Medical Debt
is the number one cause of bankruptcy in the U.S. today
Medical Safety Net has the tools and resources to help Empower Financial Security for your employees.
The Problem
The Burden of Medical Debt in the United States.
Medical debt is a pervasive issue in the United States, driving many families into financial distress and even bankruptcy. Despite having insurance, many Americans find themselves overwhelmed by healthcare costs, leading to difficult choices between paying for medical care and meeting other essential needs. This financial burden affects not only individuals' financial stability but also their overall well-being, making it a critical issue that needs to be addressed comprehensively.
Source: Forbes, RetireGuide, KFF, Citizen.org, Fortune.
The Problem is Real
Accounting for nearly 2/3 of bankruptcies, Medical Debt is the number one cause of bankruptcy in the U.S.
Medical Debt is Piling Up
100 Million Americans currently have past due medical bills totaling $220B. Of those past due, nearly 80% have health insurance.
Funds just aren't Available
57% of U.S. adults can't cover a $1,000 emergency expense, such as an emergency medical bills.
OOP Maximum's are Increasing
For those who have health insurance through their employer, the average out-of-pocket maximum is $4,415
Voluntary Benefits aren't Working
Less disposable income + lack of understanding of insurance needs = low participation at 5-20%
A Package of employer-paid supplemental insurance: Critical Illness, Hospital Indemnity, Accident Medical Expense, and AD&D.
Everyone enrolled on your Core Medical Plan is covered! Helps mitigate medical debt instead of only 5-20% enrolled in a Voluntary Plan.
Premiums are significantly lower at one-third the cost of Voluntary Plans for guaranteed issue coverage.
The Solution
An Innovative Employee Benefit Solution including Embedded Insurance Benefits with Lower Cost Premiums!
Medical Safety Net Features.
Medical Safety Net Features.
Get Started with Medical Safety Net Today.
Contact Us to learn more and request a proposal for your employees.
Medical Safety Net is also available for non-employer group opportunities.
Contact Medical Safety Net
Medical Safety Net consistently provides results by improving Employee Productivity and Financial Health Outcomes
The Results
89% of financially stressed workers report significant improvements in their wellbeing and stress levels.
43 points average improvement in credit scores.
$1,050 average savings on interest costs per loan.
40% reduction in 401(k) loans.
28% improvement in employee retention.
181% increase in the percentage of workers with emergency savings (from 22% to 62%).
120% increase in the percentage of workers who aren’t living paycheck to paycheck (from 30% to 66%).
62% increase in workers who can pay bills on time (from 50% to 81%).
52% increase in workers who feel they can manage their debt (from 52% to 79%).
The Results
Get Started with Medical Safety Net
Getting started with Medical Safety Net is a seamless process. Follow these clear, simple steps, and you'll be on your way to providing valuable support to your employees. Initial and ongoing administration is easy with self-administered enrollment and billing!
Learn More
Review
Request a Proposal and sign the group application.
Enroll
Provide eligibility file of core medical plan population for enrollment.
Promote
Promote the benefit to enrolled employees to utilize the needed benefits.
This website is for marketing and illustrative purposes only for licensed insurance agents and brokers as an invitation to inquire, and is not intended to solicit insurance. Not all plans are available in all states. For specific plan details, rates, exclusions, limitations, and state availability of the Medical Safety Net program, please contact Coterie Advisory Group, Inc. using the online form, email, or phone listed above.
The Hospital Indemnity, Critical Illness, and Group Accident Benefits described above are underwritten by Everest Reinsurance Company, 100 Everest Way, Warren, NJ 07059, 1-800-438-4375. Everest Group, Ltd. is rated A+ (Superior) by A.M. Best Rating Services, Inc. This website provides a general description of certain provisions and features of this insurance program and does not revise or amend the applicable policies. In the event of a discrepancy between this website and your certificate of insurance or the group policy, the terms of the group policy shall apply. All benefits are subject to the terms and conditions of the group policy. Please refer to the Certificate of Insurance for a detailed description of the insurance coverage, including the exclusions, limitations, reductions, and termination. Non-Insurance Benefits are not offered by or affiliated with Everest Reinsurance Company.
Copyright Coterie Advisory Group, Inc. All rights reserved.
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Financial Dashboard
Library of interactive, self-paced courses on topics including managing credit and debt, credit scores, budgeting and saving, and more
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Rewards and Trivia
Unlimited one-on-one access to a certified financial counselor for assistance with budgeting, debt management, mortgage decisions, vehicle loans, student loans, retirement planning, access to local resources and more.
Financial Coaching
The Solution
An Innovative Employee Benefit Solution including The Center for Financial Wellbeing.
Medical Safety Net Features.
Medical Safety Net Features.