Save Money with TEA Business Solutions
As a benefit of membership, you gain access to insurance programs designed to save you money and provide service customized to the needs of your ESOP company. All of these plans are administered by partners who know ESOPs because they are TEA members: Fred C. Church, Murray, and ProAct (a division of KPH Healthcare). So, you are guaranteed to get service that meets your needs and low pricing by joining in group purchasing with your fellow TEA members.
TEA's Pharmacy Benefit Management Plan
Prescription drug costs are expected to rise 3.6% in 2021. What's more, specialty drugs are a huge and potentially volatile source of costs, making up only 1% of all medications purchased but accounting for 40% of all pharmacy costs. That means one employee owner who needs one specialty drug could send your entire pharmacy cost skyrocketing at any time.
Now you can control those costs with TEA’s Pharmacy Benefit Management Plan, offered exclusively to members of The ESOP Association.
Join today to provide your employee owners with the high-quality medications they need, while retaining more money for your ESOP accounts!
TEA Group Captive Workers' Comp Insurance Plan
Companies with a strong workplace culture—like ESOP companies—often have good safety programs and fewer workplace accidents, which result in less expensive workers’ comp claims. That is why ESOP companies are better off joining workers’ comp insurance plans that are available only to other ESOP companies, because together they will enjoy lower premiums and great savings.
Now that plan exists: Meet TEA’s new Workers’ Comp Captive Insurance Plan, available exclusively to ESOP Association members.
TEA Group Captive Health Insurance Plan
Gain the advantages of a fully insured health plan—without the enormous risks these plans typically bring for smaller companies. By joining other ESOP Association members, you gain expanded purchasing power resulting in benefits such as lower fixed and variable costs, monthly claims reporting, access to multiple plans, pharmacy benefit management, and options that can help you provide outstanding health care while keeping more money in your ESOP.
TEA Corporate Insurance Program
ESOP companies have unique needs when it comes to business insurance, and no one understands that better than The ESOP Association and its insurance partner, Murray, a TEA member. Get policies customized to the needs of employee owned businesses, including Fiduciary Liability specifically tailored to ESOP companies. Also available: policies covering Director’s and Officer’s Liability, Employment Practices Liability, Commercial Crime, and Cyber Liability. Wonder how much coverage to purchase? Get access to invaluable benchmarking data—specific to ESOP companies—to guide your decisions.