New Short-Term Health Care Coverage Offered for Unemployed

WARWICK, R.I.--(BUSINESS WIRE)--Responding to growing unemployment and the prospect of increased dislocation, AmWINS Group Benefits announces an expansion of its niche medical health plan offerings today with the launch of AmWINS BridgeCare. The product provides immediate short-term medical coverage for the newly unemployed and others experiencing a lapse in coverage.

“The credit crisis is taking jobs and it’s taking people’s health insurance”

With the distress in the investment banking industry and the looming credit crisis, the number of unemployed Americans has increased by 2.2 million over the past 12 months¹ – increasing the number of uninsured persons in the process. AmWINS Group Benefits, a leading distributor of wholesale retiree and employee health benefits and professional services, now provides a cost-effective alternative to temporary major medical coverage, such as COBRA, where the cost may be beyond the means of many.

AmWINS BridgeCare coverage is available for individuals under age 65, and their families, in need of medical insurance for a one to twelve month period (depending on state mandates). Others who can benefit from AmWINS BridgeCare include new employees waiting for their health insurance to begin, recent college graduates leaving their parents health plans, hourly wage earners not eligible for employer provided coverage, and seasonal workers.

“The credit crisis is taking jobs and it’s taking people’s health insurance,” said Sam Fleet, AmWINS Group Benefits President and CEO. “And more employers are cutting expenses by extending waiting periods for insurance to kick in from 30 to 90 days, leaving even more Americans in health coverage limbo,” Fleet added.

AmWINS BridgeCare is underwritten by Companion Life and administered by AmWINS Group Benefits, allowing individuals, businesses and brokers to leverage state-of-the-art administration and online enrollment services. Applicants can quickly apply online and have coverage issued as early as the next day.

AmWINS BridgeCare medical coverage includes:

• $2 million lifetime maximum coverage
• In-hospital and out-patient benefits
• Urgent care services
• Surgery in a hospital or ambulatory surgical center
• Intensive care
• X-ray and laboratory services
• Ambulance services
• 10 day “Free Look” period
• Generic prescription discount card

Short-term medical does not cover all medical conditions including pre-existing conditions. Among the disqualifying conditions are cancer, pregnancy and heart disease.

About Companion Life

Companion Life Insurance Company has specialized in employee benefits for more than 35 years, marketing insurance products in 45 states and the District of Columbia. The mission of Companion Life Insurance Company is to be a well-managed, customer-focused organization acting in the best interests of its policyholders and marketing partners, while operating on a financially sound, growing and diversified basis. Companion Life has earned an A.M. Best rating of "A+" (Superior).

About AmWINS Group Benefits

AmWINS Group Benefits is a leading wholesale broker of comprehensive group insurance programs and administrative services. Working with benefit brokers and consultants, AmWINS Group Benefits designs, distributes and administers customized health benefit products and services for retired and active populations in private and public organizations. Its parent company, AmWINS Group, Inc. is one of the largest insurance wholesalers in the United States. AmWINS Group Benefits is headquartered in Warwick, RI. More information about AmWINS Group Benefits is available at www.groupbenefits.amwins.com.

¹ Bureau of Labor Statistics of the U.S. Department of Labor