Answer: I think the concern is unfounded. Asiatic lilies actually benefit from a light mulching; it helps keep the roots cool and slows water evaporation. Since these plants send up a thick herbacious stem directly from the roots, you'll want to take care not to pile organic matter too high on the stem. Doing so can hold too much moisture against the stem and could cause rot. So, mulch over the root area but don't pile the mulch material up against the stem of your lily and everything should be just fine.
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