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Unum offers clear information on health insurance exchanges

^{Published on 2010-09-30 11:10:21 - Market Wire}
 

CHATTANOOGA, Tenn.--([ BUSINESS WIRE ])--A key element of health care reform that has the potential to significantly change the benefits landscape is the topic of Unuma™s (NYSE:UNM) latest guide to reform.

"Health insurance exchanges are the subject of a lot of questions, and we think ita™s important to offer a clear explanation of how theya™re intended to work and how they have worked in places where theya™ve been tried"

aHealth insurance exchanges are the subject of a lot of questions, and we think ita™s important to offer a clear explanation of how theya™re intended to work and how they have worked in places where theya™ve been tried,a said David Brenerman, vice president of Government Affairs for Unum. aBrokers and employers play a critical role in delivering benefits to millions of working people, and providing this information is one way wea™re trying to support our business partners.a

The guide, a[ Health Insurance Exchanges: A marketplace for the future ],a™ explores how the exchanges, mandated to take effect by 2014, will aim to create a health insurance marketplace for individuals and small businesses to give them greater buying power. Though the specific rules for how exchanges will work have yet to be written, Unuma™s guide is based on the requirements known now from the Affordable Care Act.

aThe guide is not an endorsement or an indictment of exchanges, but a thoughtful and lucid explanation of the approach,a Brenerman said. aSimply helping our partners understand their potential effects is a major goal of our work.a

Jamie Mills, president of Mills Benefit Group, an employee benefits brokerage in Grand Rapids, Mich., posted the guide on her business website so employers and other clients can access it. aIt is a great piece, and wea™re glad to be able to share this information, especially at a time when there are so many questions about health care reform,a she said.

Over the last several months, Unum has produced a series of guides to health care reform intended to provide the brokers and employers the company serves with objective explanations of how these changes will affect their businesses, their families and their bottom lines.

aWea™ve consistently heard from our business partners that these guides have been valuable resources,a Brenerman said. aThough the financial protection benefits Unum provides wona™t be directly affected by health care reform, ita™s important that we offer information and guidance to help give our partners confidence that they are making informed decisions about employee benefits.a

The series has included:

• An overview of what health care reform will cost and who is expected to foot the bill: [ The Price of Reform: Funding Americaa™s health care reform package ].
• A guide that details important changes to health care coverage and the requirements reform will bring: [ Health care reform: Reshaping the U.S. health care insurance industry ].
• A guide explaining the Community Living Assistance Services and Supports (CLASS) Act: [ The CLASS Act: Shining a light on Americaa™s need for long term care ]

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.