HM Insurance Group Rolls Out New Limited Benefit Medical Product
May 12 /PRNewswire/ -- HM Insurance Group announced today that it has added a limited benefit medical product to its portfolio of health risk solutions. A group indemnity plan. HM Care Advantage is designed to help employers bridge the gap for employees who traditionally have not had employer-sponsored health insurance available to them.
"There is strong market demand for limited benefit medical products that can provide health insurance coverage for the working uninsured. HM Insurance Group president and CEO. "We created a plan that can help to meet the unique needs and budget situations of a broad range of employers. Our approach puts control in the group's hands because it can customize our plan through more than one million benefit combinations."
Formerly known as Highmark Life & Casualty Group. HM Insurance Group offers health risk solutions through a connected portfolio of group products and services that includes stop loss. worksite and limited benefit medical plans.
Lebish explained that HM Care Advantage is designed to allow employers to select the number of visits. tests or hospital days and the amount of coverage for each benefit. Employers design a plan that can meet the group's health care needs and premium requirements. They also can offer the plan on a contributory or non-contributory basis to employees. HM Care Advantage has a core benefit component with built-in value-added services. The core benefits consist of physician office visits. daily in-hospital. first day of admission. surgical and anesthesia services and outpatient diagnostic testing. Bundled with the core benefits are health information resources. discounts for pharmacy. vision and fitness/wellness services and COBRA administration.
There also is the option for access to a provider network. Up to 11 additional insured benefits can be added. including emergency room visits. vision and prescription drug insurance.
Other distinct features that help to set HM Care Advantage apart from other limited benefit medical plans currently on the market include no limitations for pre-existing conditions and no overall calendar year or lifetime maximums beyond what is shown in the schedule of benefits. HM Care Advantage is guaranteed issue - no medical questions. individual underwriting or evidence of insurability are required. except for late enrollees. Pregnancy and newborn nursery care are covered. Physician visits for "sick" or "well care" and emergency room visits for accidents and illness are covered.
HM Care Advantage was developed in partnership with Key Benefits Administrators. Inc. (KBA). In addition to its reputation in customer service and claims administration. KBA's information-driven capabilities provided a strategic advantage to HM Insurance Group's desire to offer a plan with maximum customization.
"With the many features this plan offers. we are confident it will help fill the gap for uninsured workers. which is proving to be a major issue in the U.S. today." said Lebish.
Eight out of 10 people who are uninsured are in working families(1). The number of uninsured people in the U.S. is estimated to be in excess of 45 million and growing(2).
HM Life Insurance Company and HM Life Insurance Company of New York have received an "A-"(Excellent) rating from A.M. Best Company. one of the country's oldest and most respected rating agencies. HM Insurance Group consists of HM Life Insurance Company. HM Life Insurance Company of New York and HM Benefits Administrators.
Through its insurance companies. HM Insurance Group holds insurance licenses in 50 states and the District of Columbia. HM Insurance Group maintains 18 regional sales offices across the country. Not all products or services are available in all states.
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