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Blue Cross Blue Shield of Massachusetts (BCBSMA) will soon make five of its fast-growing health plan options available to small businesses across the commonwealth through a group purchasing cooperative with the Retailers Association of Massachusetts.
The health plans are designed to be affordable, and offer a 3-percent savings for small businesses, according to a statement by Blue Cross. Plans also include a wellness program to encourage members to live healthier lifestyles. They will be sold beginning Aug. 1, and coverage will be effective Oct. 1, according to Sharon Torgerson, BCBSMA spokeswoman.
Jon B. Hurst president of the Retailers Association of Massachusetts (RAM), said in a statement that affordable health care options, like those to be offered to his members, are much needed.
"Employer choice models, where employers set a monthly dollar contribution and employees choose what coverage works best for them, have long been available to large employers, but not small businesses, and they allow for savings and real choices for these consumers," Hurst said.
Employers participating in the RAM purchasing cooperative will choose from a portfolio of HMO Options and Hospital Cost Share tiered network products, as well as consumer-driven health plans that offer additional savings and allow more choice for members in selecting subscribers, according to Blue Cross. Members may also choose from PPO plans, which include a health savings account option.
The company said Options and Hospital Cost Share plans are the fastest growing in its history, with about 200,000 members to date.
Purchasing cooperatives that benefit small business have recently been established through the Massachusetts Association of Chamber of Commerce Executives as well, allowing Massachusetts chambers of commerce to offer discounted plans to their members.
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Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
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