added protection for your clients
TRANSCRIPT
Added Protection For Your Clients
TODAY’S AGENDA
• Washington National Products
• Individual Adult Dental
• Special Enrollment Period Qualifying Events
• Closing Remarks
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Introducing Washington National Critical Illness, Accident and Life Insurance
CUSTOMER EXPERIENCE
• Offer our customers products & services beyond medical
‒ Deliver added value
‒ Provide an umbrella of financial protection
₋ Exceed customers base expectations
• For you – sales opportunities outside of open enrollment
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PARTNERING WITH WASHINGTON NATIONAL
• Quality of their products
• Their ability to adapt well to our market needs
• Shared value on delivering the highest level of customer service
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Rob Gasiorek Senior Sales Director, Washington National
WASHINGTON NATIONAL
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• History back to 1911
‒ Group health plans for teachers
‒ Licensed in 49 states, PR, VI and Guam
• 1 million policyholders
‒ 5,000 independent agents
‒ 25,000 groups
• Strong market focus
‒ Middle-income Americans
‒ Supplemental health and life insurance
‒ Individual & Voluntary Worksite
‒ Cash Value
STRONG SALES RESULTS
2013 Sales Success
+15 Supp Health +2% over 2013 plan
Top 5 Voluntary Accident & Cancer Illness**
Percent Change
2012 Total Voluntary
WNIC 18%
Industry 7%
***LIMRA Worksite Marketing of Voluntary Products 3Q12
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STRONG FINANCIALS*
*As of December 31, 2012
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• CNO Financial Group (parent company)
• $34.8 billion assets
• Washington National
‒ $3.1 billion assets
‒ $2.7 billion policy reserves
‒ $609 million collected premium
‒ $390 million paid policy benefits
• A.M. Best: B++ rating
AM BEST
A.M. Best views the recent long-term care reinsurance
agreement with Beechwood Re and this current transaction, pending its closing, as a credit positive for CNO Financial
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WASHINGTON NATIONAL
WNIC 528%
Risk Based Capital Ratio as of December 31, 2013
Financial condition and contractual obligations of CNO Financial
Group are separate from its subsidiaries.
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PHILANTHROPIC EFFORTS
We go beyond the reach of our insurance products to partner with these hard-working organizations, including HOPE’s $100,000 endowment gift to the I.U. Foundation Simon Cancer Center and $100,000 endowment gift to the American Cancer Society:
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WHAT MAKES US DIFFERENT?
• Long history in supplemental health industry
‒ Creates tremendous stability in rates
• Accident* & Critical Solutions Guaranteed Renewable for Life
• Minimal underwriting with knock-out questions on the application
‒ Point of sale knowledge of acceptance
• Critical illness policy that can meet every market’s needs
‒ Issue age 18-85
*Accident base policy only
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MARKETING SUPPORT
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QUESTIONS?
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WASHINGTON NATIONAL CRITICAL SOLUTIONS
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WHY CRITICAL ILLNESS POLICIES?
61% of costs are nonmedical
According to Harvard University study, 50% of personal bankruptcies filed in the U.S. are attributed to medical costs*.
