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Equitable was founded in Utah in 1935, formed out of previous benevolent societies to become Equitable Life and Casualty Company. Their focus has been on life and accident insurance for seniors since the 1960s, when they also started writing Medicare Supplement and other senior-focused products. Equitable was among the first to offer insurance products that would come to be known as long-term care insurance.
Equitable continued to innovate, offering the first home care recovery plan options for seniors in the 1980s. In 2009 they expanded into Third Party Administration, handling the administration of policies for multiple other insurance companies. Many of those policies are the same sort of life and supplemental coverage that Equitable writes.
Today Equitable is licensed in nearly every state (45 states as well as the District of Columbia) and offers a full range of supplemental plans for seniors and others that include cancer care, short-stay nursing home coverage, life insurance, and of course, Medicare Supplement.
Equitable writes Medicare Supplement insurance plans to cover the gaps left by Original Medicare. They offer several policies to choose from based on the standard lettered plans. Currently they do not offer Medicare Advantage, not surprising for a company that focuses on supplemental coverage, nor do they write Part D Prescription Drug Coverage.
The available Medicare Supplement plans are A, F, N, and G. A is the basic plan that all Medicare Supplement insurers must offer and covers coinsurance for medical, hospital, and hospice as well as the first three pints of blood annually. This plan is generally the most affordable.
Equitable writes two other highly popular plans, F and N, as well as G, which is somewhat less common. There are several other plans in the standard system, but they are not offered. F is the plan that offers the most coverage, paying for deductibles, excess medical, and foreign travel emergency on top of the basics. While some companies off the high deductible version of Plan F, it appears Equitable does not.
In addition to the collection of Medicare Supplement plans on the letter system, Equitable offers a hospital program through partnership with USA Managed Care Program. This plan covers Medicare Part A deductibles, at least in part, for hospital care at participating hospitals. There is no charge for this program; it is offered for free to all Medicare supplement policyholders. This is a nice added value for Equitable customers to save a little more money on hospital stay costs, and is certainly a point for Equitable compared to similar companies.
Equitable does not provide online quoting, so we were unable to obtain any rate information. In order to get a quote, the company requires that you send in a request, and they will contact you in return. For many insurance shoppers, this may discourage pursuing a quote as it opens up the door to solicitation. The information form requires entering name, address, phone number, and email address.
Ratings and Reviews
Equitable has an A+ rating with the BBB and has been accredited since 1964. There are no complaints at all on record in the past three years. Considering the size of the company and their long history, this is very encouraging to see.
In fact, we were unable to locate much in the way of reviews of Equitable Life and Casualty; this is usually a good sign. Most people go online to review a company when they are angry or upset about something, so it is not unusual to see a lack of positive reviews. A lack of complaints is much more rare in the insurance world. We were not able to find any direct ratings or reviews of the Medicare Supplement plans specifically.
The Bottom Line
Equitable is a company very much focused on the needs of seniors and has a long and strong reputation in their niche insurance market. While we can’t compare them on rates due to the lack of online quoting, they do appear to be a solid choice for supplemental health insurance needs. If you don’t mind the risk of ongoing solicitation efforts, they are worth contacting for a rate quote.
For a list of companies that we recommend, visit our Best Insurance Companies page.