January 26, 2015 4:04 PM ET

Insurance

Company Overview of Fringe Benefit Group

Company Overview

Fringe Benefit Group was founded in 1983 and is based in Austin, Texas.

11910 Volente Road

Austin, TX 78726

United States

Founded in 1983

Phone:

512-349-4760

Fax:

512-349-4765

Key Executives for Fringe Benefit Group

Chief Executive Officer and President
Executive Vice President of Government Markets
Vice President
Vice President of Health Operations
Director of Group Benefits-Government Markets
Compensation as of Fiscal Year 2014.

Fringe Benefit Group Key Developments

Associated Builders and Contractors and Fringe Benefit Group Sign Strategic Partnership Pact

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

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.

Fringe Benefit Group Announces Insurance Plans for Part-Time Workers

Fringe Benefit Group announced the availability of Framework benefits, a variety of insurance plans designed specifically for part-time workers. Designed for part-time employees, Framework benefits include dental, vision, critical illness, short-term disability, life insurance, and accident plans. The Framework benefits team works closely with brokers to customize plan design, pricing, communication, implementation, and enrollment to meet their customers' individual needs. Framework's goal is to make insurance for part-time employees easy on the employer. A live call center and online tools handle enrollment and member questions. Billing, eligibility, fulfillment, and identification cards are all customized to serve this particular market. Framework also serves as the IT interface for its clients' HRIS and payroll systems and provides daily account management. Framework benefits are underwritten by multiple "A" rated carriers, providing employers with numerous plan options, flexibility, and strength. And while these plans will not meet the government's minimum essential coverage requirements, they provide affordable benefits that employers can use to assist in recruiting and retention.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 23, 2014
The American Worker Plans, Inc.
 

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