Life can change in an instant. When your health is dealt an unexpected blow, your time and energy should be spent on getting well – not worrying about how to pay for the care you need while staying on top of household bills.
Supplemental health benefits offer an affordable way to support wellbeing when employees must deal with unforeseen medical challenges. Whether it’s an X-ray for a sprained ankle, surgery after an accident, or critical care for a serious diagnosis, the financial support these benefits provide can make all the difference to employees and their families.
Your people are your greatest asset. But chances are, their assets might not be enough to keep them financially afloat in a health crisis. Even with generous salaries and medical benefits, deductibles and premiums are increasing, while health insurance policies are reducing what they’ll cover. That means many workers in the United States still face tough odds, especially after a sudden medical event.
The average cost of a three-day hospital stay.3
What’s more, nearly half (46 percent) of insured adults report difficulty affording their out-of-pocket health care costs, and one in four (27 percent) report difficulty affording their deductible.4
Supplemental health insurance benefits provide the extra support employees need, while helping you expand offerings and control costs at the same time. Offering supplemental health coverage sends a strong message: “I value the time and effort you give to my business, so I have your back if times get tough for you.” Workers who have supplemental health insurance through their employer are 33% more likely to report high overall well-being and 25% more likely to want to stay with their current employer.5
Supplemental health insurance plans provide cash payouts after certain unexpected events that require medical attention, such as accidents, serious illnesses, and hospital stays.
At about the cost of a latte a day per product, we make supplemental health insurance plans affordable enough to offer to employees on a voluntary basis, meaning you can provide employees this vital coverage while also controlling benefits costs.
These benefits complement medical insurance by helping to fill expense gaps that health coverage might leave behind, such as copays, deductibles, and coinsurance. Plus, the benefits payments can be used to help pay for everyday costs such as rent, groceries, gas, or childcare—helping the insured person reduce or prevent financial stress while they are recovering.
Supplemental health insurance can provide added financial support in the event an employee needs to use disability benefits. For example: An employee may need to go on short-term disability to recover after an extended hospital stay, a heart attack, or after being diagnosed with an illness like cancer – all “payable events ” for supplemental health insurance. When a disability claim is filed, Guardian will automatically look for other qualifying coverages, then give the employee all the benefits that apply to their claim in one check.
2022-138812 20240731
