June 13, 2002
Council announces that top dental insurer will provide employee coverage to its members
One of the nation's oldest and most respected insurers has been selected to offer dental insurance benefits to Business Council members.
Effective July 1, First Ameritas Life Insurance Corp. of New York will underwrite dental insurance for employers that buy dental insurance through the Business Council Insurance Fund.
First Ameritas is one of the oldest, highest-rated, and most respected providers of dental insurance. This new relationship will give Council members and their employers unsurpassed access to flexible insurance plans, competitive prices, and great service.
Dental insurance is a powerful benefit of Business Council membership that more members should consider taking advantage of. We hope the addition of this outstanding partner to our insurance program will prompt many more companies to consider using The Council as their source of employee dental coverage.
First Ameritas is a wholly owned subsidiary of Ameritas Life Insurance Corp., which is rated A+ by A.M. Best and AA by Standard & Poor's, the two largest rating agencies for insurance companies.
Ameritas is ranked among the top six dental-benefit carriers evaluated in Employee Benefit Plan Review. And a recent independent survey showed that Ameritas outperforms its competition in quality, value, claims processing, and customer service.
Ameritas provides dental coverage for more than 2 million people and group coverage for more than 20,000 employer groups nationwide, with annualized premiums and equivalents of nearly $400 million.
With more than 30 years experience in group dental insurance, the company processes more than 2.5 million claims a year. Its average claims-processing turnaround is five to 10 working days, better than the industry average, the company said.
The new provider should help The Business Council Insurance Fund sustain impressive recent growth in its dental insurance program.
The Fund now insures nearly 18,000 employees of Business Council member companies, he noted. The Fund's dental insurance program represents some $10 million in annual premiums.
The Business Council Insurance Fund's sales of dental insurance have doubled in the last four years. Any Council member with five or more employees can buy this dental insurance, said Mark Navin, director of sales for the Fund.
The change will be largely transparent to employees of participating companies, he noted. Enrollment changes, billing, and customer service will continue to be handled through the service team at The Business Council Insurance Fund.