MetLife improves hospitalization insurance policy

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MetLife, the largest provider of non-medical benefits in the United States, has upgraded its hospital insurance policy as part of an increased effort to update its line of additional employee benefits.

The Hospital Compensation Policy, which provides a lump sum to participants to pay for out-of-pocket expenses related to hospitalization, now includes child care, transportation, lodging and prescription drugs.

“The need continues to increase [for hospital indemnity insurance]Says Todd Katz, executive vice president of group benefits at MetLife.

See also: 5 benefits trends to watch in 2018

Even with health insurance, the average consumer will spend about $ 1,000 out of pocket for a hospital stay – a financial hardship for six in 10 Americans who don’t have $ 500 in their savings account, he says. .

MetLife’s standard hospital insurance plan costs around $ 25 per month, which Katz describes as “fairly affordable,” and notes that the voluntary benefit is starting to get good enrollment rates as consumers face costs. of premium croissants.

The insurer has announced that it will be implementing improved accident and critical illness insurance policies in the coming months.


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