Medical Coverage from The Contractors Plan

Prevailing wage contractors face many unique challenges such as weather delays, seasonality and job interruptions. It’s critical to have a benefit plan that can meet these challenges. The Contractors Plan provides quality health coverage and offers the flexibility you need with our unique hour banking program.

What is Hour Banking?

Hour Banking allows employees to “bank” hours during peak periods. These excess hours can be utilized during slow periods to allow employees to maintain coverage. With hour banking, employers can account for all hours worked as well as their corresponding fringes, and employees enjoy the opportunity to maintain year-round coverage.

Your company will benefit from hour banking if:

• The nature of your work is seasonal
• You have rapid increases or decreases in the number of employees working a job

• Required work credit hours qualify an eligible employee, and his or her eligible dependents, for one calendar month of benefits.
• Employees accumulate hours of work credit for excess hours worked.
• Eliminates the possibility of ineligibility under traditional programs.
• Protects employees during layoffs and inclement weather.
• Allows employees to bank up to 7 months of health care.
• Allows employer to pay for actual hours worked, making sure you don’t overpay for benefits. At Fringe Benefit Group, we can provide coverage in increments – both monthly and hourly. The process is transparent, making it easy to track hours and benefits.

Get the Bargaining Power of a Large Trust

Because our product is held in trust, we’re able to offer your company the benefit of being part of a larger group of contractors, which significantly minimizes risk and liability – particularly for smaller companies. We customize benefit plans for non-union contractors, enabling them to offer union-like coverage.

The Contractors Plan provides comprehensive, single-point services.

• Billing
• Administration
• Eligibility
• COBRA

When you partner with us, we handle it all. We’re a one-stop shop for contractors. We’re flexible. We can handle unique situations, such as insuring job sites only or insuring select groups of employees.

We work with quality partners, including: