NEFI and MEMA Announce Private Association Health Insurance and Employee Benefits Marketplace

Insurance

The New England Fuel Institute (NEFI) is pleased to announce that it has contracted with national employee benefit consulting firm gbac, inc. of North Haven, Conn., to launch a private health insurance and employee benefits marketplace for its members in Massachusetts. NEFI will offer the program in partnership with the Massachusetts Energy Marketers Association (MEMA).

NEFIMEMAGiven the tremendous burden that health insurance and benefits requirements place on each and every member of NEFI, and the challenges posed to all our members by Obamacare, NEFI is delivering a much-needed solution. We are organizing the most comprehensive, powerful and user-friendly tool to aggregate all employee benefits, the carriers that sell those benefits, and the plans behind those carriers in one, convenient, safe place for our members in Massachusetts to use.

“The launch of our private marketplace after the first of the year is important to delivering a tremendous array of health insurance and other employee benefit options to our members – unlike what our members could find anywhere else. In addition, our partner at gbac delivers important compliance and administrative help to our members in the wake of the Affordable Care Act,” said Michael Trunzo, CEO of NEFI.

“MEMA is most pleased to be able to offer these benefit programs to our membership in partnership with NEFI,” said MEMA President Michael Ferrante. “Our Board of Directors is hopeful that this important relationship with NEFI will strengthen and enhance the vital services both associations provide to the industry.”

The Connecticut Energy Marketers Association has already opened a benefits marketplace with gbac, and the Oil Heat Institute of Rhode Island is also working on one. The firm is also developing more than a dozen other marketplaces across the country with a variety of trade associations.

The world of employee benefits has changed and continues to change. These changes place enormous burdens on all NEFI members and their employees, regardless of the size of the company. NEFI has decided to lead its members through the minefield of all these changes with professional guidance and with a private marketplace for benefits, carriers and plans selection second to none to make the lives of our members easier. That’s what we’re here for!

Every NEFI member’s insurance broker can place their business in the NEFI marketplace. Our partner at gbac, who brings us this tremendous marketplace, wants to work with all brokers so that our members’ and our association’s strength is maximized using this marketplace.

The NEFI/MEMA private health insurance and employee benefits marketplace is a great solution that will deliver for member companies.

SMART. Over 300 companies each buying their health insurance and other benefits for 6,000 employees in Massachusetts and their dependents one at a time does not leverage their enormous potential buying power. Three hundred companies all buying their health insurance and employee benefits in a NEFI-created marketplace does leverage their enormous buying power.

SAVVY. Where no market or competition for your business existed before, the NEFI Health and Employee Benefits Marketplace creates the very market competition that has long eluded small businesses. Now, with this marketplace, we give you the same range of choices and opportunities and leverage that single large businesses enjoy.

NEFI’s health and employee benefits marketplace will contain every major employee benefit available today from health to dental to life to vision to long- and short-term disability and many others. We bring you not just all of these different benefits, we also bring you all the carriers that offer these benefits along with their different plans to choose from—all in one robust, competitive environment where you and your employees make their benefit choices within a safe, professionally guided environment available to you 24 hours a day, 7 days a week, 365 days a year.

NEFI’s health and employee benefits marketplace can easily change with any change that comes from the benefits industry or from government—assuring you the peace of mind that with your association you will always find the latest and best employee benefit choices for your business and employees.

Nowhere else will a NEFI member find the extraordinary array of benefits, carriers and plans to choose from, all in one place.

SIMPLE. We streamline the entire health insurance and HR benefits process so that it is efficient and simple. Our marketplace website is intuitive and easy-to-use for employees, HR managers and administrators alike. Our services are designed to ease your burden – not create another one. We also use the best technology on the market today. It’s intelligent, fully automated, and can be configured the way you need it. Our products and services are only as good as the people behind them. Our experienced team comes from first-rate companies in the benefits, consulting, outsourcing and technology sectors, and they uphold our high standards of excellence in everything they do. That means we listen to your requests, deliver what’s promised, and make sure it’s done right.

COMPLIANT. The Patient Protection and Affordable Care Act (ACA or Obamacare) is 2,700 pages of law and 25,000 pages of regulations from three federal agencies and climbing. It imposes $800 billion in 20+ new taxes on consumers, businesses and employees through 2022. A key service for NEFI members using this powerful new health and employee benefit marketplace is compliance assistance—webinars and seminars for you.

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