10 reasons why You should work with Insurance Trust
1. Construction Industry Expertise — ABC’s Insurance Trust operates exclusively for ABC members. The Dollar Bank program is a valued resource available only to ABC members.
2. DOL Bona Fide Trust — The ABC Insurance Trust is a Bona Fide Trust that has been in operation for more than 50 years. All fringe benefits administered through ABC’s Dollar Bank program are considered Bona Fide by the Department of Labor.
3. Your Health Insurance Carrier — The ABC Dollar Bank can work with most health insurance carriers in the country — you can even keep your current health plan.
4. Flexible Plan Designs — There are no restrictions on the type of plan design you can use with ABC’s Dollar Bank. We have expertise in working with all types of plans, including HMOs, PPOs HSAs and HRAs.
5. Dedicated Service Team — Your Dollar Bank account will have a dedicated service team to assist with accounting, reporting, claims adjudication, benefits communication and more.
6. Prevailing Wage Expertise — Our administrative team has many years of experience working with prevailing wages at the federal, state and local levels. We help you stay compliant in meeting your fringe benefit obligations.
7. Free COBRA Administration — ABC administers COBRA for all lines of coverage, including Dollar Bank run out.
8. Comprehensive Reporting — The Dollar Bank reporting includes a detailed monthly report of current contributions and account balances. The contribution summary can be attached to certified payroll as proof of benefits paid for.
9. Low Administrative Cost — A survey of other hour bank providers reveals that ABC’s Dollar Bank cost is significantly less than other solutions. Additionally, there is no set up cost for the Dollar Bank.
10. Virtual HR Assistant — All ABC clients receive access to our Virtual HR assistant website, which is a secure portal that provides compliance information and legislative updates, as well as benefit resources, HR documents and a discussion forum.