Equitable (almost) Calls it Quits in Medicare Supplement Market

[goillini52]

Well my bad...changed the title for you.

Hahaha, that title was a bit misleading Justin. You about gave me a heart attack.

 

[Justin Bilyj]

Hahaha, that title was a bit misleading Justin. You about gave me a heart attack.

It still sucks what the company is doing and for some states where the new Equitable isn't registered, it might as well be the truth..

 

[goillini52]

It still sucks what the company is doing and for some states where the new Equitable isn't registered, it might as well be the truth..

I don't have the new one available yet, sometimes they still fit but they haven't been competitive for a while. I've been looking forward to the new one.

 

[somarco]

If they are paying a lower rate, they must be considered a new block of business.

Brand new block.

If you were already with Equitable as of August last year, you should have Equitable National available now. However, they said you should call to verify that!

When they split with Ritter (or vice versa) Equitable sent me a Dear John letter. Had to sign new paper work with them to get a new writing number. That new number also allowed me to log in and see some of what they were doing with my existing clients.

They have not been competitive in GA for almost a year.

Equitable National is not approved here yet.

I like the POS PHI with a decision before I go.

You leaving us?

 

[goillini52]

You leaving us?

No, hahaha...good one. Thanks to bacon, I think I'll be around to annoy everybody for a few more years.

 

[somarco]

Thanks to bacon, I think I'll be around to annoy everybody for a few more years.

Gotta make more bacon

 

[Northeast Agent]

Equitable National just sent out an email about upcoming rate adjustments effective 2/1/19 in a dozen states.

The big ones are:

A & F 9% increase in IN, KS, MD
A, F & G 9% increase in KY
F 7% increase in MI
A & F 8% increase in NE
A & F, 9% increase and 6% increase on G in OH, TX & WV
F 7% increase in PA
A & F 9% increase and 8% on N in SD
A & F 8% increase in UT

 

[somarco]

Deja vu all over again

 

[Northeast Agent]

I ony have two clients with them (G, in PA). But my uncle will flip out about the piddling 2% increase. His wife is difficult to move as she's on several diabetic and HBP meds.

I'll have to look at Aetna to see if they're cheaper or they are SOL. And they HAVE to have the household discount! Bankers Fidelity rates are sky-high, so they're out...

 

[Newby]

My wife and I got notices of rate increases effective July 1.....

Question? Neither of us could qualify for underwriting at this time... If we switch to a med advantage plan this fall (first time med adv.) does that me we will have a GI period that we can switch to any company's med supp since Equitable would no longer be available?

Don't count on it. If the company will accept you back (which they often do even if the product is no longer on the market for sale) then the other companies will refuse to issue. They will require a letter from the original companies stating that they will not re-issue your policy.