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Mutual of Omaha Medigap Review 2026: Four Companies, One Brand — State-by-State Report

By Anthony Orner, Licensed Medicare Insurance Broker · Data as of 2026-04-26

Mutual of Omaha Medicare Supplement policies are issued by one of four legally separate insurance companies under the Mutual of Omaha brand, depending on your state: Mutual of Omaha Insurance Company, United of Omaha Life Insurance Company, Omaha Insurance Company, or Omaha Supplemental Insurance Company. All four carry an AM Best A+ (Stable) financial strength rating.

The Mutual of Omaha brand has the highest name recognition of any Medigap carrier we cover. The pricing data does not match the brand reputation. Across every state we reviewed with current quote data, Mutual of Omaha Plan G is 38% to 64% more expensive than the cheapest Plan G in the same state for identical federally-standardized benefits. Recent rate increases of +19% to +30% have hit Mutual of Omaha policyholders in 2024-2025, with loss ratios still near or above 100% — meaning more rate pressure is likely.

Last reviewed: April 2026 · CSG Actuarial rate & market data

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Why Mutual of Omaha Has Four Companies (And Why It Matters)

When you receive a Mutual of Omaha Plan G or Plan N quote, your policy is issued by one of four legal entities depending on your state of residence. They share the Mutual of Omaha brand and the same A+ AM Best financial strength rating — but they have different NAIC company codes, different rate-filing histories, and different loss-ratio trajectories. The brand reputation is consistent across the family. The pricing and rate-history experience is not.

More importantly: the data is not flattering. Across every state we have current quote data for, Mutual of Omaha Plan G is the most expensive single carrier we cover in our reviews. The Texas premium of $213/month at age 65 is $83 above the cheapest Plan G in the state for the same benefits; over 20 years of attained-age increases that gap compounds into tens of thousands of dollars. The brand recognition does not translate to better coverage — all Medigap plan letters are federally standardized.

Loss ratios — claims paid divided by premiums collected — tell us why rates keep rising. When a carrier's loss ratio approaches or exceeds 100% in a state, they are losing money on that block of business and will file for a rate increase. Healthy policyholders shop around and switch out, leaving the sicker pool, raising the loss ratio further. Mutual of Omaha's loss ratios across the family are consistently 86%-97% in 2025 in our reviewed states despite three years of rate hikes. That suggests pricing has not caught up to claims experience and more increases are likely.

The Four Mutual of Omaha Medigap Companies

Mutual of Omaha Insurance Company

  • NAIC: 71412
  • Established: 1966
  • AM Best: A+ (Stable)
  • Issues Medigap in our review: Texas (and New Jersey, off-sample)

United of Omaha Life Insurance Company

  • NAIC: 69868
  • Established: 2008
  • AM Best: A+ (Stable)
  • Issues Medigap in our review: Pennsylvania

Omaha Insurance Company

  • NAIC: 13100
  • Established: 2012
  • AM Best: A+ (Stable)
  • Issues Medigap in our review: North Carolina

Omaha Supplemental Insurance Company

  • NAIC: 16537
  • Established: 2019
  • AM Best: A+ (Stable)
  • Issues Medigap in our review: Ohio
About attained-age pricing: Every Mutual of Omaha entity uses attained-age pricing. Your premium increases every year as you age, in addition to any filed rate increase. Over a 15-20 year Medigap tenure, attained-age pricing compounds dramatically versus issue-age or community-rated alternatives.

State-by-State Report Cards

Each card shows current Plan G premium for a 65-year-old female non-tobacco user, Mutual of Omaha's market rank, every filed rate increase in our data, and the loss-ratio trend. As of 2026-04-26 via CSG Actuarial.

