We are Here for You. 

For over 40 years, the MBA has worked diligently to keep our renewal rates at or below medical and dental trends. A 2023 survey of our members participating in the group insurance plan, 94 percent indicated that the plan was a good value compared to what was available on the market. 

As widely publicized in the news and by Sarah Iselin, President and CEO of BCBSMA, in her recent Op-Ed, the cost of healthcare continues to climb, with most Massachusetts employers expecting a significant increase in healthcare rates for 2026. Just this week, the Wall Street Journal published a major article entitled: Health Insurance Costs for Businesses to Rise by Most in 15 Years. We are not immune to these price increases, which are driven by inflation, increases in pricing from physician groups, prescription drug costs, and other factors. 

Negotiations are still underway, but we know that our medical and dental rates will be meaningfully higher than last year's rates. However, we have already seen that they are shaping up to be much lower than those in our marketplace, as we are issuing proposals to several non-GIT banks faced with dramatic rate increases, including some as high as 49%. That's a testament to the strength of our program and the collective bargaining power of the Group Insurance Trust with our 10,000+ subscribers. It is also a testament to the incredibly dedicated Plan Committee which includes representatives from Cape Cod 5, Middlesex Savings Bank, Watertown Savings Bank, North Shore Bank, Lee Bank, Bristol County Savings Bank, Winchester Cooperative Bank, Avidia Bank, and Coastal Heritage Bank. 

Comprehensive & Flexible Plan Options

Of course, rising healthcare costs are a real concern, and they do have a ripple effect on your bottom line. The MBA GIT offers a wide range of medical plans, from first-dollar HMOs to high-deductible health plans with various cost structures, including new plan design options put in place as recently as last year. This flexibility enables banks to tailor benefits to their workforce and business philosophy while meeting both financial and employee wellness goals. In many cases, altering the mix of plans offered can substantially mitigate the impact of the expected cost increases. 

We can work with you or your broker to review your current plan mix and develop a customized solution for your bank that maximizes the value of your benefits while keeping your coverage aligned with your overall goals. Chad Pook, VP of Group Insurance Administration, will be reaching out to select banks we've identified with recommendations specific to their organization. You are also welcome to request a strategy review at any time if you'd like to explore alternatives or adjust your approach.

Commitment to Health & Wellness

We actively collaborate with BCBSMA to implement best-in-market solutions, providing exclusive access to programs targeting chronic conditions, mental health support, weight management, diabetes care, and overall wellness-at no additional cost to subscribers. These programs remove common barriers to care, ensuring employees have access to critical health resources.

We have attached a brochure detailing our offerings and benefits. If you have any questions, please do not hesitate to contact us or Chad at 617-502-3810 or cpook@massbankers.org.

We continue to work with the GIT Committee and BCBSMA to secure the best rate possible for 2026 and anticipate communicating the details to our members in the near term.

Thank you for your continued membership. 

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