75% of those had major medical coverage.*
The average cancer patient with health insurance incurs $712 in monthly bills for co-payments, prescription drugs and other expenses related to treatment.**
*Harvard study 2006, Dr. David Hammelstein ** “Cancers Growing Burden: The High Cost of Care”, USA Today, Feb 12, 2012
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CRITICAL SOLUTIONS HELPS COVER EXPENSES
Insurance short fall
Deductibles
Co-payments
Benefit limitations
Special expenses
Transportation
Hotels
Special diets
Family care
Living expenses
House payments
Car payments
Utilities (gas/electrical)
Loss of income
Continues $ stream
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CRITICAL SOLUTIONS FEATURES
• Issue ages 18 – 85; guaranteed renewable for life • 2 plans with three simple options
‒ Cancer only ‒ Heart attack, stroke, kidney failure only
‒ Combined cancer, heart attack, stroke and kidney failure • Benefit levels $10,000 – $70,000 • Can be sold with 50% or 100% Return of Premium • Simplified underwriting – 7 total questions. Answer NO and it’s a
GO. ‒ No Medical Information Bureau, prescriptions check, phone
interview, family history or medical records
‒ Less than 3-day turnaround
CRITICAL SOLUTIONS PLAN FEATURES
*Availability of benefits may vary by state
Critical Solutions Option A Option B
Lump Sum benefit
Wellness benefit
Hospital confinement
Consultation benefit
Radiation and Chemotherapy benefit
Return of Premium
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FEATURES AND BENEFITS-PLAN A
Lump Sum Benefits
• $10,000 to $70,000
• First diagnosis of cancer, heart attack, stroke or kidney failure
• Payable once per insured
• Coverage for children $10,000
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MONTHLY CRITICAL SOLUTION RATES (NON TOBACCO)
Cancer Only – Option A, Base Rates Annual Rates (without ROP)
Age $10,000 $30,000 $50,000
18-39 $246.00
50-59 $198.00 $594.00 $990.00
65-69 $318.00 $954.00 $1,590.00
80-85 $386.40 $1159.20 $1932.00
• Minimum allowable premium is $15 per month / $180 per year •Child rate $1.50 per month, covers all children $10,000 benefit
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FEATURES AND BENEFITS-PLAN B
Hospital Confinement Benefit
• $200 per day, 1 to 30 days
• $400 per day, 31+ days
Consultation Benefit
• $250 after diagnosis
• One time benefit
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Radiation
• $200 per day
• No monthly maximum, no lifetime maximum
Chemotherapy – injected by medical personnel
• $200 per day
• No monthly maximum, no lifetime maximum
Chemotherapy – self administered
• $200 per prescription
•Monthly maximum $1,600
• No lifetime maximum
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FEATURES AND BENEFITS-PLAN B
Wellness Benefit
• $50 per year for cancer only or heart/stroke/kidney only
Wellness Benefit
• $100 per year combined cancer, heart/stroke/kidney
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FEATURES AND BENEFITS-PLAN B
MONTHLY CRITICAL SOLUTION RATES (NON TOBACCO)
• Minimum allowable premium is $15 per month / $180 per year • Child rate $2.20 per month, covers all children $10,000 benefit
Cancer only – w/Option B, Base Rates Annual Rates (without ROP)
Age Option A, 30K Option B A + B Rate
18-39 $147.60 $64.80 $212.40
50-59 $594.00 $130.80 $724.80
65-69 $954.00 $165.60 $1119.60
75-79 $1119.60 $192.00 $1311.60
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• 50% or 100% of premiums paid returned every 20 years less claims incurred or on the rider anniversary date following 75th birthday if that comes sooner.
100% Return of Premium example:
• If the insured begins a return-of-premium period age 66 or older, the return of premium period is every 10 years and one-half of returned premium amount.
RETURN OF PREMIUM RIDER
No Claim Claim Large Claim
Premium $ 7,200 $ 7,200 $ 7,200
Claim - $ 0 - $ 4,000 - $ 20,000
Returned Premium
$ 7,200 $ 3,200 $ 0
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APPLICATION AND PAYMENT
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• WNezApp – quick, efficient and all inclusive
• Paper application ‒ Submit via mail or fax
‒ Application and supporting documents on www.wnbizlink.com
• Effective date based on date the enrollment form is received in home office, unless otherwise requested ‒ 30-day waiting period
‒ Policy mailed directly to policyholder’s home address, unless the “mail to agent” box on the application is marked.
• Payment options ‒ Annual or Semi-annual - check or EFT
‒ Monthly – EFT only
SUMMARY
Kelly’s Top 14 reasons to sell Critical Solutions
#14 – Issue Ages 18 to 85
#13 – Simplified issue; Answer “No” and it’s a “Go”
#12 – 24 to 48 hours; submit to issue timeline
#11 – 2 cancer Q’s; 2 heart/stroke/kidney Q’s
#10 – Three ways to sell the product; C/HSK/Combined
# 9 – Liberal height/weight chart (used for heart only)
# 8 – Only 5-year look-back for cancer, heart, stroke
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Kelly’s Top 14 reasons to sell Critical Solutions
# 7 – No Medical Information Bureau; Rx check; phone interview
# 6 – Unique Option B benefits increase persistency
# 5 – 50% and 100% Return of Premium
# 4 – Competitive & issue age rates.
# 3 – Lump sum amounts up to $70k per benefit category
# 2 – Increase your revenue - commissions paid weekly
# 1 – Because 13 is an unlucky number!
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SUMMARY
QUESTIONS?
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WASHINGTON NATIONAL ACCIDENTassure
WHY BUY ACCIDENTassure?
