Voluntary Benefits
Frequently Asked Questions
1. What are Voluntary Benefits?
Voluntary Benefits (Accident Insurance, Critical Illness, and Hospital Indemnity) supplement your medical and disability coverage by filling in any financial gaps that may come with an unexpected illness or injury. These pans provide a lump sum cash benefit paid directly to you, tax-free. Use this money to help cover out-of-pocket expenses such as deductibles or co-insurance, or use it to pay other living expenses such as rent, utilities, or groceries- it's up to you!
2. What does Accident Insurance do for me?
Accident Insurance is helpful for individuals living an active lifestyle or families with young children. It provides a payment directly to you based on a schedule of benefits for treatments and services that occur due to non-work-related accidents or injuries. Common treatments and conditions eligible for payment include initial and follow-up physician visits, diagnostic exams, concussions, emergency services, lacerations, physical therapy, medical equipment and more.
3. What is Critical Illness insurance?
Critical Illness provides a lump sum cash benefit upon diagnosis of a covered illness. Covered conditions include heart attack, stroke, cancer, organ transplant, Parkinson's MS, ALS, Alzheimer's, children's conditions and more. You have the choice of electing a $10,000, $20,000 or $30,000 coverage level. You may also cover your eligible spouse (100% of the benefit) and children (50% of the benefit).
4. What does Hospital Indemnity insurance cover?
Critical Illness provides a lump sum cash benefit upon diagnosis of a covered illness. Covered conditions include heart attack, stroke, cancer, organ transplant, Parkinson's MS, ALS, Alzheimer's, children's conditions and more. You have the choice of electing a $10,000, $20,000 or $30,000 coverage level. You may also cover your eligible spouse (100% of the benefit) and children (50% of the benefit).
5. Who administers these voluntary benefits?
Voya Financial administers all three voluntary benefits for Ruan. Note this is a different division of Voya from their FSA/HSA administration.
6. What is the Wellness Benefit under the Accidental and Critical Illness plans?
You, and any covered dependents, are eligible for a $75 Wellness Benefit once per year for receiving a qualifying preventive screening. This may include an annual check-up, dental screening, eye exam, mammogram, etc. In addition, you may claim your $75 Wellness Benefit under both the Accident AND the Critical Illness plans, provided you are enrolled in both programs.
7. How do I file a claim to collect one or more of these benefits?
Claims are completed online at voya.com/claims. Online filing instructions are posted on the Hub under Benefits > Insurance Contacts and Forms.
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