Pennsylvania (PA)

Issued by United of Omaha Life Insurance Company (NAIC 69868)

Plan G @ 65 F
$208.62/mo
Market Spread
$137.68 – $295.51
Median $189.81 · 30 carriers
Mutual of Omaha Rank
24 of 30
+51.5% above cheapest Plan G

Filed Rate Increases (Pennsylvania, Plan G)

Effective DateFiled Increase
2022-06-01+3%
2023-06-01+5%
2024-05-15+12%
2025-06-01+19%

Loss Ratio Trend (Pennsylvania)

YearPolicyholdersLoss Ratio
202310,303124% ⚠
20249,39793%
202511,88896%

Loss ratio = claims paid ÷ premiums collected. Source: CSG Actuarial, as of 2026-04-26.

Our verdict for Pennsylvania: Four consecutive annual rate increases of 3% → 5% → 12% → 19% — each one larger than the last. Loss ratio peaked at 124% in 2023 and is back near 100% despite the hikes. Ranks 24 of 30 carriers; you're paying 51.5% above the cheapest Pennsylvania Plan G for identical benefits. Compare carriers before choosing.

New Jersey (NJ)

Issued by Mutual of Omaha Insurance Company (Medigap presence; not in our quote sample) (NAIC 71412)

Plan G @ 65 F
Not in sample
Market Spread
$147.88 – $260.98
Median $179.94 · 19 carriers
Mutual of Omaha Rank
—
Quote unavailable in sample

Filed Rate Increases (New Jersey, Plan G)

No rate increases on file with CSG for the Plan G product line in New Jersey as of 2026-04-26 (the entity has a small Medigap block in NJ but no recent state filings in our data).

Loss Ratio Trend (New Jersey)

YearPolicyholdersLoss Ratio
202387263%
202486877%
202559786%

Loss ratio = claims paid ÷ premiums collected. Source: CSG Actuarial, as of 2026-04-26.

Our verdict for New Jersey: Mutual of Omaha Insurance Company has a Medigap block in New Jersey (597 lives in 2025), but they do not appear in our flagship Cherry Hill ZIP 08002 quote sample at age 65 F non-tobacco — likely a pricing tier or rating-class issue. Loss ratio climbed from 63% (2023) to 86% (2025), a healthy-but-rising pattern. Call us at 855-559-1700 for a state-specific NJ Mutual of Omaha quote.

Ohio (OH)

Issued by Omaha Supplemental Insurance Company (NAIC 16537)

Plan G @ 65 F
$163.23/mo
Market Spread
$118.17 – $342.84
Median $164.49 · 34 carriers
Mutual of Omaha Rank
16 of 34
+38.1% above cheapest Plan G

Filed Rate Increases (Ohio, Plan G)

Effective DateFiled Increase
2024-04-01+6%
2025-04-01+30%

Loss Ratio Trend (Ohio)

YearPolicyholdersLoss Ratio
20236,489194% ⚠
20244,11283%
202516,23197%

Loss ratio = claims paid ÷ premiums collected. Source: CSG Actuarial, as of 2026-04-26.

Our verdict for Ohio: +30% rate filing effective April 2025 — the largest single-year filing in our review. The 2023 loss ratio of 194% (claims nearly double premiums) explains why. Membership shrank as healthy policyholders fled then exploded back when pricing reset. Currently ranks 16 of 34, costing 38% above the cheapest Plan G. Loss ratio at 97% in 2025 means the rebalance hasn't fully held — expect more pressure.

North Carolina (NC)

Issued by Omaha Insurance Company (NAIC 13100)

Plan G @ 65 F
$153.87/mo
Market Spread
$101.83 – $280.62
Median $147.50 · 31 carriers
Mutual of Omaha Rank
22 of 31
+51.1% above cheapest Plan G

Filed Rate Increases (North Carolina, Plan G)

Effective DateFiled Increase
2022-05-01+2.99%
2024-05-01+12%
2025-04-01+25.01%

Loss Ratio Trend (North Carolina)

YearPolicyholdersLoss Ratio
202317,727116% ⚠
202416,01892%
202522,50895%

Loss ratio = claims paid ÷ premiums collected. Source: CSG Actuarial, as of 2026-04-26.

Our verdict for North Carolina: Three rate filings in three years culminating in a +25.01% increase effective April 2025. The 2023 loss ratio of 116% triggered the cascade. Currently ranks 22 of 31 carriers; you're paying 51% above the cheapest NC Plan G. Membership grew despite the increases (16k → 22k) but loss ratio remains at 95% — more rate pressure likely.

