Fringe Benefit Group, anticipating growth in the number of part-time workers in the United States as a result of the Patient Protection and Affordable Care Act, is making a big push into the voluntary benefits business.
The Austin, Texas-based company, in business since 1983, historically has offered limited benefit medical plans. Its clients have included Dick's Sporting Goods and Brinker International, the restaurant chain operator. But Obamacare limits those plans. Moving to address the issue, Fringe's Framework unit is now aggressively marketing dental, vision, critical illness, short-term disability, life insurance and accident plans to restaurant chains, retailers and other employers with a high number of part-time workers.
The voluntary benefits business has been growing over the past couple of years, as employers of all sizes seek to cut costs while at the same time offset coverage gaps. Most of the voluntary insurance market leaders, however, are focused on full-time employees.
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