MetLife, Inc. · NYSE:MET
MetLife — Investor Presentation (April 2023)
34 slides from MetLife's investor presentation, April 2023
Slide 1: New Hampshire Paid Family & Medical Leave: Coordination of claims
New Hampshire Paid Family & Medical Leave: Coordination of claims Presented by Gina Rutledge and Sondra Acee April 2023 The information contained in this presentation is not legal or tax advice and should not be relied upon or construed as legal or tax advice. This presentation is for general inform
Slide 2: Today's agenda
Today’s agenda 01 Introductions 02 NH PFML Responsibilities 03 Eligibility 04 Plan Information 05 Administrators Can Help Employers 06 Filing a Claim 07 Tools & Resources 08 Wrap-Up and Q&A Metropolitan Life Insurance Company, New York, NY L0423030961[exp1223][All States] © 2023 MetLife Services and
Slide 3: What is NH PFML?
What is NH PFML? Metropolitan Life Insurance Company, New York, NY L0423030961[exp1223][All States] © 2023 MetLife Services and Solutions, LLC 3
Slide 4: What is NH PFML?
What is NH PFML? First of its Kind Pure Insurance Choices Solution Metropolitan Life Insurance Company, New York, NY L0423030961[exp1223][All States] © 2023 MetLife Services and Solutions, LLC 4
Slide 5: NH PFML Coverage Options
NH PFML Coverage Options Voluntary Coverage – first of its kind Employer Individual Sponsored Coverage Metropolitan Life Insurance Company, New York, NY L0423030961[exp1223][All States] © 2023 MetLife Services and Solutions, LLC 5
Slide 6: Employer Responsibilities
Employer Responsibilities Individual Pool 1 During Enrollment, confirm NH Eligible Employers with 50+ NH workers must payroll 2 deduct premiums and send to MetLife Check, EFT or ACH available 3 Participate in Claim Process Coordinate employer paid benefits Protect against anti-retaliation, Continue
Slide 7: NH PFML Equivalent Plans
NH PFML Equivalent Plans If an Employer has (one or combination of benefits) equal or better benefits then their employees are covered, and NH PFML insurance is not needed. You may not have an equivalent plan Employer equivalent NH PFML plan must include: • Intermittent leaves • Caregiver leave • Mi
Slide 8: Who is eligible for NH PFML?
Who is eligible for NH PFML? Metropolitan Life Insurance Company, New York, NY L0423030961[exp1223][All States] © 2023 MetLife Services and Solutions, LLC 8
Slide 9: Eligibility
Eligibility Eligible Workers • Employer has a physical location in the state • W2 worker in NH Employers must have a physical • Business Owners (income treated like a W2 worker) location in New Hampshire • Remote worker of NH employer • Not covered by another state mandated plan • For individual poo
Slide 10: Test your knowledge
Test your knowledge Meet Andy Andy is a full-time graphic artist who works out of his home office for an Advertising firm that has offices in MA, VT, and NH • He reports to the MA office, but none of his work is done in MA, therefore, he is not covered under MA PFML. • Employer pays NH Unemployment,
Slide 11: What is the NH PFML Plan Design
What is the NH PFML Plan Design Metropolitan Life Insurance Company, New York, NY L0423030961[exp1223][All States] © 2023 MetLife Services and Solutions, LLC 11
Slide 12: What is New Hampshire's PFML plan?
What is New Hampshire’s PFML plan? An optional insurance plan that provides wage replacement for employees and individuals who cannot go to work because of a qualifying common life event Paid Medical Leave Paid Family Leave Own Serious Health Child Bonding Family Caregiver Military Exigency Military
Slide 13: Who are approved family members?
Who are approved family members? NH PFML FMLA Child Yes Yes Spouse Yes Yes Domestic Partner Yes No Parent/In-Laws Yes Yes-Parent/No In-Laws Grandparent Yes No Next of Kin Yes (military caregiver only) Yes Metropolitan Life Insurance Company, New York, NY L0423030961[exp1223][All States] © 2023 MetLi
Slide 14: How can an administrator help?
