American Benefits Group Receives Innovator Superstar Award
NORTHAMPTON — Helping companies navigate healthcare benefit options while controlling costs and improving service has earned the American Benefits Group an Innovator Superstar Award from The Institute for HealthCare Consumerism (IHHC). The Annual HealthCare Consumerism Awards, published in the Journal HealthCare Consumerism Solutions last month, recognize companies who excel in executing innovative health and benefit management programs or providing those solutions to organizations. As healthcare costs have steadily increased, employers nationwide have been responding with large-scale adoption of high-deductible health plans paired with pre-tax, employee-controlled benefits spending accounts. American Benefits Group provides employers with turnkey third-party administration of a wide range of pre-tax employee benefits including health reimbursement accounts (HRA), health savings accounts (HSA), and flexible spending accounts (FSA). These accounts help companies and their employees offset the cost of deductibles, co-pays, and other medical expenses that are not covered by their healthcare plan, allowing employees and employers to contribute pre-tax funds into accounts designated for healthcare expenditures. Since pre-tax account contributions are not subject to employment and personal income taxes, they create substantial tax savings for the employees. The company also provides COBRA administration and compliance, and pre-tax commuter accounts. “We’re honored to be recognized by the Institute for HealthCare Consumerism,” said Robert Cummings, CEO and managing principal of American Benefits Group. “Our company delivers concierge-level services with cutting-edge technology for our customers who range from Fortune 1000 organizations to Main Street business. Using leading edge technology, such as consumer web and mobile applications and a smart benefits debit card payment system we’re deliver efficiencies and a superior consumer experience for our customers and their employees.”
American Benefits Group was founded by Cummings in 1989 and has 27 Northampton-based employees. Current customers include more than 650 companies nationwide with 50 to 15,000 employees including international iconic brands like Ferrari, Maserati, Wall Street giant Cantor Fitzgerald, and Mitsubishi, as well as many area employers such as Mount Holyoke College and Florence Savings Bank.