The Employee Benefits Group of the U.S. business group of Sun Life Financial Inc. (NYSE: SLF, TSX: SLF) today announced that Sun Life’s Group Dental plans now provide access to the United Concordia® Alliance network. Available to customers as of March 1, 2013, the arrangement provides 27%
more dental provider access points to Sun Life dental customers than the Advantage
Network, which the new arrangement replaces.
Sun Life Dental offers dental PPO plans in all states, with coverage for employees and dependents. Employers can customize many plan features, including deductibles, benefit waiting periods, coinsurance levels, and plan maximums. Optional benefits include built-in routine care, orthodontia for children and adults, and an annual maximum rollover benefit. Fully-insured plans can be structured as 100% employer-paid, 100% employee-paid (“voluntary”), or as a shared-funding model (“contributory”). Administrative Services are available to employer groups who prefer to self-fund their dental plans. Two plans can be offered for a Dual Select, or “high-low” plan design, providing employees greater choice.
In July 2011, Sun Life entered an agreement with United Concordia that provided access to the Advantage
dental PPO network. Sun Life Dental plans will now be sold with United Concordia’s Alliance PPO network, which boasts 96,000 providers at over 246,000 access points across the country.
“Sun Life is a leader in disability insurance and is committed to the full array of employee benefits. We’ve provided group dental plans in the U.S. for over 20 years. We’ve thoughtfully and deliberately worked to grow our dental block with smart product development,” said Michael E. Shunney, Senior Vice President Distribution, Sun Life Financial U.S. “Our partnership with United Concordia is helping us take our dental offerings to the next level. The continued growth of their PPO network is a great win for us and for our customers.”