Employers can now get Unum hospital insurance with more funding options and greater flexibility in how the coverage is offered. The new hospital insurance is available for quotes with coverage starting in 2021. The revamped hospital product better complements health insurance with fewer coverage gaps and less duplication for employees. Other features include more options in coverage level with varying price points, compatibility with health savings accounts, a well-child benefit for newborns who get routine check-ups, and coverage for mental health hospital confinement.
Hospital insurance pays a lump-sum benefit for qualifying hospital visits, such as trips to the emergency room, in-patient surgeries, or childbirth. Employers can offer the coverage to employees on an employer- paid or employee-paid basis — or a mixture of both. It’s offered on the same administrative platform as Unum’s other group benefits — like disability and life insurance — for streamlined onboarding, billing, and management for plan administrators. Companies with 100 or more employees can purchase the coverage, and at least 10 employees must be enrolled.
Hospitalizations due to COVID-19 may be covered under Unum’s hospital insurance depending on the terms of the policy. More info at UNUM.com.