Aflac Launches New Group Hospital Indemnity Product
Plan offers maximum flexibility for employers to meet unique needs of their employees
COLUMBUS, Ga., March 16, 2016 /PRNewswire/ -- Aflac, the leading provider of voluntary insurance at the work site in the United States, announced today the launch of its newest product, Group Hospital Indemnity. Designed to provide flexible coverage for both routine medical care as well as catastrophic illnesses and accidents, this product will help employees pay out-of-pocket costs that major medical was never intended to cover. The new product was introduced in 40 states throughout January. A key feature of the new product is the ability to customize coverage with three plan levels and multiple optional benefit categories. With this flexibility, each employer can offer a plan designed to best complement their major medical plan and pay cash benefits to employees to help them cover out-of-pocket expenses on a case-by-case basis. Other enhancements such as no pre-existing condition limitations, no termination age, first-child coverage included, simplified surgical benefits and a two-year rate guarantee are now standard product benefits. Plus, employers can build HSA-compatible plans, if desired. "With health care costs continually being shifted to employees, many Americans are financially unprepared to cover the costs of a major accident or illness," said Dan Lebish, executive vice president and chief operating officer at Aflac Group. "Aflac's Group Hospital Indemnity product demonstrates our continued dedication to meeting the evolving needs of our customers. By enhancing employees' current benefits, employers can help their workforce avoid taking funds out of savings or borrowing money when unexpected medical expenses arise." In addition to Hospital Confinement, Admission and Intensive Care benefits, the base hospitalization plan will include an intermediate intensive care step-down unit benefit, which is payable for each day an insured is confined in an intermediate intensive care step-down unit because of a covered accidental injury or sickness. The Aflac Group Hospital Indemnity plan also will give employers the option to include the following:
"Just one hospital stay can devastate an employee and his or her finances," Lebish added. "It's a simple fact, but it's one that underscores the importance of hospital indemnity insurance and the financial protection it can provide when the unexpected occurs." To learn more about Aflac's Group Hospital Indemnity product, visit aflacgroupinsurance.com. ABOUT AFLAC Media contact – Kristen Fraser, 706.243.5543 or mediarelations@aflac.com Analyst and investor contact – Robin Y. Wilkey, 706.596.3264 or 800.235.2667, FAX: 706.324.6330, or rwilkey@aflac.com
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