OAKBROOK TERRACE, Ill., Sept. 10, 2018 – BCS Financial announces today a new hospital indemnity product available to help consumers pay for out-of-pocket medical expenses related to hospitalization. The product, underwritten by BCS Insurance Company, is now available in 37 states.
“Over the last 10 years, we’ve seen health insurance costs and deductibles rising faster than consumer wages, creating significant gaps in the affordability of care,” said BCS Financial Senior Vice President, Marketing, Product and Strategic Ventures, James Drew. “EssentialCare Group Hospital Indemnity coverage solves for these benefit gaps by protecting the financial wellness of healthcare consumers in the event of a hospitalization.”
EssentialCare Group Hospital Indemnity includes 39 benefits types that can be tailored to complement any underlying major medical or supplemental coverage an employer may offer. Employers can select benefit durations, benefit amounts and a wide range of optional coverages, including HSA compatibility. Other key plan features include:
- Guaranteed issue coverage
- No network or coordination of benefits
- Flexible plans with available benefits such as hospital admission, inpatient, outpatient, diagnostics services, transportation, family lodging, and dependent adult and pet care
- Fixed payments made directly to the member to spend as they choose
“When a hospitalization occurs, the focus should be on recovery, not finances,” Drew said. “EssentialCare Group Hospital Indemnity helps reduce the burden of medical bills associated with a hospital stay and adds to our portfolio of accessible and affordable ancillary product solutions.”
EssentialCare Group Hospital Indemnity is underwritten by BCS Insurance Company, and available exclusively through BCS brokers and the BCS Insurance Agency. To learn more about BCS Financial, visit bcsf.com.