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• Every second of the day, someone is disabled from an accidental injury in the U.S.*
• 78% of all accidents in the U.S. happen outside of the workplace.*
• 82% of all costs related to accidental injuries are nonmedical.*
*National Safety Council, Injury Facts, 2012 edition
ACCIDENTassure FEATURES
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• Issue ages 18-69 ‒ Applies to main insured and spouse ‒ Children covered up to age 26 regardless of student status
• Composite rates, no age banding Individual ‒ Individual & spouse ‒ Individual & children ‒ Family
• Two levels offering three areas of benefits:
– Accidental Death and Dismemberment – Hospital / Doctor Indemnity – Specified Injury Benefits
• Simplified underwriting, short application
• Base plan covers accidents on & off the job, regardless of profession
ACCIDENT BENEFITS Benefit Level 1 Level 2
Hospital Confinement $ 300 $ 500
Intensive Care $ 600 $1,000
Ambulance – Ground $ 150 $ 250
Ambulance – Air $1,000 $1,500
Emergency Room $ 300* $ 500*
Doctor Visit Includes Chiropractor $ 30 $ 50
Family Lodging $ 100 $ 125
Blood and Plasma $ 100 $ 200
Physical Therapy $ 30 $ 50
Medical Imaging CT, MRI, EEG $ 150 $ 200
This is not a complete listing. Check Agent Guide for complete list of accident benefits. *Separate child benefit.
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SPECIFIED INJURY BENEFIT SCHEDULE
This is not a complete listing. Check Agent Guide for complete list of accident benefits.
Covers 14 different fracture types
Benefit Level 1 Level 2
Hip or thigh $2,400 $3,200
Leg $1,500 $2,000
Foot, ankle or kneecap $1,200 $1,600
Forearm or hand $1,200 $1,600
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Covers 9 different dislocation types
Injury Type Level 1 Level 2
Hip $2,200 $3,000
Knee (not kneecap) $1,600 $2,100
Shoulder $1,200 $1,600
• This is not a complete listing. Check Agent Guide for complete benefit schedule.
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SPECIFIED INJURY BENEFIT SCHEDULE
Lacerations
Benefit Level 1 Level 2
More than 5 inches $300 $400
2 to 5 inches $150 $200
Up to 2 inches $75 $100
This is not a complete listing. Check Agent Guide for complete list of accident benefits.
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SPECIFIED INJURY BENEFIT SCHEDULE
Covers 5 different surgeries
Benefit Level 1 Level 2
Tendon or ligament
Single $600 $800
Multiple $900 $1,200
Ruptured disc
During first year of coverage $150 $200
After first year of coverage $600 $800
Torn cartilage
During first year of coverage $150 $200
After first year of coverage $300 $400
This is not a complete listing. Check Agent Guide for complete list of accident benefits.
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SPECIFIED INJURY BENEFIT SCHEDULE
Benefit Level 1 Level 2
Paraplegia $5,000 $10,000
Quadriplegia $6,250 $12,500
This is not a complete listing. Check Agent Guide for complete list of accident benefits.
Paralysis
Benefit Level 1 Level 2
Second –or third degree burn $900 $1,200
Burns
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SPECIFIED INJURY BENEFIT SCHEDULE
ACCIDENTAL DEATH & DISMEMBERMENT
Accidental Death Benefit Level 1 Level 2
Policyholder or Spouse $50,000 $75,000
Child or Children (to age 26) $12,500 $18,750
Dismemberment Schedule For Policyholder or Spouse
(separate schedule for children)
Level 1
Level 2
Finger or Toe $1,250 $ 2,000
More Than Finger or Toe $1,500 $ 2,500
Eye, Hand, Foot, Arm, Leg $7,500 $12,000
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This is not a complete listing. Check Agent Guide for complete list of accident benefits.
