Supplemental Health Benefits
Hormel Foods offers several ways to supplement your medical plan coverage that you may elect during Open Enrollment. This additional insurance can help cover unexpected expenses, regardless of any benefit you may receive from your medical plan. Coverage is available for yourself and your dependents and offered at discounted group rates.
Supplemental Health Benefits
Accident Coverage
Accident insurance through Voya provides you with a cushion to help cover expenses and living costs when you get hurt unexpectedly. This plan complements your health insurance by providing benefits to help cover direct or indirect costs that can arise with a serious or minor injury that occurs off the job. You may end up paying out of your own pocket for things like deductibles, copays, transportation, over-the-counter medicine, daycare or sitters, and extra help around the house. With accident insurance, the benefits you receive can help take care of these extra expenses and anything else that comes up.
- INITIAL DOCTOR VISIT: $90
- HOSPITAL ADMISSION/ CONFINEMENT: $1,250/$275
- ICU ADMISSION/CONFINEMENT: $450
- OPEN FRACTURES: $480-$6,720
- OPEN DISLOCATIONS: $550-$7,700
- AMBULANCE (AIR/GROUND): $1,500/$360
- Accident Coverage - Claims Example
- EMERGENCY ROOM: $225
- IMAGING: $275
- BROKEN WRIST: $1,800
- MEDICAL APPLIANCE: $200
- FOLLOW-UP VISIT: $90
- PHYSICAL THERAPY: $45
- TOTAL BENEFIT PAYOUT:: $2,635
- You will receive a cash benefit for covered injuries and related services for accidents that occur outside of work.
- Benefits are paid on a schedule of benefits regardless of any other coverage you have, and you may spend it any way you choose.
- Accident coverage is especially helpful for families with young children and those who are active.
Hospital Indemnity Coverage
You already know the importance of living well and staying well. But life is unpredictable — expenses associated with a hospital stay can be financially difficult if you are not prepared. Hospital indemnity insurance through Voya pays cash benefits directly to you if you have a covered stay in a hospital or critical care unit (ICU).
- HOSPITAL ADMISSION: $1,100
- HOSPITAL CONFINEMENT: $100 per day
- HOSPITAL CONFINEMENT - MAXIMUM DAYS PAYABLE: 60 days per confinement
- HOSPITAL ICU ADMISSION: $1,100
- HOSPITAL ICU CONFINEMENT: $200 per day
- HOSPITAL ICU CONFINEMENT - MAXIMUM DAYS PAYABLE: 15 days per confinement
- Hospital Indemnity Coverage - Claims Example
- HOSPITAL CONFINEMENT: $300
- NEWBORN ADMISSION: $1,100
- NEWBORN CONFINEMENT: $300
- TOTAL BENEFIT PAYOUT:: $2,800
- Pre-existing conditions are waived!
- Hospital indemnity pays a cash benefit for hospital admissions due to a covered accident, illness, or pregnancy.
- Popular with those planning to have children, who are older or have conditions that subject them to a higher risk of hospitalization, and/or are covered by an HDHP.
- Benefits are payable for both admissions and additional days spent in the hospital.
Critical Illness Coverage
No one knows what lies ahead on the road through life. Will you be diagnosed with cancer? Will you suffer a stroke or the complete loss of hearing? The signs pointing to a critical illness are not always clear and may not be preventable, but critical illness coverage helps offer financial protection in the event you are diagnosed. Critical illness insurance through Voya pays you cash to use in any way you need if you are diagnosed with a covered condition.
- $10,000
- $20,000
- $30,000
- Critical Illness - Plan Benefits
- ALZHEIMER'S: 100%; 1 times the Benefit Amount
- BENIGN BRAIN TUMOR: 100%; No maximum Benefit Amount
- CANCER: 100%; No maximum Benefit Amount
- COMA: 100%; No maximum Benefit Amount
- CORONARY ARTERY DISEASE (OR BYPASS): 25%; No maximum Benefit Amount
- HEART ATTACK: 100%; No maximum Benefit Amount
- LOSS OF HEARING/ SIGHT/SPEECH: 100%; 1 times the Benefit Amount
- LOU GEHRIG'S DISEASE/ALS: 100%; 1 times the Benefit Amount
- MAJOR ORGAN FAILURE (OR TRANSPLANT): 100%; No maximum Benefit Amount
- PARALYSIS: 100%; 1 times the Benefit Amount
- PARKINSON'S: 100%; 1 times the Benefit Amount
- SKIN CANCER: 10%; For Skin Cancer, the maximum is once per calendar year with a total maximum benefit amount of 10 times the Benefit Amount
- STROKE: 100%; No maximum Benefit Amount
- *This list is a summary. Please refer to benefit documents for a comprehensive list of covered benefits.
- You have the choice of $10,000, $20,000, or $30,000 in guaranteed issue coverage. Spouses can be covered at 50% and children at 50% of your elected amount. Child coverage will be included in the employee coverage.
- In order for a benefit to be payable, the specified disease must be diagnosed after the covered person’s coverage effective date.
- Critical illness provides you a lump-sum benefit upon diagnosis of a covered illness.
- Premiums are age-banded. Please refer to the benefit summary for a full rate table.