Navigation Links
Leading Supplemental Insurer Recommends Insurance Review Following Annual Benefit Enrollment Period

Supplemental insurance can be option to fill gaps and offset rising employee-paid healthcare costs.

Chicago, IL (PRWEB) February 10, 2009 -- Now that most employers have completed their annual benefit enrollment period, Combined Insurance, a leading provider of supplemental insurance, recommends employees assess their insurance benefits and coverage to identify potential gaps in coverage due to changes in their employer-sponsored plans.

"The current economic environment drove many employers to reduce benefit plan options and to require employees to share more of the cost of their insurance benefits," says Becky Mills, vice president, research and development at Combined Insurance. "This creates the potential for people to be 'financially exposed' as their primary insurance benefits may not cover as much as they used to and their premiums, co-pays and out-of-pocket expenses may be higher. For people in this situation, supplemental insurance - also known as gap insurance - can be an attractive option."

Supplemental insurance is a separate insurance policy which provides benefits that can be used to add to or 'supplement' life and accident & health coverage and can provide additional benefits to help support workers faced with shrinking employer-paid healthcare and rising out-of-pocket costs.

Employers Offering Fewer Worker Health Care Plans

According to a recent New York Times article, "Employers Offer Workers Fewer Health Care Plans," while many employees are fortunate enough to have a job at a company that still offers health insurance benefits, the health plan could have a high annual deductible that is likely to be $1,100 or more for an individual and much higher for family coverage.

Other statistics show that prices will continue to rise. A recent survey by Watson Wyatt reports 46 percent of employers have raised employee contributions for health insurance benefits or plan to do so in the coming year.

Supplemental insurance can be a financial lifesaver

"If your employer has reduced sponsored benefits or increased your share of insurance benefits costs, you might want to consider a supplemental insurance plan that provides specified benefits that can help fill the gaps in your coverage or help offset additional out-of-pocket costs," states Mills. She recommends employees take the time to review their current coverage to identify:

  • Shortfalls or gaps in insurance compared to their previous coverage,
  • Changes in co-pay and/or deductible amounts and
  • Adjustments in out-of-pocket limits.

"With a solid understanding of what primary insurance benefits cover and what they don't, an employee can take the necessary steps to obtain supplemental insurance to ensure optimum protection," adds Mills.

"Supplemental insurance policies are available for a wide range of situations with an equally broad range of benefits in all price ranges," continues Mills. "We recommend contacting an insurance agent who can help identify available options."

About Combined Insurance Combined Insurance ( is a leading provider of supplemental accident, health and life insurance products and is a member of The ACE Group of Companies. With a field sales force and corporate staff of nearly 9,000 people worldwide, Combined Insurance meets the growing coverage needs of policyholders around the globe. For more information, call 1-800-490-1322 or visit

About ACE
The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE: ACE), The ACE Group of Companies conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at

# # #

Read the full story at

Source: PRWeb
Copyright©2009 Vocus, Inc.
All rights reserved  

Related medicine news :

1. The ScottCare Corporation Completes Acquisition of Rozinn Electronics, a Leading Manufacturer of Cardiac Diagnostic Products
2. Omnicom Acquires Leading Healthcare Marketing Communications Firm in China
3. Leading Child Abuse Center Releases Back to School Tips to Protect Children From Internet Predators
4. Leading-edge body sensor could help produce sporting champions
5. Hospital Quality Info on Web Can Be Misleading
6. AT&T Establishes New Network Services for Leading Medical Liability Insurer
7. Video and Photo: Leading CEOs Launch Alliance With American Red Cross to Strengthen Nations Preparedness for Disasters
8. FDA Approves Expanded Labeling for Campath(R) to Include First-line Treatment for Leading Form of Adult Leukemia
9. Sentillion Positioned in Visionaries Quadrant in Leading Industry Analyst Firms User Provisioning Magic Quadrant
10. Leading Asthma and Allergy Author and Counselor Joins The HealthCentral Network As Expert
11. Long Term Care Insurance Gains Momentum Thanks to State Promotions, a Leading Brokerage Reports
Post Your Comments:
Related Image:
Leading Supplemental Insurer Recommends Insurance Review Following Annual Benefit Enrollment Period
(Date:11/25/2015)... ... 25, 2015 , ... On November 10, 2015, Bohrer Brady, LLC filed a ... behalf of a home health care worker who provided companionship services for the elderly, ... workers employed by Humana, Inc., Humana at Home, Inc., and SeniorBridge Family Companies (CT), ...
(Date:11/25/2015)... ... November 25, 2015 , ... According to an article published November ... more widely heralded as a breakthrough for performing hernia repairs. The article explains that ... surgery is that it can greatly reduce the pain that a patient might otherwise ...
(Date:11/25/2015)... OH (PRWEB) , ... November 25, 2015 , ... Dental ... implants in Cleveland, OH , are invited to attend Dr. Mark Iacobelli’s Advanced Implant ... this year in Cleveland, OH. , As the co-founders of Advanced Implant Mentoring ...
(Date:11/25/2015)... ... November 25, 2015 , ... ... athletic programs, launches new Wimbledon Athletics Facebook page to educate the ... for unsuspected cardiac abnormalities. About 2,000 people under the age of 25 die ...
(Date:11/25/2015)... ... November 25, 2015 , ... On November 23rd 2015 Cozy Products, ... personal heating products business. Cozy Products explains what this means for business moving forward. ... with the Cozy Products business model: to sell personal heaters that reduce energy consumption, ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... PUNE, India , November 26, ... --> --> ... Research Report" and "Investigation Report on ... 2019 and 2021 forecasts data and ... library. . ...
(Date:11/26/2015)... , Nov. 26, 2015 Research ... addition of the "2016 Future Horizons and ... (TDM) Market: Supplier Shares, Country Segment Forecasts, Competitive ... --> --> ... analysis of the Italian therapeutic drug monitoring market, ...
(Date:11/26/2015)... , November 26, 2015 ... the addition of the  "2016 Future ... European Cell Surface Marker Testing Market: ...  report to their offering.  --> ... addition of the  "2016 Future Horizons ...
Breaking Medicine Technology: