Plan F, and thus it can maintain low and stable premiums and provide full benefits. The company itself is very financially stable and provides excellent customer service, and it offers household discounts and other perks.

However, before buying a Medigap policy, seniors should carefully compare all of their options and compare the benefits they need with the costs they can afford. It is a good idea to consult an insurance agent with expertise in Medicare policies who can assist in performing these comparisons. There are many options to compare and consider, such as whether to enroll in a Medicare Advantage Plan or to enroll in Original Medicare Part A and Part B. 

After enrolling in Original Medicare, is it best to buy a Medigap policy, and if so, which of the many Medicare Supplement plans? Also, since Medicare Part A and Medicare Part B do not cover drug insurance costs, it may be best to enroll in Medicare Part D as well. These various plan options and their potential benefits and costs should be subjected to a careful comparison before the beneficiary makes a decision.

Although there is a good chance that Mutual of Omaha will be the best option for you — whether you’re shopping for Plan A, Plan N, Plan F or any other plan — you can also look for lower premiums from other companies like United World Life. We can help you with looking for affordable options so that you can enjoy the things that Plan F covers without paying an overly high premium and without having to worry about expensive rate increases. Use our website, or give us a call to find out more about your options.