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W W W. M A I N E B I Z . B I Z 21 F E B R UA R Y 6 , 2 0 1 7 F O C U S G R E AT E R P O R T L A N D Dental in the South and Midwest, with more markets to be added by 2018. Starmount has 230 employ- ees. Starmount will continue to be run out of Baton Rouge, Simonds says, but sales and client manage- ment will be in local Unum offi ces in areas around the country including Boston, San Francisco and Chicago. Unum also owns Colonial Life in Columbia, S.C., and some products will still be sold under that brand. Origins of a marriage Starmount approached Unum about the partner- ship after it saw a press release about a small dental business Unum bought in the United Kingdom, Simonds says, adding that about 10% of Unum's business is in the United Kingdom, 90% in the United States and less than 1% in Maine. "We had looked outside before [for some ser- vices] but it would take a lot of capital and time to grow, so we were looking for an entity to become part of," says Deborah Sternberg, who will remain president of Starmount. "Unum has the capital and distribution. e cultures of Unum and Starmount are similar even though the companies are diff erent in size." She expects the merger to allow Starmount to double its employee base over the next fi ve years. " is is a huge opportunity for Unum and its clients as we can be a single provider for additional benefi ts to its disability and life insurance," she adds. "Dental is the second-most popular benefi t to employees next to medical. A suite of rich benefi ts is important whether or not the employer contributes." Unum estimates that a vision plan for an employee in the workforce could range from $10-$12 per month and a dental plan from $35-$45 per month, depending on factors such as the number of employees covered in the workforce, dependents on the plan, the type of plan and geographic location of the services. Group disability is less than $25 monthly per person for just the worker, and it replaces about 66% of their income, says Charles Piacentini, vice president of state legislative and government aff airs at Unum. Currently, about 30% of non-farm working Americans have access to or sign up for short- and long-term disability. "Employees underestimate their risk exposure due to sickness or accident, even for the short term," Piacentini says. He cites a Charles River Associates study commissioned by Unum that shows most employees can't withstand even three months of disability without insurance. And only half of U.S. workers say they could come up with $2,000, which is a typical copay, if something unexpected arose within the next month, according to Unum. CONSULTING | AUDIT | TAX | VALUATION Our team of CPAs and consultants can help you gain control of risks, costs, and governance. We provide audit, tax, information technology, and management consulting advice that gives you traction in a changing environment. Know where you stand, with advisors who dig deep. Learn more at berrydunn.com or call 800.432.7202. GAIN FIRM FOOTING Learn more. Visit us at berrydunn.com or call 800.432.7202. C O N T I N U E D O N F O L L OW I N G PA G E » Employees underestimate Employees underestimate Employees underestimate Employees underestimate Employees underestimate Employees underestimate Employees underestimate Employees underestimate Employees underestimate Employees underestimate Employees underestimate Employees underestimate Employees underestimate Employees underestimate their risk exposure due to their risk exposure due to their risk exposure due to their risk exposure due to their risk exposure due to their risk exposure due to their risk exposure due to their risk exposure due to their risk exposure due to their risk exposure due to their risk exposure due to their risk exposure due to their risk exposure due to sickness or accident, even for the short term. — Charles Piacentini Vice president of state legislative and government affairs

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