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.
Source: Unum
Contact:
Unum
Media:
Dawn McAbee, 423-294-1892
dmcabee@unum.com