Voluntary Dental Products

Cost: $3,000; published 2017

Voluntary dental product sales have increased significantly in the last few years, in part because of traditional group carriers entering the voluntary market. As with any voluntary product, flexibility and choice are key factors—and dental is no exception. This encompasses both benefit features as well as the overall product structure (i.e., types of dental networks, discount plans, etc.). Add to that the current volatility of ACA to the equation, and voluntary dental can quickly become a complex product offering.

Eastbridge’s 2017 Voluntary Dental Products Spotlight™ Report provides data on today’s voluntary dental market and the guidelines surrounding this evolving and popular product. The report also takes a detailed look at the voluntary dental products of 15 carriers, including:

  • Sales results and competition
  • Product specifics (structure, benefit design, networks, benefit levels/coverage amounts, deductibles, plan options, etc.)
  • Underwriting guidelines
  • Enrollment practices
  • Costs/Commissions
  • Future trends

With this information, carriers can better ensure the competitiveness of their voluntary dental product.

View Table of Contents

1. Executive Summary

A. Report Objectives

B. Methodology

C. Key Findings

2. Market Overview

A. The Overall Voluntary Dental Market

B. Employer Perspective

C. Employee Perspective

D. Key Competitors

3. Product Details by Carrier

A. Product Structure and Specifics

1. Definition of Voluntary for Dental

2. Product Structure

3. Dental Network Offered

4. PPO Plan Offered

5. Standard Product Design

6. Benefit Levels/Coverage Amounts for Most Common Plan

7. Basis of Benefits

8. Adult Orthodontia

9. Implants

10. Oral Cancer Screening

11. Extra Cleanings for High Risk Individuals

12. Whitening Treatments

13. Other Cosmetic Procedures

14. Posterior Composite Filling

15. Occlusal Night Guards

16. Adult Fluoride

17. Pediatric Essential Health Benefit

18. Incentives for Preventive Care

19. Other Optional or Included Benefits

B. Maximum Benefit Levels

1. Maximums for each Category

2. Different Orthodontia Maximum Allowed

3. Takeovers after January 1st

4. Annual Maximum Rollover Provision

C. Coinsurance, Deductibles & Waiting Periods

1. Coinsurance and Annual Deductible Options

2. Lifetime Maximum Deductibles

3. Waiting Period Options

4. Waiting Period Options (Late Entrants)

D. Employee and Employer Options

1. Employee Choice vs. Employer Decisions

2. Continuity of Coverage

3. Multiple Plan Designs Allowed

4. Core/Buy-up Options

5. Dual Option Voluntary Plans

6. Low-Cost Plan Options

7. Private Exchange Plan Options

E. Underwriting and Enrollment

1. Account-Level Underwriting

2. Minimum Group Size for Private Exchanges vs. Traditional Groups

3. Plan Selection Guidelines/Criteria

4. Employee-Level Underwriting

5. Participation Requirements by Plan Design

6. Annual Open Enrollment

7. Renewal Underwriting

8. Re-enrollment Options

F. Costs and Commissions

1. Structure of Premiums

2. Number of Rate Zones

3. Rate Guarantees

4. Employer-Paid vs. Voluntary Premiums

5. Standard Commissions

6. Commission Variances

4. Competition, Results and Future Trends

A. Competition and 2016 Results

1. Product Differentiators

2. Voluntary Dental Sales for 2016

3. Percentage of Dental Sales that Are Voluntary

4. Product Profitability

5. Length of Time in Market

6. Average Participation Percentage

7. Takeovers vs Virgin Cases

8. Average Group Size

B. Challenges & Future Trends

1. Product Challenges

2. Employee Choice Trends/Options

3. Product Trends in Next Five Years

 


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