Lincoln Financial Group enhances supplemental health suite with expanded Hospital Indemnity insurance coverage
30 Novembre 2022 - 4:05PM
Business Wire
New research shows nearly nine in 10
consumers would be interested in Hospital Indemnity insurance if it
were offered as part of their workplace benefits
Amid rising interest in supplemental health coverages, Lincoln
Financial Group (NYSE: LNC) has expanded its Hospital Indemnity
insurance coverage to include additional benefit options. The new
enhancements include two family-focused newborn care options and an
additional benefit for healthcare clients that includes coverage
when being treated at an employer-affiliated hospital.
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In today’s economic environment, the financial security provided
by supplemental health benefits is more important than ever, nearly
half (48%) of U.S. workers surveyed say they feel more concerned
about paying for healthcare expenses1, and more than 77% say they
have less room in their budget for unexpected expenses as a result
of inflation2. With Hospital Indemnity insurance, a lump-sum
payment is provided when a covered employee or family member is
admitted to the hospital or undergoes outpatient surgery for a
covered illness or injury. Together with Accident and Critical
Illness insurance, Hospital Indemnity helps covered Americans with
everyday expenses that may not be included in their traditional
medical insurance.
“Employees are looking to their employers for benefits that can
offer protection from the unexpected,” said James Reid, executive
vice president, president of Workplace Solutions at Lincoln
Financial Group. “By expanding the benefits within Lincoln’s
Hospital Indemnity solution, we’re providing employees with
additional protections for today while they plan for a more secure
financial future.”
Nearly nine in 10 employees surveyed say they would be
interested in Hospital Indemnity insurance if it were available as
part their workplace benefits3. With Lincoln Financial’s Hospital
Indemnity plan, employers can offer employees protection against
financial hardships due to unexpected hospitalizations, including
mental disorder and substance abuse treatment benefits, as well as
infectious-disease-related tests, among others.
Enhanced Hospital Indemnity Benefit Options
- Newborn care benefit (sometimes called routine
well-baby care): Provides a cash benefit for each day a newborn
child remains in the hospital for routine post-natal care
immediately following a covered person’s childbirth.
- Birth center benefit: Provides labor and childbirth
experiences in a family-friendly, homelike environment and includes
a benefit for each day spent in a Birth Center for routine care
related to childbirth.
- Affiliated facility benefit: Provides an additional
benefit when being treated in a hospital due to a covered event,
where the hospital is owned, operated or controlled by the
employer. The benefit percentage applies to the amount of the
following benefits: Hospital Admission, Hospital Intensive Care
Unit Admission, Hospital Confinement and Hospital Intensive Care
Unit Confinement. This benefit is specific to healthcare
clients.
Lincoln Financial’s Hospital Indemnity product is available in
45 states and the District of Columbia.
As a leading provider in workplace benefits, Lincoln’s expanded
Hospital Indemnity solution helps provide additional protection
against financial hardships due to unexpected hospitalizations. For
more information on Lincoln Financial’s supplemental health
solutions, click here.
About Lincoln Financial Group Lincoln Financial Group
provides advice and solutions that help people take charge of their
financial lives with confidence and optimism. Today, approximately
16 million customers trust our retirement, insurance and wealth
protection expertise to help address their lifestyle, savings and
income goals, and guard against long-term care expenses.
Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is
the marketing name for Lincoln National Corporation (NYSE:LNC) and
its affiliates. The company had $270 billion in end-of-period
account values as of September 30, 2022. Lincoln Financial Group is
a committed corporate citizen included on major sustainability
indices including the Dow Jones Sustainability Index North America
and FTSE4Good and ranks among Newsweek’s Most Responsible
Companies. Dedicated to diversity, equity and inclusion, we are
included on transparency benchmarking tools such as the Corporate
Equality Index, the Disability Equality Index and the Bloomberg
Gender-Equality Index. Committed to providing our employees with
flexible work arrangements, we were named to FlexJobs’ list of the
Top 100 Companies to Watch for Remote Jobs in 2022. With a long and
rich legacy of acting ethically, telling the truth and speaking up
for what is right, Lincoln was recognized as one of Ethisphere’s
2022 World’s Most Ethical Companies®. We create opportunities for
early career talent through our intern development program, which
ranks among WayUp and Yello’s annual list of Top 100 Internship
Programs. Learn more at: www.LincolnFinancial.com. Follow us on
Facebook, Twitter, LinkedIn, and Instagram. Sign up for email
alerts at http://newsroom.lfg.com.
LCN-5189525-111622
1 Lincoln Financial, Consumer Sentiment Omnibus, September 2022
2 Lincoln Financial, Consumer Sentiment Omnibus, June 2022 3
Lincoln Financial, Wellness@Work: Group Benefits, 2022
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version on businesswire.com: https://www.businesswire.com/news/home/20221130005129/en/
Media Jenna DeMato Jenna.DeMato@lfg.com 480-662-5371
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