Securian Financial Expands Its Insurance Offerings
Securian Financial has unveiled a strategic partnership with MASA, a leading emergency medical transportation provider, to significantly enhance its group accident insurance product. This collaboration aims to deliver exceptional ambulance coverage, ensuring that policyholders can access needed services without worrying about overwhelming out-of-pocket expenses.
Comprehensive Coverage: A Game Changer
What sets Securian Financial apart in the supplemental health insurance landscape is its commitment to comprehensive coverage. Unlike many other providers that offer flat dollar payouts for ambulance services, Securian Financial, in partnership with MASA, provides a unique benefit that fully covers the costs associated with both ground and air ambulance transportation. This means that employees covered under this insurance can receive emergency services, whether resulting from accidents or other health events, without financial strain.
The Financial Burden of Medical Transport
The financial implications of emergency medical transport can be staggering. According to recent data, a ground ambulance ride can cost an average of $2,000, while air transportation can surge to around $69,000. Unfortunately, even with health insurance, which may only cover in-network ambulance rides, there is a significant risk of incurring high costs. In fact, studies indicate that a substantial percentage of ambulance rides fall outside of these networks, making comprehensive coverage essential for employees.
Expert Insights
Industry experts have voiced their support for this groundbreaking partnership. Lydia Jilek, the second vice president of group life and voluntary benefits at Securian Financial, expressed her enthusiasm: “We are excited to collaborate with MASA to roll out a supplemental health insurance plan that stands out in the market by offering unmatched ambulance coverage. The high costs of emergency services can be daunting for employees; our goal is to alleviate these worries for both employers and their staff.”
Benefits for Employers and Employees
This partnership not only addresses the needs of employees but also enhances the offerings available to employers. Joe Heaney, president of MASA’s Business Group, stated, “With our combined efforts, we aim to provide peace of mind to Securian Financial's group accident insurance enrollees. Employees will have no need to fret over ambulance care affordability in critical situations.”
The Growing Need for Supplemental Health Insurance
Supplemental health insurance is becoming increasingly vital. Life events such as severe illnesses or accidents can unexpectedly disrupt a family's financial balance. These plans are designed to fill financial gaps that traditional insurance may leave open. They provide additional cash benefits that can help cover non-medical expenses like childcare, travel for treatment, and loss of income during recovery.
Market Growth and Company Stability
Securian Financial has reported a remarkable increase in its supplemental health benefit sales, witnessing a 119% growth compared to previous years. This underscores a growing awareness among companies about the importance of offering robust health insurance plans that include features like those provided through the partnership with MASA.
About Securian Financial and MASA
Securian Financial has been in operation for over 140 years, providing innovative insurance and financial solutions tailored to the needs of individuals and businesses. Trusted by a vast customer base, the company solidifies its reputation for quality and reliability across the insurance landscape.
MASA: A Legacy of Excellence
Founded in 1974, MASA has established itself as the leading provider of emergency transportation benefits. The organization covers emergency costs for millions across North America, fostering a safety net that alleviates the fears associated with unexpected medical emergencies.
Frequently Asked Questions
What does the partnership between Securian Financial and MASA offer?
The partnership provides comprehensive ambulance coverage as part of the group accident insurance, fully covering out-of-pocket costs for ground and air transport.
Why is this coverage important?
This coverage is crucial because it alleviates the substantial financial burdens associated with emergency medical transportation that may not be fully covered by standard health insurance.
How does supplemental health insurance work with primary insurance?
Supplemental health insurance works alongside primary insurance, covering additional costs not fully addressed by major medical plans, such as deductibles, co-pays, and other non-covered expenses.
Who can benefit from Securian Financial's services?
Employers looking to offer their employees enhanced insurance options can benefit from partnering with Securian Financial, especially those focused on providing comprehensive coverage solutions.
How has Securian Financial's supplemental health benefit sales performed?
Sales for Securian Financial's supplemental health benefits have increased significantly, with a reported growth of 119% compared to previous years.
