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Transamerica’s new supplemental insurance can pay double benefits

Transamerica’s new supplemental insurance can pay double benefits

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(The Daily Record / Maximilian Franz)
(The Daily Record / Maximilian Franz)

is offering a new supplemental insurance policy designed for hospital systems and provider-owned health plans.

The -headquartered provider of life insurance, retirement and investment solutions’s new hospital indemnity insurance policy, called Provider Select, pays double cash benefits when employees’ hospital care is received at a treatment center designated by the employer.

The new insurance policy is designed for use by national and regional hospital systems, hospital-owned health plans or employers looking to potentially reduce medical plan premiums and help employees better manage their out-of-pocket medical costs by using preferred treatment centers, according to the company.

The policy is intended to be available as an optional workplace benefit for employees; benefits can be used for any purpose.