An Employee Benefits Partner You Can Count On
The Trust, an employee benefits program that specializes in serving Northwest credit unions, offers assurance in this ambiguous environment.
Because The Trust is comprised of thousands of employees enrolled across more than 100 participating employers, all employers, even small credit unions, can benefit from options usually only available to large companies. This buying power not only gives participating credit unions some of the best prices in the market, but also offers stability.
“We’re not at the whim of every small change in healthcare policy,” said Donna Losch, SVP and Senior Benefits Consultant for Brown & Brown Insurance, the company that manages The Trust.
An NWCUA Strategic Link partner, the Trust is a one-stop shop for member credit unions’ employee benefits needs, including medical, dental, vision, life, and disability. The Trust makes it easy for a credit union’s HR staff to implement an employee benefits plan, regardless of asset size. The benefits options they offer have been selected for their cost-effectiveness for Northwest credit unions, and you can pick and choose the benefits that best fit your team.
The Trust also provides everything employers need to manage and enroll employees, including COBRA administration, online enrollment, consolidated billing, Employee Assistance Program, a human resources support line, and a dedicated Trust team.
The Trust team makes administration, compliance, and day-to-day support for questions more efficient. They take care of everything for your credit union, from COBRA administration to ERISA compliance. Plus, since The Trust works with providers on your behalf, you only have to pay one bill, and enrolling employees can be done quickly and easily online.
The Trust also remains consistent in terms of annual renewal rates, which are becoming an ever-increasing burden for employers. “In the Northwest, annual renewal costs have been increasing at a rate of 10 to 11 percent every year, on average,” Losch explained. “In contrast, The Trust is now in its eleventh year under 6 percent on an aggregate, annualized basis — about half of what the annual increase has been across the region.”
Angela Lowe, Director of HR & Training at Verity Credit Union, highlights this as a key benefit of participating in The Trust. “Year after year, The Trust continues to operate with a high level of integrity, and fights hard to get us the best rates possible,” said Lowe. “Most importantly, we haven’t had a double digit increase on medical rates since joining. We had a significant increase every year prior to joining The Trust.”
Interested in hearing more about The Trust and the state of healthcare today? Join us during the MAXX conference for The Trust’s Impact session, which addresses the state of the Affordable Care Act and what it means for your credit union.
For more information about how The Trust can serve your credit union, contact Donna Losch, SVP and Senior Benefits Consultant for Brown & Brown, at 253.396.5544.