When you’re shopping for your employee benefits you need to look no farther than the professional staff at the MBA’s office to assist you. With over a quarter century of combined experience in providing agent services exclusively to Michigan banks, your MBA team of agents provide members with the highest level of industry specific knowledge in the State.
The MBA on-staff agents can assist you with analyzing plan designs and help select the most comprehensive coverage available at the lowest possible cost. Furthermore, our on-staff agents are fully licensed in life and health, and are never commissioned to receive direct compensation for any assistance they provide to member banks.
The MBA is not just any insurance agent – we are YOUR exclusive agent – our interest is always pure to what’s best for you.
Simplified Billing Administration
The MBA helps member banks streamline their employee benefit administration through a customized on-line data system. Through a partnering company an employee benefit management data-base program known as Benefitsolver was created exclusively for MBA members. This system is free to member banks and has proven to be of value to member banks in the following ways:
- Reducing the amount of time your H.R. Department will take to enroll and maintain employee benefit records
- Simplifying billing function by consolidating multiple benefits on one invoice (Medical, Dental, Vision, Group Life & Disability, TPA charges, etc.)
- Eliminating the need to pay multiple carriers – all benefits can be paid for with one payment
- Putting answers to employee’s questions at your fingertips – database can be customized to include summary plan descriptions, benefit-at-a-glances, customer service numbers, beneficiary data, etc...
To arrange for a demo presentation of the Benefitsolver system, contact the MBA’s Employee Benefits Department at 517-342-9062.
Third Party Administration (TPA)
The MBA has partnered with two of the most highly recognized and respected Third-Party Administration (TPA) providers in the state; Kushner & Company and BASIC. These partnerships extend discounts to member banks for the following services:
- Flexible Spending Accounts (FSA)
- Health Reimbursement Accounts (HRA)
- Health Savings Accounts (HSA)
- Family Medical Leave Act (FMLA)
As an added feature of accessing your TPA services through the MBA, arrangements have been made to allow Kushner customer to have their monthly subscriber administration charges included on the bank’s consolidated invoice generated by the association.
Annual Compensation and Benefits Survey
MBA Service Corporation conducts this survey annually to provide data on the pay practices and benefit offerings of community and commercial banks in Michigan. It
Provides information and guidance for management in making compensation decisions
Is very effective when used in conjunction with other information, such as local labor market conditions, the bank’s desired level of competitiveness with the market, the bank’s recruiting experiences, etc. is the most comprehensive survey of its kind in Michigan and is exclusive to the financial industry.
This survey provides information on nearly a hundred specific job titles that are grouped by regions and by bank asset size. Over seventy percent of Michigan FDIC insured institutions provide data to this survey.
To obtain the most recent publication of the MBA’s Compensation & Benefits Survey, please contact the Employee Benefits Division at 517-342-9062.
Outside Directors Survey
This Outside Directors Survey offers key information pertaining to the frequency of annual board and committee meetings, fees paid for various levels of Board services, and benefits available to the outside Directors. Statistics are differentiated by region, bank’s asset size, and number of full-time employees. The mandatory retirement age, year-end bonus and any absences allowed without change to fees paid are also contained within the survey.
To obtain the most recent publication of the MBA’s Outside Directors Survey, please contact the Employee Benefits Division at 517-342-9062.