More good news for the Beyond Benefits Trust for life science companies
Trevor Walker
In December of 2019, the California Department of Managed Health Care (DMHC) released an all Plan letter regarding Multiple Employer Welfare Agreements (MEWAs), or Trusts as we call them, operating in California. The original letter declared that all Trusts, including Beyond Benefits (Biocom and Marsh & McLennan Agency’s proprietary group health benefits program), could no longer provide large group coverage and rates to employers with less than 101 employees beginning January 1, 2021.
This past May, the DMHC released an extension that would allow the Beyond Benefits Trust to renew early and continue to offer employers, both large and small, coverage for an extended period of time. Even better, the latest extension from the DMHC will now allow the participating employers to remain on a calendar year plan, creating a more seamless administrative experience with the same favorably low rates.
As a reminder, Beyond Benefits pools together California life science employers under one common entity which, combined with the purchasing power and market leverage of MMA and Biocom, allows us to provide long-term rate stability, rich plans and value-added services to members of the Trust.
What does this mean for employers?
While MMA was previously prepared the help participating employers of the Beyond Benefits Trust renew early on October 1st, 2020, the Trust will now resort back to a renewal on January 1st, 2021 for all 300 current participating employers.
As the industry’s leading broker, MMA will continue to advocate for companies of all sizes within the life science space.
We recognize this additional extension will only serve current employers of this program. MMA can support other life science and biotech employers to find a solution that works best, including our new proprietary solution, FUSE Life Science. Check out FUSE Life Science and get in touch with us to explore additional alternative solutions.
MMA is here to help.
For more information regarding the DMHC’s extension or MMA’s proprietary solutions available to life science employers, contact Trevor.Walker@MarshMMA.com.
