The philanthropic arms of Bloomfield health insurance giant Cigna and New York Life Insurance Co. say they are each donating $25 million in a new COVID-19 relief fund for healthcare workers.
The total $50 million Brave of Heart Fund launched by the Cigna and New York Life foundations is aimed at providing grants to front-line healthcare workers in the U.S. fighting against the coronavirus pandemic.
New York Life, which agreed to pay $6.3 billion in cash for Cigna’s life and disability insurance business in December, said it will also match the first $25 million of individual donations the fund receives.
The insurers hope to raise more than $100 million in the fund, which will be administered by not-for-profit organization E4E Relief, a nationwide provider of charitable employee relief funds. E4E Relief will begin accepting applications in May.
Families of doctors, nurses, technicians, hospital attendants, cafeteria workers, custodians, volunteers and others working in the healthcare industry during the COVID-19 pandemic are eligible to apply for funds, officials said. Grants are capped at $75,000 per family for medical care and counseling, housing, food, transportation, education, among other needs.
Individuals and corporations can make online donations here.
Under the program, Cigna said it will also provide behavioral and emotional health support to the families of both healthcare workers and other individuals through webinars, articles and podcasts to manage anxiety, loneliness and depression during the ongoing coronavirus crisis.
“As we’ve seen in the past, trying times bring out the best in us, as individuals and communities,” David M. Cordani, president and CEO of Cigna, said in a statement. “Our nation’s healthcare workers and volunteers are embodying this every day, as they answer the call of duty with bravery and selflessness.”
