In business since 1892, Assurant Health provides health insurance coverage for more than one million people nationwide. Assurant Health develops and provides a wide range of individual medical, small group, short term and student health insurance products, including consumer-choice products such as HSAs and HRAs. With almost 3,000 employees, Assurant Health is headquartered in Milwaukee, WI, and has operations offices in Minnesota, Idaho and Florida, as well as sales offices across the country. Assurant Health products are issued and underwritten by Fortis Insurance Co., John Alden Life Insurance Co., and Fortis Benefits Insurance Co. Assurant Health is found at www.assuranthealth.com.
Their Beliefs
Assurant Health is built on the cornerstone of consumer choice — providing ongoing flexibility and choices in health financing solutions as well as choice of providers. The company's more than 200,000 local agents are dedicated to supporting their customers. Assurant Health has a reputation of integrity in honoring its commitments to customers.
Size, Stability, Strength
- Assurant Health is a leader in the individual medical insurance market.
- Assurant Health is one of the top sellers of temporary health insurance in the U.S.
- Assurant Health is one of the leading independent providers of health insurance to small businesses, individuals and their families, with more than one million covered lives.
- Assurant Health was one of the first companies to offer Health Savings Accounts, and is one of the top sellers of HSAs.
- Assurant Health offers a portfolio of Health Reimbursement Arrangements (HRAs) for small employer groups.
- Assurant Health's legal entities, Fortis Insurance Company and John Alden Life Insurance Company, have each been assigned an A.M. Best rating of A- (Excellent).
- Assurant Health is part of Assurant, a premier provider of specialized insurance products and related services in North America and selected other markets. Its four key businesses -- Assurant Employee Benefits; Assurant Health; Assurant Preneed; and
- Assurant Solutions -- have partnered with clients who are leaders in their industries and have built leadership positions in a number of specialty insurance market segments in the U.S. and selected international markets. Assurant, which is traded on the New York Stock Exchange under the symbol AIZ, has over $20 billion in assets and $7 billion in revenue. www.assurant.com
Financial Ratings
Rating: A- (Excellent)
Affiliation Code: g (Group)
Financial Size Category: IX ($250 million to $500 million)
Outlook: Stable
Action: Affirmed
Effective Date: June 21, 2005
Long-Term: a-
Outlook: Stable
Action: Assigned
Date: June 21, 2005
Plan Features
Assurant Health offers a choice of employer-sponsored plans designed for businesses with 2-50 employees.
When employers choose a medical plan from Assurant Health, they receive quality, dependable health insurance custom-tailored to meet their employees' diverse needs.
Consumer Choice Plans — discover how you and your employees can save money on medical expenses and become better consumers of healthcare services. This includes plan with Health Savings Accounts (HSAs) and Health Reimbursement Arrangements (HRAs).
Health Savings Accounts (HSAs) — An HSA offers flexibility for the employee because it is owned by the employee and is portable. HSA contributions can be made by the employer, employee, or a combination of both.
Health Reimbursement Arrangements (HRAs) — An HRA offers the most flexibility for the employer. The HRA is employer-sponsored and offers many design possibilities. If the employer does prefund the account, when an employee terminates, the employer retains ownership of the funds.
Major Medical
Network Plan — includes physician and hospital networks which have agreed to a lower, pre-negotiated fees but does not include an office visit copay. They are generally more economical than Network Copay Plans.
Network Copay Plan — choose this plan to take advantage of a wide variety of physician and hospital networks which have agreed to a lower, pre-negotiated fee. Employees and dependents pay only the selected copay amount for each covered visit to a physician's office, urgent care center or non-surgical outpatient facility.
Hospital-Only Network Plan — includes hospital networks which have agreed to a lower, pre-negotiated fee. This is a good choice where there is no local physician network or if the local physician network does not meet your employees' needs.
Indemnity Plan — offers your employees complete freedom to choose doctors and hospitals. This plan is best suited for those who live and work outside a PPO network area.
Plan Features*
Lifetime Maximum Choices — up to $8 million
Annual Deductible Choices — choose from $250 up to $10,000
Office Visit Copay Choices — offers a wide variety of copay options
Coinsurance Choices — select the amount employees pay after their deductible is met
Prescription Drug Coverage — choose drug deductibles from $0 to $500. Select from a wide variety of drug copay choices.
Healthy Lifestyle Plans
These plans are designed for people with healthier lifestyles. They provide desired coverage for routine checkups and other wellness services such as outpatient x-rays and lab tests that are important to health-conscious employees, as well as dependable coverage for medical services associated with life's unexpected events — all at economical premiums.
Plan Features
Lifetime Maximum Choices — up to $8 million
Annual Deductible Choices — $500, $1,000, $2,000, $3,000, $5,000, $10,000
Office Visit Copay — $20/$40 (for the first two visits)
Hospital Copay Choices — $500, $1,000, $2,000
Coinsurance Choices — 50% to 80%
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