ACCIDENTassure – OPTIONAL RIDER
• Physician’s Office Additional Benefit Rider
‒ Payable two ways
• $200 benefit designed to cover non-emergency room injuries not covered in base policy
• Physician’s office benefit is paid along with other benefits that are covered in the base policy, this rider pays an additional $50 instead of $200
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PHYSICIAN’S OFFICE BENEFIT RIDER
Injury Cause
Treatment
Diagnosis
Benefit
Amount
Fall Doctor office visit, x-ray (to determine if bone is
fractured), pain medication
Arm pain and NO fracture
• Physician’s office visit • Physician’s office
additional benefit rider
• $50 • $200
Fall Doctor office visit, x-ray (to determine if bone is
fractured and then set correctly), cast, sling, pain
medication
Arm pain
and fracture
• Physician’s office visit • Physician’s office
additional benefit rider • Fracture
• $50 • $50
• $1,600
Example
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ACCIDENTassure – OPTIONAL RIDERS
• Public Safety Rider
‒ $2000 for one gunshot wound received from conventional firearm while in the line of duty
‒ Public sector law enforcement officers, correctional officers, probation and parole officers, EMTs, TSAs, paramedics & firefighters
‒ Policyowner only
‒ Treatment received within 24-hour period
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• Return of Premium Rider
‒ 100% premiums paid returned every 20 years minus claims incurred or on the rider anniversary date following 75th birthday if that comes sooner.
‒ If the insured begins a return-of-premium period aged 66 or older, the return of premium period is every 10 years and one-half of premiums paid.
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ACCIDENTassure – OPTIONAL RIDERS
RETURN OF PREMIUM RIDER
Example100%
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No Claim Claim Large Claim
Premium $ 9,600 $ 9,600 $ 9,600
Claim - $ 0 - $ 2,000 - $ 20,000
Returned Premium
$ 9,600 $ 7,600 $ 0
ACCIDENTassure – RATE EXAMPLES
Monthly Rates, Base Plan – Same rates ages 18-69
Without Return of Premium
Benefit Level 1 Level 2 Physician Rider
Public Safety Rider
Individual $17.30 $26.80 $1.40 $1.60*
Individual & Child $23.60 $36.60 $2.90 $1.60*
Individual & Spouse $23.20 $36.00 $2.20 $1.60*
Family $31.20 $48.40 $3.90 $1.60*
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*Rider available to policyholder only
Monthly Rates, Base Plan – Same rates ages 18-69
With Return of Premium
Benefit Level 1 Level 2 Physician Rider
Public Safety Rider
Individual $27.70 $42.90 $2.20 $2.60*
Individual & Child $37.80 $58.60 $4.60 $2.60*
Individual & Spouse $37.10 $57.60 $3.50 $2.60*
Family $49.90 $77.40 $6.20 $2.60*
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*Rider available to policyholder only
ACCIDENTassure – RATE EXAMPLES
ACCIDENTassure - UNDERWRITING
• 3 simple questions for the base policy
‒ Are you replacing any accident policy either with Washington National or another carrier?
‒ Do you own any accident, hospital indemnity and/or disability insurance which is not being ended?
‒ Within the past 5 years have you been convicted of a felony, reckless driving or driving under the influence of drugs or alcohol?
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• Cannot own more than one accident product from Washington National
• Can own Level 1 or 2, but not both
• No individual may own more than $1,000 per day of hospital confinement from any combination of carriers
‒ Other Accident and Hospital Indemnity policies count, Major Medical plans do not count
‒ Divide confinement benefit by 5 to determine per day benefit (i.e. $1,000 per confinement = $200/day benefit)
• Intensive Care Unit confinement benefits limited to $1,500 per day
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ACCIDENTassure - UNDERWRITING
APPLICATION AND PAYMENT
• WNezApp – quick, efficient and all inclusive
• Paper application ‒ Submit via mail or fax
‒ Application and supporting documents on www.wnbizlink.com
• Effective date based on date the enrollment form is received in home office, unless otherwise requested ‒ Policy mailed directly to policyholder’s home address, unless the
“mail to agent” box on the application is marked.
• Payment options ‒ Annual or Semi-annual - check or EFT
‒ Monthly – EFT only
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SUMMARY Top 14 reasons to sell ACCIDENTassure
#14 – Issue Ages 18 to 69, guaranteed renewability
for Life
#13 – Answer “No” and it’s a “Go”
#12 – No health Q’s on the base Accident plan
#11 – Only knockout is felony, reckless driving, DUI
#10 – Use Ezapp & submit to issue is only 24 to 48 hours
# 9 – Commissions paid weekly
# 8 – Benefits & rates VERY competitive; composite rates
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# 7 – Return of premium options
# 6 – Two Levels of product available
# 5 – ER benefit stands out vs. competition
# 4 – No coordination of benefits; claims paid to client
# 3 – Three categories of benefits
# 2 – Benefits paid at scheduled amount; not up to
And the #1 reason:
# 1 – Because your clients will thank you!
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SUMMARY
QUESTIONS?
