We are excited to announce that the MBA Group Insurance Plan Committee has once again achieved a single-digit renewal increase for the 2024 plan year. This impressive streak, now spanning over 14 years, reflects the collective strength of our Association in securing competitive benefits at favorable rates.

Together, we are truly BETTER BY ASSOCIATION.

For member banks offering medical insurance through BCBSMA, the renewal increase will be 7.9%. The dental increase will be 2.9%.

More information will be shared in the coming days, but in the meantime, please refer to the attached presentation for additional details.

Attachments:

• Presentation Slides
• Zoom Recording
• Medical Only Rate Sheets
• Medical Only BlueFit Rate Sheets
• Medical & Dental Rate Sheets
• Medical & Dental BlueFit Rate Sheets

Vision Insurance

The VSP vision plans will enter a new four-year rate guarantee, effective through December 31, 2028. The updated monthly premium rates are as follows:

Base Plan

Individual: $9.28

Family: $19.94

Buy-Up Plan

Individual: $15.76

Family: $33.87

Life and Disability Insurance

Our partnership with The Hartford will continue with through 2025 with no increase to premium rates for the following coverages:

• Life Insurance
• Accidental Death & Dismemberment
• Short Term Disability
• Long Term Disability
• Accident Insurance
• Critical Illness Insurance
• Hospital Indemnity Insurance

Massachusetts Paid Family and Medical Leave rates will be provided after the State announces any changes to benefits and contributions.

Please feel free to reach out to us if you have any questions about the information contained here or would like to explore the additional coverage options which are made available to your bank as a member of the Massachusetts Bankers Association.