Critical Illness Insurance helps provide financial support if diagnosed with a covered critical illness.

If you’re diagnosed with a critical illness like a heart attack or stroke, your life can change quickly. That’s because while a major medical plan may pay for some of the costs associated with treatment, out-of-pocket expenses like copays, coinsurance and deductibles may affect your finances. 

However, once you’re enrolled in Critical Illness Insurance, you’ll have additional financial protection if you are diagnosed with a covered critical illness. With this policy, you receive cash benefits paid directly to you (unless otherwise assigned) to use however you choose. 

• Provides a payment for you to use however you see fit
• The cash payment is made directly to you
• It can help pay out-of-pocket expenses related to medical care associated with covered illnesses
• In addition to medical care, you may use it to pay for things like childcare, lodging, or over-the-counter medication

You can collect this benefit in addition to other coverage you have, including your employer’s major medical plan, any other type of medical coverage, disability insurance, or other benefits you may be eligible to collect. However, it is NOT health insurance and does not satisfy the requirement of minimum essential coverage under federal law.

Dealing with a critical illness may be costly to you in two ways:

• Medical bills. It’s not unusual for a critical illness to result in out-of-pocket expenses. It starts with the usual deductibles, coinsurance and copays, but it doesn’t end there. You might decide to go to a doctor or facility that’s “out of network.” You might decide to get a second opinion or type of treatment that isn’t covered at all.  
• Lost income. Treatment and focus on recovery may require extra time away from work. That may affect the paycheck your family may rely on to keep everything on track. Or you might discover you have added expenses because you need more help around the house, extra child care, or additional lodging near treatment. These costs may affect from your wages or savings. 

The advantage of this insurance is simple: you can use your critical illness benefit any way you choose. You can use it to help pay for medical expenses like deductibles and copays, as well as any non-medical expenses. You can also use this money to help pay daily living expenses such as grocery bills, mortgage payments, child care, and transportation.

Access to this benefit helps you have more control over your finances and ultimately your health care options, too. Added peace of mind is a great way to support your recovery.

You are eligible to enroll in Critical Illness Insurance during the following times:

1. Within your new hire enrollment period
2. If you have a qualifying life event (you get married, have a baby, etc.)
3. During your employer’s annual enrollment

Check with your employer’s human resources/benefits team for specifics about these timeframes.

Keep in mind: If you enroll during these timeframes, you receive what is called “guaranteed issue,” subject to any applicable pre-existing condition limitations, and you must meet the “Actively at Work” requirement to be eligible.

These form(s) are in Adobe Acrobat Reader (PDF) format and are available for downloading and printing. Refer to the Critical Illness Insurance Brochure for rates. Thanks to your employer's group rates you could pay less for insurance than you would for individual insurance you'd find on your own. 

Critical Illness Insurance Brochure (Spanish)

MyBenefits Flyer