METLIFE ANNOUNCES NEW COINSURANCE OPTION FOR ITS MET SERIES OF DENTAL HEALTH MAINTENANCE ORGANIZATION (DHMO) PLANS
NEW YORK – May 18, 2011 – MetLife, a provider of dental plan administration for nearly 20 million people, today announced a new Coinsurance Option as part of its Dental Health Maintenance Organization (DHMO) MET Series offerings. Available through SafeGuard Health Plans, Inc., a MetLife company, the new feature is currently available in California and Texas and is pending regulatory approval in Florida. Both the coinsurance and current copay options are available to all employers with two or more employees.
The coinsurance feature expresses patients’ financial responsibility as a percentage of the total cost for the service. For example, some oral health care treatments, typically preventive services, might be covered under the contract at 100% with no out-of-pocket costs for the policyholder. Other services, such as filling for a cavity, might be covered at 100% to 60% depending upon the plan designs the employer chooses to offer or the employee selects. The coinsurance feature helps employers position the DHMO benefit in terms that may be more familiar to employees. Employees may more easily compare features of multiple plans since “coinsurance” is a term typically associated with Dental Preferred Provider Organizations (DPPOs).
“A DHMO can be an attractive solution for both employers and employees because of the lower benefits costs. The new coinsurance option provides an easy way for employers to introduce the concept of a DHMO to employees who may have participated in other types of plans including DPPOs and even medical plans. It provides a familiar method for comparing among plan choices and helps employees easily understand their financial obligation, if any, when they visit the dentist,” says Alan Hirschberg, vice president, MetLife Dental.
In addition to the new coinsurance feature, the MET Series of DHMO plans provide coverage for more than 400 covered dental services, including implants, and access to a growing network of participating providers with more than 15,000 participating dentist locations serving the California, Florida and Texas markets. The plans also provide standard features such as no claim forms, no deductibles, no calendar year maximums and an easy-to-understand schedule of benefits. The plans are available as a stand-alone DHMO or as a dual-option combination with the MetLife DPPO. For more information about the MET Series of DHMO plans, visit www.metlife.com/dental.
MetLife is a subsidiary of MetLife, Inc. (NYSE: MET), a leading global provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 60 countries. Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia Pacific, Europe and the Middle East. For more information, visit www.metlife.com.