If we could hand pick our futures, all of us would choose health and wellness for ourselves, and everyone we love, everyday. But life is unpredictable and stuff happens. We never know what might be around the corner, so we try to plan the best we can. One of the most important protections is health insurance. Paying a monthly fee to cover health care costs resulting from unexpected illness or injury has provided millions of people with peace of mind and financial relief at critical times. But what if the unexpected illness or injury results in additional costs that are not medical in nature, and so are not covered under the medical benefit? What if a child is injured and the parent loses wages because of the inability to work for a few days? These additional costs – called ‘ancillary’ costs – can be a significant and unexpected financial hit at a time that may already be emotionally draining. To help individuals and families protect their health and income, cover the unexpected, and prepare for the future, Blue Cross Blue Shield of Michigan has entered into agreements with Assurity Life Insurance and LifeSecure Insurance to market a full portfolio of supplemental insurance products. This allows Michigan employers to offer employees this extra financial protection, alongside BCBSM medical, dental and vision offerings. Assurity’s options include:
- Simplified critical illness: pays a lump sum benefit when an insured individual or family member is diagnosed with a covered illness or undergoes a covered procedure. It has a simplified application process.
- Disability income: is an individual, guaranteed renewable (to age 67; conditionally to age 70) policy that provides benefits if an insured person is disabled and cannot work.
- Term life: helps insured individuals financially protect those who rely on them, in the event of a premature death. The policy’s cash benefit can help pay a family’s mortgage and other expenses.
LifeSecure’s options include:
- Hospital recovery: provides a benefit upon discharge from a hospital stay in order to help pay for services that assist in recovery. Can be used for rehabilitative services, transportation, home care, housekeeping help, child care, to pay daily bills or replace lost wages while away from work.
- Personal accident : protects individuals and families from high out of pocket costs by covering expenses resulting from an accidental injury. Can pay for a variety of medical expenses, including x-rays, medication, ambulance services, or for common life expenses bills, mortgage or child care.
- Long-term care: covers the expense of daily living care that a medical plan typically doesn’t cover, such as assistance with bathing, eating, dressing, and transportation. Covers care in the home, an assisted living facility and in a variety of other settings.