Aflac Expands Product Offerings with New Dental and Vision Insurance

Rhea-AI Summary

Aflac, a leader in supplemental insurance, has launched Aflac Dental and Vision Insurance nationwide as part of its growth strategy. This new offering addresses essential benefits sought by businesses for attracting talent, as dental and vision insurance rank among the top requested employee benefits. The plans feature customizable options, no waiting periods for most services, and reduced deductibles over time. With over 270,000 providers in the Aflac Dental Network and 85,000 in the Vision Network, these products aim to enhance Aflac's competitive positioning in the marketplace.

Positive

• Launch of Dental and Vision Insurance expands Aflac's product offerings.
• Plans include customizable coverage with no waiting periods for most services.
• Unique benefit of decreasing deductibles over time enhances customer appeal.
• Access to extensive provider networks increases plan accessibility.

Negative

• None.

COLUMBUS, Ga., Jan. 12, 2021 /PRNewswire/ -- Aflac, a leading provider of supplemental insurance products in the U.S., today announced the national launch of Aflac Dental and Vision Insurance, the company's expansion into offering products based on a provider network. As a component of the insurer's continual growth strategy, the new coverage allows Aflac to offer even more of the key benefits businesses desire to remain competitive and help attract and retain top talent.

U.S. employees cite dental insurance as the second most important benefit to them after health insurance, with vision insurance ranking their fourth most valued benefit after life insurance, according to the Aflac 2020-2021 WorkForces Report. Dental and vision plans not only help with costs associated with preventive health measures, but routine checkups and exams can lead to the detection of numerous conditions before they require more costly treatments. 

"With this national expansion into network dental and vision, Aflac is offering employers and consumers an expanded value proposition, while providing our associates and broker partners the tools they need to bring the most comprehensive set of products to a very competitive marketplace," said Aflac President of Group Benefits Rich Williams. "Combined with the incredible power of the Aflac brand, our new dental and vision plans will greatly enhance the trusted relationship we have built with employers and policyholders for nearly 70 years and offer prospective customers even more reason to consider Aflac's entire suite of products for their supplemental insurance solutions."

The new dental and vision coverage, available for businesses with as few as three employees in many locations, features a streamlined underwriting process, more than 100 easy-to-understand and fully customizable plans, and upfront rates.

Aflac Dental Insurance helps give insureds peace of mind from knowing they have assistance with both routine and unexpected dental expenses. With access to more than 270,000 providers comprising the Aflac Dental Network, coverage includes no waiting periods (excluding orthodontic services) and no copays required for most preventative procedures. Other benefits include: 

• Deductible that decreases over time — With this new-to-market benefit, insureds see a reduced deductible each year the plan is in force, with the first year at $50 per person, the second decreasing to $25 per person, and the third and subsequent years seeing no deductible.
• Annual maximum carryover — Insureds can carry over $250 each year toward their annual maximum, up to a total of $1,000, for use with any qualifying dental expense.
• Dental accidental injury — If an insured experiences a covered dental injury, the plan pays 100%, subject to deductible and annual maximum amounts.

Aflac Vision Insurance makes it easier and more affordable for people to get regular eye exams and better preserve their vision. In partnership with Davis Vision, one of the top-five vision insurance networks in America, insureds can choose to receive care through any of the Aflac Vision Network's more than 85,000 providers comprising independent, private-practice optometrists and ophthalmologists as well as select retail in-store and online optical partners. Highlights include:

• Eyeglasses breakage warranty — Receive added peace of mind with an unconditional one-year breakage warranty for the free-of-charge repair or replacement of broken frames or lenses purchased at participating eye care professional locations.
• Laser-vision correction (LASIK) — Insureds can save up to 25% off LASIK services at participating eye care professional locations. 
• Eyewear savings — Insureds can receive frame allowances and discounts of up to 20% off additional eyewear as well as 10% off disposable contact lenses.

"Broadening the scope of our product portfolio elevates Aflac to the front page of the benefits enrollment process for employees, demonstrating our value to brokers, independent agents, and employers in 2021 and beyond," added Bob Ruff, senior vice president of Growth Solutions at Aflac. "By offering these must-have components of workplace benefits packages, Aflac can help provide policyholders even more financial protection to help in their time of need."

