Switzerland-based ACE Group has launched a new employee benefit solution, GAP Supplement, which can allow employees to supplement their existing medical plans.
The new product compliments an employer’s medical plan by reimbursing employees for covered out-of-pocket expenses.
GAP Supplement offers Hospital Benefit, which reimburses deductibles, coinsurance and other eligible out-of-pocket expenses for covered benefits incurred during inpatient hospitalization.
The product also offers Optional Outpatient Benefit that reimburses expenses incurred for hospital emergency room visits and use of outpatient surgical, diagnostic testing and other similar facilities.
In addition, it provides Optional Ambulance Benefit, which reimburses expenses incurred for transportation offered by a licensed ambulance company to the nearest hospital.
ACE USA A&H senior vice president Jaede Barg said that employers need a new way to manage their employee benefit plans in today’s changing health insurance market.
"Many employers have been forced to make hard decisions about their employee benefit plans — changes that can shift a greater financial burden to employees," Barg added.