Lincoln Financial Group Expands Line of Complementary Health Products with Hospital Indemnity


RADNOR, Pa.–(BUSINESS WIRE)–Today, Lincoln Financial Group (NYSE: LNC) announced that it is adding hospital indemnity insurance to its suite of extended health solutions available to its group benefits customers. Hospital Indemnity coverage provides claimants with a lump sum payment in the event of hospitalization or other covered events. With accident and critical illness insurance, Hospital Indemnity helps covered Americans cover expenses that may not be included in their traditional medical insurance.

There are growing concerns about the impact of health care costs on Americans’ financial security, amid economic uncertainty from the COVID-19 pandemic. More than half of Americans couldn’t afford an unexpected hospital bill of $1,000 or more, and 40% of people say that in the current environment, they’re more concerned about paying for health care expenses in general .1 As a result, more employees are focusing on solutions to help cover healthcare expenses, with 23% saying insurance for unexpected medical expenses is a financial protection strategy, and more than half wanting learn more about hospital compensation and how it can help them. .2

“Employees look to their employers for complementary health products that can help offset expenses resulting from unforeseen medical events,” said Ralph Ferraro, senior vice president, product manager, Workplace Solutions, Lincoln Financial Group. “Lincoln’s hospital compensation solution, combined with our suite of supplemental health solutions for accidents and critical illnesses, provides employees with the coverage they need to plan for a secure financial future.”

How the hospital allowance works

With Lincoln Financial’s Hospital Expense Compensation Plan, employers can provide employees with protection against financial hardship due to unexpected hospitalizations. If a covered employee or family member is admitted to hospital or undergoes outpatient surgery for a covered illness or injury, Lincoln Financial will provide a lump sum payment. Additional benefits are available through the new Hospital Indemnity solution, some of which include:

  • Mental Disorder and Substance Abuse Treatment Benefitsincluding screening tests for these conditions.
  • Infectious Disease Tests: Nearly 50 assessment tests are part of the Health Assessment Benefit (HAB) endorsement, including vitamin D screening and COVID-19 related tests such as antibodies, viral tests and vaccinations.
  • NICU Admission and Confinement Riders: These family-focused benefits increase the payout percentage if a newborn is admitted and/or confined to an ICU or NICU for care or treatment due to premature birth or other covered event.

Hospital Indemnity will be available in 26 states beginning January 1, 2022. Additional state availability will follow in early 2022.

For more details on Lincoln Financial’s Hospital Indemnity product, Click hereand for an overview of Lincoln Financial’s suite of complementary health solutions, Click here.

About Lincoln Financial Group

Lincoln Financial Group provides advice and solutions that help people take charge of their financial lives with confidence and optimism. Today, more than 17 million customers trust our expertise in retirement, insurance and wealth protection to help them achieve their lifestyle, savings and income goals, and protect against long-term care expenses. Based in Radnor, Pennsylvania, Lincoln Financial Group is the trading name of Lincoln National Corporation (NYSE: LNC) and its subsidiaries. The company had $324 billion in account value at the end of the period June 30, 2021. Lincoln Financial Group is a committed corporate citizen that is listed in major sustainability indices including the Dow Jones Sustainability Index North America and FTSE4Good. Dedicated to diversity and inclusion, we have achieved perfect scores of 100% on both the Corporate Equality Index and the Disability Equality Index, and rank among Forbes’ Top Large Employers and Top Employers for Women, and Newsweek’s Most responsible companies. Learn more about: follow us on Facebook, Twitter, LinkedInand instagram. Sign up for email alerts at

1 Lincoln Financial June 2021 Monthly Consumer Sentiment Monitor

2 Lincoln Financial June 2021 Monthly Consumer Sentiment Monitor



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