BERLIN, Vt.--()--The Vermont Chamber of Commerce, in partnership with Digital Benefit Advisors, has launched Chamber Preferred™, offering a simple, yet innovative approach to employee benefits available at no charge to participating chamber members. Employers designate the amount they will contribute annually to each employee, enabling them to operate with fixed budgets, as well as eliminate costs and efforts associated with benefits administration. The program empowers employees to prioritize insurance needs and choose from an online marketplace the types of insurance and coverage that best meets their needs.
“Every day I have the privilege of working with organizations that thrive through their entrepreneurial spirit. It’s rewarding to embrace that same energy to develop a ground-breaking program that will produce exceptional advantages to these businesses.”
“Chamber Preferred is a novel approach to the complex challenge of containing employee benefit costs,” says Betsy Bishop, president of the Vermont Chamber of Commerce. “It will produce tremendous advantages for Vermont businesses, their employees and their families. The timing is particularly relevant. In 2014 state laws will prevent our smallest employers from continuing to purchase health insurance outside of a state-managed health insurance exchange. Chamber Preferred provides an optimal solution to help these companies attract and retain talent by delivering a compelling selection of crucial insurance benefits not offered through a state exchange, such as disability, life and dental.”
The program is available to businesses of all sizes, and companies can sign up now for January 1 effective dates. Participating organizations simply designate the amount they want to contribute annually to each employee’s benefits package (a “defined contribution”), arrange payroll deduction, and their work is done. There is no fee to the business, yet there are significant potential savings: an easy-to-use web-based system completely eliminates the time and resources needed to administer benefits programs.
Employees visit the online site to design their customized plan, selecting from a comprehensive array of insurance products featuring competitive rates, varied plans and advantages seldom available to small businesses. Options include life, disability, accident, critical illness, long-term care, dental, vision insurance and more, as well as health savings accounts and telemedicine services. Health insurance will be offered to the extent Vermont law allows. Individuals spend their designated funds in a manner that best suits their personal or family circumstances with the option to buy additional coverage or policies at group rates.
Chamber Preferred is powered by Liazon (www.liazon.com) Corporation’s Bright Choices® Exchange, delivering cost savings and benefit enhancements to more than 2,000 businesses in other regions of the country.
Digital Benefit Advisors (DBA) organized the statewide program and will lead sales efforts with a select broker network. DBA is a division of Digital Insurance, the nation’s largest employee benefits-only agency. The company provides the next-generation technology and infrastructure that enabled rapid deployment of this benefits solution in Vermont. Employers can tap DBA’s dynamic tools and resources including policy holder access to Digital’s Customer Advocate Center, with knowledgeable representatives who can help callers resolve questions related to coverage and claims.
“Chamber Preferred is an example of true innovation and partnership,” says Bishop. “Every day I have the privilege of working with organizations that thrive through their entrepreneurial spirit. It’s rewarding to embrace that same energy to develop a ground-breaking program that will produce exceptional advantages to these businesses.”
The Vermont Chamber of Commerce is sponsoring numerous seminars around the state, as well as webinars and other educational initiatives to help employers learn about this program. Business of any size can access this program by joining the Vermont Chamber. For more information, please visit www.chamberpreferred.org.
About Vermont Chamber of Commerce
The Vermont Chamber (www.vtchamber.com) is a statewide business organization representing every sector of the state’s corporate and hospitality community -- from the smallest local entrepreneurs to some of the largest corporations in the world. Our mission is to create an economic climate conducive to business growth and the preservation of the Vermont quality of life.
About Digital Benefit Advisors/Digital Insurance
Digital Benefit Advisors (www.digitalbenefitadvisors.com) is a division of Digital Insurance (www.digitalinsurance.com), the nation’s largest employee benefits-only agency. It delivers unmatched capabilities and a progressive approach to a marketplace demanding evolution. An unparalleled technology platform transforms the benefits experience, amplifies operational efficiencies and enriches communications to simplify the health care journey. The company’s scale, leadership and resources create distinct opportunities for industry innovation. With an adaptive culture that embraces change, the privately held firm is positioned for enduring success.