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Everence was founded in 1945 by the Mennonite Church as Mennonite Mutual Aid (MMA), a financial services organization offering loans to church volunteers and other members of the faith. They expanded into insurance shortly thereafter, offering hospital and burial aid as well as auto insurance, which they stopped selling in 1998. In 1966, they organized MMAA, a fraternal benefit society that provided a range of personal insurance plans to members.
In 2009, a group of Mennonite credit unions were joined under the name Mennonite Financial. The following year MMAA and Mennonite Financial together became Everence.
Initially open only to Mennonites, Everence expanded over the years to accept members of similar Anabaptist denominations, including Amish and Brethren in Christ. A full list of qualified denominations can be found on the Everence website. Members receive discounts on a variety of services, benefits such as a $1000 Accidental Death policy, and access to college scholarships.
Today Everence offers a full range of banking services, investments, and insurance products, including Medicare Supplement insurance. Medicare Supplement is available in 20 states: Arizona, California, Colorado, Delaware, Florida, Idaho, Iowa, Illinois, Indiana, Kansas, Maryland, Michigan, Montana, Nebraska, Ohio, Oklahoma, Oregon, Pennsylvania, South Dakota, and Virginia.
Medicare Supplement Plans
Although Everence has offered Medicare Advantage in the past, they currently write only Medicare Supplement policies. They offer a range of different standard Supplement plans, which differ from state to state.
In California, our sample state, Everence offers four of the lettered plans. These options are not listed on the website, but can be obtained by running a simple online quote.
The options are A, F, G, and N. The website states that they offer between three and six choices in each state, putting California in the middle of that range with four choices.
The available options are among the most popular of the standard plans, including the required Plan A. A is a basic plan that covers coinsurance for hospital, medical, and hospice as well as three pints of blood every year. Plan F offers the most coverage, paying for all coinsurance, deductibles, and other out of pocket costs, as well as foreign travel emergency. The other two plans land somewhere in between, allowing consumers to strike a balance between cost and coverage.
Everence has a simple online quoting tool that requires only basics – zip code, birthdate, and gender – to provide a rate quote. We ran our standard sample through their system and returned rates that we found surprisingly high.
Plan A, the most basic of the plans, came back at $164.23, which is double the lowest rate we have found for this same plan. Plan F was quoted at $191.66, which is more in line with other companies’ rates, but still a good $30 above the lowest we have seen for this plan.
Plan G was quoted at $178.96, and Plan N at $132.63. This last quote came in surprisingly low considering that the other rates were on the high side across the board. Overall, we found Everence rates to be among the highest we have seen, particularly for the most popular plans.
Ratings and Reviews
Everence has an A+ rating with the Better Business Bureau, and there are currently no complaints on file in the past three years against the company.
We weren’t able to locate any reviews of the company on any of the regular consumer websites; this is likely due to two factors: the smaller size of Everence compared to other insurers, and its status as a religious fraternal organization. Members of such organizations are less likely to turn to the internet to leave a negative review.
We were able to find one incident several years ago in which Everence came under fire by the U.S. Department of Health and Human Services for excessively high rate increases. The story seemed to find the increase to have been a calculation error. This was the only negative information uncovered in our research.
None of our research uncovered any reviews or information directly related to Medicare Supplement insurance.
The Bottom Line
Everence is an option for those who are followers of the specific Christian faiths listed as potential members of the organization. For those who fit into that category, and for whom a faith-based insurance company is an important consideration, the higher rates charged by Everence might well be worthwhile. However, if rates are a prime consideration they are certainly lower elsewhere.
For a list of companies that we recommend, visit our Best Insurance Companies page.