METLIFE TRANSFORMING SUPPLEMENTAL HEALTH EMPLOYEE BENEFIT PRODUCT SUITE TO MEET NEEDS OF THE CHANGING WORKFORCE
New Hospital Indemnity Solution Now Available, More Enhancements to Products and Service Coming in 2018
NEW YORK, January 23, 2018
To meet the needs of today’s workforce – and the workforce of the future – MetLife, Inc. (NYSE: MET), the largest provider of non-medical employee benefits in the U.S, is transforming its supplemental health product suite, which includes voluntary benefits that help employees cover out-of-pocket costs, such as co-pays, deductibles, child care, and transportation, not covered by traditional medical insurance plans.
MetLife’s enhanced hospital indemnity solution, which is now available, offers new benefit options including child care, transportation, lodging and prescription drugs. The new plan is also modular, with standard plans and optional benefits employers can select to customize their coverage.
For employees’ ease and convenience, the plan contains no age restrictions for participants or spouses and covers children up to 26 years of age.1 Payments are made in lump sums for employees to use as they choose. Consultative customer service is provided 24/7 to help employees understand the scope of their coverage and answer any questions they may have.
“Health care costs are keeping Americans up at night,” said Todd Katz, executive vice president of Group Benefits at MetLife. “Employees are living paycheck to paycheck, which means one unanticipated medical expense can bring tremendous financial stress and hardship. By enhancing our supplemental health offerings, we’re able to provide greater support to employers, as they focus on meeting the needs of their workforce, and employees as they work to achieve financial security – particularly when it comes to protection against unexpected medical expenses.”
New accident insurance and critical illness insurance products, as well as service enhancements across the product suite like streamlined claims processes and communications, will also roll out in the coming months.
“Employees today expect not only products, but experiences, that meet their needs,” added Katz. “That’s why we’re taking a holistic approach to improving our supplemental health products in parallel with improving and simplifying the service experience for employees.”
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates ("MetLife"), is one of the world's leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
1 Coverage for domestic partners, civil union partners and reciprocal beneficiaries varies by state. Please contact MetLife for more information. Chidlren may be covered to age 26. There are benefit reductions that begin at age 65.
MetLife’s Hospital Indemnity Insurance is a limited benefit group insurance policy. The policy is not intended to be a substitute for medical coverage and certain states may require the insured to have medical coverage to enroll for the coverage.