The Hartford Newsroom

The Hartford Introduces New Hospital Indemnity Product

May 1, 2017
"As healthcare costs continue to rise and consumers increasingly have higher deductibles and out of pocket maximums, hospital indemnity helps to defray some expenses not covered by primary health insurance, addressing a financial pain point for consumers"

To help protect employees from the financial costs of health events that result in hospitalization or other covered treatment, The Hartford has expanded its suite of voluntary benefits products to include hospital indemnity.

“As healthcare costs continue to rise and consumers increasingly have higher deductibles and out of pocket maximums, hospital indemnity helps to defray some expenses not covered by primary health insurance, addressing a financial pain point for consumers,” said Mike Fish, head of Group Benefits product and strategy at The Hartford. “With the addition of hospital indemnity insurance, The Hartford now offers employer clients a full suite of voluntary and group products to meet their benefits needs."

Designed to complement critical illness and accident insurance to cover out of pocket expenses, hospital indemnity provides a cash benefit for hospital stays due to certain illness or injuries. Benefits can be used for medical expenses including insurance deductibles, as well as every day costs such as housekeeping. Employees and their covered dependents are paid a set benefit amount depending on the type and length of hospital stay. Other features of The Hartford’s hospital indemnity insurance plans include:

  • Extensive, flexible coverage options allowing plans to be built to suit employers and their employees while keeping benefit costs affordable;
  • HSA-compatible benefits such as first and additional day hospital stays;
  • A range of optional benefits including medical-related travel, and child or pet care while in the hospital;
  • Coverage offered with composite rates, which means rates don’t vary based on age; and
  • Optional riders to expand the scope of coverage, including short-term care, term life, critical illness, and accidental death & dismemberment (AD&D).

Beyond the insurance benefit, The Hartford offers the following services to help support recovery at no extra cost to the company or the employee.

  • Ability Assist® – Provides confidential support for emotional, legal and financial issues; and
  • HealthChampionSM – Offers unlimited access to benefit specialists and nurses for administrative and clinical support to address medical care and claims concerns.

Hospital indemnity is the most recent addition to the Employee Choice BenefitsSM (www.thehartford.com/employeechoice) platform from The Hartford, a market leader in employer-paid and voluntary life and disability insurance. The voluntary benefits suite also includes flexible plan options for lifeshort- and long-term disability, AD&D insurance, critical illness, accident insurance and DisabilityFLEX.®

About The Hartford

The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at https://www.thehartford.com. Follow us on Twitter at www.twitter.com/TheHartford_PR.

The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Conn. For additional details, please read The Hartford’s legal notice.

HIG-G

Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our 2016 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.

From time to time, The Hartford may use its website to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at https://ir.thehartford.com. In addition, you may automatically receive email alerts and other information about The Hartford when you enroll your email address by visiting the “Email Alerts” section at https://ir.thehartford.com.

Contacts

The Hartford
Thomas Hambrick, 860-547-9746
thomas.hambrick@thehartford.com

Newsroom