Group Health Expense

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Product

A group health expense policy reimburses health expenses, detailed in the policy, that are incurred by the insured person which are not covered by government programs. A group health expense policy is typically issued to the plan sponsor which may be your employer, union or other association.

A group health expense policy is a health expense benefit under Assuris protection.

Assuris Protection

If your life and health insurance company fails, Assuris will ensure that the coverage under your group health expense policy will continue until the earlier of:

  • The next renewal date for your group contract, or
  • Six months from the date of failure of the member company.

Assuris guarantees that you will retain up to $250,000 or 90% of your health expense benefit, whichever is higher.

Example 1

Health expense

$130,000

Original
benefit amount

Since your health expense benefit is less than $250,000, you will retain your full benefit amount.

$130,000
Protected benefit amount

Example 2

Health expense

$300,000

Original
benefit amount

Since your health expense benefit is more than $250,000, you will retain 90% of your benefit amount.

$270,000
($300,000 × 90%)
Adjusted benefit amount