Mutual of Omaha Enters Medicare Advantage Market

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Mutual of Omaha, an insurance company offering Medicare Supplement plans, will begin sellingMedicare Advantage plans across the country.

Under a partnership with Lumeris, an advanced analytics and predictive modeling company, Mutual of Omaha will offer a Medicaid Advantage plan with prescription drug coverage beginning in 2019.

"Our entrance into the Medicare Advantage market represents a significant step forward for Mutual of Omaha as we strive to respond to customer needs and offer a meaningful suite of senior health solutions," said Mutual Chairman and CEO James Blackledge.

Under the agreement, Mutual of Omaha will own and carry the name of its new Medicare Advantage plans, while Lumeris will help the insurance company establish networks and evaluate markets. A committee comprising Mutual and Lumeris leaders will govern the Medicare Advantage plans.
 
"Lumeris also will help identify metropolitan statistical areas — yet to be selected — where the new plans can compete for significant market share."

Buechler said the plans will have “narrow” networks, meaning clients will choose from limited numbers of physicians, hospitals and other care providers. Such managed care networks are designed to reduce costs while improving efficiency and medical outcomes.
 
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