Wellness benefits are commonly offered with voluntary supplemental health products, finds Eastbridge Consulting Group

AVON, CONNECTICUT, USA (January 28, 2020)

Of the 32 carriers participating in Eastbridge’s recent survey, most offer wellness benefits on at least one voluntary supplemental health product (voluntary critical illness, accident, hospital indemnity/supplemental medical, and/or cancer). Wellness benefits are typically offered as optional rather than built-in benefits. Some of the key findings from the Voluntary Wellness Benefits study include:

  • Most carriers offer multiple filing options in addition to paper form by mail, with an average of three claims-filing methods.
  • A third of carriers require a waiting period for wellness benefits and most do not require a charge to be incurred before paying a wellness benefit.
  • Carriers cover an average of 28 wellness tests/screenings though the number varied significantly by carrier.
  • The future opportunity for wellness benefits is mixed, as some carriers see increasing demand from employer/brokers, while others predict decreasing demand as employers implement other wellness plans or state regulations become more restrictive.

Voluntary Wellness Benefits is an Eastbridge Frontlineā„¢ Report.

Eastbridge Information Partners as well as survey participants receive the Frontlineā„¢ Report free of charge. For more information regarding the Information Partner program or about Eastbridge reports, email us at info@eastbridge.com visit us at eastbridge.com or call 860-676-9633.

Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.


 

Press Release Index