Insurance carrier Nationwide and InsurTech Brella have partnered with AccuRisk Solutions to deliver a cost-effective supplemental health insurance plan.
The plan, called Nationwide Provide, will pay out upon diagnoses and offer benefits for certain conditions with no accident or hospitalisation requirements.
is designed to help ease the burden of unexpected, out-of-pocket medical bills for employees and increase their peace of mind.
Founded in 2019, Brella Insurance is an insurance technology company on a mission to build a world where health hardships don’t create financial hardships.
AccuRisk Solutions has positioned itself as a leader in health solutions innovation. The company offers traditional insurance products alongside advanced risk mitigation solutions. Its offering includes underwriting, data analytics, claims and policy administration, distribution, to comprehensive benefit plan design.
Nationwide said the new benefit plan from the two companies comes at a time when less than 40% of Americans say they could pay an unexpected medical bill of $1,000. With rising inflation and unprecedented employee turnover, Nationwide said the product is positioned to help employers offer a benefit that helps ease the financial strain of out-of-pocket medical costs.
While the plan does not require coordination of benefits with a major medical plan, it is not intended to, nor does it meet the requirements of a comprehensive major medical plan of insurance, the company added.
Mike Zarrillo, chief revenue officer at Brella, said, “We’re extremely excited to team up with Nationwide and AccuRisk to help make health hardships less of a financial burden for people today. The partnership will help thousands of Americans receive benefits that can ease the financial stress that comes with health-related out-of-pocket costs.”
Earlier this year, Glovebox, a client experience platform for insurance agents and carriers, partnered with insurance carrier Nationwide to deliver a digital policyholder service experience via the GloveBox technology.
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