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March 31, 2003
Guardian Life Insurance Launches New Indemnity Plan For The State Of New Jersey
Guardian Life Insurance Launches New Indemnity Plan For The State Of New Jersey
NEW YORK, N.Y., March 31, 2003 — The Guardian Life Insurance Company of America introduced today the Basic and Essential Plan for the State of New Jersey, a new plan of individual health benefits.
The Basic and Essential Plan provides New Jersey residents with a more affordable option than those individual healthcare plans currently offered by Guardian in the state. Traditional indemnity plans— also commonly referred to as "traditional" or "fee-for-service" plans — permit individuals to choose any physician or hospital, requiring only that a claim is filed after treatment and expenses are incurred. The Basic and Essential Plan follows these provisions, granting reimbursement for basic and essential healthcare services. It does not include traditional mandated benefits that standard plans are subject to or reimbursement for services that the consumer can afford.
"We are excited to offer our customers a new option for their primary healthcare services," Richard A. White, senior vice president of Guardian, Group Insurance. "The Basic and Essential plan is yet another example of Guardian's commitment to supporting the needs of our local customers."
Additional provisions found in Guardian's Basic and Essential plan include required pre-authorization of non-emergency hospitalizations as well as prior review and approval for certain services. Any individual who satisfies the eligibility requirements described in the Eligibility Section of the policy will be granted coverage. Past or current health conditions do not apply to eligibility requirements, but the "pre-existing conditions" provision may limit coverage during the first 12 months. Individuals are also guaranteed renewal of the policy as long as certain conditions are met.
Additional information on the Basic and Essential Plan is available by contacting Guardian's Small Group Sales Office at (888) 243-6585.
About Guardian
The Guardian Life Insurance Company of America, New York, NY (Guardian) is the fourth largest mutual life insurance company in the United States. As of December 31, 2002, Guardian and its subsidiaries had $34.1 billion in assets. Founded in 1860, Guardian is listed among Fortune magazine's top 300 businesses---and in 2003 was ranked once again as one of the top 10 most admired life and health companies in Fortune's "America's Most Admired Companies" list. With 5,500 employees, over 2,700 financial representatives and 100 agencies nationwide, Guardian and its subsidiaries protect individuals, businesses and their employees with life, disability, health and dental insurance products, and offer 401(k), mutual fund and annuity investment products, and trust services. More information on Guardian can be obtained at: www.guardianlife.com. | 
