Business Wire
CHATTANOOGA,
Tenn.--(BUSINESS WIRE)-- A 10-year review of disability claims shows the
effects of an aging workforce, medical advances and the power of early
intervention, according to data from Unum (NYSE: UNM), a leading provider
of disability benefits. Unum tracks reasons
behind workplace absence in its disability data and shares results each May
during Disability Insurance Awareness Month.
This press release
features multimedia. View the full release here: https://www.businesswire.com/news/home/20180503006409/en/
Unum releases the
top causes and key trends in disability claims data for Disability Insurance
Awareness Month (Graphic: Business Wire)
Key findings include:
·
Short and long term disability claims for joint disorders and musculoskeletal
issues have increased significantly.
·
Cancer has stayed the No. 1 reason for long term disability
claims, representing 17 percent of claims.
·
Pregnancy continues to top the list of short term disability
claims, at 28 percent.
·
Long term disability claims for complicated pregnancies have
decreased 47 percent.
·
The percentage of Unum’s short term disability behavioral health
claims that transition to long term is down 15 percent, the result of a
dedicated behavioral health program implemented at Unum.
“As people work longer and later in life, we’re seeing the
effects of an aging workforce,” said Greg Breter, senior vice president of
Benefits at Unum. “The spike in joint disorders and musculoskeletal issues is
especially prominent among Baby Boomers, who make up over half of all long term
disability claims.”
In addition,
higher obesity rates and stress among workers can cause or
aggravate other health conditions, like heart disease and musculoskeletal
issues, Breter said.
There’s good news,
too, though. Advances in medical treatment, lower C-section rates and more
resources for new moms are leading to fewer complicated pregnancies. And,
Unum’s dedicated early intervention and preventative strategies for behavioral
health claims mean more people are able to get to back work sooner.
Unum received more
than 424,500 new disability claims in 2017 and paid $3.8 billion in disability
benefits. Here are the top causes of disability for 2017:
|
Long term
disability:
|
||||
|
Cancer
|
17%
|
|||
|
Back disorders
|
13%
|
|||
|
Injury
|
12%
|
|||
|
Cardiovascular
|
9%
|
|||
|
Joint disorders
|
9%
|
|||
|
Short term
disability:
|
||||
|
Pregnancy
|
28%
|
|||
|
Injury (excluding
back)
|
11%
|
|||
|
Joint disorders
|
8%
|
|||
|
Digestive system
|
7%
|
|||
|
Cancer
|
7%
|
|||
A lengthy and unexpected absence from
work can have serious financial consequences as well. One in four U.S. workers
has less than $1,000 in savings, and more than half of households would
struggle to recover from an unexpected $2,000 expense, according to a
2017 GoBankingRates study.
Chriseta Gaskin, a 61-year-old personal
banker, said, “The normal wear and tear of doing my job over the years took its
toll, and my knees went bone to bone.” Gaskin used Unum disability coverage to
protect her from significant income loss during absence for knee replacement
surgery, recovery, and return to work.
“My disability benefits check was
direct deposited regularly, so I always had money to pay the bills. It was nice
to not worry about expenses.”
ABOUT UNUM
Unum Group is a leading provider of
financial protection benefits in the United States and the United Kingdom. Its
primary businesses are Unum US, Colonial Life, and Unum UK. Unum’s portfolio
includes disability, life, accident and critical illness, dental and vision
coverage, which help protect millions of working people and their families in
the event of an illness or injury. Unum also provides stop-loss coverage to
help self-insured employers protect against unanticipated medical costs. The
company reported revenues of $11.3 billion in 2017, and provided $7 billion in
benefits.
View source version
on businesswire.com: https://www.businesswire.com/news/home/20180503006409/en/
Unum Group
Kelly Spencer, 423-294-4508
Kspencer2@unum.com
Kelly Spencer, 423-294-4508
Kspencer2@unum.com
Source: Unum Group
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