Independent ~ Proven Experience ~ Market Strength Presentation
for UNION COUNTY PUBLIC SCHOOLS, TENNESSEE August 2, 2011 Unlock
Your Benefits Administration and Enrollment Potential With...
Employee Benefit Portal Electronic Enrollment with one-on-one
counseling T & S will provide substitutes Our Benefit
Representatives are not paid a commission We are totally
independent T & S provides live Customer Service. You are not
told to contact the carrier. You can call: 1-888-908-2637
Independent ~ Proven Experience ~ Market Strength 3
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My Benefits Portal Your employee benefits on line. Available to
you 24/ 7. 4 4
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TCRS and Union County Public Schools Analysis of coverage 6
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Disability retirement: TCRS Provided disability benefits are a
component of your state retirement pension plan. Benefits vary if
incurred off the job or on the job. Benefits can vary by length of
service. Approval for benefits is not automatic. The application
process normally takes 2-3 months. Disability defined: permanent in
nature. Benefits are designed to provide a secure income to you if
you become sick or injured, can no longer perform the essential
duties of your job, and have a condition that is permanent in
nature. 7
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Disability benefits Analysis of coverage 8 8
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1. Provides employees with greater flexibility to customize
disability plan 2. Employee can choose from 6 Elimination Period
options 3. Employee can elect increments of $100 up to 67% of
covered income up to $7,500 per month 4. First 12 months of
disability does not offset with any sources of income Educator Plus
5. 1 st Day Hospital Benefit: If Elimination Period is 30 days or
less, the Elimination Period is waived for in patient admittance
(i.e.. Pregnancy) Educator Plus Highlights of Disability Plan
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6. Minimum benefit is 25% Educator Plus 7. Limited Pre-Existing
Benefit: 3 month benefit is payable if disability is determined to
be a pre-existing condition Educator Plus 8. Extended Disability:
Additional benefit amount paid for 5 years beyond maximum durations
if 2 of 5 ADLs cannot be met Highlights of Disability Plan
continued.. 12
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Comparison of rates $36k salary, $1,800 benefit Educator
plansUSAble - 1USAble - 2Reliance Standard Plan 1 Elimination
period 1 / 461 / 610 / 314 / 1430 / 3061 / 6190 / 90 Ages 25-29
$50.40$21.24$47.88$39.60$28.08$18.00$7.92 Ages 35-39
$56.88$27.36$52.56$49.50$37.98$23.40$17.64 Ages 45-49
$69.48$38.88$63.00$56.70$54.36$33.12$30.78 Ages 55-59
$95.40$61.92$90.72$83.34$81.00$55.80$48.42 13 Keep in mind these
plans automatically combine short and long-term coverage.
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Financial strength USAbleReliance Standard Insurance in
force$38 billion$144 billion Total assets$392 million$3.5 billion
AM BestAA 14
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Group Life benefits Analysis of coverage 15 15
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Base Life and AD&D Your Base Life and AD&D benefit will
now be provided by Reliance Standard. Your new benefit amount will
be $12,000 life and accidental death and dismemberment. 16
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Voluntary Life benefits Analysis of coverage 17 17
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Key provisions 18 AgeUSAbleRLSI Max issue employee 5 x salary
to $300k$500k Guarantee issue employee 5 x salary to $100k$200k
Reduction formula 1/3 at age 65 and again at age 70 To 60% @ 75, to
35% @ 80, to 27.5% @ 85, to 20% @ 90 Spouse guarantee issue50% of
ee to $30k $50k, and is not tied to ee participation Child
benefit$10k Waiver of premiumAfter 6 months, to age 65After 6
months, to age 70 Accelerated death benefit50% up to $150k50% up to
$250k Portability Included at different rates, may not be retired
or disabled Included at different rates, may be retired Conversion
Included 18
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Rate Comparison of Voluntary Group Term life $75,000 Example of
$75,000 of Coverage Monthly Premium AgeUSAbleReliance Standard 25 -
29$6.00$4.88 35 - 39$10.50$7.13 45 - 49$27.00$18.00 55 -
59$73.50$47.25 19
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1.Rates are 20% to 40% lower on every age band than in force
plan 2.The maximum benefit level is increased from $300,000 to
$500,000 3.There is no salary limitation on the benefit amount for
employees 4.Guarantee Issue Amount is increased from $100,000 to
$200,000 for employees 5.Guarantee Issue Amount for spouse is
increased from $30,000 to $50,000 6.Spouse only coverage allowed
7.Spouse not capped at 50% of employee amount 8.Spouse can elect
amount up to $500,000 9.Age reduction doesnt begin until age 75 for
employee. Which is increased from 65 under the current plan
10.Portability included RECOMMENDATION RELIANCE STANDARD 20
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Permanent Life benefits Analysis of coverage 21