Aflac Dental Insurance plans are available now in Alabama; Alaska; Arizona; Arkansas; California; Connecticut; Delaware; Florida; Georgia; Hawaii; Idaho; Illinois; Indiana; Iowa; Kansas; Louisiana; Maine; Michigan; Minnesota; Mississippi; Missouri; Nebraska; Nevada; New Hampshire; North Carolina; North Dakota; Ohio; Oklahoma; Oregon; Pennsylvania; South Carolina; South Dakota; Tennessee; Texas; Utah; Vermont; West Virginia; Washington, D.C.; Wisconsin and Wyoming. 

Aflac Vision Insurance plans are available now in Alabama, Alaska, Arizona, Arkansas, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, West Virginia, Wisconsin and Wyoming. 

More locations will be added for both plans in the coming months. 

To learn more about these new plans, please visit Aflac.com/NetworkDental and Aflac.com/NetworkVision.

About Aflac Incorporated 
Aflac Incorporated (NYSE: AFL) is a Fortune 500 company, helping provide protection to more than 50 million people through its subsidiaries in Japan and the U.S., where it is a leading supplemental insurer by paying cash fast when policyholders get sick or injured. For more than six decades, insurance policies of Aflac Incorporated's subsidiaries have given policyholders the opportunity to focus on recovery, not financial stress. Aflac Life Insurance Japan is the leading provider of medical and cancer insurance in Japan, where it insures 1 in 4 households. Fortune magazine recognized Aflac as one of the 100 Best Companies to Work for in America for 20 consecutive years. For 14 consecutive years, Aflac has been recognized by Ethisphere as one of the World's Most Ethical Companies. In 2020, Fortune included Aflac Incorporated on its list of World's Most Admired Companies for the 19th time, and Bloomberg added Aflac Incorporated to its Gender-Equality Index, which tracks the financial performance of public companies committed to supporting gender equality through policy development, representation and transparency. To learn how to get help with expenses health insurance doesn't cover, get to know us at Aflac.com.

Media contact: Jon Sullivan, 706.573.7610 or jsullivan@aflac.com

Analyst and investor contact: David A. Young, 706.596.3264 or dyoung@aflac.com

In 2020, Aflac dental and vision insurance coverage is underwritten by National Guardian Life Insurance Company (NGL). National Guardian Life Insurance Company is not a member of the Aflac family of insurers. National Guardian Life Insurance Company is not affiliated with The Guardian Life Insurance Company of America a/k/a The Guardian or Guardian Life. Aflac dental and vision products may not be available in all states. National Guardian Life Insurance Company | Madison, WI. 

For all states that have approved the Aflac dental and vision insurance products, coverage will be underwritten by Aflac. In New York, coverage will be underwritten by Aflac New York. Aflac WWHQ | 1932 Wynnton Road | Columbus, GA 31999.

Please see coverage documentation applicable to your situs state for further details.

Individual Supplemental coverage is underwritten by Aflac. Group Supplemental coverage is underwritten by Continental American Insurance Company (CAIC), a wholly-owned subsidiary of Aflac Incorporated. CAIC is not licensed to solicit business in New York, Guam, Puerto Rico, or the Virgin Islands. For groups sitused in California, group coverage is underwritten by Continental American Life Insurance Company. For individual coverage in New York or coverage for groups sitused in New York, coverage is underwritten by Aflac New York. WWHQ | 1932 Wynnton Road | Columbus, GA 31999. Continental American Insurance Company | Columbia, South Carolina. Plans and availability vary by state.

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SOURCE Aflac Incorporated

FAQ

When did Aflac launch its new Dental and Vision Insurance?

Aflac launched its new Dental and Vision Insurance on January 12, 2021.

What are the main benefits of Aflac's Dental Insurance?

Aflac's Dental Insurance offers no waiting periods for most preventative procedures, decreasing deductibles over time, and the ability to carry over $250 toward the annual maximum.

How many providers are in the Aflac Dental Network?

Aflac Dental Network includes over 270,000 providers.

What type of coverage does Aflac Vision Insurance provide?

Aflac Vision Insurance provides access to more than 85,000 providers and offers benefits such as a breakage warranty and discounts on LASIK services.

In which states is Aflac Dental and Vision Insurance available?

Aflac Dental and Vision Insurance is available in multiple states including Alabama, California, Florida, and Texas, with plans for further expansion.