Voluntary Hospital Indemnity and Supplemental Medical Products

Cost: $3,500; published 2022

Voluntary hospital indemnity and supplemental medical products continue to evolve to meet the needs of today’s employers and employees — filling gaps left by major medical coverage and providing a way to offset other out-of-pocket costs associated with increasingly popular high-deductible health plans and health savings accounts. Key issues for carriers in this market include ever-changing regulations, increasing numbers of carriers and products in the market, and the variety and amounts of benefits offered.

The 2022 Voluntary Hospital Indemnity and Supplemental Medical Products Spotlight™ Report examines the current voluntary hospital indemnity and supplemental medical products of leading carriers in the market. Specifically, the report looks at:

  • Overall market/sales results and trends
  • Product structure and benefits paid
  • Product differentiation and positioning
  • Underwriting guidelines
  • Rates and commissions
  • Claims problems, payment and integration practices
  • Sales and product results
  • Current challenges and future trends

With this data, carriers can evaluate their own products and strategies to determine if changes are needed to make their offering more competitive.

View Table of Contents

1. Executive Summary

A. Report Objectives

B. Methodology

C. Key Findings

2. Market Overview

A. The Overall Market

B. The Employer Perspective

C. The Employee Perspective

D. The Broker Perspective

E. Key Competitors

3. Product Details by Carrier

A. Product Structure and Specifics

1. Definition of Voluntary

2. Employer Contributions Allowed

3. Years Product on the Market and Last Revision

4. Product Platform

5. In-Hospital Confinement Benefits

6. Hospital Admission Benefit

7. Observation Benefits

8. Physician’s Benefit

9. Rehabilitation Facility Benefit

10.Outpatient Benefits

11. Intensive Care Benefit

12. Wellness, Screening or Preventative Benefits

13.Well Baby/Healthy Newborn Hospitalization Benefit

14. Other Benefits – Ambulance, Lodging/Transportation & Diagnostic Tests

15. Other Benefits – Prescription Drugs, ER/Urgent Care & Inpatient Surgery/Anesthesia

16. Other Additional Benefits

17. Pregnancy Waiting Period

18. Elimination Periods

19. Pre-Existing Exclusions

20. Coverage for Mental and Nervous Disorders

21. Coverage for Substance Abuse

22. Other Limitations or Exclusions

23. Policy Renewability

24. Coverage Termination

25. Benefit Reduction at Any Age

26. Other No-Cost Benefits/Value-Added Services

27. Additional Riders or Optional Benefits

28. Product Differentiators

29. Portability (Group Products)

30. Product Positioning

B. Underwriting

1. Account Eligibility Guidelines

2. Ineligible Accounts/Industries

3. Employee Eligibility Guidelines

4. Actively at Work Definition

5. Guaranteed Issue Guidelines

6. Simplified Issue Guidelines

7. Simplified Issue Questions

8. Other Simplified Issue Questions

9. Full Underwriting Guidelines

10. Open Enrollment Options

11. Late Entrants

12. Renewal Process

13. Utilization Reporting During Renewal Process

C. Rates

1. Published vs. Census Rates

2. Pricing Structure

3. Spouse and Dependent Child Coverage

4. Premium Rate Comparisons

D. Commissions

1. Writing-Level Commissions

E. Claims

1. Claims Problems

2. Average Speed of Claims Payment or Denial

3. Percent of Claims Denied

4. Current Loss Ratio Expectations

5. Claim Integration Practices

4. Product Results, Challenges and Future Trends

A. Product Results

1. 2021 Sales Results

2. Average Participation

3. Persistency/Retention

4. Profitability

5. Average Annual Premium per Employee

6. Typical Policyholder and Account Demographics

7. Most Common Plan Design

8. Takeovers vs. New/Virgin Cases

B. Challenges & Future Trends

1. Product Challenges

2. Current and Future Product Trends

3. Product Changes Due to Diversity, Equity & Inclusion Initiatives

4. Product Changes Due to Regulations



To purchase Reports: Call (860) 676-9633 or email [email protected]

Spotlight™ Report Index


For more information, please contact us at [email protected] or (860) 676-9633.



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