Homebuilder associations across the state have joined together with a Memphis-based benefits firm to create the state's first private health insurance marketplace for the construction industry.
The Memphis-based West Tennessee Home Builders Association and sister associations across Tennessee said today that they have contracted with the national employee benefit consulting firm BGAC Inc. and Memphis-based Shoemaker Financial to launch the Tennessee Construction Industry Health Insurance Program (TCiHIP),
TCiHIP is compliant with the Affordable Care Act and makes Tennessee the 10th state where a private exchange has been established specifically for National Association of Home Builders' member associations.
TCiHIP members can offer a defined contribution strategy to employees, including an online marketplace - www.tcihip.com- for picking insurance packages. The marketplace will feature carriers including BlueCross BlueShield, United Healthcare, Cigna, Gaurdian Healthcare Providers, TransAmerica, Unum, Colonial Life and MetLife, among others. Shoemaker Financial's role will be to guide member companies and their employees through the health care selection process.
'Businesses are experiencing a confusing time in regard to the health care industry right now,' said Don Glays, executive director of the West Tennessee Home Builders Association in Memphis. 'The most frequent concern we hear from members is the stress of having to figure out a benefits plan that offers employees good options and keeps the company compliant. A private exchange like TCiHIP takes the stress and confusion out of planning.'
Rob Robertson covers banking and finance, health care, law, insurance and economic development. Contact him at rrobertson@bizjournals.com.
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