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WASHINGTON NATIONAL LIFEassure
WHY LIFE INSURANCE?
Life Insurance protects survivors by covering losses that can’t easily be replaced, such as income and lifestyle.
Yet:
• Thirty percent of U.S. households have no life insurance at all; only 44 percent have individual life insurance.
• Fifty percent of U.S. households (58 million) say they need more life insurance.
• The average amount of coverage for U.S. adults has declined, down $30,000 from the average coverage in 2004.
• 4 in 10 households with children under 18 now include a mother who is either the sole or primary earner for her family yet, among women who have life insurance, their coverage is only 69 percent of the average coverage on men.
Source: LIMRA – Facts About Life 2013
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LIFEassure FEATURES AND BENEFITS
• Two plan options – Unique level-premium to-age-65 plan, issue ages 18–55 – Traditional Level-premium 15-year plan, issue ages 18–65
• Coverage amounts – $10,000 - $250,000
• Premiums – Unisex; issue-age rated – Tobacco use
• Riders — Optional Return of Premium benefit — Accelerated Benefit Rider for Terminal Illness (no cost – auto added) — Children’s level term insurance - $10,000 — Accidental death benefit — Critical illness — Total and Permanent Disability Benefits Waiver of Premium
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FEATURES AND BENEFITS • Level-premium 15-year term plan
– Premiums are level for the full 15-year term based on issue age – After 15 years, full coverage may be kept in force at a premium rate that
increases annually, up to age 98
• To-age-65 term plan – Coverage until age 65 with level premiums based on issue age – At age 65 full coverage may be kept in force at a premium rate that
increases annually, up to age 98
• Return of Premium Option – Provides a 50% refund of base policy premiums at the end of the term – If cancelled before end of the term, premium cash value is based on a
schedule stated in the policy
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LIFEassure TERM TO-AGE-65 WITH RETURN OF PREMIUM
Non-Tobacco
Insurance Amount
Age Monthly Premium
To-age-65 Reduced paid-up Cash Value Extended Term
To-age-65 to-age-98 At-age-65 Insurance
25 $28.17 $100,000 $14,697 $6,761 4 years, 309 days
35 $40.67 $100,000 $15,914 $7,321 5 years, 81 days
45 $81.08 $100,000 $21,150 $9,730 6 years, 290 days
Guaranteed
Paid-up life insurance to-age-98
High Ins Amount To-Age-65
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WASHINGTON NATIONAL ASSURE TERM TO-AGE-65 WITH ROP
If policy owner terminates policy before age 65, 3 options
Policy Year
End of Year Age
Return of Premium Cash Value
Paid-up Life Insurance Amount
Extended Term Insurance Period
10 45 $391 $1,677 1 Yr 326 Days
20 55 $2,929 $8,745 5 Yrs 61 Days
30 65 $7,321 $15,914 5 Yrs 81 Days
Guaranteed
Issue age 35, Nontobacco $100,000 face amount, $40.67 monthly premium
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LIFEassure RIDERS
• FREE Accelerated Benefit Rider for Terminal Illness (N/A in WA)
– Advances up to 50% of the policy’s face amount if an insured is diagnosed as terminally ill
– Will reduce face amount – Issued automatically with base policy
• Children’s Level Term Insurance – Covers $10,000 on all eligible children – Requires the same health questions as adults – Covers newborns after15 days without Evidence of Insurability – Can be added to employee or spouse policy but not both – Continues to child’s age 23 or insured’s age 65, whichever comes first – Can be converted for up to 5 times the rider’s face without Evidence of
Insurability
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• Accidental Death Benefit (N/A in WA)
– Pays an additional 100% of policy’s face amount, up to $150,000 if the insured dies from a covered accident on the road, at work, or home
• Critical Illness (N/A in WA)
– Is built off of the Washington National Critical Solutions® product
– Pays a one-time $5,000 lump-sum benefit
– Covers heart attack, stroke, cancer and end-stage renal failure
– Is a standalone benefit doesn’t impact base policy’s face amount
– Requires NO additional underwriting or health questions
– Has a 30-day waiting period (If a critical illness occurs during first 30 days of coverage, no benefits are provided and the rider premium is refunded)
• Total and Permanent Disability Benefits Waiver of Premium – Waives monthly policy premiums when the insured is totally and
permanently disabled for six months until recovery or reaches age 60
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LIFEassure RIDERS
AFFORDABLE PREMIUMS
Face amount: $100,000 Age 35 Nontobacco Monthly
Premium
Level premium To-age-65
Level premium 15-year
Benefit With ROP Without ROP With ROP Without ROP
Base Plan $40.67 $30.25 $34.83 $23.17
Children's Term Insurance rider $6.25 $6.25 $6.25 $6.25
Disability Waiver of Premium rider $1.57 $1.17 $1.35 $0.90
Accidental Death Benefit rider $9.17 $9.17 $9.17 $9.17
Critical Illness rider $5.42 $5.42 $5.42 $5.42
Guaranteed
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DOES YOUR CLIENT QUALIFY FOR COVERAGE?
