Symetra Enhances Employee Protection with New Deductible Endorsement
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Introducing Symetra's New Deductible Endorsement
Symetra Life Insurance Company is stepping up its game by unveiling a new critical illness step-down deductible endorsement. This initiative aims to provide self-insured employers enhanced protection, allowing them to manage expenses while offering comprehensive health coverage to their employees. With this new offering, employers partnered with Symetra who have stop-loss insurance and critical illness insurance can experience a more streamlined service, which translates to considerable cost savings and improved coverage options for significant health crises.
Empowering Employers and Employees
As the landscape of healthcare continues to evolve, Symetra is dedicated to being a preferred stop-loss provider. Their primary focus is helping employers who are self-funding their health plans keep healthcare costs manageable, while simultaneously protecting their employees from the financial burden of unexpected catastrophic medical events. Jeremy Freestone, senior vice president of Stop Loss Business Strategy at Symetra, emphasizes how this endorsement was developed with the intent to deliver both savings and critical illness protection, enhancing their existing policy.
The Benefits of the Step-Down Deductible
An exciting feature of this new endorsement is the provision for groups that have Symetra's Specific stop-loss coverage and critical illness insurance, which includes invasive cancer coverage. Under this new arrangement, qualifying cancer claims can help reduce specific deductibles by $5,000, offering significant financial relief to employers when their employees need critical care.
Conditions Covered by the Policy
This endorsement is versatile and can also cover various severe health conditions. In addition to invasive cancer, policyholders can opt-in for coverage relating to:
- Severe autoimmune diseases
- Complications arising from pregnancy
- Complications occurring at birth
- Stem cell (bone marrow) transplants
By including these conditions, Symetra is ensuring that employers can comprehensively protect their workforce against a broad spectrum of health risks.
About Symetra's Insurance Offerings
Alongside stop-loss insurance, Symetra offers a wide range of group coverage options including life, disability, and absence management insurance. Their collection of group supplemental health products complements many standard health plans, making it easy for employers to integrate additional layers of protection for their employees, especially when paired with high-deductible health plans (HDHPs) and health savings accounts (HSAs).
Learn More
For more insights about Symetra’s stop-loss insurance policies and additional coverage options, interested parties are encouraged to reach out to a Symetra Benefits representative. Symetra continues to be a forward-thinking leader in the realm of employee benefits, responding to the dynamic needs of businesses everywhere.
Company Information
Symetra Life Insurance Company is a proud subsidiary of Symetra Financial Corporation, an established diversified financial services provider with roots dating back to 1957. Based in Bellevue, Washington, the company is renowned for providing employee benefits, annuities, and life insurance through a well-developed network of benefit consultants, financial professionals, and insurance producers, ensuring a strong support system for their clientele.
To discover more about their extensive product offerings, Symetra invites individuals to visit their main website where they present a comprehensive overview of the services provided. Their commitment to innovation in insurance and benefit solutions continues to be a focal point in helping businesses create a robust safety net for their employees.
Frequently Asked Questions
What is the new step-down deductible endorsement?
The step-down deductible endorsement is a new option offered by Symetra allowing employers to reduce their Specific deductible when a qualifying cancer claim is made.
What conditions are included under this policy?
The policy includes severe autoimmune diseases, complications of pregnancy, complications of birth, and stem cell transplants.
How much can employers save with this new endorsement?
Employers can reduce their Specific deductible by $5,000 with a qualifying cancer claim.
What types of insurance does Symetra offer?
Symetra provides stop loss insurance, group life, disability, absence management coverage, and supplemental health insurance products.
Where can I learn more about Symetra's products?
More information can be accessed by visiting Symetra's official website or contacting a Symetra Benefits representative.
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