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Sun Life Financial Announces SunElite,SM A New Stop-Loss Value-Added Service

Stocks in this article: SLF

The Employee Benefits Group division of the U.S. Business Group of Sun Life Financial Inc. (NYSE: SLF, TSX: SLF) announced today SunElite, a new addition to its suite of value-added services for its self-insured Stop-Loss customers. SunElite is a medical plan document review service.

Sun Life Financial selected an experienced health care services consultant, The Phia Group, LLC, to conduct all SunElite medical plan document reviews. The Phia Group, LLC will author a report detailing its analysis of the medical plan’s cost containment, federal law compliance, and discretionary authority language.

Sun Life Stop-Loss customers can use the service directly, but Sun Life Financial expects brokers and TPAs to be the most frequent users of the service. Brokers and TPAs can use the report to evaluate the medical plan document and discuss potential changes with the customer.

According to Adam V. Russo, Esquire, Chief Executive Officer, The Phia Group, LLC, “We are extremely proud to have been chosen by Sun Life Financial to review and assess their clients’ medical plan documents. We will provide expertise relating not only to compliance issues, but also to cost containment opportunities that will benefit all customers.”

“This agreement is a timely addition to our suite of Stop-Loss value-added services. Employers are seeking support to comply with Affordable Care Act requirements and want new ways to manage medical costs. SunElite helps address those needs. Sun Life Financial is proud to continue the tradition of providing insight and cost savings to customers,” said Scott Beliveau, Stop-Loss Vice President, Sun Life Financial Employee Benefits Group division.

Sun Life Financial, one of the largest direct writers of stop-loss insurance in the United States, has a 30-year history of dedication to providing innovative value-added services. In addition to SunElite, Sun Life Stop-Loss customers already receive SunResources, ® SunExcel, ® and Sightlines™ Medical Intelligence.

About The Phia Group, LLC

The Phia Group, LLC, headquartered in Braintree, Massachusetts, is an experienced provider of health care consulting services including medical plan document assessments, health care cost-containment techniques, comprehensive claims recovery, and consulting designed to control health care costs and protect medical plan assets. The Phia Group’s overall mission is to reduce the cost of medical plans through its recovery strategies, innovative technologies, legal expertise, and focused, flexible customer service.

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