Aflac—which stands for American Family
Life Assurance Company—is one of the largest providers of supplemental insurance in the
United States. It sells supplemental insurance
on both the individual and group platform.
Aflac offers individual products that cover
various issues related to accidents and serious
medical conditions, as well as programs that
focus on replacing lost income. Aflac agents
are also equipped to sell some of the most
requested benefits such as vision, dental, and
life insurance. Employees can purchase most
of these products directly from an independent agent licensed to sell Aflac products.
“Today, there are more than 1,000 companies
across Alaska that allow agents to offer Aflac
products on site to bolster their benefit offering for their valued employees,” says Joe Price,
an Aflac marketing director who is based in
Renton, Washington, and handles Alaska.
Aflac agents can also offer group products for larger businesses and broker clients
focused on the same types of medical issues
covered by its individual products. According to Price, there are dozens of independent
agents who are licensed to sell Aflac products
and can work with businesses in Alaska—
whether they’re in Utqiaġvik or Dutch Harbor. “We can help business owners navigate
the complexity of healthcare reform and act
as a trusted advisor,” Price says.
In Alaska, some of the most popular Aflac
supplemental insurance policies are those
that cover accidents, cancer, disability, and
some hospitalization plans that integrate
with their major medical plans. The difference between Aflac products and other insurance is that they pay benefits directly to
policyholders. Those policyholders are free to
spend their benefits on whatever they choose,
whether it’s on rent or groceries. “Our products provide a safety net for policyholders in
the event of an illness or accident that might
cause them to lose part of their income for a
period of time,” he says.
State Farm offers a variety of supplemental
policies to individuals as well as employer-pro-
vided benefits. Some of its most utilized plans
are hospital income policies, disability income
insurance (short-term and long-term), and life
insurance (group and individual). Disability
insurance is one of the most requested options
among State Farm clients in Alaska, according
to agent Stacey Allen. “Supplemental insur-
ance such as disability income policies can be
utilized for many businesses but are especially
beneficial for local Alaska companies that are
looking to work with a local agent who can
provide personalized service based on their
company’s needs,” she says.
Group life insurance, Allen says, is one of the
most valuable and affordable options employ-
ers can provide to their employees. Group life
allows employees to secure life insurance cov-
erage at a low group rate and premiums that
are competitively priced. With this option, em-
ployers would work directly with the insurance
company to facilitate an annual renewable term
life insurance policy.
As a medical practice, Advanced Physical Therapy is not only dedicated to im- proving patient health but is also committed to caring for its eighty-five employees.
Advanced Physical Therapy has a full medical
plan for all of its eligible employees—those who
have been with the company for at least sixty
days and work a minimum of thirty hours a
week. The company, which has five locations in
Alaska, also offers dental and vision insurance
as part of the group plan it carries through Premera Blue Cross Blue Shield of Alaska.
Advanced Physical Therapy strives to offer
a generous benefits package. “For medical and
dental, we pay 85 percent of the premium for
employees and for any dependents they have
on their plan,” says Practice Administrator
Divida Pastorino. “For vision, we pay 100 per-
cent of the coverage for our employees. The
employees have to pay for their family’s vision
plan, which is a minimal fee. The maximum
for a family vision plan is $22 per month.”
Advanced Physical Therapy also provides
$50,000 worth of life insurance, short-term
disability, and long-term disability coverage.
It pays 100 percent of the cost for employees,
who may purchase additional life and dis-
ability insurance for their dependents. The
company gives workers a health reimburse-
ment account (HRA) card preloaded with
$2,500 that they can use for prescriptions,
medical copays, acupuncture, massages, and
other qualified expenses.
The HRA card, which works similar to a
prepaid Visa debit card, is issued to all employees who work thirty hours a week or
more—even if they are not on the company’s
insurance plan. Offering this perk, along with
the other supplemental insurance benefits, are
all part of the company’s culture. “It’s important that we make sure our staff is taken care
of, and offering good medical insurance and
other benefits helps with that,” Pastorino says.
Insurance Types and Providers
Companies like Advanced Physical Therapy
are capitalizing on supplemental insurance
to help their employees protect their health
and financial wellbeing. These products—
sometimes referred to as ancillary or voluntary insurance—are often provided as part of
employers’ regular health coverage. They are
available from a variety of sources throughout Alaska, including Aflac Inc., State Farm,
Premera, New York Life, and Colonial Life &
Accident Insurance Company.
“If you don’t take care of your employees by
providing these type of benefits, they won’t be
here to do the work you need them to do.
With insurance employees are here, and
Human Resources and Safety Manager
Alsco Linen and Uniform Rental Services