Unum Helping to Explain the Effects of Health Care Reform on the Employee Benefits Industry

CHATTANOOGA, Tenn.--(BUSINESS WIRE)-- As employers and individuals evaluate the effects of health care reform on their businesses and families, Unum (NYSE: UNM) is offering information on what the changes mean and how they will affect the world of employee benefits beyond medical coverage.

“Though there will be very little direct impact on the products Unum provides, health care reform has significantly changed the shape of the discussion surrounding employee benefits,” said Scott Maker, vice president of Government Affairs. “We hope that by offering information and guidance on the changes, we can help our partners feel comfortable that they are making informed decisions about these issues.”

A new white paper from Unum explains the provisions and limitations of the Community Living Assistance Services and Supports (CLASS) Act, a national voluntary plan that offers a minimal long term care benefit. In addition to the white paper, Unum has produced a brief flyer that explains the key differences between the national plan and private long term care coverage.

“The CLASS Act has given much-needed attention to the issue of long term care and the need to plan for the costs of that care,” said Nathan Petersen, manager of Product and Market Development for Unum. “But it is also important for employers and individuals to understand that the CLASS Act does not provide the level of long term care coverage that many people will need.”

Another informational piece from Unum explains that there will be “business as usual for Unum benefits,” and predicts that the need will grow for the supplemental financial protection those products provide. The piece also offers an overview of the changes health care reform will bring with a timeline of when the changes will occur.

“We think it’s critical to share the message that our products are not directly affected by health care reform,” said Lydia Jilek, a director of Product and Market Development for Unum. “There will inevitably be some confusion about the changes that are taking place over the next few years, and we hope we can play a role in answering the questions people may have about them.”

Over the next few months, Unum will offer additional pieces in this series of informational resources on the effects of health care reform.

About Unum

Unum (www.unum.com) is one of the leading providers of employee benefits products and services in the United States and the United Kingdom. Through its subsidiaries, Unum Group paid approximately $6 billion in total benefits to customers in 2009.



CONTACT:

Unum
Media:
Dawn McAbee, 423-294-1892
[email protected]

KEYWORDS:   United States  North America  Tennessee

INDUSTRY KEYWORDS:   Health  Public Policy/Government  Healthcare Reform  Other Health  Professional Services  Human Resources  Insurance  General Health

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