Mutual of Omaha just announced the sale of their Medicare Advantage plan to Essence Healthcare. You can find more information in the announcement below from Mutual of Omaha.
Today we are announcing that Mutual of Omaha has reached an agreement in principle for Essence Healthcare, the sister company of Lumeris, to acquire Mutual of Omaha’s Medicare Advantage plans.
Since 2018, Mutual of Omaha and Lumeris have forged a strong relationship, collaborating with healthcare providers in five select markets to introduce Medicare Advantage plans that bring together payers, providers and patients.
As we evaluated our enrollment experience and changing market dynamics, we determined that an acquisition of our Medicare Advantage plans by Essence Healthcare is in the best interest of our customers, our networks and our company.
This change in ownership will allow our current MA policyholders to benefit from Essence Healthcare’s longstanding reputation for providing high-quality, affordable plans, while also ensuring a smooth and seamless transition for our customers by offering the same core plan functions. This also allows Mutual of Omaha to take a step back and reassess the company’s strategic approach to MA, as we seek to meet the holistic healthcare needs of senior consumers.
Mutual of Omaha will work with Essence on a definitive sale agreement over the coming months and we expect the transaction to be completed mid-year.
There are no immediate changes for you and your distribution. We will continue to keep you updated as the change in ownership becomes finalized. For now, it’s business as usual.
It’s important to note Mutual of Omaha remains firmly committed to meeting the healthcare needs of senior consumers. We have been a leading provider of Medicare supplement insurance for more than 50 years and we will continue to offer Med Supp, dental and vision coverage, as well as our new Medicare Part D prescription drug plans.
Attached you’ll find a MA-Frequently Asked Questions to help answer some of your questions. Please feel free to reach out should you have any additional questions. Thank you for your ongoing support as we work to ensure a smooth transition.