METLIFE ROLLS OUT NEW DENTAL PROGRAM TO MEET THE NEEDS OF MORE OF TODAY’S EMPLOYERS AND WORKFORCE
MetLife TakeAlong DentalSM created to make dental insurance available to more employees
NEW YORK, NY, May 23, 2016
MetLife announced today the launch of MetLife TakeAlong DentalSM, a new program specifically designed as a complement to employers’ traditional MetLife group dental benefits. MetLife TakeAlong Dental allows employers to provide dental coverage to employees who are not eligible to participate in a traditional employer-sponsored dental plan – including part-time or consultant workers, and retirees.
MetLife TakeAlong Dental provides robust coverage with the same network of pre-screened providers, online access and quality claims handling that are available to all of MetLife’s Group Dental benefits customers, and MetLife supports the end to end administration from enrollment, to employee/retiree billing, to ongoing service.
As employers continually strive to attract and retain the best talent, dental insurance is a key benefit. According to the 14th Annual MetLife U.S. Employee Benefit Trends Study (highlights available here), 80% of employees indicate dental benefits are important when deciding whether to accept a job. And, compared to those who don’t have dental insurance benefits, employees who have dental benefits are significantly more likely to indicate they will stay at their employer – 82% versus 70% – and that they are satisfied with their benefits – 88% versus 42% – so the implications for employee loyalty are significant. Yet, many workers do not have access to any sort of dental program, and many employers have not been able to fill this gap.
Multiple trends in the American workforce in recent years have caused fewer workers to have access to traditional dental coverage at work. These include the presence of more part-time employees, by choice or due to under-employment, as well as the challenges employers face dealing with increased health-care costs and regulatory requirements. “Given the many options outside the traditional workforce now available to employees, employers can use Dental as a differentiator: according to the most recent MetLife U.S. Employee Benefit Trends Study, employees consider dental insurance a ‘must have’ benefit, along with health insurance, prescription drug coverage, and a retirement plan,” said Alan Hirschberg, vice president of Supplemental Health Products at MetLife.
Sixty-three percent of employees in MetLife’s Study say that dental is a must-have benefit for retirees, yet only 42% of employers offer it – in fact, over half of employees say that their employers do not offer any nonmedical benefits to retirees. Yet, retiree benefits are a driver of employee loyalty, with four in ten employees saying that retiree benefits are a key reason to stay with their employer. This is particularly true among Millennials.
Added Hirschberg, “At MetLife, helping employers find the right mix of solutions to better balance costs and employee needs is what we do. MetLife TakeAlong Dental allows employers to be confident that they have made the best decision for their business: having the ability to complement their traditional group dental plans without additional benefit costs to them, while providing their employees with quality dental insurance. We like to say it is, ‘the last dental program they will ever need.’”
MetLife TakeAlong DentalSM has been approved by regulators in most states. To determine if TakeAlong Dental is available in a given ZIP code, visit metlifetakealongdental.com. Brokers and consultants can find more information about TakeAlong Dental at www.metlife.com/brokers, and employers at www.metlife.com/employers.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.