CNA Addresses Medical Coverage Needs of Small Business; Benefit Value Indemnity Provides Small Employers with an Affordable Specified Medical Plan.Business Editors CHICAGO--(BUSINESS WIRE)--April 3, 2003 CNA (Certified NetWare Administrator) See Novell certification. announces an affordable way for small businesses to offer medical benefits to employees. CNA's Benefit Value(SM) Indemnity for Small Business is a specified-benefit group medical plan that reimburses employees for incurred medical expenses due to sickness or accidental injury. Designed specifically for small companies that have not offered health insurance, CNA's Benefit Value Indemnity for Small Business offers employers a coverage solution for their employees that is cost-effective and easy to administer. While Benefit Value Indemnity is not a major medical plan, it provides specified medical coverage in case of sickness, accidental injury, hospitalization hospitalization /hos·pi·tal·iza·tion/ (hos?pi-t'l-i-za´shun) 1. the placing of a patient in a hospital for treatment. 2. the term of confinement in a hospital. , and more, as well as discounts on prescription drug prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, and vision care for employees, spouses and dependent children. Employers choose daily in-hospital benefit maximums, accident medical deductibles/maximums, and benefits for emergency room, office visits and wellness. Other options include prescription drug insurance coverage and outpatient diagnostic benefits. "Two key statistics led to our development of this product - that there are 38 million Americans without health coverage and that a large percentage of the nation's five million small businesses do not offer health insurance," said Robert L. McGinnis, executive vice president of CNA Group Operations. "Our Benefit Value Indemnity provides an important safety net for employees that employers can afford and administer with ease." With more than 50 years experience in group benefits, CNA is among the country's leading providers of group insurance programs. Benefit Value Indemnity for Small Business is among the many innovative benefit plans offered by Group Benefits, the business unit of CNA that markets life, accident, short- and long-term disability, long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. and specialty programs for employer and affinity groups A special interest group. This is a marketing term for a group of people with similar interests. . Group Benefits plans from CNA may be underwritten by Continental Assurance Company, Continental Casualty Company or CNA Group Life Assurance Company. Coverages, features and/or underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. company may vary by state. For more information about Group Benefits plans from CNA, visit our Web site at www.cna.com/groupbenefits or call 800-262-3039. CNA is the country's fourth largest commercial insurance writer, the ninth largest property and casualty company and the 51st largest life insurance company. CNA's insurance products include standard commercial lines, specialty lines, surety, reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. , marine and other property and casualty coverages; life and accident insurance; group long term care, disability and life insurance; and pension products. CNA services include risk management, information services See Information Systems. , underwriting, risk control and claims administration. For more information, please visit CNA at www.cna.com. CNA is a registered service mark, trade name and domain name of CNA Financial CNA Financial Corporation (NYSE: CNA) is a financial corporation based in Chicago, Illinois, United States, and noted for its 600 foot tall red headquarters building there. Its principal subsidiary, Continental Casualty Company (CCC) was founded in 1897. Corporation. |
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