Beyond Benefits Trust for Life Science Companies Lives on following Extension from DMHC

Contacts

Principal, West Region
July 16, 2020California

In December of 2019, the California Department of Managed Health Care (DMHC) released an All Plan letter regarding Multiple Employer Welfare Agreements (MEWAs), or Trusts as we call them, operating in California. The original letter declared that all Trusts, including Beyond Benefits (Marsh & McLennan Agency’s proprietary group health benefits program exclusive to Biocom members) could no longer provide large group coverage and rates to employers with less than 101 employees beginning January 1, 2021.

However, in good news for the life science community, the DMHC has since released an extension that would allow the Beyond Benefits Trust to renew early and continue to offer employers, both large and small, coverage for an extended period of time. Marsh & McLennan Agency advocated for this outcome, directly communicating with leaders from the DMHC to urge them to consider the stability needed within the life science community during a time of uncertainty.

Beyond Benefits pools together California life science employers under one common entity which, combined with the purchasing power and market leverage of MMA, allows us to provide long-term rate stability, rich plans and value-added services to members of the Trust.

What does this mean for employers?

The Beyond Benefits Trust will now renew early on October 1st, 2020 for all 300 current participating employers with a favorable renewal rate.

As the industry’s leading broker, MMA will continue to advocate for companies of all sizes within the life science space.  

We recognize this extension will only serve current employers of this program. MMA can support other life science and biotech employers to find a solution that works best, including our new proprietary solution, FUSE Life Science. Check out FUSE Life Science and get in touch with us to explore additional alternative solutions.