ING U.S. Offers New Hospital Indemnity Coverage to Help Round Out Employees’ Benefits

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Changing employee landscape and health care reform drive demand for greater voluntary insurance options at the workplace

MINNEAPOLIS , July 15, 2013 /PRNewswire/ — ING today announced the launch of a new insurance that can and their families reduce the financial burden of costly stays. The Compass Confinement Indemnity Insurance offering, available through an employer’s workplace benefits program, is a limited benefit policy that provides fixed payments when an individual is admitted to a .

“With the addition of hospital indemnity coverage, we’ve expanded our Compass product suite to help employers offer affordable and flexible insurance benefits to employees with minimal administrative hassle while providing a well-rounded and affordable benefits package to their employees,” said Heather Lavallee, president of ING U.S. employee benefits distribution. “This development underscores the commitment ING U.S. has to growing its voluntary insurance business, and for delivering innovative, flexible options we know our distribution partners and clients need.”

The Compass voluntary product suite launched in 2012 with accident and critical illness offerings. Designed like group benefit options rather than traditional voluntary products, the Compass suite easier administration for employers with a targeted solution for employees. In addition, employers can mix and match different plan options to meet the needs of their particular workforce.

With the convergence of health care reform, rising medical costs and a shift to high deductible health plans, voluntary benefits are evolving to meet the market need and can provide fixed insurance benefits upon the occurrence of an event such as a hospital confinement. The approach of the ING U.S. Compass suite focuses on making it easier and more flexible for employers and employees to understand and manage their…Read more

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