The Value of Supplemental Insurance

Why Voluntary Benefits?

Although the marketplaces are designed to provide coverage for millions of uninsured Americans, the plans could likely leave enrollees with considerable financial exposure. Based on the plan level, lower premiums can mean more out-of-pocket costs at claim time.

Voluntary benefits can help offset out-of-pocket costs such as deductibles, co-pays and co-insurance. We can help you offer this added protection through employer-paid, shared or employee-paid plans, so you can provide your employees access to greater financial protection, with little to no effect on your bottom line.

Our voluntary benefits:

  • Are not directly impacted by market reforms
  • Can be offered in addition to qualified health insurance, or as supplemental coverage
  • Are often exempt from:
    • Health plan design changes
    • Coverage requirements, including requirements for covering preventive services
    • Restrictions on limits
    • Loss ratio requirements
    • Coverage for dependents to age 26
    • Waiting period limits
    • Guaranteed issue (no pre-existing condition) requirements
    • Summary of Benefits and Coverage document requirements

Your employees may benefit from:

  • Disability insurance
  • Accident insurance
  • Cancer insurance
  • Critical illness insurance
  • Supplemental life insurance
  • Hospital confinement indemnity insurance
  • Dental insurance

Learn more about these valuable coverages.