Equitable Life Medicare Insurance Review & Complaints: Life & Health Insurance (2024)

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Utah-based Equitable Life started out as a mutual aid society and has since become an insurance company focused on the needs of seniors. Their products include life insurance and supplemental health insurance policies including Medicare Supplement.

This Equitable Life Medicare insurance review will cover the Medicare plans available from Equitable, how to get an Equitable Life Medicare insurance quote, and how they stack up in the ratings.

Equitable Life was purchased by SILAC, Incorporated and is transitioning to a new name. The company currently doesn’t offer Medicare plans.

If you can’t buy Equitable Life Medicare insurance right now, you can check rates with other companies. You can do that here by entering your ZIP code right now in the tool above.

What is Equitable Life?

Equitable Life has its roots in a group of benevolent societies created by a Utah doctor to help families of miners deal with funeral expenses. In 1935 Dr. Roderick Earl “Doc” Ross officially founded the Equitable Mutual Aid Protective Society, which came to be classified as an insurance company under a law enacted that same year.

The creation of Medicare in the 1960s moved the company into the senior-focused insurance market. They added Medicare Supplement insurance to their product lineup, and the following decade began offering long-term care coverage as well. In the 1980s another senior insurance program was added, a home care recovery plan.

In 2009 Equitable Life & Casualty entered the third-party administration market, and this makes up a good portion of their business today.

Equitable offers its health and life products in 45 states as well as the District of Columbia. Products are sold through independent agents, and the company maintains its headquarters in Salt Lake City, Utah.

What Are Equitable Life Medicare Supplement Plans?

UPDATE: According to the Equitable Life website, the company is currently not offering Medicare Supplement plans.

Equitable calls their Medicare Supplement Plans EquiChoice, but they follow the standardized letter-coded plans that are in use in most states.

Of the eleven possible standardized plans, Equitable offers four. This is not a lot of options but includes both Plan A and Plan F. Plan A is the base plan that all insurance companies have to offer if they are offering Medicare Supplement at all. It covers all Medicare Part A & B coinsurance amounts and the first three pints of blood each year.

Most companies also choose to offer Plan F, which has the most coverage of any available option, essentially paying all out-of-pocket expenses not covered under Original Medicare. This makes it the most expensive plan in most cases. There is a high deductible version of Plan F that offers a lower monthly premium, but Equitable does not offer this option.

Equitable Life Medicare Supplement Plan F is not available to those newly eligible for Medicare as of January 2020.

They also offer Plan N and Plan G. Plan N has copays for some services, which results in a lower premium. This sometimes makes Plan N more affordable than Plan A.

What Are Equitable Life Medicare Insurance Rates?

Online quoting is not offered and there is not a rate chart available for Equitable’s Medicare Supplement plans to get an estimate on the cost. The “Get a Quote” action button on Equitable Life’s site leads to a contact form that will likely result in solicitation from an agent.

While this is not surprising for this type of company, it may drive away some potential customers that want to obtain rates without dealing with solicitation attempts for a contract. However, for potential customers with questions pertaining to rates or coverage, it may be considered a plus.

Equitable Life Medicare Claims Process

Ease of Filing a Claim

Equitable Life Medicare insurance offers various ways for policyholders to file a claim, ensuring convenience and flexibility. Policyholders can file claims through online channels, over the phone, or by using mobile apps. This multi-channel approach allows customers to choose the method that suits them best, making it easier to navigate the claims process.

Average Claim Processing Time

The average claim processing time is a critical factor in assessing the efficiency of an insurance provider. Equitable Life Medicare insurance strives to provide timely claim processing to ensure that policyholders receive their benefits as quickly as possible.

While specific processing times may vary depending on the nature of the claim, the company’s commitment to efficient service is evident in its operations.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback plays a vital role in evaluating the overall satisfaction of policyholders with Equitable Life Medicare insurance. Understanding how the company handles claim resolutions and payouts is essential for potential customers.

By analyzing customer reviews and testimonials, we can gain insights into the experiences of policyholders and assess the insurer’s performance in this crucial aspect.

Digital and Technological Features of Equitable Life Medicare

Mobile App Features and Functionality

Equitable Life Medicare insurance offers a mobile app designed to enhance the customer experience. This section will explore the features and functionality of the app, including its user-friendliness, accessibility, and the range of tasks it allows policyholders to perform on their mobile devices. A well-designed app can simplify account management and claims processing for users.

Online Account Management Capabilities

Online account management is a key feature that modern insurance companies provide to their customers. Equitable Life Medicare insurance offers online account management capabilities, allowing policyholders to access their accounts, view policy details, make payments, and more through a web-based platform.

This section will delve into the convenience and effectiveness of these online tools.

Digital Tools and Resources

In today’s digital age, insurers often provide additional digital tools and resources to assist their customers. This section will explore any digital resources offered by Equitable Life Medicare insurance, such as educational materials, calculators, and online resources to help policyholders make informed decisions about their coverage.

Digital tools can empower customers to better understand and manage their insurance policies.

What Are Equitable Life Ratings and Consumer Reviews?

Equitable has been Better Business Bureau (BBB) accredited sin 1964, and they have an A+ rating. There are only four complaints on file in the past three years, which is low for any company, even a smaller one.

We did not find other reviews or complaints from consumers on any of the usual websites. In general, a lack of reviews denotes a good reputation, since people are generally more motivated to write reviews when they are dissatisfied, particularly in the insurance industry.

Equitable Life Medicare Insurance: What’s the Bottom Line?

Equitable has been around for a long time, and there are no red flags in terms of their reputation. They do not offer a big selection of Medicare supplement plans, however, and we are unable to compare them in terms of rates. While there no evidence of anything negative here, there is not a lot that makes Equitable stand out as a life insurance company, either.

Affordable Equitable Life Medicare insurance may be available to you, but you should still shop around. Compare rates today. Just enter your ZIP code in the box below to get started.