Ameritas Offers New Choices for Group Vision Coverage.

Business Editors

LINCOLN, Neb.--(BUSINESS WIRE)--Sept. 25, 2000

Today, Ameritas Life Insurance Corp.'s Group Division unveiled its new and enhanced vision insurance products.

The company's new versions of Ameritas Vision Perfect(R) (its line of indemnity plans) and Ameritas Focus(R) (two-tier plans with a PPO option) offer more choices for both employers and employees. Competitive new plan features include higher schedules of allowances, liberalized underwriting and participation requirements, a materials-only plan designed to benefit employees who have vision exam coverage through their medical carrier, and a materials-optional plan that covers exams and allows insureds to purchase additional frames and lens coverage.

Ameritas vision products can be purchased alone or in conjunction with dental. While the Ameritas Group Division has offered vision coverage for a number of years, dental has been its primary focus since the early 1970s. The company provides dental coverage for more than two million Americans, and issues and administers coverage for 23,000 employer groups across the country. Ameritas' new vision products are part of a plan to devote more attention to a largely untapped market.

"Today, an estimated 35 to 40 percent of employers offer vision benefits to employees," said Ameritas Vice President - Group Field Sales Todd Reimers, CLU, "yet, according to the Department of Health and Human Services, 65 percent of people in the work force over age 17 wear some form of corrective lenses. This statistic indicates that many dollars change hands each year for vision services and materials."

The vision benefits industry has experienced steady (5 percent) growth over the last 10 years, which may be attributable to the aging of the work force, growing computer use, health professionals encouraging regular vision exams, and successful advances in vision care such as laser surgery (for which most Ameritas Focus plans offer discounts). Not only is vision health a high priority for today's workers, the low cost of vision coverage is attractive to employers seeking economical ways to enhance employee benefits packages in a tight labor market.

"There is a growing demand for vision benefits from both employers and employees," said Ameritas President - Group Division David Moore, LLIF, "and that demand represents needs which Ameritas is well equipped to meet. Vision's characteristics are very similar to dental-- it's a high frequency, low-severity product where anti-selection is the largest risk. Ameritas' group dental track record proves our expertise in managing this type of product. Now, we're taking the strengths responsible for our dental success and applying them to the vision market."