RUMSON, NJ - Resources Real Estate has become the latest brokerage to offer its independent contractor agents alternative healthcare options other than leaving individuals to find coverage through the Affordable Care Act’s open marketplace.
The Monmouth County-based independent brokerage has maintained a small group Blue Cross Blue Shield insurance plan -- which includes Vision and Dental coverage as well -- for many years, providing access to more affordable coverage to agents and their families. Because of their independent contractor status, agents are responsible for their respective insurance premiums but benefit from lower rates.
“Practicing real estate is a rewarding yet challenging profession and we strive to help make the experience of greater benefit to our agents,” said Senior Partner and Broker Thomas McCormack. “Our commitment to our agents and staff is clear and we know that providing health insurance options for their families is an important part of that. I believe it’s one reason we were named a Top Workplace in 2019 by NJ.com.”
In addition to health coverage, the company is planning to offer additional voluntary benefits in 2020 including life and disability insurance and even a college tuition reward program which will allow agents to save for college for their children and relatives. The company hopes to announce details of these programs in January.
According to a National Association of Realtors report in 2018, approximately 86% of U.S. real estate agents are independent contractors. As self-employed people, their status has kept most of them from receiving the benefit of employer-provided or even small group discounted health insurance. As a result they found that 14% of real estate agents have no coverage at all.
“In order to do your job well, we know that each agent must take care of some fundamentals and health coverage is certainly high on the list,” said McCormack, “and we are very pleased to be able to help our agents in this manner.”
About Resources Real Estate
Resources Real Estate is Monmouth County NJ’s premier independent brokerage serving both residential and commercial clients with an exceptional standard of professionalism and service, state-of-the-art technology and in-depth market knowledge. With over 90 sales associates and support staff, Resources Real Estate services Monmouth, Ocean and Middlesex counties and maintains strong referral relationships with brokers throughout the U.S. and internationally. Resources Real Estate has offices in Rumson, Atlantic Highlands and Shrewsbury, NJ. Resources Real Estate has been recognized by Who’s Who in Luxury Real Estate, The Board of Regents of Luxury Real Estate, Inc. 5000, NJBiz 250, are members of the Forbes Real Estate Council and was named a Top Workplace for 2019 by NJ.com. www.resourcesrealestate.com