Texas (TX)

Issued by Mutual of Omaha Insurance Company (NAIC 71412)

Plan G @ 65 F
$213.00/mo
Market Spread
$129.92 – $284.86
Median $179.97 · 28 carriers
Mutual of Omaha Rank
22 of 28
+63.9% above cheapest Plan G

Filed Rate Increases (Texas, Plan G)

Effective DateFiled Increase
2023-07-01+5%
2024-04-15+12.5%
2025-06-15+25%

Loss Ratio Trend (Texas)

YearPolicyholdersLoss Ratio
202342,924103% ⚠
202437,89395%
202565,63897%

Loss ratio = claims paid ÷ premiums collected. Source: CSG Actuarial, as of 2026-04-26.

Our verdict for Texas: Worst value in our review. Mutual of Omaha Plan G in Texas is 63.9% more expensive than the cheapest Plan G ($213 vs $130) — for identical federally-standardized benefits. The +25% filing effective June 2025 followed +12.5% in 2024 and +5% in 2023, an escalating cadence. Loss ratio still at 97% in 2025 despite the hikes. The Texas Medigap market has 28 carriers; Mutual of Omaha ranks 22nd. Strongly compare alternatives.

Plan G and Plan N with Mutual of Omaha

Mutual of Omaha offers Plan G, Plan N, and High-Deductible Plan G across most of its state footprint. Because all Medigap plan letters are federally standardized, a Mutual of Omaha Plan G covers the same services as any other carrier's Plan G. The only differences are premium, rate-increase history, and the underlying legal entity issuing your policy.

Mutual of Omaha's competitive advantage isn't price — the data shows they consistently price well above the state-by-state market low. Their advantage is brand recognition, A+ financial strength, and a household discount that varies by state (typically 7-12% when both spouses enroll). For consumers who value the brand and are willing to pay 38-64% above the cheapest carrier for the same benefits, Mutual of Omaha is a defensible choice. For shoppers comparing on cost and rate stability, the data points elsewhere.

How to Apply for Mutual of Omaha Medigap

Because Mutual of Omaha's pricing is consistently above the state-by-state Plan G cheapest, we recommend running a full multi-carrier comparison before choosing. If after seeing the alternatives you still prefer Mutual of Omaha for the brand recognition and A+ rating, that's a defensible choice — but make it with full visibility into what you're paying versus the available options.

Applying online at healthplans.now takes most people under 15 minutes and compares Mutual of Omaha alongside every other carrier in your area. Federal law gives you a 30-day free look period after any Medigap policy is issued; you can review and cancel for a full refund of premium paid.

Compare & Apply at healthplans.now →

Frequently Asked Questions

Questions About Mutual of Omaha Medigap? Talk to a Licensed Broker — 855-559-1700

Data sources & methodology. All carrier rates, filed rate increases, and historical loss-ratio data on this page are sourced from the CSG Actuarial API as of 2026-04-26. Loss ratios are computed from CSG's state-level market data (claims ÷ premiums per state per year). Current Plan G premiums reflect a Female 65 non-tobacco applicant at a flagship ZIP in each state (Philadelphia 19103, Cherry Hill 08002, Cleveland 44101, Charlotte 28202, Houston 77002). Rates in smaller ZIPs may differ.

Disclosure. This page is published by MedicareYourself, a brand of EasyKind Medicare. We are a licensed independent Medicare insurance broker. We do not offer every plan available in your area. Any information we provide is limited to the plans we offer in your area. Please contact Medicare.gov or 1-800-MEDICARE (TTY 1-877-486-2048), 24 hours a day, 7 days a week, to get information on all of your options. Plan availability, plan letters, and premiums vary by state and are subject to state Department of Insurance rate filings.

Medicare has neither reviewed nor endorsed this information. 2026 Medicare figures: Part B premium $202.90/month, Part B deductible $283, Part A deductible $1,676.