PORTLAND, Ore.--(BUSINESS WIRE)--Standard Insurance Company (The Standard) announced today the launch of a new hospital indemnity insurance product, designed specifically for hospital employer groups. Hospital Indemnity Plus pays hospital employees a 20 percent higher benefit for a hospital stay within the employer’s health system.
“The Standard values customer feedback, and when we hear about a need in the market, we’re here to find a solution,” says Dayna Kirk, assistant vice president of voluntary at The Standard. “We developed Hospital Indemnity Plus to offer a unique product that supports their employee benefits strategies.”
Hospital Indemnity Plus is available in conjunction with The Standard’s HSA-compatible plan and provides covered employees with a 20 percent higher benefit on hospital stays within their employer’s system. Hospital Indemnity Plus pays the additional benefit for hospital confinement, hospital admission, critical care unit confinement and CCU admission directly to the employee. When employees can’t visit one of their employer’s facilities — such as during an emergency — they will still receive the policy’s regular benefits.
“Rising medical insurance costs have challenged employers to design competitive and cost-effective employee benefits packages,” says Danielle Lehman, senior voluntary product manager at The Standard. “Hospital Indemnity Plus was designed as an additional way for hospital employers to encourage their employees to seek care within their system.”
For additional information on The Standard’s Hospital Indemnity products, visit standard.com or contact your regional sales representative.
About The Standard
The Standard is a marketing name for StanCorp Financial Group, Inc., and subsidiaries. Insurance products are offered by Standard Insurance Company of Portland, Oregon, in all states except New York. Product features and availability vary by state and are solely the responsibility of Standard Insurance Company.