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:
- Building Benefit – This rider automatically increases
the benefit amount of some of the base hospitalization plan
benefits at each anniversary for five years, with no change in
premium or additional underwriting. This feature was developed as a
way to reward customers for their long-term commitment to the
company.
- Treatment Benefits – Treatments covered under this
benefit include outpatient doctor's visits, telemedicine services,
diagnostic exams, emergency room visits, prescription drugs and
rehabilitation facility care associated with a covered accidental
injury or sickness.
- Surgery and Anesthesia Benefits – This benefit is
payable for each day that, due to a covered accidental injury or
sickness, an insured has an inpatient surgical procedure while
hospitalized or an outpatient surgical procedure performed by a
doctor in a doctor's office or urgent care facility.
- Health Screening Benefit – Payable once per year, this
benefit when included covers health screenings performed as the
result of preventive care, including tests and diagnostic
procedures ordered in connection with routine examinations, such as
blood tests for triglycerides or certain types of cancer, vision
tests, chest X-rays and immunizations.
"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
When a policyholder gets sick or hurt,
Aflac pays cash benefits fast. For six decades, Aflac insurance
policies have given policyholders the opportunity to focus on
recovery, not financial stress. In the
United States, Aflac is the leading provider of voluntary
insurance at the worksite. Through its trailblazing One Day
PaySM initiative, Aflac U.S. can receive, process,
approve and disburse payment for eligible claims in one business
day. In Japan, Aflac is the
leading provider of medical and cancer insurance and insures one in
four households. Aflac individual and group insurance products help
provide protection to more than 50 million people worldwide. For 10
consecutive years, Aflac has been recognized by Ethisphere as one
of the World's Most Ethical Companies. In 2016, Fortune magazine
recognized Aflac as one of the 100 Best Companies to Work For in
America for the 18th consecutive year and included Aflac on its
list of Most Admired Companies for the 15th time, ranking the
company No. 1 in innovation for the insurance, life and health
category for the second consecutive year. In 2015, Aflac's contact
centers were recognized by J.D. Power by providing "An Outstanding
Customer Service Experience" for the Live Phone Channel. Aflac
Incorporated is a Fortune 500 company listed on the New York Stock
Exchange under the symbol AFL. To find out more about Aflac and One
Day PaySM, visit aflac.com or espanol.aflac.com.
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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SOURCE Aflac