At this time, Equitable is not offering any of the following products for sale; but we have provided information for our existing policyowners as a reference.
If you are interested in learning more about these products, please contact us and we will review the options that may be offered by one of our affiliate insurance carriers.
Medicare is a federal government health care program enacted in 1965. Often referred to today as "Original Medicare," the program is primarily set up to provide medical expense coverage to persons over age 65. The Medicare program is administered by the Centers for Medicare and Medicaid Services (CMS), which is a division of the U.S. Department of Health and Human Services. The Medicare program is divided into two parts: Part A, for hospital and skilled nursing facility expenses... and Part B, for medical expenses such as doctor, outpatient facility and home health care charges. Each part has its own set of deductibles, co-payments and pre-approved charges, which normally change each year.
Does Medicare cover all costs?
Most, but not all. There are certain co-payments and deductibles you must pay. Medicare pre-assigns allowable charges for all kinds of illnesses, surgeries and procedures. When the cost of a medical procedure is more than Medicare's 'approved' charge, you have to pay the difference. This is why there are private insurance options, like Medicare Supplement Insurance, to help pay for the expenses Medicare does not cover.
If you have a Medicare Supplement policy with Equitable, please click on the link below to learn more about the USA Managed Care Organization and to find a participating hospital in your area.
Life insurance is designed to protect against the financial risk associated with your death. It may also help you provide to your loved ones the financial resources and security you want for their future. Think of the common needs associated with the purchase of life insurance: mortgage and debt protection, funds to pay any final expenses (medical and/or funeral) or estate taxes, income for your spouse and family, the care of a child with 'special needs,' or perhaps the funding needed for the education of a child or grandchild. If these are concerns in your life, then a life insurance policy may be something you should consider.
Cash Benefit Plans
Cash Benefit Plans, as we like to call them at Equitable, are legally recognized as limited benefit or supplemental insurance coverages. Because Cash Benefit Plans are primarily considered to be supplemental insurance, the benefits these plans pay are most always paid in addition to any other insurance, including Medicare. Most, if not all, individual and group major medical plans 'coordinate' benefits with other insurance; even long-term care policies coordinate with Medicare, meaning that if Medicare pays for covered services then the policy will not pay benefits for the same covered services.
Therein is the beauty of Cash Benefit Plans. Unlike Medicare and Medicare Supplement insurance, where benefits are usually assigned to the providers, the benefits from Cash Benefit Plans are not paid to the hospital, the doctor or the nursing home - they are paid directly to the policyowner to use however and for any purpose they see fit. Yes, they can help to reimburse for those deductibles and co-pays not covered by insurance; but Cash Benefits Plans are not designed primarily for that purpose.