New offerings, including Accident Medical Expense Reimbursement, Hospital Cash Indemnity and Annual Travel Insurance coverage, are designed to help close benefits gaps and provide supplemental financial protection
Arch Insurance North America (Arch Insurance, Arch) announced the launch of a suite of products designed to enhance employee benefit portfolios for insurance brokers and agents. The Voluntary Insurance Benefits suite provides flexible coverage options that can help employees address out-of-pocket medical expenses, supplement hospitalization costs and travel-related risks.
Designed to complement existing medical and benefits programs, the portfolio offers broad protection while requiring no medical underwriting for policy issuance. The suite includes three products:
- Accident Medical Expense: Reimburses insureds for actual covered out-of-pocket accident-related medical expenses incurred, subject to policy terms and limits.
- Hospital Cash Indemnity: Provides a daily indemnity benefit directly to insureds when they are hospitalized due to an accident or sickness. These benefits can be used at the employee’s discretion to help cover expenses such as medical bills, transportation, childcare or other incidental costs that may arise during recovery.
- Annual Travel Insurance: Protects employees and their families throughout the year during personal leisure travel, with benefits such as trip cancellation, trip interruption, emergency medical expenses, emergency evacuation, baggage delays and other travel-related protections. Employees enroll once annually and receive coverage for multiple trips throughout the year, subject to policy limits and terms.
“Employees increasingly value benefits that provide meaningful financial protection both at home and while traveling,” said Rebecca Raisley, Vice President of Accident Strategy & Business Development for Arch Insurance. “Our Group Voluntary Insurance Benefits suite addresses real-world gaps that many workers face today. From helping reimburse actual accident-related out-of-pocket medical expenses to offering year-round travel protection for personal trips, these solutions give employers a valuable opportunity to deliver benefits that employees can appreciate and use in their everyday lives.”
In addition to voluntary group insurance benefits, Arch Insurance offers short term disability and paid family and medical leave (PFML) in statutory states, employee accident and business travel accident coverage, Medical GAP insurance and more.
For more details, visit www.archaccidenthealth.com.
Explore Hrtech Articles for the latest Tech Trends in Human Resources Technology
