METLIFE AND NATIONWIDE BETTER HEALTH(SM) SIGN A LETTER OF INTENT TO ENTER INTO AN AGREEMENT TO PROVIDE EMPLOYERS WITH ENHANCED ABSENCE MANAGEMENT SOLUTION
NEW YORK, April 12, 2007
Metropolitan Life Insurance Company (MetLife) and Nationwide Better HealthSM today announced that they have signed a letter of intent to enter into a marketing and services agreement that would result in employers having access to an enhanced, integrated absence management solution for administering and reporting on employee absences.
For group disability customers, this new arrangement augments the absence management services MetLife has long provided for multiple workplace benefits including long-term disability, short-term disability as well as Family and Medical Leave Act (FMLA) administration. Employers would now also be able to track planned and unplanned absences due to other causes as well, such as company-sponsored leaves, jury duty, military leaves and/or personal and vacation days – all through one point of administration and one contract with MetLife. This total absence management solution will provide real-time information, tracking and reporting.
"MetLife is excited to be working with Nationwide Better Health in leveraging the capabilities of our two companies. This solution will help ease the administrative burden that many employers face today in tracking these absences on their own and help present them with a clearer picture of their total absence situation and costs. This new relationship underscores our commitment to working with employers in a consultative way to drive improved productivity and lower overall costs," said Michael Fradkin, vice president, MetLife Disability.
"Our new partnership with MetLife allows us to reach more customers with integrated absence and disability management solutions," said Bill Evans, president of Productivity Solutions for Nationwide Better Health. "By working together, we'll be able to provide employers with better solutions when it comes to effectively managing and utilizing their absence information and their employees with health, medical and disease management services as they work to restore their health and return to work."
The new integrated absence management solution will:
- Deliver one, integrated short-term disability claims and absence management approach that can help companies better manage employee absences and assist employees who are able to return to work as soon as medically appropriate;
- Allow employers to identify employee absence patterns with real-time information and customized reports;
- Identify employees in need of assistance for medical and disease management; and
- Provide centralized intake and administration − especially important for large and geographically dispersed employers.
MetLife has been the number one group disability insurer based on new sales premiums and equivalents since 2004 (LIMRA 2004, 2005 US Group Disability Sales and Inforce Survey, LIMRA International). MetLife’s group disability income insurance programs provide comprehensive coverage and flexible solutions that are valuable to both employees and employers. MetLife is celebrating fifty years as one of the leaders in the group disability insurance business.
MetLife is a subsidiary of MetLife, Inc. (NYSE: MET), a leading provider of insurance and financial services with operations throughout the United States and the Latin America, Europe and Asia Pacific regions. Through its domestic and international subsidiaries and affiliates, MetLife, Inc., reaches more than 70 million customers around the world and MetLife is the largest life insurer in the United States (based on life insurance in-force). The MetLife companies offer life insurance, annuities, auto and home insurance, retail banking and other financial services to individuals, as well as group insurance, reinsurance and retirement & savings products and services to corporations and other institutions. For more information, please visit www.metlife.com.
About Nationwide Better Health
Nationwide Better HealthSM, a subsidiary of Nationwide Mutual Insurance Company, is a leading provider of total population health management solutions aimed at lowering health care costs, increasing productivity and improving quality of life for Fortune 1000 employers and their employees. Nationwide Better Health is the first company to truly integrate the best collection of health and productivity services available today, including health and wellness, and disease, disability, absence, medical and maternity management, along with the industry’s first integrated disease and disability management offering. The company’s offerings work together and independently to address both sides of the cost equation: increased efficiency of health and productivity programs and better employee health and well-being to reduce health care-related costs. For more information, call 866-404-6924 or visit www.nwbetterhealth.com.
Nationwide Mutual Insurance Company, based in Columbus, Ohio, is one of the largest diversified insurance and financial services organizations in the world, with more than $158 billion in assets. Nationwide ranks #98 on the Fortune 100 list. The company provides a full range of insurance and financial services, including auto, motorcycle, boat, homeowners, life, commercial insurance, administrative services, health management services, annuities, mortgages, mutual funds, pensions and long-term savings plans. For more information, visit www.nationwide.com.