Humana Medigap Insurance Reviews – Consumers generally have options when purchasing Medicare supplement plans, also known as Medigap. In some areas, there may be several different insurance companies selling this type of policy, each offering their own pricing, plan choices, and incentives.
Medicare Supplement Insurance Company Comparison In many areas, buyers may have Humana vs. Mutual of Omaha”.
Humana Medigap Insurance Reviews
In this review, we’ll compare the Medicare Supplement plans offered by each company to help you decide which carrier best suits your needs.
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Omaha’s financial strength is rated A+ by mutual A.M. Best and Standard & Poor’s and A1 from Moody’s. The company has a consumer affairs rating of 3.8 out of 5 stars and is accredited by the Better Business Bureau with an A+ rating.
Humana’s financial ratings from leading credit agencies include BBB+ (Standard & Poor’s), BBB (Fitch Ratings), BBB- (AM. Best) and Baa3 (Moody’s).
Consumer Affairs rates Humana 4.0 out of 5 stars, and the company is accredited by the Better Business Bureau with an A+ rating.
Most states have 10 standard Medicare supplement insurance plans, and the federal government standardizes the benefits of each plan type. Aside from any enrollment incentives (which we’ll discuss later), Humana’s Plan A offers the same coverage as Mutual of Omaha’s Plan A. And that’s true for any plan with the same acceptance letter.
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1. Plans C and F are not available to new beneficiaries who became eligible for Medicare in 2020. January 1 or later. 2. Plans F and G also offer a higher plan deductible, and in 2024 the annual deductible is $2,800. After paying the annual deductible, the plan pays 100% of covered services for the remainder of the year. The high deductible for Plan F is not available to new beneficiaries who became eligible for Medicare in 2020. January 1 or later. 3. Plan K has an annual limit of $7,060 in 2024. Plan L has an annual limit of $3,530 in 2024. 4. Plan N pays 100% of Part B coinsurance, except up to $20 for certain office visits and $50 for emergency room visits. Regarding admission to a hospital. View the image version of this table.
Humana offers a wide selection of plans that include eight out of 10 policies. Humana Medigap plan options include Plans A, B, C, F (and high-deductible F), G (and high-deductible G), K, L, and N. However, it’s important to note that not every plan will be available in all locations.
Mutual Omaha’s Medigap plan, slightly smaller than what Humana offers, includes Plans A, F (and high-deductible Plan F), G (and high-deductible G), and N.
Please note that not all plans are available in all locations. You can compare local plan availability to find the best Medigap plan option.
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Humana and Mutual of Omaha may set the prices for their Medicare supplement insurance plans. When you compare plans, you may notice differences in premiums for the same plan in the same location sold by two different companies.
The table below shows a price comparison between Humana and Mutual of Omaha for Medicare Supplement Plans F, G, and N in select cities.
These sample premiums are taken from the Medicare.gov Plan Finder Tool for 2023. October month. For the 2024 plan year and applies to a 65-year-old woman who is a non-tobacco user and lives in the zip codes below. This is not a complete list of plans available in every zip code.
Plan premiums vary and may vary where you live, and there may be more, fewer, or different plans where you live. Contact a licensed insurance agent or compare plans online to find local options.
Best Medicare Supplement Plans
As you can see from the table above, Mutual of Omaha generally has lower Medicare premiums than Humana, although this may not apply to every plan in every location.
Medicare supplement coverage is standardized, but some insurance companies may add additional incentives for enrollees.
Humana Medigap plans offer many benefits, including a fitness club membership, discounts on vision, hearing and prescription drugs, and a 24-hour nurse line. Humana also offers Medigap plans that include coverage for basic vision and dental coverage, usually for a small fee with no plan premium.
In some states, Mutual of Omaha offers a fitness program membership as an optional benefit with its Medicare supplement insurance plans called Mutually Well. In some states, plans may offer discounts on healthy lifestyle products and general vision and hearing care.
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Humana and Mutual of Omaha are the two leaders in Medicare supplement insurance, and for good reason. Both companies offer a variety of optional plans with attractive enrollment incentives backed by strong consumer and financial ratings.
Ultimately, it’s hard to go wrong with Humana or Mutual of Omaha. A licensed insurance agent can help you review the plan options offered by both companies in your area to determine the best Medicare Supplement insurance policy for you and your unique needs.
Tranzact is owned and operated by Tranzact, a parent company of TZ Insurance Solutions LLC, which owns/operates Medicareadvantage.com and is listed on other websites and has financial relationships with some of the carriers listed. This may affect which products we write about, but editorial independence is maintained and our opinions and judgments are our own.
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UnitedHealthcare and Humana are the two largest health insurance companies in the United States.