Supplemental Benefits
Mercy Housing offers excellent medical plan options; however, no plan covers all the costs of a serious illness or injury. If a major health event occurs, deductibles and coinsurance can add up to thousands of dollars. We are offering three supplemental benefits that allow you to greatly reduce this financial exposure and help bridge the gaps when the unexpected occurs – Critical Illness Insurance, Accident Insurance, and Hospital Indemnity Insurance.
Supplemental Benefits
Mercy Housing offers excellent medical plan options; however, no plan covers all the costs of a serious illness or injury. If a major health event occurs, deductibles and coinsurance can add up to thousands of dollars. We are offering three supplemental benefits that allow you to greatly reduce this financial exposure and help bridge the gaps when the unexpected occurs – Critical Illness Insurance, Accident Insurance, and Hospital Indemnity Insurance.
Supplemental Benefits
Mercy Housing offers excellent medical plan options; however, no plan covers all the costs of a serious illness or injury. If a major health event occurs, deductibles and coinsurance can add up to thousands of dollars. We are offering three supplemental benefits that allow you to greatly reduce this financial exposure and help bridge the gaps when the unexpected occurs – Critical Illness Insurance, Accident Insurance, and Hospital Indemnity Insurance.
Health Screening Benefit
Each of these voluntary benefits provides a Health Screening Benefit per covered person per calendar year if you or your covered dependents complete a covered health screening test such as a total cholesterol blood test, mammogram, colonoscopy, and more. Health Screening Benefits are $75 for Critical Illness Insurance, Accidental Injury Insurance and Hospital Care Coverage. If you enroll in all three plans, you are eligible for three times the benefit.
Notes:
- These plans are not replacements for medical insurance.
- If you elect coverage for your dependent children, you must provide notification to your employer when all of your dependent children exceed the dependent child age limit or no longer otherwise meet the definition of a dependent child. If you elect coverage for your spouse, you must provide notification to your employer if your spouse no longer meets the definition of a spouse.
- The policies/certificates of coverage have exclusions and limitations which may affect any benefits payable. The policies/certificates of coverage or their provisions, as well as covered illnesses, may vary or be unavailable in some states for supplemental medical benefits. Please see your Summary Plan Description (SPD) for complete details.
Critical Illness Insurance
NEW! Now Administered Through New York Life
Watch this video to learn more about Critical Illness Insurance
What is Critical Illness Insurance?
Critical Illness Insurance pays a lump-sum benefit directly to you in the event you or a covered family member is diagnosed with a covered condition such as a heart attack, stroke, or cancer. You can use this benefit any way you choose, to help pay for deductibles and coinsurance, or simply to replace lost earnings from being out of work. You choose the benefit amount when you enroll. No medical underwriting is needed.
What Is a Pre-Existing Condition?
A pre-existing condition includes any condition for which you, in the specified time period prior to coverage in this plan, consulted with a physician, received treatment, or took prescribed drugs.
Hospital Indemnity Insurance
Watch this video to learn more about Hospital Indemnity Insurance
What is Hospital Indemnity Insurance?
Even with medical insurance, a hospital stay can cost you thousands of dollars in deductibles and coinsurance. Hospital Indemnity Insurance pays a benefit directly to you if you or a family member incurs a hospital stay resulting from a Covered Injury or Covered Illness. You receive a benefit for being admitted to the hospital and then for each day you’re confined. Additional benefits are paid based on the type of services you receive, such as Hospital Chronic Condition Admission, Hospital Intensive Care Unit (ICU) Stay, and Hospital Observation Stay. Emergency room services are also eligible.
Your Benefit Deductions
Benefit deductions are calculated on 26 pay periods per year.
Employee Only
Hospital Indemnity: $9.56
Employee + Spouse
Hospital Indemnity: $19.33
Employee + Child(ren)
Hospital Indemnity: $17.08
Employee + Family
Hospital Indemnity: $28.00
Accident Insurance
Watch this video to learn more about Accident Insurance
What is Accident Insurance?
Accidents happen. You can’t always prevent them, but you can take steps to reduce the financial impact. Accident Insurance pays you or your covered dependents benefits for specific injuries and events resulting from a covered accident, both on and off the job. The amounts paid depends on the type of injury and care received. Benefits may be available for things like physician office visits, emergency care treatment, hospitalization, fractures, dislocations, lacerations, and physical therapy.
Your Benefit Deductions
Benefit deductions are calculated on 26 pay periods per year.
Employee Only
Accident: $4.86
Employee + Spouse
Accident $8.88
Employee + Child(ren)
Accident: $10.43
Employee + Family
Accident $14.45
Contact the provider of these benefits:
New York Life - (888) 842-4462, https://www.mynylgbs.com
ABOUT THIS GUIDE: Actual plan provisions for Mercy Housing (“the Company”) benefits are contained in the appropriate plan documents, including the Summary Plan Description (SPD) and incorporated benefit/carrier booklets. The Digital Benefits Hub is a summary only and does not describe each benefit option. This Digital Benefits Hub provides updates to your existing SPD as of the first day of plan year, which describes your health and welfare benefits in greater detail. Until the Company provides you with an updated SPD, this guide is intended to be a Summary of Material Modification (SMM) and should be retained with your records along with your SPD. As always, the official plan documents determine what benefits are available to you. If any discrepancy exists between this guide and the official documents, the official documents will prevail. The Company reserves the right to amend or terminate any of its plans or policies, make changes to the benefits, costs, and other provisions relative to benefits at any time with or without notice, subject to applicable law.