Group Life Insurance Products
Anthem Life’s product offerings for employee benefit plans include group term life, accidental death and dismemberment (AD&D), dependent life and supplemental life. The employer selects the coverage and benefit amounts and pays all or part of the premium. Products and availability vary by state.
Group Term Life Insurance
Anthem Life’s group term life insurance does a lot for something so simple and affordable. For pennies on the dollar, employees can be covered for a designated benefit amount or a multiple of salary.
Our standard plans include special features for added protection. Waiver of premium provisions can continue coverage without further premium payments for employees who become totally disabled. Living benefit provisions allow employees to receive up to 75% of their death benefit in advance if they are diagnosed as terminally ill (less than 12 months to live). Additional conditions may qualify for living benefits in some states.
Basic employee coverage is just the beginning. It’s easy to extend that coverage by offering employees the opportunity to buy group term life insurance for their dependent spouses and children, or supplemental group term life insurance for themselves.
Group Accidental Death and Dismemberment Insurance (AD&D)
Our group accidental death and dismemberment insurance provides additional benefits to help families deal with the sudden and unexpected needs that may arise if an employee has a serious accident.
The accidental death benefit is usually equal to the employee’s group term life insurance benefit amount. The accidental death benefit may be increased by up to 10% if the employee dies in an auto accident while wearing a seat belt.If the employee loses his or her sight or loses one or more limbs as a result of an accident, a percentage of the death benefit (typically 50% to 100%) is payable.
If the benefit plan offers supplemental group term life insurance, the employer can choose to include supplemental AD&D. In that case, the coverage will automatically include supplemental AD&D equal to the employee’s supplemental life benefit.
Group Disability Insurance Products
Our disability insurance plans help replace income when employees can’t work due to a disability, so they can focus on what’s most important – getting better. But our disability plans go beyond just providing benefits checks – we provide products and services to help employees get back to a productive life and back to work.
Group Short-Term Disability Insurance
Short-term disability (STD) insurance pays benefits for employees when their income is temporarily interrupted by an accident or sickness. But disability insurance should be about more than just income replacement. That's why Anthem includes Productivity Solutions as a standard feature in all of our large group STD plans for our customers with Anthem health benefit plans in CO, IN, KY, MO, OH, NV and WI.
Productivity Solutions integrates all 360° Health® care management and health improvement programs with Anthem’s STD plans. This new approach offers real advantages over traditional disability programs by changing the focus of the disability program from simply replacing income to getting employees back to their regular life and back to work, while at the same time reducing incidence of repeat disability claims and reducing health plan claim costs.
For customers in all states, for all size groups, with Anthem health benefit plans, we integrate STD plans with 360 Health® ConditionCare and Future Moms programs. If an employee files an STD claim for a diagnosis covered by ConditionCare or Future Moms, we will automatically refer them to the appropriate program. The benefit – healthier employees that may be able to return to work more quickly.
We offer a wide variety of plan design options and include extras to help employees deal with their disability, like Resource Advisor support services. If employees have to limit their duties or work reduced hours because of a disability, partial disability benefits can help bridge the income gap while they return to full capacity.
Group Long-Term Disability Insurance
A serious disability takes away more than an individual’s earnings – it can take away their sense of control over their own life. Anthem believes disability protection should provide the support and assistance necessary to help the individual return to a healthy and productive life.
We believe the key to recovery is the understanding that having a disability does not mean that a person is disabled. We can create a vocational rehabilitation plan specific to each individual, and then provide extensive support services to help them achieve maximum recovery, one manageable step at a time.
Our standard plans include coverage for normal pregnancy the same as any disability, cost of living freezes to limit benefit reductions when payments from other sources increase, special coverage for recurrent disabilities, waiver of premium during disability payments and survivor benefits. Other options are available.
Voluntary Insurance Products
Voluntary products let each employee choose coverages and benefit amounts to meet their own needs.
The coverage is employer-sponsored, expanding the range of benefits the employer offers. Employees make their own benefit choices then pay for whatever coverage they select. The employer collects the premiums through payroll deduction, making the employee’s premium payments easy and automatic.
Anthem Life’s voluntary group term life (VGTL) plans offer generous amounts of insurance at affordable rates. Employees can select group term life coverage for themselves, and may also include coverage for their spouse and children. Employee coverage includes waiver of premium and living benefit features.
The employer chooses whether to include accidental death benefits in the VGTL plan offering. If included, each employee is covered for an accidental death benefit equal to his or her voluntary group term life insurance benefit amount.
Our VGTL coverage keeps working for employees even if they move on. Coverage is portable, so employees who leave the company can take it with them. We will bill them at home or automatically deduct each premium from their checking account. It’s an easy and affordable way to buy some peace of mind.
As medical costs rise, the need to focus fringe benefit dollars on providing good health insurance coverage has made it increasingly difficult for employers to include disability coverage in their benefit packages. Offering voluntary disability insurance products is an excellent way to keep a company’s benefit package comprehensive, so employees can have protection for both their health and their earnings.
Anthem Life offers voluntary short-term disability (VSTD) and voluntary long-term disability (VLTD) plans. Today, those products are available in our Western marketing region. During 2003 we will introduce voluntary disability coverage throughout our marketing regions.
Voluntary accidental death and dismemberment (VADD) coverage is one of the best bargains around. Employees can buy large amounts of protection for themselves and their family, for a very reasonable price, without having to answer health questions to determine their insurability. Currently, Anthem Life’s VADD product is offered only in our Western marketing region.
Administrative Services (ASO plans)
Sometimes larger employers prefer to fund employee benefits for short term disabilities as they occur, rather than buying a traditional insurance plan. But removing the insurer from the picture means the employer becomes responsible for all of the specialized functions involved in administering an STD plan. That may be more than the employer wants to take on. An Administrative Services Only plan can give employers the best of both worlds.
With an ASO plan, the employer funds the claim payments but pays Anthem Life to process the claims. That relieves the employer of the responsibility for deciding which claims qualify for payment under the benefit plan and which ones don’t.
Having Anthem Life make the payment determinations gives the employer full access to our experience and resources, ensures the privacy of employee health information and protects the employer and employees by providing a totally objective claim evaluation process.
Under a standard ASO arrangement, Anthem Life investigates and evaluates claims, prepares biweekly benefit payments and sends the payments to the employer for distribution. We handle required withholding for income taxes and for the employee’s portion of Social Security and Medicare taxes. Then we provide detailed monthly and annual paid claim reports to keep the employer fully informed.
Anthem Life can customize the services to meet special needs:
- Coordinate claim activity and reporting for multiple employer locations
- Pay benefits weekly, or mail benefit checks directly to employees, or send the employer a payment advisory instead of a benefit check so the employer can make payments through their payroll system
- Perform tax withholding beyond what is required, or produce W-2s and W-2 data filings
- Prepare benefit plan description materials for employees
Our flexible ASO services let each employer define the ideal balance of control and protection. The employer gains the desired cash flow advantages. Anthem Life provides professional claim evaluation and does as much (or as little) of the benefit administration as the employer chooses.
Anthem Life's support services are designed to improve your well-being by helping you manage problems before they become an emotional or financial burden.