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Guardian Launches Consumer-Driven Healthcare Plan
The new offering combines a high-deductible plan with a triple tax-free health savings account and supplemental critical illness coverage.
By
Anthony O'Donnell
May 05, 2009
The Guardian Life Insurance Company of America has debuted what the carrier describes as a comprehensive, high-deductible healthcare plan that helps employers and their employees save money on healthcare, while providing a broad array of benefits. The plan, available in select states, combines a high-deductible plan (HDHP) with a triple tax-free health savings account (HSA) and supplemental critical illness coverage, according to a Guardian source.
The combination plan offers members an additional source of funds that can be used for any reason, should they be diagnosed with certain serious illnesses or face an extended hospital stay for any other reason, according to Guardian. The plan also includes 100 percent coverage for preventive healthcare and access to Guardian's network of providers.
"In today's challenging economy, it's more important than ever to employers -- and employees -- to rein in healthcare costs without sacrificing benefits or quality," says Tim Bireley, the carrier's vice president of group medical. "This plan provides mid-sized and smaller companies with access to a lower cost, comprehensive healthcare option without reducing benefits for employees."
Guardian's new plan has been designed in response to consumer attitudes and concerns about healthcare expressed in a nationwide healthcare survey conducted by Opinion Research Corporation for Guardian in Dec. 2008, the carrier source suggests. "The Guardian survey showed that although 60 percent of people say that they know about HSAs, there is still widespread confusion about HSA benefits. More than 80 percent of those surveyed were not aware of the features and advantages they provide such as tax-free savings for healthcare costs," Bireley comments.
Addressing misperceptions about HSAs and high-deductible plans, Guardian offers services such as access to a certified enrollment specialist, on-site enrollment meetings, and an employee benefits hotline to field questions and provide information to plan participants, according to the carrier source.
Guardian is also introducing enhanced wellness features that will provide participants with a broad range of tools and services to help them take an active role in managing their health, the source says. Through the plan, consumer will have access to an array of advice and information resources to help them make better health care decisions as well as alternative medicine discounts to give them more options for staying healthy, according to Guardian.
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