Nationwide is roll out a new Nationwide Care Concierge service that provides 24-hour access to guidance on many of the complex questions and issues that can come up in retirement.
These services are often handled through employee benefits or assistance programs, which people generally lose access to when they retire. While financial advisors can provide a roadmap to fulfill financial needs, many cannot help when their clients bring up life challenges, such as finding a home for elderly parents, resolving healthcare issues and accessing counseling services.
“Nationwide is committed to trying new things to help Americans prepare for and live in retirement,” Eric Henderson, senior vice president of Nationwide’s annuity and life insurance businesses, said. “We’re proud to offer Care Concierge on select variable annuities as a new, innovative benefit for members.”
Nationwide is the first financial company to offer this service outside of an employee assistance program. It will be offered starting July 24.
The program extends the benefits Nationwide associates currently receive — such as health advocacy and counseling and access to legal services — to members of select Nationwide variable annuity products.
It will be administered by West’s Health Advocate Solutions, a clinical healthcare advocacy provider. It is estimated that Care Concierge will initially be available to 25,000 members, increasing to more than 30,000 members by the end of the first year. In addition to contract owners, the program extends to their spouses, dependent children, parents and parents-in-law.
Among the services it offers, the program can help people Find doctors or specialists and make appointments, research and review medical treatment options, assist with arranging care for aging parents or adult children, provide counseling services, manage health insurance claims and billing issues, provide access to legal services, and assist with vacation or event planning, entertainment recommendations, gift ideas and more,.
“Health Advocate is an industry leader in health care advocacy serving over 50 million lives,” Henderson said. “We trust them with our own associates as we have a current partnership with them as an associate benefit, and we trust them with our members.”