CEO Comments

Take the Benefits Survey and Support Surety Research

A driving objective of NASBP is to build its value proposition to members. Over the years, NASBP’s leadership has been tireless in uncovering opportunities by which the Association can bring value. Such opportunities have taken the form of services, outreach, networking events, education, and advocacy, all designed to bolster the welfare of members and the surety industry. This year, launching of the new Commercial Surety School and undertaking the public relations and advertising campaign are visible testaments to NASBP making that objective real and meaningful. And building value is and will continue to be an ongoing process for NASBP.

You may recall that the Department of Labor issued a rule this past June that establishes trade associations as appropriate vehicles to establish association health plans. Members of NASBP have enquired as to whether NASBP is considering establishing an association health plan to benefit its members, particularly smaller businesses. The value proposition of association health plans is that they allow businesses to band together to create economies of scale and therefore reduce administrative costs, and trade associations, with their membership rolls of businesses, are suited for that purpose.

To explore the feasibility of NASBP offering an association health plan as well as other benefits to its members, NASBP contacted Decisely, an integrated benefits solutions partnership that offers best-in-class benefits, including medical, vision, dental, life insurance, and more. The partnership can deliver comprehensive products, pricing, and support options to provide more cost-effective solutions for small businesses around the country.

Shortly, NASBP will send out a link to a brief, electronic survey to current member companies in order to assess the viability of offering a group health insurance benefits program. The survey will be sent via e-mail to your company’s key contact and will take approximately 4 minutes to complete. This survey is intended to collect basic information on your company’s benefit offerings and gauge interest in a potential future group benefits program. All of your company’s individual survey response information will remain confidential and will not be utilized for marketing purposes; nor will the information be shared with anyone outside of the Decisely representatives working on evaluating a prospective program.

A high level of survey responses is critical in giving Decisely adequate information to assess feasibility. As an added incentive for members to complete the survey, Decisely has agreed to donate $10 (up to a maximum of $2,000) to the Surety Industry Research Foundation, Inc., NASBP’s newly formed charitable foundation, the purpose of which is to financially support research on surety bonding matters, for each submitted survey.

Please look for an email from NASBP with the link to the survey in mid-December. By completing the survey, you are doing your part to help NASBP build its value for the future!