- Key Insight: Discover how critical-illness coverage complements high-deductible plans to close financial protection gaps.
- What's at Stake: Unmanaged exposure could drive absenteeism, turnover, and employer-sponsored cost burdens.
- Supporting Data: 31% of American workers filed a critical-illness claim in the past 12 months.
- Source: Bullets generated by AI with editorial review
Each year, heart disease exacts a staggering toll — not only in lives lost, but in hundreds of billions of dollars in lost productivity for U.S. workers and employers. Those who survive a heart attack or stroke frequently confront a second battle:
Amid that strain, a little-used workplace benefit — critical illness insurance — can provide a financial lifeline.
"It's an important part of the benefits portfolio for employees," says Stephanie Shields, head of employee benefits at Equitable. "It plays a big role in complementing medical plans by closing the gap that's created by high deductible plans."
When a worker is diagnosed with a serious condition — like a heart attack, stroke or certain cancers — critical illness insurance can provide a lump-sum payment. Unlike
Chronic health conditions on the rise
According to Equitable's 2025 Consumer Finance Survey, more than a quarter (31%) of American workers filed a
Eighty percent of Americans worry that an unexpected medical expense could derail their financial goals, with more than a quarter of this group indicating that a bill under $1,000 would cause financial hardship.
The number of employees managing chronic health conditions continues to rise, and this is one of the main drivers of
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Shields says it's up to employers and benefit leaders to help workers understand the programs they offer and how they work together, starting with medical insurance.
"Some people think, 'I have medical coverage, and I'm covered if something were to happen,'" she says. "But it's more than just having coverage for the core aspects of the event — it's all of the additional costs that are associated with it. So what can HSAs be used for? How do supplemental benefits like critical illness, accident insurance and hospital indemnity work? We're talking about things that almost entirely require a hospital visit, and that's a set of expenses that isn't always 100% covered."
Increasing engagement
February is American Heart Month, and Shields says it's a good time to raise awareness about the
Heart disease is the leading cause of death for men, women and people of most racial and ethnic groups, according to the Centers for Disease Control and Prevention. In 2023, almost one in four deaths in the U.S. was caused by heart disease.
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Nearly half of U.S. adults have high blood pression, putting them at risk for heart disease and stroke. Just one in four people with high blood pressure has it under control.
Shields encourages benefit leaders to have meaningful conversations throughout the year that are grounded in everyday, real-life stories. Timing discussions about the importance of critical illness insurance with American Heart Month presents benefit leaders with "a great opportunity for engagement," she added.
"You don't only want to have these conversations during open enrollment. You get your taxes done once a year. You submit it by the deadline, and you put it out of your mind. That's not how we should treat benefits."
