Keeping finances in good health
Group hospital indemnity insurance empowers employees to plan ahead financially with flexible, affordable options for offsetting out-of-pocket expenses resulting from an unexpected hospital visit.
Why offer group hospital indemnity insurance?
Unexpected hospital visits are common and when they happen, it can be costly. Along with rising healthcare costs and deductibles, a hospital stay can mean lost wages and other unexpected bills. Offering hospital indemnity insurance helps give employees peace of mind by protecting their overall financial security.
- Cash benefit is paid directly to employees to use any way they choose
- Payout doesn’t depend on income or participation in other employer insurance offerings
- Coverage available without a medical exam
What does the policy cover?
Our hospital indemnity insurance is designed to offer maximum flexibility and stand out in the marketplace with over 22 covered conditions and innovative features that meet the needs of diverse workforces.
- Hospital stay not dependent on admission — Benefit does not require hospital admission in order to be payable. Rather, the insured needs to satisfy the condition of receiving treatment or being confined to an observation area for a specified number of hours.
- Mental health benefits — outpatient and inpatient — Robust diagnostic screening and medical support benefits for several mental health conditions, including depression, generalized anxiety, substance abuse disorder, ADHD, PTSD and autism. Provides a daily benefit for individuals seeking inpatient medical support.
- Newborn coverage — Automatically covers all newborn children, and the mother's hospital stay.
- Proactive labor and delivery hospital claims — Proactively pays claims for routine labor and delivery once the birthing parent reaches 36 weeks gestation. Both the initial and daily benefit will be paid for a three-day stay. Longer stays are eligible for additional benefits.
- Pet boarding — Payable each day1 an insured is confined in a hospital or rehabilitative facility for an injury resulting from a covered hospital stay.
- Adult companion lodging — Provided when the insured's companion incurs a lodging charge and the hospital stay or rehabilitative (inpatient) benefit is payable the same day.
- Rehabilitation therapy — Comprehensive list of covered therapies that include occupational therapy, vocational therapy, speech therapy, respiratory therapy, cognitive behavioral therapy and trauma counseling.
BenefitBump — supporting growing families
BenefitBump is a concierge service that helps growing families build a plan for balancing work and life.2
The program connects employees with their available benefits, time-off programs and childcare resources. It also assists with return-to-work planning and logistics. Emotional health professionals and benefit plan experts help guide the entire family through their journey — designed for all paths to parenthood — and assist in managing the stress and mental fatigue that often accompany a growing family.
How does this insurance work?
If an employee experiences a hospital stay covered by the policy, they can receive a payout to use any way they wish — to help cover deductibles, out-of-pocket medical costs or everyday living expenses.
The payments are not dependent upon hospital charges and are paid in addition to any other benefits the employee may receive. Out-of-hospital benefits also are available.
Benefit example
| Benefit | Medical Expense | Low Plan | High Plan |
|---|---|---|---|
| Hospital Stay, Initial Benefit (non-ICU) | $2,000 | $250 | $500 |
| Hospital Stay, Daily Benefit (non-ICU) (2 days) | $200 | $400 | |
| Totals | $2,000 | $450 | $900 |
Actual experience and benefit payouts may vary.
Benefit Scout®
This online decision-support tool is designed to educate employees about voluntary benefits offered through their employer. Benefit Scout offers coverage suggestions to help employees understand which benefits best fit their needs before they enroll.
1. Payable up to a specified number of days while the insured receives treatment.
2. Value-added services availability and features may vary by state. Access to BenefitBump is not contingent upon participation in the group hospital indemnity insurance product, nor any other product offered by Securian Financial Group, Inc. and its insurance company subsidiaries. The relationship between BenefitBump, LLC and Securian Financial Group, Inc. is that of independent contractor. BenefitBump, LLC is responsible for the services it provides and does not have the power or authority to obligate or bind Securian Financial Group, Inc. in any manner beyond that which is contractually agreed to by the parties.
This policy provides limited benefits and has exclusions, limitations, reductions of benefits and terms under which the policy may be continued in force or discontinued. For further details, including product availability, contact your benefits department or Securian Financial Group.
Group hospital indemnity insurance is issued by Securian Life Insurance Company, a New York authorized insurer under policy form series 19-32690 or 23-32598. Securian Life Insurance Company is a subsidiary of Securian Financial Group, Inc. and is headquartered in Saint Paul, MN. Product availability and features may vary by state.
DOFU 11-2023
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