Aetna’s Strategic Resource Company Enters Into Agreement with The Boon Group®
New relationship will expand new market opportunities through enhanced capabilities
Strategic Resource Company (SRC), an Aetna company (NYSE:AET ), announced today that it has entered into an agreement with The Boon Group® to provide specialized products to government contractors, as well as direct billing and hour banking capabilities for all customers. The Boon Group® (Boon) is a leading third party administrator with more than twenty years of experience in providing non-traditional, full-service employee health products and services. By leveraging Boon’s unique product and service capabilities, SRC will further expand opportunities in the Commercial, Government and Labor markets.
“We have been evaluating this arrangement for over a year as part of our strategy to strengthen our number one position in the marketplace,” said John Webb, head of Government and Business Alliances. “Overall, we feel that combining our capabilities with those provided through The Boon Group® will provide maximum choice and satisfaction for our customers nationwide"
SRC is one of the premier providers of limited benefits insurance plans, which can be valuable tools in helping employers, attract and retain talented employees. SRC’s product portfolio includes medical, dental, in-hospital cash, short term disability (STD), term life and vision options extended on a group basis to employees who are typically ineligible for company sponsored benefits. These employees are often paid an hourly wage, work on a part-time basis or participate during a waiting period for other employer-sponsored coverage. They also account for a sizable portion of the uninsured population in the U.S.
Through the agreement with The Boon Group®, SRC will now be able to offer:
Products for Government Contractors tied to the Service Contract Act, Davis-Bacon Act, or similar state prevailing wage and local living wage laws
“Hour Banking” capabilities for the Labor markets, where some employees have a predetermined hourly amount contributed to their health plan by their employer based on the number of hours they work each month.
“We are excited about the new market opportunities that our relationship with The Boon Group® provides,” said Mark Schmidt, President of SRC. “We look forward to continuing to provide employers with affordable health care options for their employees and addressing the needs of the uninsured.”
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