by Russell Noga | Updated June 23rd, 2023
Millions of Americans rely on Medicare for their health insurance, and there are many different choices when it comes to supplementing coverage.
The government-sponsored health insurance program is intended for individuals who are aged 65 and older, as well as those who have been diagnosed with qualifying chronic conditions and disabilities.
While Medicare does cover a lot of healthcare expenses, it doesn’t cover everything, and beneficiaries are responsible for the remaining expenses.
These out-of-pocket costs can be exorbitant and for many, can cause serious financial strain. To help fill in the gaps in Medicare coverage, many rely on Medicare Supplement Insurance. These policies are provided by private health insurance companies, like Equitable.
If you’re shopping for Medicare Supplement Insurance and you’re considering Equitable as your provider, before you make your final decision, keep on reading.
In this guide, we provide an overview of Equitable Medicare Supplement Insurance, including information about the health insurance company, as well as the plans they offer.
Compare 2024 Plans & Rates
Enter Zip Code
What is Medicare Supplement Insurance?
Medicare Supplement Insurance – also known as Medigap – is separate health insurance that, as the name indicates, is designed to supplement Original Medicare.
In other words, it doesn’t replace Original Medicare but instead, it works in conjunction with the government-sponsored health insurance program by filling in the gaps in coverage that aren’t covered by Medicare Part A and Part B; coinsurance, deductibles, and copays, for example.
There are a total of 10 Medicare Supplement Insurance plans, which are identified by letters, including Plans A, B, C, D, F, G, K, L, M, and N.
These plans are sold by private health insurance companies and the benefits offered vary; some Medigap plans cover the basics, while others offer more comprehensive coverage. The benefits that all plans offer are standardized, which means that the same lettered plans must offer the same benefits, no matter the location or the insurer.
In order to be eligible for Medicare Supplement Insurance, you must be enrolled in both parts of Original Medicare.
Because Medigap is separate insurance, there are separate monthly premiums that must be paid. Insurance companies set their own rates, and prices vary and depend on several factors, such as the insurer, the plan you’re applying for, your age, your gender, and your location.
Founded in 1859, Equitable is a leading American financial services and insurance organization that offers a variety of investment and insurance products. The company has gone through several mergers and name changes over the course of its 160-year history.
Presently, the company is a subsidiary of Equitable Holdings, Inc. Despite the changes the organization has experienced, it has been a leader in the insurance market for over a century.
Of the many products Equitable offers, Medicare Supplement Insurance plans are among the most popular.
Millions of Medicare beneficiaries rely on the Medigap policies that Equitable offers to fill in the gaps in Original Medicare coverage and make the cost of their healthcare more affordable. Equitable has a strong financial standing and is highly regarded for offering quality products and reliable customer service.
What Medicare Supplement Insurance Plans Does Equitable Offer?
Equitable offers several Medicare Supplement Insurance plans. Options include:
- Medigap Plan A. Of all the Medicare Supplement Insurance plans, Plan A offers the most basic coverage. It covers the cost of Part A coinsurance and hospital expenses and the first three pints of blood required for medical procedures.
- Medigap Plan C. Plan C is considered one of the more inclusive Medicare Supplement Insurance policies. It offers the same benefits as Plan A, as well as coverage for the Part A and Part B deductible, Part B copayments, and emergency care while traveling abroad. This plan is only available to individuals who became eligible for Medicare before January 1, 2020.
- Medigap Plan F. Plan F offers the most exhaustive coverage. It includes all of the benefits that Plan C offers, as well as coverage for the Part B excess charges. Like Plan C, Plan F is only available to beneficiaries who became eligible for Medicare before January 1, 2020.
- Medigap Plan G. Plan G is considered the most comprehensive Medicare Supplement policy for all Medicare beneficiaries. It offers all of the same benefits as Plan F, except the Part B deductible. Anyone can purchase this plan, regardless of when they became eligible for Medicare benefits, as long as they’re enrolled in Part A and Part B.
- Medigap Plan N. Plan N offers the same benefits as Plan G, except for the Part B copayments and excess charges. Monthly premiums are lower, but you’ll need to cover copays, which can cost up to $20 per office visit and up to $50 per emergency room visit. This is a good option for individuals who are in good health, don’t require a lot of medical care, and are looking for a Medigap plan with lower monthly premiums.
How Much Does Equitable Medicare Supplement Insurance Cost?
As mentioned above, the private health insurance companies that offer Medicare Supplement Insurance set the rates for the policies they offer. That said, the cost of an Equitable Medigap plan varies and depend on several factors, including:
- Your age
- Your location
- The plan you are applying for
- When you enroll
- Your health
- Your sex
- If you smoke cigarettes or use tobacco products
It’s important to note that in some locations, Equitable does offer household discounts, which can help to lower the cost of monthly premiums.
Compare 2024 Plans & Rates
Enter Zip Code
When to Enroll in Equitable Medicare Supplement Insurance
You can purchase Equitable Medicare Supplement Insurance at any time, as long as you are enrolled in Medicare Part A and Part B. The ideal time to enroll, however, is during the Medigap Open Enrollment period. During this 6 month period, which starts on the first day of the month you turn 65, insurance companies cannot consider the current state of your health or your medical history when assessing your application. As such, you are guaranteed coverage and your premiums will be lower.
Frequently Asked Questions
What is Equitable Medicare Supplement Insurance?
Contact Us for a Free Consultation on Medigap Plans
If you have questions about Medicare Supplement plans, call our team at 1-888-891-0229. We offer professional advice on Medigap policies. Our fully licensed agents offer free consultations to give you all the information you need about Medigap. If you want someone to call you back, leave your details on the contact form, and we’ll get a Medigap expert to reach out to you.
Russell Noga is the CEO and Medicare editor of Medisupps.com. His 15 years of experience in the Medicare insurance market includes being a licensed Medicare insurance broker in all 50 states. He is frequently featured as a featured as a keynote Medicare event speaker, has authored hundreds of Medicare content pages, and hosts the very popular Medisupps.com Medicare Youtube channel. His expertise includes Medicare, Medigap insurance, Medicare Advantage plans, and Medicare Part D.