Washington National Launches New Hospital Indemnity Insurance Product

Hospital Assure Helps Cover Out-of-Pocket Expenses Associated with a Hospital Stay

 

CARMEL, Ind.Nov. 29, 2018 /PRNewswire/ -- Washington National Insurance Company, a national provider of supplemental health and life insurance products for middle-income Americans, announced today a new hospital indemnity insurance policy, Hospital AssureSM.

Hospital Assure helps pay for expenses associated with a hospital stay that are not covered by employer-provided health insurance plans, individual major medical insurance or Medicare. Common uncovered expenses include deductibles, co-payments and other out-of-pocket expenses when consumers need a hospital stay, outpatient hospital care, emergency room visit or rehabilitation facility care for a covered sicknesses or covered accident.

Additionally, Hospital Assure complements consumers' existing health insurance plans by paying lump-sum cash benefits directly to consumers, not to the doctor or hospital. This gives families the flexibility to use their cash benefits without restrictions, including paying for everyday bills and expenses if the policyholder is unable to work.

"We designed Hospital Assure to address the needs of middle-income Americans," said Mike Heard, president of Washington National. "According to recent data from the U.S. Department of Health and Human Services, the average hospital stay costs more than $10,700. Expensive hospital stays can force many consumers to dip into their savings or even pay by credit card for these out-of-pocket expenses. With Hospital Assure, policyholders can focus on getting the care they need, rather than the costs."

For individuals who do not have a health savings account, Hospital Assure offers an optional Return of Premium/Cash Value Benefit rider, a distinctly competitive feature in the marketplace that allows customers to get 100% of their premiums paid, minus any claims incurred, at the end of the rider period.

The benefits of Hospital Assure include:

• Flexibility – cash benefits are paid directly to consumers, not a doctor or hospital, with no restrictions on how consumers use their benefits.
• Portability – consumers can keep their policy, even if they change jobs, move to a different state, retire or go on Medicare.
• Premiums stay the same – rates won't increase unless all rates of that kind are raised in a consumer's state.
• Guaranteed renewability for life – policies are guaranteed renewable as long as required premiums are paid on time.

Hospital Assure is for employees, retirees, self-employed individuals as well as spouses and families who have major medical insurance, but are faced with copays, deductibles and out-of-pocket costs. Hospital Assure is also an ideal solution for both large and small businesses looking to offer additional medical coverage as part of their benefits package.

Hospital Assure is currently available through Washington National insurance agents in 27 states: Alabama, Arizona, Arkansas, D.C., Florida, Georgia, Hawaii, Iowa, Illinois, Kansas, Kentucky, Louisiana, Maine, Michigan, Mississippi, North Carolina, North Dakota, Nebraska, New Mexico, Nevada, Oklahoma, South Carolina, South Dakota, Tennessee, Wisconsin, West Virginia, and Wyoming with availability in other states pending. The issue age is 18 to 69 and policy benefits may vary by state.

About Washington National Insurance Company

Washington National Insurance Company, a subsidiary of CNO Financial Group, Inc., has helped Americans since 1911 to protect themselves and their families from the financial hardship that often comes with critical illness, accidents or loss of life. The company's supplemental health and life insurance products are designed to help give policyholders and their loved ones' peace of mind. Policyholders can depend on Washington National to be a strong, caring partner in helping to provide financial security for them and their families. To learn more, visit WashingtonNational.com.

 

SOURCE Washington National Insurance Company

For further information: Valerie Dolenga, Washington National, (312) 396-7688, Valerie.Dolenga@CNOinc.com


News

November 29, 2018 Washington National Launches New Hospital Indemnity Insurance Product...
March 21, 2017 CNO Financial Group Announces Executive Leadership Changes...
February 22, 2016 HOPE Donates $50,000 to American Red Cross to Support National Disaster Rel...
February 16, 2016 HOPE Donates $100,000 to American Cancer Society for Genetic Research in Lu...
August 26, 2015 A.M. Best Upgrades Ratings of CNO Financial Group to A-...
September 30, 2014 Cancer Survivors Face Lasting Financial Struggles Long After Treatment Ends...
April 10, 2014 CNO Financial Group Recognized by Forbes as One of America's 50 Most Trustw...
December 18, 2013 HOPE Donates $50,000 to help St. Jude Children’s Research Hospital Deliver ...
November 07, 2013 HOPE Donates $100,000 to Support the American Cancer Society's National Res...
June 18, 2013 Perceived Risk of Critical Illness Diagnosis High Among Middle-Income Ameri...
May 29, 2013 Cancer Tops List of Health Concerns Among Middle-Income Americans, New Stud...
May 07, 2013 New Study Finds Alarming Number of Middle-Income Americans Inadequately Pre...
January 10, 2013 Gold Medal Gymnast Shannon Miller Teams Up with Washington National to Advo...
October 23, 2012 Washington National Honored with Two 2012 W3 Awards For Creative Web Excell...
August 22, 2012 Washington National Receives ‘Award of Excellence’ from IFCA...
May 10, 2012 Washington National Recognized as Official Honoree by Prestigious Webby Awa...
February 01, 2012 Washington National Title Sponsor of Wounded Warrior Amputees vs. NFL Stars...
November 17, 2011 Washington National Launches New Website...
June 14, 2011 Washington National Insurance Company Reinvents Term Life...

» More

News search

 

 

Media contacts

Valerie Dolenga
Phone: (312) 396-7688
Email Valerie

 

 

Policies underwritten by Washington National Insurance Company, home office: Carmel, IN. These policies have limitations and exclusions. For costs and complete details of coverage, contact an agent.

Policies, benefits and riders are subject to state availability. Not all listed options, benefits and riders are available on all policies, and some may have additional cost.

Washington National Insurance Company is not licensed and does not solicit business in the state of New York.

» Additional Illinois State resident information
» Additional New York State resident information
» Additional Oregon resident information
» Additional New Mexico State resident information
» Additional California State resident information
» Confidential insurance communication request form

183961