And. And. A Winning Combination

Transcription

1 And And A Winning Combination

2 Who We Are

3 The Company of Choice for American Business AFLAC insures more than 50 million people worldwide. Over 400,000 U.S. payroll accounts offer AFLAC coverage. Accounts with 3 to 350,000+ employees count on AFLAC.

4 A Company You Can Count On A history of excellence and respect Aflac is a fortune 500 company, with assets of nearly $68 billion, insuring more than 40 million people worldwide. Rated A+ (Superior) by A.M. Best Fortune magazine s list of America s Most Admired Companies A leader in workforce diversity Aflac has earned inclusion in: Fortune magazine s Top 50 Employers for Minorities

5 National Coverage Local Service Nationwide distribution system in the U.S. 43,000 licensed agents nationwide 1,600 field managers Presence in 50 states and U.S. Territories Training/education Enroller Certification Program for associates serving large accounts

6 What We Do Is So Very Important

7 What is Aflac? Aflac is Not Medical Insurance Pays cash benefits directly to the employee, not doctors or hospitals Aflac is Income Protection Protects their most important asset: Their Paycheck Aflac pays regardless of any other insurance Employee funded through payroll deductions Employees pick and choose what benefit options fit them and their families best No physical exam or family background information needed to apply for coverage Claims processed usually in 7-10 working days.

8 Group Health Plans Respond to: Direct medical expenses Don t respond to: Nonmedical expenses associated with a catastrophic accident or sickness. Today s higher copayments and deductibles Daily living expenses Loss of earning power

9 Aflac Without It, No Insurance Is Complete. Nonmedical costs are as real as any hospital bill to a recuperating employee. Benefits are paid directly to employees, unless assigned; employees maintain full control of policy proceeds.

10 *Source: Harvard Study Harvard Study on Bankruptcy Every 45 seconds, an American family goes bankrupt!* More kids have to endure parents bankruptcies than divorces* Last year, roughly 1.5 million Americans with health insurance became bankrupt because of illness or accident. Why?!?!?!

11 Here Is The Reason Why!! A Synopsis of the Harvard Study Salaries: Employee - $40,000 Middle Class American Family With A Home, Two Cars and $75,000 Annual Income Benefits Currently in Place Spouse - $35,000 Total - $75,000 Employee gets sick With Disability - $26,400 Without Disability - $0 Spouse takes FMLA - $0 Retirement Dies Nearly Dies 401K/403B Term Life Policy????? Total income for this family is now between $26,400 and $0

12 Which of these benefits would prevent this from happening? Medical Insurance Dental Insurance Vision Insurance Group Life Insurance Short-Term Disability Long-Term Disability 401k NONE!

13 Proper Definition of a Benefit Rich Entity Our employees won t go bankrupt if they, or their family members, get seriously sick or injured. Medical Insurance Catastrophic Coverage (Aflac) Life Insurance Disability, including coverage for spouses and children 401k Ancillary benefits, not vital, but nice, that could be added Vision Insurance Pre-Paid Legal Dental Insurance Pet Insurance

14 It s a Win-Win! Employees love AFLAC for the additional benefits they obtain Employers love AFLAC for the employee gratitude, increased retention, tax savings and zero cost.

15 How Do Our Programs Work? Here Are Some Actual Claims They Could Be Your Employees

16 AFLAC s Cancer Plan A Client diagnosed with breast cancer. Admitted to the hospital and undergoes radiation treatment for 6 weeks. Payment Schedule in addition to any other Company benefits: Item Payment Mammogram (suspicious) $75 Ultrasound to confirm suspicion $200 Needle biopsy $450 1 st Occurrence Benefit $5,000 Second Surgery Opinion (Johns Hopkins) $300 Surgery $5,000 Reconstructive Surgery $3,000 Radiation Treatments $9,000 Hospitalized for 5 days $1,500 Chemotherapy Yet To Be Determined Total Benefits Paid to Date $24,525

17 AFLAC s Accident Policy A 45 year old male was in a serious car accident, he was Medevac to Baltimore Shock Trauma and spent 10 days in Intensive Care and an additional 12 days in the County hospital. Payment Schedule in addition to any other Company benefits: Item Payment Emergency Room Benefit + Air Ambulance $1,620 Hospital Admission $1, days in Intensive Care $6,500 Ground Ambulance to County Hospital + 12 additional days 3,200 Major Hip Injury $425 Major Knee Injury $350 Appliance $125 Follow-up Dr Visits $210 Physical Therapy $350 Total Benefits Paid $13,780

18 Example: AFLAC s Specified Health Event Protection Scenario: A gentleman suffers a first heart attack, is taken by ambulance to ICU and spends total of 5 days in the hospital and requires twenty continuing care visits. Payment Schedule in addition to any other Company benefits: Item Payment Heart Attack $5,000 Ambulance $250 Two Days Intensive Care $1,400 Three Days Regular Room $900 Twenty Continuing Care Visits Total Benefits Paid $2,500 $10,050

19 Employer Benefits? All AFLAC Benefits are Eligible Under 125 Section 125 set up for you at no cost! Premiums are deducted Pre-Tax Reduces Employee s Net Cost 28 to 35% Accumulates Savings to the Employer Every $100 pre-taxed = $7.65 direct to You Every Year

20 Flexible Spending Account (FSA)

21 FSA s are Federally sponsored programs Designed to help employees pay for unreimbursed medical (URM) expenses and dependent daycare Employees can set aside a specific amount of money each pay period on a pre-tax basis Funds are placed in a local bank account which belongs to the entity. Participants are then reimbursed for eligible outof-pocket medical and day-care expenses.

22 What is the Aflac Now Card SM? The Aflac Now Card is the latest electronic method of paying for unreimbursed medical (URM) expenses via FSA s. It looks and works like a credit card. FSA participants can use it to pay for medical, dental, or prescription expenses. Card is for medical expenses only, Day Care expenses must be submitted manually. When the card is swiped, the participant s URM FSA is debited for the amount of the purchase. Card swipe transactions will be processed by MediBank, Incorporated (MBI).

23 Important Facts The Aflac Now Card is defined as a payment card rather than a credit or debit card. It is a stored value card that provides the cardholder direct access to their pre-tax contributions. Pin numbers are not issued and participants will need to select the credit option at the point of sale. The Card is re-loadable for 3 years. The card stores current plan year information only. Participants need to reenroll on a new SRA each year to stay in the plan Does Not Roll Over

24 Participant Balances Cardholders can check the available balance by either contacting customer service with Aflac Benefit Services at or via the web at Cardholders will be advised of how to access the web in a letter that is mailed separately from their Aflac Now Card.

25 What is Automated Billing? Simple, fast, and convenient Web-based system that allows you to Receive Reconcile Submit changes And pay your invoice, on line.

26 Why Automated Billing? Receive Up-to-Date Invoices! If payment is submitted by the invoice due date, changes will appear on the next invoice. Save Time and Money! The invoice process is simpler and requires less of your valuable time. Get Timely and Convenient Access to Invoices! Use Online Billing 24 Hours a day, seven days a week. Get Prompt Responses to Inquiries! Have direct access to billing specialists. Receive a response to your inquiries within 48 hours or less.

27 Thank You!