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If I had my way I would write the word insurance over the door
of every house, because I am convinced that for the sacrifices
which are considerably small, families can be secured against
catastrophes which would otherwise smash them forever. Winston
Churchill said: 22
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A man who dies without adequate life insurance should have to
come back and see the mess he created. Will Rogers said: 23
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24 Why do employees prefer permanent life insurance made
available at work? Individually owned policy that follows an
employee into their retirement years with premiums that will not
increase with age. What is the annual % of death claims paid by
life insurance? Permanent life:97% Term life: 3% 24
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Independent ~ Proven Experience ~ Market Strength Fidelity
Lifetime Life Insurance & Long-Term Care Life Insurance
w/Guaranteed Rates to age 120 Long-Term Care Protection to age 120
Accelerated Death Benefit for Terminal Illness Guaranteed rates to
age 120, portable and individually-owned! Other Group Life coverage
decreases with age and premiums increase. Pays 4% of Face Amount
paid monthly for up to 75 months (6+ Years)! Automatically
included, 50% of Face Amount advanced if diagnosed with a terminal
illness This is the most ECONOMICAL and EASIEST way to buy LTC
COVERAGE! 25
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Fidelity Lifetime Life Insurance & Long-Term Care Future
Purchase Option Limited Underwriting Protects future insurability,
opportunity to increase coverage on an annual basis, even as health
changes! Employee Coverage Spouse Coverage Child(ren) Coverage Up
to $75,000 for employees, NO HEALTH QUESTIONS Up to $150,000 for
employees, 3 HEALTH QUESTIONS Up to $75,000 for spouses, 3 HEALTH
QUESTIONS Childs Term Rider Benefit covers all dependent children
in family (18 and under on issue date, can remain on until age 26).
NO HEALTH QUESTIONS 26
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Cancer Plan benefits 27
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Dental Plan benefits 28
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Humana Dental Renewing dental benefits with Humana Current
12thlyRenewal 12thly Schedule D Elite Choice 405Schedule D Elite
Choice 405 Single$16.70$23.58$16.70$25.68 E +
1$31.38$47.32$31.38$51.54 Family$48.42$86.68$48.42$94.40 Current
10thlyRenewal 10thly Schedule D Elite Choice 405Schedule D Elite
Choice 405 Single$20.04$28.30$20.04$30.82 E +
1$37.66$56.78$37.66$61.85 Family$58.10$104.02$58.10$113.28 29
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Benefits Humana Base planBuy-up plan Annual deductible$50$25
Provider networkNone Out-of-network reimbursementN/A80th percentile
U&C Preventive services Paid according to schedule 100% Basic
services Paid according to schedule 80% Major services Paid
according to schedule 50% Ortho services50% Annual max$1,000 Ortho
lifetime max$1,000$1,500 30
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Dental Return On Investment Average single adult retail
expenses are $326 for preventive services Average retail expenses
for a family of four for preventive services is $1304. Average
single premium paid for year of $308. Average family premium for
year of $1133. Dental Benefits vs. Premiums Elite Choice 405 Plan
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Vision Plan benefits 32
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SUPERIOR VISION New Vision Carrier SUPERIOR VISION Superior
Vision has a combination of better benefits and network access Rate
guarantee for 3 years Rates Humana renewal rates (12thly) Superior
12thly Rates Superior 10thly Rates Employee Only$8.34$7.22$8.66
Employee + 1$16.66$13.98$16.78 Family$22.32$20.58$24.70 Rate
Guarantee2 Years3 Years 33 Current PlanNew Plan
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Benefits Superior Copays Exam$10 Materials$15 Frequencies
12/12/24 Network benefits Exam100% after copay Single vision
lenses100% after copay Bifocal vision lenses100% after copay
Trifocal vision lenses100% after copay Frame allowance$100 Contact
lens allowance$120 Fitting fee$25 copay (Previously $40 wholesale)
(Previously $105) (Previously deducted from allowance)
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Sample of network providers Remember that not all providers are
contracted for all services and/or discounts. Prior to your
appointment, confirm services, discounts, and acceptance of the
Superior Vision Plan with the provider.
http://www.superiorvision.com/ Providers < 20 miles of district
officeHumanaSuperior Associates in EyecareMaynardvilleYes Halls
Vision ClinicKnoxvilleYes Dr. Mary Ann Marston &
Assoc.KnoxvilleYes LenscraftersKnoxvilleYes Sears
OpticalKnoxvilleYes John CondryKnoxvilleYes Mountain City
EyecareKnoxvilleYes Elliott EyecareClintonYes Turner
VisionKnoxvilleYes Dr. Mark Lynn & Assoc.KnoxvilleYes Dr.
Philip JarmonKnoxvilleYesNo Wal-MartKnoxvilleNoYes Volunteer
EyecareKnoxvilleNoYes Sam's ClubKnoxvilleNoYes Dr. Bizer's
VisionWorldKnoxvilleNoYes Rhyne and Patton
OptometristsKnoxvilleNoYes Center for SightKnoxvilleNoYes The
Optical CenterKnoxvilleNoYes 35