New information site brings health care reform into focus

Unum launches learning center to help brokers and employers keep up with changes

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Unum (NYSE:UNM) has launched a website on health care reform to help benefits professionals and businesses stay up to date on the changes and their effects. The site offers straightforward information and analysis through updates to health care reform law, reports and podcasts.

“New health coverage requirements will significantly impact the way our sales partners and customers do business,” said Jim Hettenbach, director of market development for Unum. “Our online learning center will stay current on the law, offering up-to-date material that will change as the situation changes. This will be a valuable resource to help brokers and businesses understand the opportunities and their responsibilities in the changing landscape.”

Although Unum’s benefits offerings – such as disability, accident, critical illness and supplemental health coverage – will not be directly impacted by the new regulations, the company has taken a leading role in helping the employee benefits industry evaluate the full effects of health care reform.

“Our products complement health insurance coverage, offering working Americans more complete financial protection against the impact of illness or injury,” Hettenbach said. “As our customers have shared their anxieties about health care reform, we’ve stepped in to provide as much information and perspective as possible.”

The launch of an online tool that will be regularly updated enables Unum to keep information current. In addition to being a source for health care reform news and material, the site also has information on benefits that can help employers learn how to build reform-friendly benefits strategies.

“Disability, accident and critical illness insurance provide billions of dollars in benefits each year to wage-earners who are sidelined because of illness or injury,” said Hettenbach. “In this new reform environment, there is an even greater need to educate employers and employees about the importance of financial protection benefits and how they can be used to help fill gaps in coverage that medical insurance does not address.”

To learn more about health care reform and its impact on today’s employers, their workers and the benefits industry, visit Unum.com/HealthCareReform.

Customers give us high marks in annual survey

Unum’s commitment to being the absolute best at making meaningful and lasting connections with its customers is reflected in impressive results from the 2011 Employer Loyalty Study. Based on a survey of group customers with 11 to 1,999 employees, the research measured client satisfaction with Unum across dozens of categories.
If this were a school report card, Unum received A’s (score above 92%) for:

• Overall quality

• Overall value

• Likelihood to recommend

• Likelihood to renew

• Financial strength

• High quality products and services

• The claims process.

In addition, 92 percent of customers surveyed agreed that Unum had a positive corporate reputation and provided a thorough, fair and objective evaluation of all claims.


“These are strong results and reflect many year-over-year improvements,” said Lori Cook, a director in Corporate Research. “Image ratings increased significantly in a number of areas, including corporate reputation, trust and evaluation of claims.”


Unum also enjoyed a significant jump in customer ratings of financial strength. The company has had a consistent string of solid quarterly financial results in the face of a challenging economy and aggressive competition.
The Employer Loyalty Study is conducted each fall. In 2011, Harris Interactive Inc. surveyed 1,340 benefits decision-makers.

Looking into the crystal ball at 2012

We can predict one thing: Market for voluntary benefits will continue to grow



The events of the last few years have certainly complicated the business of predicting what lies ahead for the benefits industry. As they try and call the trends for 2012, experts are keeping a close eye on the economy (in both the U.S. and Europe), employment levels, health care reform and the evolving role of voluntary benefits.
Oh, and it’s an election year. Hang onto your hats.



The uncertain economy
The economic outlook for the new year is slightly brighter overall in the U.S., with a recent drop in unemployment numbers and some growth in manufacturing and construction. But it also seems that for every bit of good economic news there’s a bit of bad news. Housing prices are still depressed, and an unfolding European economic crisis could affect conditions across the globe.



The moving target known as health care reform
Even after an eventful year for health care reform in 2011 (the CLASS Act didn’t make it, but the insured-until-26 provision took effect) a lot remains unknown. Court decisions came down against the individual mandate as well as for it. And in the spring, the Supreme Court is expected to hear arguments on the issue.
Unum launched a health care reform information site to help keep everyone up to date. But it’s a big job. Lots of questions, including those about how exchanges will work and the role of brokers in the whole equation remain unanswered. And it’s still not clear how employers will respond to reform, with some experts predicting many will drop health care coverage for employees while others predict they’ll have compelling reasons to continue to offer it.



The voluntary world
The new year is bringing a lot of discussion about where voluntary benefits will fit in as medical costs rise and employers look for creative ways to tighten benefits budgets while offering employees the benefits they want and need.
Strong growth in voluntary benefits is among the top trends for 2012 Colonial Life recently predicted, and some brokers who are weighing in on what they expect from the New Year see voluntary benefits playing a growing role in their plans.



Contact me and let's discuss how we can make this new and changing environment a great opportunity for you to navigate your clients through challenging times.



- Rich Canale