How can an administrator help? Metropolitan Life Insurance Company, New York, NY L0423030961[exp1223][All States] © 2023 MetLife Services and Solutions, LLC 14
Slide 15: Employer Sponsored Plans: Web Self-Service
Employer Sponsored Plans: Web Self-Service Policy Administration https://nhpfmlpolicy.metlife.com Add New Workers / remove Terminated workers Billing/remittance Access to policy and certificates Additional Support Email: [email protected] call 866-595-7365 Metropolitan Life Insurance Compan
Slide 16: Group Policy and Claim Administration
Group Policy and Claim Administration Employers can add employees and terminate employees by uploading a new census file with the changes to the policy portal, https://nhpfmlpolicy.metlife.com, or by emailing the file to [email protected]. Metropolitan Life Insurance Company, New York, NY L
Slide 17: Policy and claim administration
Policy and claim administration Employers who purchased NH PFML can designate an Alternate 1 Persona to assist with duties such as • Implementation Support for new coverage set up • Payroll deductions/premium remittance • Employment Verifications supporting claims • Access to employer level claim an
Slide 18: Claims: Web Self-Service
Claims: Web Self-Service https://alera.my.site.com/eep Claim Administration Leave dates Status Benefit Payments Metropolitan Life Insurance Company, New York, NY L0423030961[exp1223][All States] © 2023 MetLife Services and Solutions, LLC 18
Slide 19: Paying Premiums
Paying Premiums Employers can fund on behalf of their employee, split funding, or pass 100% of the cost to their workers. Payments • Payroll deductions mandated if 50+ NH workers • Paid quarterly – can be more frequent • Remittance bill has banking information • ACH, EFT or paper check acceptable Me
Slide 20: Rate Letter – Individual Pool
Rate Letter – Individual Pool • Percent per $100 covered payroll • Flat amount • Total annual amount Metropolitan Life Insurance Company, New York, NY L0423030961[exp1223][All States] © 2023 MetLife Services and Solutions, LLC 20
Slide 21: How do workers file a claim?
How do workers file a claim? Metropolitan Life Insurance Company, New York, NY L0423030961[exp1223][All States] © 2023 MetLife Services and Solutions, LLC 21
Slide 22: Leave Request Process
Leave Request Process How do workers file for benefits? 1 Apply for benefits 2 Submit supporting documentation 3 Stay connected until return to work • Workers contact MetLife within • Proof may be required before the • Employer and MetLife will need 30 days prior or within 20 days claim decision can
Slide 23: How do workers coordinate benefits?
How do workers coordinate benefits? Metropolitan Life Insurance Company, New York, NY L0423030961[exp1223][All States] © 2023 MetLife Services and Solutions, LLC 23
Slide 24: Coordination of Benefits: General Rules
Coordination of Benefits: General Rules • • Yes No Can coordinate Either NH PFML /or • FMLA • Insured Disability • Employer sponsored plans with other employer • Workers Comp sponsored benefits • Unemployment • NH PFML Individual coverage with similar employer benefits Metropolitan Life Insurance Co
Slide 25: Individual Pool Coordinating with Employer Benefits
Individual Pool Coordinating with Employer Benefits When the same leave reason can qualify for employer benefits and individual NH PFML coverage First After Employer Benefits NH PFML Benefits • STD • Employee’s own serious health condition • Salary Continuation • Child bonding • Paid Parental Leave
Slide 26: Employer Sponsored Plans
Employer Sponsored Plans Benefits can overlap • Rose had terrible morning sickness; Doctor approved intermittent leave during her first trimester. NH PFML EP used and PTO • Doctor recommended bed rest 2 weeks prior to delivery – STD Starts • Bonding starts after childbirth benefits Child born July A
Slide 27: Test your knowledge
Test your knowledge Andy wants to know how benefits will work together Andy’s employer did not sponsor a NH PFML Plan, so he purchased coverage as an individual. He needs time off to bond with his newly adopted son. Andy’s employer has a salary continuation parental leave for 4 weeks available for a
Slide 28: Tools & Resources
Tools & Resources Metropolitan Life Insurance Company, New York, NY L0423030961[exp1223][All States] © 2023 MetLife Services and Solutions, LLC 28
Slide 29: Tools & Resources
Tools & Resources PaidFamilyMedicalLeave.nh.gov Poster How to File a Claim Flier Employer Toolkit Worker Toolkits www.metlife.com/pfml Employer FAQ Worker FAQ Statutory Benefit Guide Metropolitan Life Insurance Company, New York, NY L0423030961[exp1223][All States] © 2023 MetLife Services and Soluti
Slide 30: Tools & Resources: Employer Sponsored Plans
Tools & Resources: Employer Sponsored Plans Web Self-Service https://nhpfmlpolicy.metlife.com https://alera.my.site.com/eep Policy Administration Claim Administration Add New Workers / remove Terminated workers See active claims Billing/remittance Verify benefit payments Access to policy and certifi
Slide 31: Wrap-up
Wrap-up Metropolitan Life Insurance Company, New York, NY L0423030961[exp1223][All States] © 2023 MetLife Services and Solutions, LLC 31
Slide 32: In Summary
In Summary 01 NH PFML began January 1, 2023 02 NH PFML Responsibilities 03 Eligibility 04 Plan Information 05 Administrators Can Help Employers 06 Filing a Claim 07 Tools & Resources 08 Wrap-Up and Q&A Metropolitan Life Insurance Company, New York, NY L0423030961[exp1223][All States] © 2023 MetLife
Slide 33: Appendix
Appendix Metropolitan Life Insurance Company, New York, NY L0423030961[exp1223][All States] © 2023 MetLife Services and Solutions, LLC 33
Slide 34: Approved NH PFML family members definitions
Approved NH PFML family members definitions Biological, adopted, or foster child, a stepchild, a legal ward, or a child of a person standing in loco parentis, who is: under 18 Child years of age; or 18 years of age or older and incapable of self-care because of a mental or physical disability. Your