Post on 15-Dec-2015
But only 4 out of 10 major firms offer their employees a Vision Care plan (source: Hewitt and Associates study of 1,000 major U.S. employers).
In addition, vision problems are increasing
• VDT (video display terminal) related problems on the rise
• “Graying” of America
– 76 million baby boomers in the U.S.
– The oldest are age 50+
“Self-insuring” can be expensive
Cost of an annual eye exam: $45-90
Cost of eyeglasses $45-300
TOTAL ANNUAL COST $90-390
Adults
• Incidence of presbyopia (“farsightedness”) spikes between ages 38 and 48
• 90 million adults use computers –Most suffer from VDT
disorders
– 1 million new sufferers every year
Children
• Vision problems can affect the learning process
• School screenings may not be enough
• Problems can be detected as early as 6 months
(Source: American Optometric Association)
Freedom of choice
Gatekeepers?Panel providers?Choose any visioncare provider?Self-referrals to specialists?Change providersat any time?
Yes No
Key points
Eligibility
Deductible
Benefits allowances for the following covered services
– Examination by an Optometrist or Ophthalmologist
– Lenses (single, bifocal, trifocal)– Frames– Contact lenses (cosmetic and
non-cosmetic)
Please refer to your Summary of Benefits for further details!
The value of group coverage
Key advantages over individually purchased insurance
– Lower rates
– Simplified acceptance
– Convenience of payroll deduction
Service, service, service
• Dedicated Customer Service unit
• 90% of claims handled in less than 10 working days
• Call average waiting time is 30 seconds or less
• Claims financial accuracy exceeds 99%
About...
• Solid protection from an outstanding insurer
• Over 50 years group insurance expertise
• Highly rated
Ratings
A.M. Best A++ (Superior)
Duff & Phelps AA+ (Very high)
Moody’s Aa3 (Excellent)
Standard & Poor’s AA+ (Very strong)
Ratings do not apply to Pacific Life & Annuity Company’s separate accounts
Please read your materials carefully
This has been a brief overview of group coverage underwritten by Pacific Life & Annuity Company. It does not contain all of the policy definitions, limitations and exclusions.
For additional information please refer to your Summary of Benefits.
THANK YOU.