ST. PAUL, Minn.--(BUSINESS WIRE)--Securian Financial is teaming up with the industry’s premier emergency medical transportation benefit service—MASA—in an exclusive agreement to offer market-leading ambulance coverage as an addition to Securian’s group accident insurance product offered in workplaces throughout the country.
While many supplemental health insurance carriers offer an ambulance benefit with a flat dollar payout, Securian Financial—through its strategic partnership with MASA—will be the first and only carrier to offer a benefit that fully covers out-of-pocket costs for ground and air ambulance rides. And, emergency ambulance rides due to any health care event—not just accidents—are covered.
“Securian Financial is excited to team with MASA to introduce the supplemental health insurance market’s most robust and generous ambulance coverage paired with our group accident insurance product,” said Lydia Jilek, Securian Financial 2nd vice president, group life and voluntary benefits. “Emergency medical transportation and the professional EMS care provided is expensive and often results in significant out-of-pocket costs for employees. We believe this ambulance coverage will be popular with employers and employees alike, because there is a tremendous need.”
According to MASA, the average cost of a ground ambulance ride is $2,000 and air medical transport averages $69,000 per flight.1 Health insurance may cover ambulance rides with in-network providers. But, with an estimated 27,000 ambulance companies operating in the U.S., a 2023 study published by Fair Health, a nonprofit that collects and manages the nation’s largest database of privately billed health insurance claims, found that 59% of ground ambulance rides were out-of-network in 2022.2 Additionally, ground ambulance transportation is not addressed by the “No Surprises Act”—a federal law protecting patients from unexpected medical bills.3
“We’re proud to deliver even greater peace of mind to Securian Financial group accident insurance enrollees,” said Joe Heaney, president of MASA’s Business Group. “With this strategic partnership, covered employees will no longer have to worry about accessing and affording ambulance care when they need it most. MASA and Securian go beyond flat dollar payouts—we cover out-of-pocket costs for paramedic services and emergency medical transportation. That’s where care starts and is most critical to saving lives.”
Benefit brokers interested in learning more can find a Securian Financial supplemental health insurance sales professional to talk to in their region at www.securian.com/emergency-transport-protection.html.
About supplemental health insurance
A serious illness, hospital stay or unexpected accident can derail a family’s finances. Having additional financial protection with supplemental health insurance benefits offered through employers can help alleviate some of the financial burden.
Supplemental health insurance benefits are in addition to—not in place of—major medical insurance, which can have costly deductibles and co-pays. The cash benefit payments with supplemental health insurance can be used however an insured person wishes, but most use the benefits to pay for costs not covered by medical insurance—including child care, meals, travel expenses and lost income while being treated for or recovering from a medical incident.
Critical illness, hospital indemnity and accident insurance are the most common supplemental health insurance benefits offered through employers. The insurance is often categorized as a “voluntary benefit” because it is optional for employees, who must elect the coverage and pay premiums. While most employers do not subsidize the premiums, the coverage is offered to employees at affordable group rates.
Securian Financial offers supplemental health insurance benefits to employers nationwide. Through the end of August, Securian Financial’s 2024 supplemental health benefit sales are up 119% over comparable 2023 sales.
Securian Financial is also the nation’s third-largest direct writer of group life insurance.4 The company is the top provider of group life insurance to state governments—15—and has an extensive list of Fortune 500 employer clients, including 22 of the Fortune 100.5