• Cannot be employed by an excluded industry (see agent guide) • Cannot be an active military employee
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EVIDENCE OF INSURABILITY 2 SIMPLE LEVELS
Level based on face amount and age
Age Level 1 EOI Level 2 EOI
Up to 50 Up to $150,000 Greater than $150,000
51–55 Up to $100,000 Greater than $100,000
56–60 Up to $75,000 Greater than $75,000
61+ Up to $50,000 Greater than $50,000
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EVIDENCE OF INSURABILITY UNDERWRITING REQUIREMENTS
Level 1 Level 2
Tobacco usage question Tobacco usage question
Health questions Health questions
Medical Information Bureau Medical Information Bureau
Discretionary personal health interview Personal health interview
Discretionary prescription history check Prescription history check
At home vein draw (ordered by WN)
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PERSONAL HISTORY INTERVIEW
• Preparation for the call
– Primary physician and specialist names, addresses, phone numbers
– Dates and reasons for past visits
– Names and dosages of all prescribed medications
• 15 minutes
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LIFEassure APPLICATION & PAYMENT • Paper application ONLY
– Submit via mail or fax
– Application on www.wnbizlink.com
• Effective date based on issuance date unless requested otherwise on the application
– Policy mailed directly to policyholder’s home address
• Payment options
– Annual, Semi-annual or quarterly - check or EFT
– Monthly – EFT only
• Convertability provision allows policy owner to convert to permanent policy without providing insurability
– Must be exercised prior to the earlier of the end of the level premium term or attained age of 70.
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QUESTIONS?
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SELLING WASHINGTON NATIONAL PLANS
CONTRACTING AND APPOINTMENTS
• Separate appointment with Washington National
• Online appointment process
‒ washingtonnational.com/ezappoint
• Two steps
‒ Agency level
‒ Agent level
• Letter with detailed instructions mailed early May
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• Order marketing materials and supplies • Co-branded brochures • View commission statements • Download forms • Check status of pending business • Washington National News
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COMMISSIONS
• Commissionable premium collected x commission rate = commissions earned
• Paid weekly (file transmitted to bank each Monday)
• Paid through electronic funds transfer (EFT)
• Minimum payment is $25
• Commission statements online by 8 a.m. EST each Monday at wnbizlink.com
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CRITICAL SOLUTIONS COMMISSION
• Base Critical Illness – ages 18-64 ‒1st year: 45% ‒Years 2-8: 5% ‒Years 9+: 5%
• Base Critical Illness – ages 65-85 ‒ 1st year: 45% ‒ Years 2-8: 5% ‒ Years 9+: 5%
• With Return of Premium – ages 18-64 ‒ 1st year: 45% ‒ Years 2+: 0%
• With Return of Premium – ages 65-74 ‒ 1st year: 45% ‒ Years 2+: 0%
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ACCIDENTassure COMMISSION
• Plan 1 ‒ 1st year: 37% ‒ 2+: 5%
• Plan 2 ‒ 1st year: 45% ‒ Years 2+: 5%
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LIFEassure COMMISSION
• No Return of Premium – ages 18-65 ‒1st year: 65% ‒Years 2-10: 1% ‒Years 11+: 0.5%
• With Return of Premium – ages 18-59 ‒ 1st year: 65% ‒ Years 2-10: 1% ‒ Years 11+: 0.5%
• With Return of Premium – ages 60-65 ‒ 1st year: 50% ‒ Years 2-10 : 0.5% ‒ Years 11+: 0.25%
WASHINGTON NATIONAL BONUS PROGRAM
Earn a $50 bonus for your first issued policy!
