New program aims for cost-savings, talent engagement and a healthier regional workforce
As part of the its ‘New in 22’ campaign, the Meadowlands Chamber (MC) launched an exclusive health benefits program earlier this year. The new program is now granting members access to substantial and cost-worthy employee benefits at special group rates, including health insurance, voluntary benefits and dental insurance.
“With the MC Benefits Program, we are now helping small and mid-sized businesses contain what we know is a major cost factor in operating their business,” said Jim Kirkos, president and CEO of the MC.
With the program now in full-swing, MC Members are eligible to join on the first of any month.
Supported by three reputable MC members dedicated to the benefits space
The MC has partnered with three reputable, trusted members companies to present its exclusive Health Benefits Program. By providing organizations – especially small and mid-sized businesses – with notable health insurance and voluntary benefits, the program can provide MC members with significant cost-savings.
The following trusted partners are engaged with the program:
My Benefit Advisor
One of the firms involved in the program is My Benefit Advisor, which has a seasoned team dedicated to “guiding employers through the complexity of planning, managing and communicating successful employee benefits programs,” said Rob Higginbotham from My Benefit Advisor.
My Benefit Advisor, comprised of local experts who know the ‘ins and outs’ of the New Jersey market, decided to partner with the MC in launching the program for four core reasons. The first two include the MC’s strong history in serving businesses to provoke innovation and economic growth, as well as the MC’s goal to drive success for all members. Next, MBA recognized the similarity between the MC’s membership profiles and the many nonprofits and small businesses MBA already assists. Finally, MBA was attracted to the convenience of the MC’s Meadowlands Media division as a vehicle for communicating updates and information about the program.
The second firm partner is World Insurance, which puts small and mid-sized businesses on the path to receiving large company benefits through its association and affinity program. This uniquely created program offers seven distinct PPO plan designs, all using Aetna’s First Health network.
While the cost of the program is already greatly discounted, it can become even lower when choosing from the seven reference-based pricing (RBP) options using the Private Healthcare Systems, Inc. (PHCS) network. The decisions are not left for members to make alone. World will ensure their expert team provides assistance in guiding members to the right options for their particular organization and employees.
Lastly, the MC has partnered with Delta Dental of New Jersey and Connecticut, consisting of local and national dental benefits leaders. The company has more than 83,000,000 American members, including 1,800,000 members covered in New Jersey and Connecticut.
With that being said, Delta Dental is experienced in offering a variety of dental plan options for all sized businesses.
“Delta Dental shares the MC’s desire to see strong, resilient small businesses,” says Christian Lambrugo, sales executive of small group and individual markets at Delta Dental.
Partnering with the MC in launching the new health benefits program was the perfect opportunity for Delta Dental to extend its friendly, caring customer service, easy claims processing and easy, no-cost quotes to MC members, according to Lambrugo.
What does the program provide?
My Benefit Advisor, World Insurance and Delta Dental have joined hands with the MC in creating a brand-new health benefits program for MC members, offering cost-effective, tailored options and group rates they may not otherwise have access to.
“We don’t live in a one size fits all world,” adds Terence Gorman, managing director at World Insurance
Through this exclusive program, members, employees and their families can be covered. Possible coverages and benefits include:
- Medical coverage
- Dental and vision coverage
- Medical advocacy services
- Live call centers
- Benefit plans that meet minimal essential coverage as mandated by the Affordable Care Act
- A team of expertise to guide you before and after choosing a plan
Save on coverage
The MC’s new health benefits program provides a great opportunity for small and midsize members to receive high-quality benefits at lower rates.
“[Participants] will realize savings of up to 35% annually, while improving the overall quality and features of their health plans,” said Gorman.
Stand out in the range of competitors
Employee benefits packages have evolved in various ways over the years, as the workplace is an everchanging, continuously shifting environment. With this comes a competitive race for retaining talented and skilled employees.
The present-day standard for education means students are expected to achieve higher and obtain more prestigious levels of education, resulting in a large number of recent graduates with talent and intelligence. The race to attract and retain these individuals has sped up tremendously, picking up great speed amid the current labor shortage sparked by the COVID-19 pandemic.
As an employer, it is important that you are creating and updating your offered health insurance programs. For starters, a robust benefits program encourages the safety and good health of the employees in your business. Employees who are in a stronger state of wellbeing tend to evoke more compassion and pride in what they do.
Passionate, engaged workers will benefit your company simply by having the drive and motivation it takes to build the business up. In turn, consumers will also be attracted to this lively energy and choose your business for their needs.
Staying on top of the latest innovations and improvements in health benefits ensures the bar is consistently being raised to promote higher levels of employee health and wellbeing. Employees want to invest their time and dedicate their careers somewhere they are appreciated – and treated as more than just a number. Personable, caring environments are, more times than not, the more popular, successful workplaces.
All in all, employees find it attractive when their employer prioritizes them and shows appreciation for their contribution to a business. Therefore, in order to achieve the win-win, it’s crucial to keep up with the moving trends.
Navigating a tightening labor market
As previously touched upon, a “war for talent” is brewing in today’s marketplace. This was happening even prior to 2020 but the pandemic has accelerated the labor shortage to near crisis levels.
To start off, COVID-19 has disrupted the labor market by initially requiring locations to close or limit operation. With this came insufficient incoming cash flow, forcing many businesses to furlough or let go of employees.
Another trend that impacted the job market was employees quitting their jobs for various reasons, including:
- Financial insufficiency due to shift reductions;
- Safety concerns about being at work in-person;
- The need to stay home with children learning remotely.
Business owners are struggling to attract and retain employees in the inconvenient, unpredictable times we are facing. Although, it is in our hopes that the pandemic will come to a complete end, it’s important to understand how to survive amid the chaos.
Notably, the pandemic has also taken a toll on individuals in a variety of ways. Subsequently, health benefits programs – including mental health – can be a tool that businesses use to protect their workforce and navigate a tightening labor market.
Offering health benefits programs during these circumstances prioritizes employee’s mental health and wellbeing especially when it’s most necessary. This is a huge attraction for employees particularly in times of despair, like the present COVID-19 pandemic, because it gives them a sense of safety and care in their workplace.
“Attractive benefit offerings are critically important in attracting and retaining employees, especially in this tight labor market,” said Kirkos.
Lambrugo added, “A key ingredient for small business success is to be able to attract and retain employees with benefits that job seekers are looking for.”
The labor market is anticipated to remain tight through 2022 and beyond. With this, it’s necessary to come up with your plan to attract, retain and engage top talent.
The MC Health Benefits Program is a great place to start.
If your organization is interested in the MC Health Benefits Program, please call (201) 939-0707 or visit meadowlands.org