Associated Builders and Contractors and Fringe Benefit Group Sign Strategic Partnership Pact
Jan 12 15
Associated Builders and Contractors (ABC) and Fringe Benefit Group reported they have signed a strategic partnership agreement. According to the company, as ABC's fourth strategic partner, Fringe Benefit Group will leverage its resources to assist ABC and its 70 chapters in supporting the ABC core value of helping members stay in compliance with government regulations and informed about compliance information.
Associated General Contractors of California Selects Fringe Benefit Group's The Contractors Plan as Health Insurance Partner for AGC of CA Members
Apr 14 14
The Associated General Contractors of California (AGC of CA) and its Affinity Partner Fringe Benefit Group announced that the AGC of CA has selected Fringe Benefit Group's product, The Contractors Plan, as a health insurance solution to offer to AGC of CA members. For more than 30 years, The Contractors Plan has helped companies bidding and performing on work subject to the Davis-Bacon Act, state prevailing wage laws, and living and responsible wage ordinances realize dramatic savings on their payroll expenses by allocating some or the entire required fringe benefit portion of the prevailing wage to bona fide benefit plans. This leads to savings in taxes and insurance costs, which leads to lower bids, increased profits and improved prospects for winning government projects. Through The Contractors Plan, Fringe Benefit Group offers major medical, dental, vision, life insurance and retirement plans designed specifically for government contractors. Fringe Benefit Group is highly skilled at understanding, recommending and implementing Affordable Care Act (ACA)-compliant health plans. The AGC of CA selected The Contractors Plan because of the numerous benefits and services it provides for contractors and their employees. Some of the unique aspects of The Contractors Plan's complete solution include an online portal that provides easy access to benefits information and simplifies benefits administration and management; a robust lineup of carriers including Kaiser, UnitedHealthcare, HealthNet, Metlife, Ameritas and Transamerica; interactive educational resources; and key services such as compliance support and eligibility/enrollment tracking. The Contractors Plan also utilizes an innovative concept called hour banking, which allows employees to 'bank' extra hours worked during peak periods, then draw from this excess to continue health insurance coverage during slower times. This can be especially valuable with the ACA requirement for all individuals to have health insurance and obtaining it pre-tax through an employer is much easier and less expensive than purchasing it on an individual basis. Another key benefit of hour banking is its ability to break the monthly premium into an hourly rate, which makes tracking and accounting much easier for the employer.