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AXA Starts a U.S. Health Insurance Website

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What You Need to Know

  • Benefytt is acting as the health insurance agency responsible for the sales.
  • AXA was formerly a major U.S. life, health and annuity issuer through Equitable.
  • AXA began to separate from Equitable in 2018 and reduced its stake in Equitable to less than 10% in 2019.

A U.S. arm of a French insurance giant is tiptoeing back into the U.S. life and health market.

AXA Partners US is marketing health insurance through Health Elect, a website that serves as a digital storefront for products distributed by Benefytt. Benefytt is the insurance agency responsible for the product sales.

For now, AXA Partners is focusing on offering short-term health insurance, limited-benefit medical indemnity insurance and Affordable Care Act major medical insurance.

The short-term health and indemnity policies offered through the site come from Standard Life and Accident Insurance, a subsidiary of American National.

The AXA Health Elect program will provide help through a call center Monday through Friday from 8 a.m. to 8 p.m. Eastern time.

The History

AXA is one of the world’s top insurers. The Paris-based company became the owner of Equitable, one of the biggest U.S. life, health and annuity issuers, in 1991.

AXA began to separate from Equitable in May 2018, by selling portions of Equitable stock to the public, because of concerns about new European and U.S. reporting rules that could make the results of life and annuity issuers look more volatile.

AXA’s stake in Equitable fell below 10% in December 2019.

Equitable sells group disability insurance, group dental and other products that are licensed as non-medical health insurance products.

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(Photo: Manuel Esteban/Shutterstock)