New Cigna Hospital Indemnity Insurance Coverage Provides Flexibility and Additional Financial Protection for Consumers
March 21 2016 - 9:00AM
Business Wire
- Cigna’s new group hospital indemnity
insurance policy, Cigna Hospital Care, helps customers pay for
costs associated with unexpected medical bills when they are
admitted to a hospital for a covered injury or illness
- The plan pays individuals a lump sum to
use as they see fit for a covered hospitalization
- All of Cigna's voluntary benefits are
designed to complement any comprehensive benefit package and
address the financial protection needs of customers
Cigna’s (NYSE:CI) new group hospital indemnity insurance policy,
called Cigna Hospital Care, provides individuals and families
additional financial protection when an unexpected covered
hospitalization occurs. Available starting in April 2016, the new
plan is part of Cigna's complete suite of voluntary benefit
offerings which includes accidental injury, critical illness,
dental, vision, AD&D, life and disability coverages.
“Whether recovering from an illness or injury or simply
returning to work, we want to help customers worry less about
medical bills and focus more on getting back to health and to
life,” Mark Marsters, senior vice president, Group Operations
for Cigna. “We designed our voluntary benefits to fit
seamlessly into any comprehensive benefit package. They also
provide employees more choices to help match the amount of
financial protection to their individual benefit needs.”
A complementary product to major medical plans, Cigna Hospital
Care addresses the unique needs of both employers and
individuals:
- Plans can be designed to include
benefits for a wide range of hospital-related services
- It complements coverage to any medical
plan, regardless of which insurer is chosen for medical
coverage
- The coverage is portable and can be
taken with an employee if they leave their employer (age and other
restrictions apply)
- For employers, Cigna Hospital Care is
easy to administer and can be designed to fit into any
comprehensive benefit package
- Employers also have the option to add a
wellness rider, which would pay a flat dollar amount to employees
who receive an annual wellness health screening
If a customer is hospitalized due to a covered injury or
illness, Cigna Hospital Care pays them a lump sum that can be used
as they see fit for things like out-of-pocket medical costs, hiring
extra help for child care or housework during recovery and other
expenses that may come up. With two-thirds of Americans living
paycheck-to-paycheck, costs associated with a hospital admission
can be an unexpected challenge to an individual’s finances.i
According to the Agency for Healthcare Research and Quality (AHRQ),
Americans saw approximately 36 million inpatient stays nationwide
in a single year, while the average hospital charges per stay
increased 76 percent since 2000 to $10,730 in 2013.ii These average
costs do not include a physician’s fees.
Cigna’s new group insurance policy will be available for
employers to receive a quote in April 2016.
HOSPITAL INDEMNITY POLICIES PAY LIMITED BENEFITS ONLY. THIS
COVERAGE DOES NOT SATISFY THE “MINIMUM ESSENTIAL COVERAGE” OR
INDIVIDUAL MANDATE REQUIREMENTS OF THE AFFORDABLE CARE ACT (ACA).
Product availability may vary by location and plan type and is
subject to change.
About Cigna
Cigna Corporation (NYSE: CI) is a global health service company
dedicated to helping people improve their health, well-being and
sense of security. All products and services are provided
exclusively by or through operating subsidiaries of Cigna
Corporation, including Connecticut General Life Insurance Company,
Cigna Health and Life Insurance Company, Life Insurance Company of
North America and Cigna Life Insurance Company of New York. Such
products and services include an integrated suite of health
services, such as medical, dental, behavioral health, pharmacy,
vision, supplemental benefits, and other related products including
group life, accident and disability insurance. Cigna maintains
sales capability in 30 countries and jurisdictions, and has more
than 90 million customer relationships throughout the world. To
learn more about Cigna®, including links to follow us on Facebook
or Twitter, visit www.cigna.com
i American Payroll Association, “Getting Paid in American
Survey.” 2014.ii HCUP Fast Stats. Healthcare Cost and Utilization
Project (HCUP). December 2015. Agency for Healthcare Research and
Quality, Rockville, MD.
www.hcup-us.ahrq.gov/faststats/national/inpatienttrends.jsp?measure1=01&characteristic1=01&time1=10&measure2=01&characteristic2=01&time2=20&expansionInfoState=hide&dataTablesState=hide&definitionsState=hide&exportState=hide
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Cigna CorporationJim Angstadt,
215-761-8748Jim.Angstadt@cigna.com
Cigna (NYSE:CI)
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