SAN DIEGO, May 5, 2014 /PRNewswire/ -- Barney & Barney, a Marsh & McLennan Agency LLC Company, today announced the availability of the Barney & Barney Benefits Technology Trust, a new employee benefits solution that pools the purchasing power of tech companies to buy benefits at a more competitive rate.
The Benefits Technology Trust provides mid-sized tech companies an opportunity to compete with larger tech companies that offer rich employee benefits to attract and retain scarce technology talent.
The Technology Trust is based on a similar, highly successful solution Barney & Barney pioneered for the biotech industry. Barney & Barney's Beyond Benefits has 92 biotech firms that are pooling their purchasing power to buy employee benefits. The program has saved companies more than $3.2 million since the program was launched in January 2012.
"Barney & Barney's Benefits Technology Trust helps emerging tech companies compete for talent by offering comprehensive benefits programs through a long-term cost savings strategy," said Paul Hering, Barney & Barney Managing Principal and CEO. "The collective purchasing model has proven highly effective in the biotech industry, where demand for talent is equally as competitive as the technology business."
Technology companies can choose from a range of insurance carriers for medical, dental, life, vision, wellness, and COBRA. Qualified companies also have access to Elite Comp, a workers compensation program offering competitive, below market rates to technology industry organizations. The Benefits Technology Trust can be used in private exchanges in which employers give plan participants a set amount to purchase from a menu of benefits. The Benefits Technology Trust can also be used to streamline the benefit enrollment process through Barney & Barney's online portal.
For more information about Barney & Barney Technology Trust, contact Adam Moise, Client Executive, at 415.615.0802, firstname.lastname@example.org.
About Barney & Barney
Barney & Barney is one of the nation's leading insurance brokerages, offering a comprehensive line of risk management and employee benefit solutions. The firm specializes in commercial property and casualty insurance, employee benefits, workers' compensation, compensation consulting, executive liability, personal lines and surety. In 2014, Barney & Barney joined Marsh & McLennan Agency LLC (MMA), a subsidiary of Marsh Inc., the world's leading insurance broker and risk advisor. Barney & Barney has offices in San Diego, San Francisco, Oakland and Orange County. For more information, visit www.barneyandbarney.com, or call 800.321.4696.
SOURCE Barney & Barney