The Alliance of Automotive Service Providers of New Jersey on Friday announced members could take part in a new association medical health insurance plan.
Association health plans permit members of a trade group to pool their buying power and obtain a much better deal than those companies could obtain by going it alone.
“AASP/NJ qualified and has been approved for this program, which allows the association to purchase healthcare benefits at competitive rates and offers unlimited major medical group coverage for businesses which range from small owner-operated shops to megastores,” the trade group said.
The organization is dealing with allied board member Joe Amato Sr.’s Amato Insurance Agency on the initiative.
“Because of AASP/NJ's buying power, we've exceptionally priced products as little as $310 monthly for an individual and $932 monthly for any full family no matter its size or age,” Amato said in a statement. “Under the Association Health Plan, we are able to provide members with solid medical insurance that could be considerably less than what they are paying now.”
Amato Insurance Principal Joe Amato Jr. said Monday these costs known the employee’s insurance. He explained there wasn't any cost for a business to start the plan.
Amato Jr. said six plans existed, each one offering options for individual employees, a married couple, a worker with children along with a full family.
Nationwide, Bls March 2021 data indicates the average private sector company paid $457.62 of the flat medical premium for a single individual and $1,121.07 of a flat family medical premium every month. Employers typically covered 78 percent of medical premiums for single individuals and 66 percent of family medical premiums.
Assuming their employees paid the remainder, that will exercise to an average overall single medical premium of $586.69 and family medical premium of $1,698.59.
The Bls reports 55 percent of private industry businesses offered health care in March 2021, the most recent data available.
Collision Repair Education Foundation and I-CAR polling found nearly 70 percent of collision companies offering health insurance in 2021 and 2021 — though the percentage had fallen about 10 points from 2021.
All AASP-NJ members qualify to participate, even those out-of-state. Multiple deductible and health savings accounts options can be found. Perks include out-of-state usage “a sizable national network,” a Teladoc service offered at all hours for no co-pay along with a quick “no-hassle service line” for members, according to the AASP-NJ.
“No more awaiting 2 hours for an answer!” Amato Sr. said inside a statement.
Anyone interested should contact Amato Jr. at 732-530-6740, ext. 412, or joejr@amatoagency.com, or AASP-NJ Executive Director Charles Bryant at 732-922-8909. Nonmembers interested in joining the AASP-NJ can contact Bryant or call the business at 973-667-6922.
“We are actually proud to be the first to bring this chance to Nj,” Amato Sr. said inside a statement.
The AASP-NJ’s website on Monday also asked members to complete any adverse health questionnaire to assist determine rates. It said data would be kept private and survey participation would not commit the company to anything.
The Society of Collision Repair Specialists launched a similar association enter in 2021 for retirement accounts.
That association program also leverages buying power by reduction of fees when the collective quantity of retirement assets hits various thresholds. It allows members to split the price of mandatory annual audits.
Its structure also might save owners time handling research and fiduciary responsibilities.
