Employee Benefits

Most employees don’t understand their benefits. Here’s how to make sure you aren’t wasting your money

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2 years 1 month
Submitted by Jennifer Matticks on Wed, 05/11/2022 - 13:16

Mona Zielke, SVP, Enterprise Client Services and Claims, shares Voya research on employee sentiments surrounding voluntary benefits.

Employee Benefits
Business Owner
Jennifer Matticks
Publication Name
Fortune

Voya’s approach to enterprise ESG (Environmental, Social and Governance)

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Together with our key stakeholders we act with intention to make a meaningful impact. Voya’s long-standing culture of conducting business responsibly and ethically to help all Americans achieve the quality of life they seek today and through retirement is foundational to our environmental, social and governance (ESG) practices and is an integral part of our business focus on financial well-being. We continually strive to support a more sustainable and equitable future for our customers, colleagues and communities.

Compliance Code
CN2013806_0123
Retirement Employee Benefits Investment Management Individuals Employers Financial Professionals Voya Financial Advisors Institutional Investors Corporate Responsibility ESG_670x317.jpg
Business Owner
Matt Stagner
Expiration Date
Short Title
Voya’s approach to enterprise ESG

Susan’s Claims 360 Story

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Susan* passed away instantly in a car accident

Businesswoman using digital tablet at office desk

She was a mother who left two kids behind in their twenties. Since Susan had Group Term Life Insurance, her son filed a death claim.

When the claims examiner, Anna*, reviewed the claim, it really resonated with her. “I lost both my parents around the same age as this son was when he lost his mother. I couldn’t help but relate with what he and his sibling were going through.”

As Anna cross-checked this claim for other coverages, she noticed that Susan also had Accident Insurance offered by Voya, and this coverage included an Accidental Death and Dismemberment (AD&D) Insurance rider.

Anna then alerted our Accident Insurance claims team. They opened, approved and paid a $30,000 AD&D benefit to Susan’s two kids, who were her beneficiaries, without requiring any additional paperwork or claim submission.

a circle that has the words easy, innovative and integrated written on arrows moving around. The words Voya Claims 360 in the middle of the circle.

Susan’s kids received an Accident Insurance AD&D benefit of $30,000 for Susan’s covered, accidental death.

“It’s rough to lose a parent at that stage in life,” Anna said. “When I went through it, I was able to use the money I received to live on my own and go to college. I know firsthand how much of a difference it can make.”

Compliance Code
1761383
Employee Benefits Financial Professionals
Disclosures & Footnotes

*Names changed.

This example is based on an actual 2020 claim that utilized product-to-product claims integration. It is provided for illustrative purposes only. The average Accident Insurance benefit amount paid in 2020 was $1,100.

A complete description of benefits, limitations, exclusions and termination of coverage will be provided in the certificate of insurance and riders. All coverage is subject to the terms and conditions of the group policy. If there is any discrepancy between this document and the group policy documents, the policy documents will govern.

Insurance products are issued by ReliaStar Life Insurance Company (Minneapolis, MN) and ReliaStar Life Insurance Company of New York (Woodbury, NY). Within the State of New York, only ReliaStar Life Insurance Company of New York is admitted, and its products issued. Both are members of the Voya® family of companies. Voya Employee Benefits is a division of both companies. Product availability and specific provisions may vary by state and employer’s plan.

Business Owner
Blake Renaud
Expiration Date

Susan’s Claims 360 Story

Compliance Code
1761383
Employee Benefits Employers
Disclosures & Footnotes

*Names changed.

This example is based on an actual 2020 claim that utilized product-to-product claims integration. It is provided for illustrative purposes only. The average Accident Insurance benefit amount paid in 2020 was $1,100.

A complete description of benefits, limitations, exclusions and termination of coverage will be provided in the certificate of insurance and riders. All coverage is subject to the terms and conditions of the group policy. If there is any discrepancy between this document and the group policy documents, the policy documents will govern.

Insurance products are issued by ReliaStar Life Insurance Company (Minneapolis, MN) and ReliaStar Life Insurance Company of New York (Woodbury, NY). Within the State of New York, only ReliaStar Life Insurance Company of New York is admitted, and its products issued. Both are members of the Voya® family of companies. Voya Employee Benefits is a division of both companies. Product availability and specific provisions may vary by state and employer’s plan.

Business Owner
Blake Renaud
Expiration Date

myHealthMoney

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Help employees make informed benefit decisions with myHealthMoney. This digital assistant takes an employee’s unique needs into consideration to create a recommendation for medical, dental, vision and supplemental health insurance, as well as contribution guidance for health savings accounts (HSAs) and flexible savings accounts (FSAs).

See how it works:

 

To learn more about myHealthMoney, contact your Voya representative.

