Prudential Introduces New Voluntary Workplace Insurance Offerings to Support Family Building and Mental Health

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Prudential Financial, Inc. has announced the introduction of new voluntary workplace insurance offerings aimed at helping employees reduce out-of-pocket medical costs. The benefits include coverage for fertility procedures, extended hospital stays, screenings for substance use, and severe mental illness.

Voluntary or supplemental insurance refers to optional benefits that employees can pay for to cover medical expenses not covered by their health insurance, such as co-pays, co-insurance, and deductibles. Prudential Group Insurance’s expanded suite of Critical Illness and Hospital Indemnity insurance now includes mental health benefits, such as screenings for anxiety, mood disorders, and substance abuse, as well as coverage for the most diagnosed mental health conditions and severe mental illness. The expanded family benefits include coverage for surgical and nonsurgical procedures, prenatal care, childbirth, and extended hospital stays for newborns.

According to Jess Gillespie, head of Product and Underwriting in Group Insurance, nearly 20% of individuals struggle to pay medical bills related to childbirth. The new offerings aim to reduce financial stress for families during important life moments. In addition, the insurance aims to ease the strain of medical costs by providing a lump sum benefit when needed most.

Prudential has also focused on improving the customer experience by offering a simple claims process using easy-to-understand language and seamless technology. The company aims to provide employees with a clear understanding of what is and isn’t covered by insurance.

For more information on Prudential’s Supplemental Health solutions, visit prudential.com/employers/group-insurance/products/voluntary-benefits. Prudential Financial, Inc. is a global financial services leader with operations in the United States, Asia, Europe, and Latin America. They offer a range of investing, insurance, and retirement security solutions.

Source: <a href="https://www.businesswire.com/news/home/20240404432800/en/

Prudential Financial, Inc. operates in the financial services industry, providing a range of investing, insurance, and retirement security solutions. The company has recently introduced new voluntary workplace insurance offerings to help employees reduce out-of-pocket medical costs.

In the insurance industry, voluntary or supplemental insurance refers to optional benefits that employees can pay for to cover medical expenses not covered by their health insurance. Prudential Group Insurance has expanded its suite of Critical Illness and Hospital Indemnity insurance to include mental health benefits and family benefits. This expanded coverage now includes screenings for anxiety, mood disorders, and substance abuse, as well as coverage for the most diagnosed mental health conditions and severe mental illness. Family benefits include coverage for surgical and nonsurgical procedures, prenatal care, childbirth, and extended hospital stays for newborns.

One of the reasons behind these new offerings is to reduce financial stress for families during important life moments. According to Jess Gillespie, head of Product and Underwriting in Group Insurance, nearly 20% of individuals struggle to pay medical bills related to childbirth. Prudential's aim is to provide a lump sum benefit when needed most, helping ease the strain of medical costs for families.

Prudential is also committed to improving the customer experience by offering a simple claims process, using easy-to-understand language, and utilizing seamless technology. This approach ensures that employees have a clear understanding of what is and isn't covered by their insurance.

For more information on Prudential's Supplemental Health solutions, you can visit their website at prudential.com/employers/group-insurance/products/voluntary-benefits.