Services are focused on helping employees reduce their out-of-pocket medical costs.
Newark, NJ, April 4, 2024–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) is a company that deals with sterilizations, long-term hospitalizations, drug use testing, and severe mental illness.
Voluntary or supplemental insurance refers to any employee-paid benefits that help pay for out-of-pocket medical expenses (such as copayments, coinsurance, and deductibles) that are not covered by health insurance.
As part of Prudential Group Insurance’s expanded suite of Critical Illness and Hospital Coverage insurance, new mental health benefits include screening for anxiety, mood disorders and substance abuse, as well as screening for the most diagnosed mental health conditions and severe It also includes compensation for mental illness. Expanded family benefits include coverage for surgical and non-surgical procedures, prenatal care, childbirth, and extended hospital stays for newborns.
“Adding a family member is a welcome milestone, but the associated medical costs can quickly add up,” says Jess Gillespie, head of product and underwriting at Group Insurance. “With nearly 20% of individuals struggling to pay for medical costs related to childbirth, it is important to reduce financial stress and support families during this critical time.”
Professor Gillespie said the journey to parenthood can be stressful and expensive for couples who have difficulty conceiving, adding that infertility affects an estimated one in five couples in the US.
Reduction of medical cost burden
According to a recent survey, about 75% of U.S. adults worry about paying unexpected medical bills, and about half say they can’t afford a $500 expense not covered by insurance.
“Employees are looking to their employers for benefits that will help them through important life events,” Gillespie said. “Prudential Supplemental Health Insurance helps employees cover unexpected medical expenses by paying a lump sum when they need it most.”
A simpler, better customer experience
Prudential also makes it easy for customers to understand their benefits with an easy claims process using simple language and seamless technology. It’s now easier than ever for employees to understand what is and isn’t covered.
For more information about Prudential’s supplement health solutions, please visit prudential.com/employers/group-insurance/products/voluntary-benefits.
About Prudential
Prudential Financial, Inc. (NYSE: PRU) is a global financial services leader with approximately $1.4 trillion in assets under management as of December 31, 2023, and one of the world’s leading active investment managers, with a portfolio of U.S. It operates in Asia, Europe, and other regions. latin america. Prudential’s diverse and talented workforce helps improve lives and create economic opportunity for more people by expanding access to investments, insurance and retirement security. . Prudential’s iconic rock symbol has symbolized strength, stability, expertise and innovation for nearly 150 years. For more information, visit news.prudential.com.
About group insurance
Prudential Group Insurance manufactures and sells group life insurance, long-term and short-term disability insurance, corporate and trust-owned life insurance to institutional customers in the United States, primarily for use within employee and member benefit plans. I am. The business also sells critical illness, accidental death, amputation and other ancillary insurance. Additionally, we provide plan management services related to insurance coverage and paid and unpaid leave for employees, including FMLA, ADA, and PFL.
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Kristen Doyle
201-835-4872
kristen.doyle@prudential.com
Marisa Amador
973-802-8969
marisa.amador@prudential.com
