Medfield, MA 02052
Phone: 800-528-1530 ext 117
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North Shore Bank Branches Out ;
Offers Innovative Employee Benefits from Benemax
MEDFIELD, Mass.— Oct. 13, 2004— When North Shore Bank recently surveyed its business customers, rising health insurance premiums were very much on their minds. So the service-oriented bank, with 10 branches on Boston 's North Shore , partnered with benefit management firm Benemax to help determine the best options for health plans and other employee benefits.
“Through our partnership with Benemax, we're branching out and offering services that matter to our customers,” said Larry Harrington, Senior Vice President, Community Banking. “We selected Benemax based on our due diligence in talking to references, who raved about their responsiveness and expertise. One company we spoke to saved substantially on health benefits and we were sold.”
Benemax designs and administers a range of employee benefit plans, including health, dental, vision, disability, 401k and specialized plans for global firms. Back in 1985, the company pioneered the design of risk sharing plans that have evolved into today's popular consumer-directed health plans.
North Shore Bank's customers are primarily small- to medium-sized companies. Many do not have dedicated human resources staff to research and manage employee benefits. “Benemax plays that role, with the added value of their ability to negotiate the best rates and administer claims,” noted Harrington.
“Together, North Shore Bank and Benemax are bringing services and benefits to mid-sized companies that are usually available only to large corporations,” said David Cowles, Executive Vice President, Benemax. “This differentiates North Shore Bank from its competitors. Now an NSB customer can tailor a benefits package to fit its needs and resources and integrate that package into its overall corporate strategy.”
About North Shore Bank
North Shore Bank ( www.northshore-bank.com ),
based in Peabody , Mass. , has provided quality banking services
to families and businesses throughout Boston 's North Shore since 1888.
The strongly capitalized community bank is dedicated to customer relationships
by providing quality products along with outstanding customer service.
About Benemax
Benemax ( www.benemax.com ),
based in Medfield , Mass. , was founded in 1975 and manages employee benefits
for more than 250 corporate clients ranging from start-ups to divisions
of Fortune 500 companies. Benemax designs and administers attractive yet
highly cost-effective employee benefit packages, including consumer-directed
health and dental plans. The company has grown by an average of 30 percent
annually for the past four years.