Gap product news: Guardian, Cigna, Beazley

Three insurers have rolled out products aimed at consumers who already get major medical coverage from their employers.

Cigna Corp. (NYSE:CI) has introduced Cigna Hospital Care, a voluntary group indemnity insurance policy that pays a lump sum to an insured who is admitted to a hospital for a covered injury or illness. 

Employers can add a wellness rider. The rider will pay a flat dollar amount to each covered employee who gets an annual wellness health screening. The product is portable.

Another carrier, Guardian Life Insurance Company of America, has also introduced a hospital indemnity policy. The Guardian Hospital Indemnity Insurance policy is available to employers with at least two employees. Guardian is offering the product on a guaranteed-issue basis. And the product is also portable.

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A third carrier, Beazley U.S. Accident & Health, a unit of the London-based Beazley Group, is offering a “gap medical product” through Boston Mutual Life Insurance Company.

The product can pay the eligible out-of-pocket expenses, including deductibles, co-pays and coinsurance, left by group major medical coverage. Beazley says the product could be most effective for groups with high-deductible health coverage.