COLUMBUS, Ga., Feb. 14, 2017 /PRNewswire/ -- Aflac, the
leader in voluntary insurance sales at the worksite in the United States, is making it even easier
for customers to access much-needed financial support while they
are in the hospital.
Among the enhanced customization options, the new Aflac Choice hospital policy features an
industry-first benefit: the Initial Assistance Benefit. Most times,
hospital visits are unplanned, and you may not be prepared for the
immediate expenses that may pop up, such as hospital parking, meals
for your family or babysitters. And it can sometimes take weeks for
hospitals to send the necessary paperwork to file claims. That's
where this benefit delivers – payments are made directly to the
insured when first admitted to the hospital, even if it's for
less than 24 hours – with just a simple signature from the
physician.
Designed as a small-business solution
For small businesses, balancing benefits value and cost
containment is a constant challenge. Aflac
Choice is available at no direct cost to the employer and
helps alleviate medical and daily living expenses that can
negatively impact employee morale and productivity. And because the
base plan is guaranteed issue, any employee who applies for
coverage can get it – so there's no pressure to make sure a
specific number of employees participate in order for all to
qualify for coverage.
"Small-business owners understand the importance of a strong
benefits package, but they also have to keep costs in check," said
Stephanie Shields, vice president of
Product Innovation and Marketing at Aflac. "Aflac Choice makes it simple. Employers offer
employees a customizable plan they can tailor to their lifestyle
and budget without impacting their bottom line. And employees'
lifestyles are better protected when an injury or illness requires
hospitalization."
Customizable to meet employee needs and budgets
Major medical insurance is designed to cover everything from a
stomach bug to appendicitis, as well as other illnesses and
injuries that can result in a hospital visit. However, even people
who have major medical coverage often forget to consider that their
insurance may not cover the total financial impact of an unexpected
hospital stay, which, on average, lasts 4.6 days and costs
$11,000.1 These unforeseen
costs can overwhelm employees, causing a ripple effect of
challenges that may force them to choose between paying bills not
covered by health insurance and paying for day-to-day needs, like
transportation or child care. Intended to help employees supplement
their existing major medical coverage, Aflac Choice helps provide financial peace of
mind by paying a set amount directly to the insured, unless
otherwise assigned, helping employees keep their lifestyles intact
and focus on recovery, not on bills.
Aflac Choice has a more
simplified base plan design and higher benefits for inpatient
rehabilitation facility care, short hospital stays and emergency
room visits than previously available, allowing policyholders
to customize their coverage to their specific needs and the needs
of their families:
- Hospital Stay and Surgical Care Rider: This rider
includes the Initial Assistance Benefit, which pays a covered
person $100 once per calendar year as
soon as they are admitted to the hospital. It also offers benefits
for second surgical opinions.
- Extended Benefits Rider: This rider provides additional
financial protection through a physician visit benefit, which now
covers psychologist visits, acute/urgent care and telemedicine.
With telemedicine, policyholders can save valuable time by choosing
where to consult with a doctor – whether it's from home, work or on
the go.
Receiving hospital coverage has never been easier
The base plan and Extended Benefits Rider are guaranteed issue,
meaning they are available to any eligible employee regardless of
medical history. And with no participation requirements, any
employee who applies for coverage can receive it.
Aflac Choice is currently
available in Alabama, Arkansas, Georgia, Illinois, Louisiana, Maine, Michigan, Mississippi, Nebraska, New
Mexico, North Carolina and
Texas. The company intends
to introduce Aflac Choice in
additional states across the country throughout 2017. To determine
when it will be available in your state and to learn more about
Aflac Choice, please visit
aflac.com/hospital.
About Aflac
When a policyholder gets sick or hurt,
Aflac pays cash benefits fast. For six decades, Aflac insurance
policies have given policyholders the opportunity to focus on
recovery, not financial stress. In the
United States, Aflac is the leading provider of voluntary
insurance sales at the worksite. Through its trailblazing One Day
PaySM initiative, Aflac U.S. can receive, process,
approve and disburse payment for eligible claims in one business
day. In Japan, Aflac is the
leading provider of medical and cancer insurance and insures 1 in 4
households. Aflac individual and group insurance products help
provide protection to more than 50 million people worldwide. For 10
consecutive years, Aflac has been recognized by Ethisphere as one
of the World's Most Ethical Companies. In 2016, Fortune magazine
recognized Aflac as one of the 100 Best Companies to Work For in
America for the 18th consecutive year and included Aflac on its
list of Most Admired Companies for the 15th time, ranking the
company No. 1 in innovation for the insurance, life and health
category for the second consecutive year. In 2015, Aflac's contact
centers were recognized by J.D. Power by providing "An Outstanding
Customer Service Experience" for the Live Phone Channel. Aflac
Incorporated is a Fortune 500 company listed on the New York Stock
Exchange under the symbol AFL. To find out more about Aflac and One
Day PaySM, visit aflac.com or espanol.aflac.com.
Aflac herein means American Family Life Assurance Company of
Columbus and American Family Life
Assurance Company of New York.
Aflac Group herein means Continental American Insurance Company
and/or Continental American Life Insurance Company.
Media contact – Kristen
Fraser, 706.243.5543 or mediarelations@aflac.com
Analyst and investor contact – Robin Y. Wilkey, 706.596.3264 or 800.235.2667,
FAX 706.324.6330, or rwilkey@aflac.com
1 Agency for Healthcare Research and Quality, Trends
and Projections in Inpatient Hospital Costs and Utilization,
2003-2013, Statistical Report No. 175, accessed Nov. 11, 2016
- http://www.hcup-us.ahrq.gov/reports/statbriefs/sb175-Hospital-Cost-Utilization-Projections-2013.pdf
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SOURCE Aflac