America's Benefit Specialist October 2023

PRODUCT NEWS

customers, a household-improvement benefit that provides $500 for home modifications that help policyholders remain at home, and a care-coordination benefit that provides $500 to help set up a care plan when the need arises.

mental health benefits/resources from their employer. Interest in such resources is specifically high among Generation Z (74%), caregivers (71%) and those with children at home (60%). Voya is introducing two riders to its critical-illness-insur ance offering, which pays a lump-sum benefit upon the diagnosis of a covered illness or condition. These benefit payments can be used by employees for any purpose, includ ing out-of-pocket medical costs, unplanned expenses and non-medical bills. The new riders present: • expanded coverage for covered mental illness and/or neu rodevelopment disorders (such as Attention-Deficit/Hy peractivity Disorder and Autism spectrum disorder), where employers can tailor the coverage levels and conditions based on the needs of their own employees. • enhanced coverage enabling the employer to offer an additional benefit percentage for a covered condition. As an example, an employer could elect to offer an addition al 15% enhanced benefit for a covered cancer diagnosis, which would be in addition to the 100% critical-illness benefit amount that is paid based on the base schedule. The enhancements to Voya’s accident-insurance offering, which pays benefits for specific injuries and events resulting from a covered accident, also include two features that are expected to make this coverage appealing for employees: Family Care will now provide benefits for adult care when the insured individual is confined in a hospital as the result of a covered accident. This expanded coverage is anticipat ed to be particularly beneficial for caregivers, providing an additional resource to support continuity of care for their loved ones in the event the insured caregiver is hospitalized. Mental Health Therapy has also been added to the benefit schedule and pays a benefit for psychological or psychiatric care prescribed by a doctor and provided in an office, hospi tal or other eligible facility on an inpatient or outpatient basis after a covered accident. The supplemental insurance solutions offered by Voya are offered through the workplace as voluntary or employee-se lected coverage that are processed and administered simi larly to traditional group insurance. Employers may choose to fund the plan for their employees, offer it as an option employees can purchase through their workplace benefits, or create a combined option in which the employer pays a portion of the benefit, and the employee can purchase addi tional coverage.

ANTHEM BCBS INTRODUCES VIRTUAL-FIRST HEALTH PLANS Anthem Blue Cross and Blue Shield in Connecticut has an nounced its Anthem Link Virtual First health plans to eligible members in select commercial health plans. Anthem Link Virtual First plans give individuals affordable access to virtu al-care options, including access to a symptom checker driv en by artificial intelligence, routine wellness care and chronic condition management, along with behavioral healthcare. Through Anthem’s digital health platform, Anthem Link Virtual First health plans can connect care data from various visits and providers throughout the healthcare system. In many cases, interoperability—or the ability to exchange data—allows care data to move between virtual first provid ers, in-person doctors and specialists more seamlessly. This helps enhance the healthcare experience for consumers by reducing redundancies as people go from one care setting to another and, as appropriate, giving providers easier access to previous health information. The Anthem Link Virtual First plan is accessible through the Sydney Health app. Members can access benefits, cost-transparency tools and resources they need 24/7. Members can expect virtual-first plans offered by their employers that provide a variety of cost-share options including no coinsurance for virtual care, guiding members to more affordable, high-quality digital care. In addition to having convenient access to virtual care, members can also see in-person doctors and specialists in Anthem’s network of providers. Anthem Link Virtual First plans will be available to eligible members enrolled in Anthem’s large group fully insured and self-funded plans starting January 1, 2024. VOYA FINANCIAL EXPANDS ITS CRITICAL ILLNESS AND ACCIDENT INSURANCE Voya Financial recently unveiled several enhancements to its critical-illness and accident-insurance offerings—two supple mental health insurance products that have become increas ingly popular components of employers’ benefits packages. The enhancements to both offerings provide mental health benefits and come at a time when new Voya research has found that more than half (54%) of working Americans strong ly or somewhat agree they are interested in receiving more

SUN LIFE LAUNCHES ENHANCED DISABILITY COVERAGE FOR HEALTHCARE PROFESSIONALS Sun Life U.S. has announced an enhanced package of disabil ity coverage options designed to meet the unique needs of

benefitspecialistmagazine.com | ABS 19