FAQs

As part of your bank’s membership with the Massachusetts Bankers Association, you have access to a comprehensive suite of employee benefit programs designed specifically for the banking industry. These include:

• Medical, Dental, and Retiree Medical Coverage through the Mass Bankers Group Insurance Trust in partnership with Blue Cross Blue Shield of Massachusetts
• Business Travel Accident Insurance offered through AIG
• A variety of supplemental insurance programs, including life, disability, and other voluntary benefits

The Group Insurance Trust is administered by MBA staff and governed by the Plan Committee, which is made up of representatives from our member banks. The Committee is intentionally composed to reflect a balanced mix of bank sizes, geographic regions, and roles to ensure diverse perspectives are represented. You can view the current Plan Committee members here.

To stay up to date on news, updates, and resources, subscribe to our mailing list by updating your Communication Preferences. Be sure to opt in to receive marketing materials from the Group Insurance Trust.

You can also view our latest news and communications posts anytime on our website.

All medical and dental plans through Blue Cross Blue Shield of Massachusetts (BCBSMA) renew annually on January 1st.

Renewal rates and plan updates are typically finalized and shared with participating banks in late September, following the completion of our annual negotiation process.

This timeline allows HR teams time to review any changes, prepare communications, and coordinate enrollment ahead of the new plan year.

If you have questions about your bank’s renewal or would like to schedule a review, please reach out to Chad Pook.

Each year, participating banks in the Group Insurance Trust are asked to complete a Plan Election Form as part of the renewal process.

• This form captures your bank’s selected medical, dental, and retiree plan options for the upcoming calendar year.
• It serves as a key tool for internal recordkeeping and ensures that billing, enrollment, and compliance materials are accurately aligned with your elections.

We typically request submission of the completed form in early October to allow for timely processing. A copy of the form and instructions are included with the annual renewal materials or can be requested from Chad Pook.

Banks enrolled in BCBSMA medical coverage through the Group Insurance Trust automatically receive access to our Banking on Wellness program — a turnkey wellness platform designed to support healthier lifestyles across your workforce.

The program includes:

• Quarterly wellness challenges with employee engagement tools.
• Incentives for annual well visits and preventive care.
• Reimbursements for eligible fitness and weight loss programs.
• Optional employer-level incentives to promote participation.

Participation is simple, and no additional enrollment is required. Learn more about available tools and rewards here.

The Business Travel Accident (BTA) insurance program, offered in partnership with AIG, provides coverage for employees traveling on official company business—whether locally, interstate, or internationally. Coverage also includes occupational violent crime and accompanying family members under eligible circumstances.

Coverage amounts vary by role:

• Officers and Directors: $500,000
• All other employees: $300,000
• Eligible spouses and dependents: $50,000

Benefits may be reduced for insured persons age 70 or older. Please refer to the full policy for detailed terms.

The enrollment period begins each October. Coverage costs just $2.64 per full-time employee per year. To enroll, contact Chad Pook with your eligible headcount.

The VSP vision plan is currently under a four-year rate guarantee through December 31, 2028. This means:

• No action is required each year to maintain your current vision coverage.
• If your bank would like to add vision coverage or make changes to your existing offering, please notify the Mass Bankers employee benefits team so we can process your request accordingly.

Vision coverage can be a valuable supplement to your benefits package, especially when paired with medical and dental offerings.

Through a preferred partnership with The Hartford, the Massachusetts Bankers Association offers member banks access to group-priced life and disability insurance coverages. Key features include:

• Customizable plans tailored to your bank’s preferred benefit levels
• Stable renewal pricing, supported by the strength of our pooled purchasing group
• Access to both basic and voluntary life and disability options

The current group contract is locked in through 2026, providing predictable cost planning for participating banks. If your bank is interested in joining or adjusting coverage levels, contact the Mass Bankers employee benefits team to explore available options.

The Pathway to Savings program is an exclusive offering available to banks enrolled in medical coverage through the Group Insurance Trust. Through a strategic partnership between BCBSMA and Indigo Insurance Services, eligible banks receive:

• 0.25% reduction on medical premium rates
• Automatically applied discount — no additional action is required
• Program funded through efficiencies gained by leveraging the size of the Trust and our long-standing carrier relationships

This built-in savings helps participating banks reduce overall benefit costs while continuing to offer high-quality coverage to employees.

Banks with 50 or more employees are eligible to offer discounted pet insurance through our partnership with Nationwide.

• Premiums are based on the type of animal, breed, age, and location
• Covers dogs, cats, and other common household pets
• Premiums are conveniently collected through payroll deduction
• This is a voluntary benefit, with no direct cost to the employer

Offering pet insurance can be a popular and affordable way to enhance your overall benefits package.

The Human Resources Discussion Group meets on the third Thursday of each month and offers a space for HR professionals from MBA member banks to connect, collaborate, and discuss key topics such as compliance, employee benefits, recruiting, and talent development.

These informal sessions are designed to be flexible and conversational—attend as your schedule allows. Members are encouraged to share questions, ideas, and challenges.

Have a topic or speaker in mind? You can submit suggestions at any time to be included in the monthly survey. Survey results are shared by email and posted on our website for ongoing reference.

You can view a full list of upcoming training sessions, webinars, and networking events on our website. Just visit the Education & Training page to explore what’s available and register for programs that support your professional development.

In addition to HR-focused content, we also offer a number of opportunities designed to support your employees’ career growth, including leadership development, compliance training, and role-specific workshops. New programs are added regularly, so be sure to check back often.

Mass Bankers presents the Fall 2025 Connect Conference, a full-day professional development event taking place on Thursday, November 20, 2025. This “mega-conference” combines four of our annual events into one impactful day featuring four dedicated tracks: HR, Marketing, Retail Banking, and Security & Loss Prevention.

Attendees can customize their day by choosing sessions aligned with their career focus, connect with peers across the banking industry, and explore resources from industry vendors at the on-site expo.

A detailed agenda and track topics will be released in July. Please check back for updates.

Who Should Attend?
This conference is ideal for professionals in Human Resources, Marketing, Retail Banking & Operations, Security & Loss Prevention, as well as Innovation Liaisons and Emerging Leaders across the Massachusetts banking industry.

Connect Conference Details