Designed to address high demand from Symbility Health’s national network of Third-Party Administrators and Brokers, the new insurance solution focuses on insurance when catastrophe coverage is required for small to mid-size employee groups.
According to Symbility, the new product will include comprehensive benefits, with life, AD&D, critical illness, emergency travel medical and excess medical.
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Small Group Pooled Insurance Solution will also allow for coverage for less than five lives on Administrative Services Only (ASO), Health Care Spending Account (HCSA) and Cost Plus plans.
Commenting on the launch, Symbility Solutions president and COO, Richard Adair, said several of the firm’s partners seek to give the flexibility of a Healthcare Spending Account to their client’s employees enabling them to have excess coverage for expenses in case of a catastrophic illness.
"This new small group product will enable them to have the peace of mind with the component of stop loss attached to the product," Adair added.
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