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Group Insurance Overview

The MBA has met the group insurance needs of member banks for over 50 years, utilizing only the highest quality insurers. Our experienced insurance professionals serve hundreds of Minnesota banks and are in the best position to provide the right coverage for you. 

Bankers play a key role in our group insurance programs as two groups provide oversight and guidance. The Employee Benefit Trustees review existing programs and consider new insurance opportunities. They also oversee our group Dental, Life, and Disability Plans which provide outstanding value to our members. In addition, our MBA ISI Board of Directors has oversight over our agency relationships with Medica, BlueCross BlueShield, and HealthPartners. 

Available Plans

Life Insurance

  • $500,000 Maximum for Basic Life
  • $500,000 Maximum for Optional Life
  • Dependent Coverage up to $250,000 for spouse, $10,000 for children

Disability Insurance

  • Purchase STD, LTD or both products with varying waiting periods
  • $10,000 maximum monthly benefit
  • 60% benefit
  • STD plans that allow the employee to buy-up coverage up to 60%

Dental Insurance

  • Four plan designs available including plans with 80% crown coverage and up to $2,000/year plan maximum
  • All plans include 100% coverage for diagnostic and preventive services
  • Access to Delta Dental network dentists even when you are traveling out of state

Medical Insurance

  • Act as agent of record for member banks of the Minnesota Bankers Association
  • Have agency agreements with Blue Cross and Blue Shield of Minnesota; Health Partners, Inc.; and Medica Health Plan
  • We are also the exclusive representative for the Iowa Bankers Benefit Plan in Minnesota

Supplemental Voluntary Benefits

  • Plans include Critical Illness, Vision, and Accident coverage
  • Group rates that allow employee premiums on a pre-tax basis (approximate savings 25%)
  • Plans designed to complement MBA Trust Plans
  • Coverage for employee, spouse, and families with guaranteed issue