Through this innovative, tech-driven solution, Voya Financial hopes to lessen the financial burden of medical bills on employees in collaboration with InsurTech business Ansel Health.

Voya Protect was founded in response to an urgent need to assist workers who may incur unforeseen medical expenses. With this additional health insurance option, Voya Financial hopes to give employees a safety net in a time when preparing for emergencies has grown more difficult, particularly in light of the recent spike in inflation.

The primary focus of Voya Financial's operations is providing holistic solutions in the areas of investments, wealth, and health. The organization, which employs over 9,000 people, is committed to provide its 15.2 million individual, workplace, and institutional clients with financial security and a satisfying life.

When a covered ailment is diagnosed, Voya Protect stands out as a Group Limited Benefit Insurance that pays benefits quickly and easily. It offers different levels of coverage without the restrictions usually placed on pre-existing conditions and is made to cover over 13,000 medical disorders.

Along with offering comprehensive coverage, the product also has a quick and simple claims procedure. Workers often receive their qualified compensation within 72 hours of filing a claim, which they may do in a matter of minutes. Benefit payments can be utilized for a variety of things because of this flexibility, such as paying bills or other out-of-pocket medical costs.

Additional information about Voya Protect includes its ease of use with Health Savings Accounts (HSAs) and its streamlined employer administration process. The resolution is a component of Voya's continuous effort to improve benefits for employees at work, which includes prior increases in coverage for severe sickness and accidents, with a special emphasis on mental health.

Voya Protect provides extra coverages for chronic and mental health illnesses in addition to standard benefits, demonstrating Voya's recognition of the increasing importance of mental health in the workplace. The goal of Voya is to promote its clients' overall health and financial well-being, which is in line with this strategy.

Rob Grubka, CEO of Workplace Solutions at Voya Financial, stated: "At Voya, we recognize that an unforeseen medical emergency can be expensive. We also know that, given the realities of inflation over the past few years, being able to save for emergencies has remained difficult.

Only one in five households have raised their emergency funds since the beginning of 2023, according to recent industry data.1. Employees frequently still have to pay for their own medical bills even when their employers provide health insurance, which can be expensive for them and their families. Because Voya Protect is comprehensive, effective, and simple to use, both employers and their staff can gain from it.