Then earn an extra $100 bonus for every $3,500 in net annual premiums
through December 31, 2014
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Washington National retains the right to extend, terminate or modify this program at any time. You must be active and in good standing at the time of payout. This program applies only to qualifying assigned agents. For agent information only. This information should not be distributed to the public or used in any solicitation.
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INTRODUCING INDIVIDUAL PREFERRED ADULT DENTAL
• Product and rates
• Network
• Enrollment process
• Member communications
• Producer compensation
PREFERRED ADULT DENTAL PLANS
Pending DOI approval
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WHY DENTAL?
• Customer experience
• Specific request by you and consumers
‒ Low and high benefit option
‒ Statewide network
• Offer products and services that exceed customer base expectation … and in this case, help manage overall health
• Another measure of financial protection
Pending DOI approval
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PREMERA DENTAL PRODUCT • Two Options
‒ $50 Individual Deductible
‒ $75 Individual Deductible
• Preventive Services
– No waiting periods, no deductibles
• Basic Services
– No waiting periods
• Major Services
– 12-month waiting period
– Waived for Premera group members
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PREFERRED ADULT DENTAL PRODUCT DESIGNS
Sample Benefits (Detailed benefits / codes will be provided)
Deductible: $50 Ind/$150 Fam $1,000 Annual Maximum
Deductible: $75 Ind/$225 Fam $1,500 Annual Maximum
In-Network Out-of-Network In-Network Out-of-Network
Preventive Services (No deductible)
Exams - 2 per calendar year
10% 20% 0% 20% Bitewing X-rays
Fluoride (Under the age of 20)
Cleanings – 2 per calendar year
Basic Services (Deductible applies)
One surface amalgam filing
30% 40% 20% 40% One surface composite filing
Space Maintainer – fixed unilateral
Major Services (Deductible applies) 12-Month Waiting Period
Root scaling and planing – Per quadrant
60% 60% 50% 50% Root canal, anterior tooth
Crown – Porcelain fused to high noble
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DENTAL RATES Per Member
Age $50 Deductible $75 Deductible
19-25 $44 $64
26-34 $53 $79
35-44 $53 $79
45-49 $56 $82
50-54 $56 $83
55-59 $58 $86
60-64 $65 $97
65+ $65 $97
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RATE EXAMPLE MEDICAL WITH DENTAL
Preferred Select Bronze $5,500
Dental $75 Deductible
Total
25 $319.00 $64.00 $383.00
35 $388.00 $79.00 $467.00
45 $458.00 $82.00 $540.00
Preferred Select Silver $3,000
Dental $50 Deductible
Total
25 $373.00 $44.00 $417.00
35 $454.00 $53.00 $507.00
45 $536.00 $56.00 $592.00
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DENTAL NETWORK
Borough Dental Offices Unique Dentists
Aleutians West 2 2
Anchorage 200 152
Bethel 3 3
Bristol Bay 2 2
Dillingham 5 5
Fairbanks North Star 41 40
Juneau 8 8
Kenai Peninsula 22 21
Ketchikan Gateway 5 5
Kodiak Island 4 4
Matanuska Susitna 56 56
Sitka 2 2
Valdez Cordova 1 1
Total 351 301
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ENROLLMENT & ELIGIBILITY Current Premera Medical Members (metallic, grandfathered or grandmothered)
• Initial enrollment opportunity – July 1 and August 1, 2014 effective date – Accepting applications up to 07/1/14 – Paper process
• Next opportunity January 1, 2015
New Sales • Available with medical at point of sale
– Opportunity again on January 1 or July 1
Eligibility • Members age 19 and over
– Common enrollment required; available only with medical
• Cancellation policy – 12 month waiting period plus next open enrollment
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PRODUCER COMPENSATION
Dental Commission
$3.00 per member per month
Pending DOI approval
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QUESTIONS?
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SPECIAL ENROLLMENT QUALIFYING
EVENTS FOR MEDICAL
YOUR SALES & SERVICE TEAM
Sales Executive Contact Information Nancy Valdez Work: 907-677-2406 Cell: 907-306-6037 Email: [email protected]
Producer Support Contact Information Katie Dalton, Phone#: 425-918-6270 Team Lead Email: [email protected]
Producer Support Contact Information Laura Binder Phone#: 877-205-9725, Option 3 Lucy French Email: [email protected] Nicole Goodspeed
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