HCC Life Insurance Company – Taft-Hartley

HCC Life Insurance Company understands that Taft-Hartley Funds are an influential purchaser of health care products and services; in fact, organized labor represents one in ten Americans. That’s one reason why we have a dedicated Taft-Hartley team that provides focused solutions for Taft-Hartley funds.

A “Taft-Hartley” fund is a multiemployer benefit plan maintained under one or more collective bargaining agreements. Taft-Hartley plans have four basic characteristics:

• • One or more employers contribute to the plan’s participation.
• • The plan is bargained with each employer.
• • Assets of the Taft-Hartley plan are placed into a trust fund.
• • The trust fund is managed by a board of trustees who equally represent each side - employer/management and labor.

Union workers in the building trades, and other industries, depend on Taft-Hartley funds for their health care. Many of these workers are seasonal, transient, or onsite for a specified time. They have the ability to earn and retain benefits when working for participating jobs. Reciprocity agreements between multiemployer plans allow members covered under their home plan to work in other locations while still receiving credit for their local union hours. The “reciprocal hours” structure enables union members to continue coverage between different jobs.

Properly structuring plans for Taft-Hartley funds requires a thorough understanding of the funds and their members:

• • Members are highly trained and skilled.
• • It takes years of education and experience to master their trades.
• • They require people doing business with the fund to “do it once and do it right”.
• • Proper terminology is essential: members not employees, funds not employers, etc.
• • The funds are loyal to their union members and to companies who utilize organized labor.
• • Members and trustees firmly believe in “Made in the USA”.

HCC Life takes pride in providing insurance solutions for Taft-Hartley funds. We specialize in underwriting creativity and claims paying excellence. Consider the following when selecting a company to provide medical stop loss for your Taft-Hartley clients and prospects.

• • HCC Life has become one of the largest providers of medical stop loss insurance in the country.
• • We are headquartered in Kennesaw, Georgia. All of our stop loss employees and operations are based in the United States.
• • HCC Life has earned some of the highest financial ratings from independent rating agencies, including A++ from A. M. Best.
• • 100% of the claims risk is retained by HCC Life, which means funds don’t have a reinsurance intermediary making claims decisions
• • HCC Life has a 40 year history of providing insurance solutions that help meet the needs of Taft-Hartley clients. We currently provide Stop loss and Organ Transplant benefits to over 200 Taft-Hartley Funds across the country.
• • We have a dedicated, knowledgeable Sales and Service team for Taft-Hartley Funds.

We look forward to demonstrating how HCC Life Insurance Company can help provide your fund with financial stability and creative solutions.

Please contact your regional marketing representative for more information.