Product evolution reflects changing workforce needs
As demand grows, benefits carriers are expanding supplemental health products with updated designs, broader coverage and features that match today’s workforce needs.

“Supplemental health benefits provide a valuable financial buffer for employees,” Jilek says. “They also allow employers to add creative enhancements in response to changing needs.”

In turn, this drive for supplemental health product innovations includes:

• Accident insurance coverage enhancements range from expanded organized sports riders that provide added protection for active families to a comprehensive emergency transportation benefit that goes beyond flat dollar payouts and fully covers out-of-pocket EMS and ambulance-related services.
• Critical illness insurance continues to evolve with updated definitions and expanded condition lists that reflect insights from claims analysis and address coverage gaps. For example, some plans provided by Securian Financial now include benefits for cancers that metastasize after the effective date of coverage, even if the employer introduced or changed carriers after the employee’s original diagnosis. 
• Hospital indemnity insurance innovations provide added flexibility and support. One example is Securian’s early payout feature, which provides labor and delivery benefits at 36 weeks of pregnancy, giving parents access to the funds without having to wait until after the birth when filing a hospital indemnity claim can get overlooked (or feel overwhelming).

Broker guidance provides a valued differentiator

Broker guidance plays a critical role in helping clients select appropriate products and plan features. Carrier evaluations and recommendations are also key.

As a foundational step, demographic analysis of the employee population helps brokers identify the appropriate plan recommendations. Groups with a younger population may benefit more from accident and hospital indemnity coverage, while older employees may find greater value in critical illness benefits.

The claims experience is an essential consideration as brokers recommend supplemental health solutions to their clients. Carriers that effectively leverage the right mix of technology and customer service support to prioritize efficient claims processing can significantly improve employee benefits satisfaction and appreciation.

“It’s about strategically using technology to improve the experience without adding complexity,” Jilek notes. “We’re paying many wellness benefit claims in under a day, and, with the ability to scan and upload paperwork easily and integrations with medical plans, we’re often able to pay supplemental health claims within days, so people have the money when it’s needed most.”

As industry innovation continues to enhance supplemental health benefit features and service experiences, brokers have new opportunities to align their recommendations with unique client needs and deliver value in a rapidly evolving benefits category.

Learn about Securian’s innovative supplemental health offerings