Compliance Code
1582781
Employee Benefits Employers Financial Professionals
Disclosures & Footnotes

Voya is making available to you the myHealthMoney software offered by SAVVI Financial, LLC. (“SAVVI”). Voya Financial, the parent company of Voya, and a number of other Voya Financial affiliates, have financial and business relationships with SAVVI which create an incentive for Voya to promote SAVVI’s products and services. You should access and read SAVVI’s Firm Brochure, which contains general information about SAVVI’s business, including conflicts of interest.

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Business Owner
Kristin Walters
Expiration Date
Short Title
myHealthMoney
Page Type
Product

Pete’s Claims 360 Story

Compliance Code
1503787
Employee Benefits Financial Professionals
Disclosures & Footnotes

*Names changed.

**Medical claims integration is available for Accident Insurance, Critical Illness/Specified Disease Insurance, or Hospital Confinement Indemnity Insurance offered by Voya Employee Benefits. These are not coordinated benefits and medical coverage is not offered by Voya Employee Benefits.

***Formless submissions are currently available for Wellness benefit, Accident Insurance and Hospital Indemnity Insurance claims.

This example is based on an actual 2020 claim that utilized product-to-product claims integration. It is provided for illustrative purposes only. The average Accident Insurance benefit amount paid in 2020 was $1,100. The average Hospital Confinement Indemnity Insurance benefit amount paid in 2020 was $1,500. Filing a claim may require any necessary medical records or proof of claim as determined during the review process.

A complete description of benefits, limitations, exclusions and termination of coverage will be provided in the certificate of insurance and riders. All coverage is subject to the terms and conditions of the group policy. If there is any discrepancy between this document and the group policy documents, the policy documents will govern.

Insurance products are issued by ReliaStar Life Insurance Company (Minneapolis, MN) and ReliaStar Life Insurance Company of New York (Woodbury, NY). Within the State of New York, only ReliaStar Life Insurance Company of New York is admitted, and its products issued. Both are members of the Voya® family of companies. Voya Employee Benefits is a division of both companies. Product availability and specific provisions may vary by state and employer’s plan.

Business Owner
Kristin Walters
Expiration Date

David’s Claims 360 Story

Compliance Code
1512636
Employee Benefits Financial Professionals
Disclosures & Footnotes

*Names changed.

**Medical claims integration is available for Accident Insurance, Critical Illness/Specified Disease Insurance, or Hospital Confinement Indemnity Insurance offered by Voya Employee Benefits. These are not coordinated benefits and medical coverage is not offered by Voya Employee Benefits.

***Formless submissions are currently available for Wellness benefit, Accident Insurance and Hospital Indemnity Insurance claims.

This example is based on an actual 2020 claim that utilized product-to-product claims integration. It is provided for illustrative purposes only. The average Accident Insurance benefit amount paid in 2020 was $1,100. The average Hospital Confinement Indemnity Insurance benefit amount paid in 2020 was $1,500. Filing a claim may require any necessary medical records or proof of claim as determined during the review process.

A complete description of benefits, limitations, exclusions and termination of coverage will be provided in the certificate of insurance and riders. All coverage is subject to the terms and conditions of the group policy. If there is any discrepancy between this document and the group policy documents, the policy documents will govern.

Insurance products are issued by ReliaStar Life Insurance Company (Minneapolis, MN) and ReliaStar Life Insurance Company of New York (Woodbury, NY). Within the State of New York, only ReliaStar Life Insurance Company of New York is admitted, and its products issued. Both are members of the Voya® family of companies. Voya Employee Benefits is a division of both companies. Product availability and specific provisions may vary by state and employer’s plan.

Business Owner
Kristin Walters
Expiration Date

Sarah’s Claims 360 Story

Compliance Code
1503786
Employee Benefits Financial Professionals
Disclosures & Footnotes

*Names changed.

**Medical claims integration is available for Accident Insurance, Critical Illness/Specified Disease Insurance, or Hospital Confinement Indemnity Insurance offered by Voya Employee Benefits. These are not coordinated benefits and medical coverage is not offered by Voya Employee Benefits.

***Formless submissions are currently available for Wellness benefit, Accident Insurance and Hospital Indemnity Insurance claims.

This example is based on an actual 2020 claim that utilized product-to-product claims integration. It is provided for illustrative purposes only. The average Accident Insurance benefit amount paid in 2020 was $1,100. The average Hospital Confinement Indemnity Insurance benefit amount paid in 2020 was $1,500. Filing a claim may require any necessary medical records or proof of claim as determined during the review process.

A complete description of benefits, limitations, exclusions and termination of coverage will be provided in the certificate of insurance and riders. All coverage is subject to the terms and conditions of the group policy. If there is any discrepancy between this document and the group policy documents, the policy documents will govern.

Insurance products are issued by ReliaStar Life Insurance Company (Minneapolis, MN) and ReliaStar Life Insurance Company of New York (Woodbury, NY). Within the State of New York, only ReliaStar Life Insurance Company of New York is admitted, and its products issued. Both are members of the Voya® family of companies. Voya Employee Benefits is a division of both companies. Product availability and specific provisions may vary by state and employer’s plan.

Business Owner
Kristin Walters
Expiration Date
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