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Traditional plans have an annual renewal cycle and often require employersto estimate their future healthcare expenses. This annual cycle has provendifficult for some employers at a time when health care premiums havesignificantly outpaced inflation.
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Guardian Premium Protect(SM), a new offering for groups with 51-150employees was designed to mitigate this problem by eliminating the guessworkrelated to second year medical benefit renewals.
The program will be available in New Jersey, Maryland, Washington DC,Virginia and the Chicago and New York metro areas, for plans sold witheffective dates beginning October 1.
"Guardian Premium Protect(SM) takes the guesswork out of health carebudgeting," said Tim Bireley, Vice President, Group Medical, Guardian. "Bylocking in their second-year rates when they sign up, and incorporatingadditional member cost sharing, Guardian is providing employers with a path toa manageable, predictable healthcare budget. Employers enrolled in ourprogram can save money and time on the budgeting process. Producers can helprelieve their client's anxieties about unpredictable and out-of-control healthplan renewal rates by offering the rate at the point of sale."
Guardian Premium Protect is a two-year medical PPO program with aprescription drug benefit, vision discount access*, wellness resources andhigh and low cost-sharing plans.
Added Bireley, "Medical is an important part of Guardian's overallportfolio of group benefit solutions and Guardian Premium Protect is just oneway that we strive to meet employers' unique needs."
Guardian is celebrating the 50th anniversary of providing employeebenefits to small and mid-size businesses. Specializing in this market,Guardian serves more than 120,000 employers, and 6 million employees and theirfamilies. In honor of this milestone the company has issued a series ofeducational surveys and reports to help employees, employers and benefitdecision makers better understand how they can jumpstart their financiallives, improve recruitment, retention and employee satisfaction by maximizingthe use and power of their workplace coverage. Three reports currentlyavailable in the series include:
About Guardian
Founded in 1860, The Guardian Life Insurance Company of America, New York,NY (Guardian) is one of the largest mutual life insurance companies in theUnited States. As of December 31, 2006, Guardian and its subsidiaries had$39.5 billion in assets (on a consolidated statutory basis). With more than5,000 employees and 3,000 financial representatives, as well as more than 80agencies nationwide, Guardian and its subsidiaries protect individuals,businesses, and their employees with life, disability, health, long-term care,and dental insurance products, and offer 401(k), annuities and other financialproducts and trust services. More information about Guardian can be obtainedat: http://www.guardianlife.com.* Benefits & Behavior: Spotlight on Dental, the report can be found at http://www.GuardianDental.com. * Benefits and Behavior: The Voice of American Business Owners and Benefit Decision Makers Today, the report can be found at http://www.GuardianBenefits.com. * Benefits and Behavior: Spotlight on Group Life and Disability Insurance, the report can be found at http://www.GuardianBenefits.com. *Available in most markets
SOURCE The Guardian Life Insurance Company of America
