The Department of Financial Regulation Approves Two Association Health Plans in Vermont

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Late last week, the Vermont Department of Financial Regulation announced it had approved licenses for two Vermont-based associations to offer 2019 health plans to sole proprietors and employers with 100 employees or less. The Associations are:

Both associations are offering multiple plans designed to complete with the Exchange's Gold and Silver metal level plans. These plans, also known as Association Health Plans (AHPs), cover all the Essential Health Benefits and state mandates. The premium rates for these plans are, on average, less expensive than the Exchange rates.

The Richards Group is happy to provide its clients with a customized benefit analysis and model potential cost savings by enrolling in either one of these AHPs for 2019. If you haven't already heard from your Account Manager, please let us know.

The Richards Group named Best Employee Benefits Firm in Vermont

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The 2018 Best of Business Award winners have been announced by Vermont Business Magazine and The Richards Group has won as Best Employee Benefits Firm. This awards program celebrates the best Vermont companies in business-to-business categories.


“We’re very proud to be named Vermont’s Best Employee Benefits Company,” said Tom Scull, Vice President of Employee Benefits at The Richards Group. “Many of the surveyed readers of VBM are clients and know first-hand how important employee benefits are to a company. To be named a stand-out business in our field of expertise, a business that provides best-class customer service, a business who is known for going above and beyond, and a team of experts who pay close attention to detail demonstrates our success. Congratulations to our team of employee benefits experts and thanks to our clients for the recognition.”

The Richards Group’s Employee Benefits and Human Resources practice employs a ‘360 Degree’ strategy that focuses on employee benefits in the broadest sense of the phrase. We provide unique attention designed to meet each individual client’s needs and understand the challenges that HR leaders balance between maintaining a healthy workforce and fiscal responsibility. To that end, we provide clients with plan design and budgeting strategies, wellness expertise, leadership and training, robust technologies and compliance insights. We take a holistic approach to ensuring you have a healthy, engaged and dynamic workforce.

The Richards Group, headquartered in Brattleboro, Vermont, has provided local Insurance, Employee Benefits and Retirement Plan solutions to clients throughout Vermont, New Hampshire and Massachusetts since 1867. The firm currently has over 115 employees and was named one of the “Best Places to Work in Vermont” in each of the past 3 years by Vermont Business Magazine and the Vermont Chamber of Commerce.

The Richards Group to Acquire Centurion Insurance from Mascoma Bank

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The Richards Group is pleased to announce that it has reached an agreement to acquire Centurion Insurance Group from Mascoma Bank. The transaction will be completed in April of 2018. The Centurion office will remain at its current location while The Richards Group’s Norwich branch office, which has served Upper Valley clients for the past 10 years, will consolidate operations into Centurion’s office space. 

“We feel fortunate that the leadership of Mascoma Bank decided The Richards Group was the best fit to serve the needs of their insurance clients going forward,” said Drew Richards, Vice President of The Richards Group. “We’re thrilled to be part of the vibrant community in Hanover and to deepen the commitment we’ve made to the Upper Valley over the past decade.” 

“We are very pleased to be partnering with The Richards Group on this transaction,” commented Clay Adams, President & CEO of Mascoma Bank. “Both our customers and the Centurion employees will be well served working with the breadth and depth of their product offerings and expertise. Like Mascoma Bank, The Richards Group has a deep commitment to their communities, which they have dependably served for three generations. This acquisition allows them to strengthen their connections and service to the Upper Valley.” 

“Having spent the better part of my life in the Hanover community, this acquisition means a great deal to me and I’m excited with how The Richards Group is now positioned in the Upper Valley,” added Tom Scull, Vice President of The Richards Group. “With our expertise, technologies and service models, we bring outstanding capabilities to our local clients in the commercial and personal insurance, employee benefits consulting and retirement plan advisory areas. Our scale gives us access to the type of valuable resources and best practices you would typically find in a national firm, which we deliver through our local, high touch service model – it’s the best of both worlds. We’re excited to demonstrate this to our new clients.” 

“We appreciate our collaboration with Mascoma,” continued Scull “and we look forward to working closely with them going forward. We welcome the talented Centurion team to The Richards Group and look forward to helping them continue the excellent work they have done for clients.” 

Centurion will begin operating under The Richards Group name in the Spring of 2018. 

The Richards Group, headquartered in Brattleboro, Vermont, has provided local Insurance, Employee Benefits and Retirement Plan solutions to clients throughout Vermont, New Hampshire and Massachusetts since 1867. The firm currently has over 115 employees and was named one of the “Best Places to Work in Vermont” in each of the past 3 years by Vermont Business Magazine and the Vermont Chamber of Commerce.

Mascoma Bank, a mutually owned bank established in 1899, is headquartered in Lebanon, New Hampshire. The Bank has $1.7 billion in assets, 340 employees, and 26 locations throughout the Connecticut River Valley in New Hampshire and Vermont. Mutually owned and not for sale, the Bank has no stockholders to please. They are committed to remaining independent and to re-investing profits into the community. The bank has been serving the banking needs of the local community for generations by offering a full range of personal and business accounts and services.

The Richards Group Named One of the 2018 Best Places to Work in Vermont

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The Richards Group was recently named one of the 2018 Best Places to Work in Vermont, an award created by Vermont Business Magazine, the Vermont Chamber of Commerce, the Vermont Department of Economic Development, the Vermont Department of Labor, and the Society for Human Resource Management (SHRM) – Vermont State Council and Best Companies Group.

This statewide survey and awards program is designed to identify, recognize and honor the best places of employment in Vermont, benefiting the state's economy, its workforce and businesses.

“We’re proud to once again be acknowledged as one of the Best Places to Work in Vermont,” said Ben Taggard, VP of Wealth Management at The Richards Group.  “We have experienced strong growth, both organically and through acquisitions, and The Richards Group has created many new jobs throughout the region in recent years.  To be recognized speaks volumes about the culture that we all contribute to and the outstanding colleagues that we work with every day.”

“It’s valuable to have the survey and benchmarking data that this process provides,” added Peter Richards, VP of Commercial Insurance and Risk Management. “It shows where our strengths are as an employer and where we have opportunities to improve.  We know our success as a firm is based on our ability to attract and retain talented employees and this process provides good insight on how we can compete effectively in the job market.”

The Richards Group, headquartered in Brattleboro, Vermont, has provided local Insurance, Employee Benefits and Retirement Plan solutions to clients throughout Vermont, New Hampshire and Massachusetts since 1867.  TRG locations include Brattleboro, Bennington, Norwich, Middlebury, Rutland, Bellows Falls, Manchester, Burlington, Wilmington as well as Concord and Keene, NH.  For more information about the firm and our capabilities, please visit www.therichardsgrp.com.