Disability insurance is insurance protection for your income in the event you cannot work due to an accident, illness, or other form of disability. Despite popular belief, federal employees lack a comprehensive disability plan, which is why we created our Disability Financial Impact Analysis, which is designed to show you how your finances would be affected by a three-year disability- the national average length. For more information on how this low-cost, group program can fill the gaps in your benefits, please visit FedAdvantage.com or email us at: info@FedAdvantage.com
Voluntary Benefits to Complement Medical Insurance
“Living Life” sometimes creates situations that bring unexpected costs, especially when the cost relates to medical care. Deductibles and coinsurance can be more expensive than we realize, which is why FedAdvantage offers you a suite of three voluntary products to complement your health insurance plan.
· Accident Insurance: An accident can happen to anyone, and recovery can be costly. Your medical insurance may pick up most of the tab, but leave you with out-of-pocket expenses that add up quickly. Accident insurance provides benefits for covered accidental injuries, related services, and treatments.
· Critical Illness Insurance: Critical Illness insurance provides a choice of $10,000, $20,000, or $30,000 lump-sum payment for a covered illness such as cancer, a heart attack or stroke. The cash benefits are independent from any claims or coverage provided by your medical insurance. The cash can help with the bills or added expenses that medical insurance may not be able to cover like co-pays, deductibles, or day-to-day living expenses.
· Medical Indemnity Insurance: With the cost of your FEHB program increasing an average of 6.4% in 2016, you are faced with a tradeoff: better coverage & higher premiums VS less coverage and lower premiums. Frustrating to say the least. FedAdvantage’s Medical Indemnity plan, offered as Inpatient Only or Inpatient/Outpatient Combo, reduces your out-of-pocket costs (think deductibles, copays, and co-insurance) with a choice of either inpatient or in/out patient expenses. It’s peace of mind protection for both you and your family.
With open season fast approaching, evaluate your needs, risk, and coverage, and consider FedAdvantage when you require assistance, or would like to learn more about gaps currently present in your benefits. For more information please visit FedAdvantage.com or email us at: info@FedAdvantage.com.