Crum & Forster initiates a health insurance product intended for employers to cover medical expenses not fully covered by existing plans
Crum & Forster, a national commercial property and casualty group of insurance companies rated "A" Excellent by A M Best (2024), has launched a new product designed to help employers manage rising healthcare costs and offer high-value benefits to employees. The product, known as C&F Employer Medical Gap Insurance, is now available in many states and can be customized for a wide range of employer groups.
Key Features of C&F Employer Medical Gap Insurance
- Integration with Major Medical Plans: The insurance works alongside major medical plans, complementing high-deductible health plans and offering optional riders for services such as doctor's visits, prescription drugs, and ambulance transport.
- Flexible Plan Design: Employers can tailor benefit, coinsurance, and deductible amounts to suit their plan design, with coverage available for groups as small as 10 employees.
- Simplified Claims Process: Employees present both their major medical and gap insurance cards at the point of care, with participating providers managing claims directly. No employee claim forms are required, and reimbursement is handled without delay.
- Customization and Availability: The product is underwritten by Monitor Life Insurance Company of New York and is available in multiple states, customizable for a wide range of employer groups.
Benefits of C&F Employer Medical Gap Insurance
- Reduced Out-of-Pocket Costs: By providing additional financial protection, the insurance helps reduce financial strain on employees by covering gaps in major medical plans.
- Competitive Benefits for Employers: The insurance assists employers in offering competitive benefits to attract and retain employees.
- Convenience and Efficiency: The claims process is designed for simplicity, offering a seamless and hassle-free experience for employees, enhancing the overall healthcare experience.
Optional riders are available for doctor's office visits, prescription drugs, and ambulance services. The product is commissionable for brokers.
For media inquiries, please contact Amy Whilldin, AVP of Public Relations & Communications at Crum & Forster, at [email protected]. The original content of the press release can be viewed at Cision PR Newswire.
Crum & Forster places a strong focus on product development, creative distribution methods, client service, and support. Since 2000, Crum & Forster's Accident & Health Division has offered a diverse portfolio of specialty insurance and reinsurance products nationwide. The company also has the ability to provide international Accident & Health solutions through an innovative captive structure and various partnerships with affiliated entities.
- The C&F Employer Medical Gap Insurance, with its integration with major medical plans and optional riders for services like doctor's visits, prescription drugs, and ambulance transport, can assist employers in offering high-value benefits to employees, helping reduce out-of-pocket costs and providing competitive benefits in the finance and business sector.
- In an effort to manage rising healthcare costs and cater to the demands of cloud-driven business environments, Crum & Forster, rated "A" Excellent by A M Best, has launched C&F Employer Medical Gap Insurance, a product available in many states and customizable for a wide range of employer groups, providing simplified claims processes and flexible plan designs - a strategic move that aligns with their focus on product innovation and client service.
