BioNJ Offers High-quality, Affordable Group Health Benefits to Member Companies and
Click Here for Frequently Asked Questions.
Managing and controlling employee health benefit plan costs is both complex and expensive. The life sciences and tech sector is a particularly underserved market in the health benefits arena. Most options that exist in the market today are bundled, imprecise and expensive. BioNJ, in partnership with Conner Strong & Buckelew and Members Health Plan NJ (MHPNJ), is bringing a cost-effective health benefit solution to the New Jersey life sciences ecosystem.
A few facts about the plan:
- Employers must be a BioNJ Member organization to be eligible to participate.
- The MHPNJ is a New Jersey self-insured member-owned MEWA (Multiple Employer Welfare Agreement).
- The MHPNJ currently services more than 3,800 member companies in NJ from existing associations, currently covering more than 37,000 participants.
- The MHPNJ offers participating employers more than 20 unique medical benefit design options, 6 prescription plan options and 4 dental plan options
- Groups experience stable and consistent renewals — most recent renewals were given 0% increases and the average renewal increase in 2019 has been 5.9
- BioNJ Members have a voice in decisions about the health plan — BioNJ President and CEO Debbie Hart sits on the Board of the health plan and can weigh in on plan decisions that affect beneficiaries
- There is no need to change brokers. Our Team will work with your existing brokers and pay competitive commissions and bonuses.
- COBRA/NJ Continuation Administration at no additional cost to the employer
- Access to HRA/FSA/DCA administration at no monthly fee – This typically costs $5-8 per employee per month.
- An employer online enrollment system to manage your group and your employees at no additional cost.
- No limitation to the number of plans that an employer can offer – Offer your employees the choice of 1 or all 22 benefit plans– it’s up to you!
- Employers can offer one or multiple Rx options to your employees.
- Aetna is the health plan provider — offering our Members services typically only provided to large national accounts (at no additional cost), such as:
- Aetna One Advocate (A1A) Program – Exclusive Concierge Member Service Program
- Member Service Team dedicated only to our Health Plan
- Member Portal
- Mobile App
- 24/7 Nurse Health Line
- Telemedicine (Teladoc)
Please click here for answers to frequently asked questions about the Plan.
Click below to watch our latest BioNJ Health Benefits Plan Webinar.