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To our policyholders in areas affected by the recent hurricanes, please know that the thoughts and prayers of everyone at Aflac are with you. We are working with government agencies that represent all declared disaster areas to ensure we do everything possible to help you. Based on that guidance, we have extended the due dates for policy premiums by 60 days for those living in places that have been declared disaster areas. If you have a question about your policy or need help, contact us at 800-992-3522. To help with the recovery, Aflac made a $500,000 donation to the American Red Cross, and our employees are making their own private contributions. Please be safe, as the care of you and your families is paramount.
It’s not like major medical coverage because it pays policyholders cash benefits when they’re sick or injured to help protect their financial security and way of life.
Aflac pays policyholders directly, unless otherwise assigned, to help provide for out-of-pocket expenses such as travel costs for treatment, mortgage or bill payments while you’re out of work, child care or other unexpected costs.
Major medical pays doctors and hospitals for covered expenses, such as treatments, procedures and prescriptions.
Aflac is portable, even if your employment changes.
Major medical isn’t transferable when you change jobs or become unemployed.
Aflac pays you regardless of what your major medical plan pays.
Major medical coordinates with multiple plans to determine the claims paid.
Aflac policies are considered HIPAA excepted benefits because they are not major medical health coverage. This means they are offered separately from major medical coverage and are not an integral part of an individual’s health plan. Being excepted, these benefits are generally excluded from rules and regulations designed for major medical coverage.1
Reduces the financial impact of an accident by providing cash benefits.
Helps with out-of-pocket costs if you experience a covered health event, such as a heart attack, stroke or paralysis.
Provides a lump-sum cash benefit if you’re diagnosed or treated for a covered critical illness event, such as a heart attack, stroke or paralysis.
Eases the financial burden associated with hospital stays due to an accident or illness by providing cash benefits.
Provides benefits for periodic checkups and cleanings, X-rays, fillings, crowns and much more.
Helps with the costs of eye exams, treatments and vision correction materials.
Provides a lump-sum cash benefit if you’re diagnosed with cancer.
Helps with the costs associated with cancer treatment.
Provides you with a source of income if you’re disabled due to an accident or illness – it can even help with maternity leave.
Helps with unexpected costs if something happens to you.
“Nearly half of Americans would have trouble finding $400 to pay for an emergency.” – The Atlantic2
Out-of-pocket costs have nearly doubled to 9.6 percent from a decade ago. – Deloitte.3
The average deductible has risen by 302 percent to $1,221 in 2016, compared to $303 in 2006. – Kaiser Family Foundation4,5
A quarter of workers are now in high-deductible plans costing families an average of $4,332 per year. – The Commonwealth Fund6
1 The group health plan requirements of ERISA, the Public Health Service Act (PHSA) and the Code do not apply to excepted benefits, which are described in parallel provisions in ERISA section 733, PHSA section 2791 and Code section 9832.
2 The Atlantic (2016). The secret shame of the middle class. Accessed on Feb. 13, 2017, from https://www.theatlantic.com/magazine/archive/2016/05/my-secret-shame/476415/.
3 Deloitte (2014). Dig deep: The impacts and implications of rising out-of-pocket costs. Accessed on Feb. 13, 2017, from https://www2.deloitte.com/content/dam/Deloitte/us/Documents/life-sciences-health-care/us-lchs-dig-deep-hidden-costs-112414.pdf.
4 The Henry J. Kaiser Family Foundation (2016).The 2016 Employer Health Benefits Survey. Accessed on Feb. 14, 2017, from http://kff.org/health-costs/report/2015-employer-health-benefits-survey/.
5 The Henry J. Kaiser Family Foundation (2015). The 2015 Employer Health Benefits Survey. Accessed on Feb. 14, 2017, from http://kff.org/health-costs/report/2015-employer-health-benefits-survey/.
6 The Commonwealth Fund (2014). Too High a Price: Out-of-Pocket Health Care Costs in the United States. Accessed on Feb. 14, 2017, from http://www.commonwealthfund.org/~/media/files/publications/issue-brief/2014/nov/1784_collins_too_high_a_price_out_of_pocket_tb_v2.pdf.