The NEAD Trust is a non-profit organization established in 1950 by the Massachusetts State Automobile Dealers Association (MSADA). Subsequently, the Trust severed its relationship with the MSADA and, in accordance with requests from dealers and other automotive related interest groups, we expanded to include other New England states. Currently the Trust administers Life, Health and Dental plans for Dealers in Massachusetts, Connecticut, New Hampshire, Vermont and Rhode Island.
As a direct result of the Trust's size, we have been able to negotiate competitive rate levels with various insurance companies throughout the years. Routinely, Dealers are able to procure more competitive rates through the Trust than by going directly to an Insurance company. There are no dues to be insured through the Trust. Expenses are offset through reimbursement levels that are included in the monthly rates. As a rule, the Trust recognizes and encourages the use of insurance brokers.
Currently the Trust's medical coverage is insured through either Anthem Blue Cross & Blue Shield of CT or Fallon Community Health Plan; no coverages are self-insured or partially self-insured. The plans are administered by the NEAD Insurance Trust in conjunction with either Anthem Blue Cross of Connecticut or Fallon Community Health Plan. In addition to health insurance, the Trust offers group Life, AD&D and Short Term Disability Income which is provided through the Anthem Life Insurance Company and Group Dental coverage which is underwritten by Delta Dental of Massachusetts.
In that the Trust is non-profit and is run by Dealers for Dealers, our main objective is to service our members through complete insurance administration. In addition, the Trust provides all employees insured with medical coverage with $10,000 Life/AD&D as well as direct access to an Employee Assistance Program (KGA). We pride ourselves on servicing our members and providing valuable benefits at comparative rate levels. Through the efforts of an independent insurance consultant, we evaluate the competitiveness of our rate levels annually. Our goal is to provide the best quality products at competitive rate levels underwritten by insurance companies that are both known and respected on a national level.
