Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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Amalgamated and Trustmark In the competitive world of insurance, Amalgamated and Trustmark are two of the leading choices for your insurance needs.

They have the experience in their areas of expertise. To figure out which one can best meet your needs you should look at products, focus, availability and premium rates.

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Amalgamated Life calls itself America’s Labor Insurance Company and has a strong history of collective bargaining with groups like unions and trust funds. Life insurance is one of their specialties, and they have offered products like disability and medical stop loss for years.

Trustmark also works with employer groups, often smaller ones, and individuals. However, their emphasis is on health insurance. However, they also offer life insurance and a wide variety of other products and services as outlines below.

Amalgamated Life Insurance Company

This is a well rated provider by independent groups life A.M.Best and Ward’s.

Amalgamated has earned 36 “A” (Excellent) ratings from A.M. Best Company and were named to Ward’s 50 in 2012.

The customer service team located in the U.S. and includes a diverse group of representatives that speak many different languages. Customer service is enhanced by Web provider portal for easy access to claims. Finally, since this offers ateam of brokers and consultants to give professional advice in helping organizations build more sound benefits programs for their workers.

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Group Term Life Insurance

The group term life insurance policy may best represent what Amalgamated does best. They offer employers an affordable way to offer life insurance to a larger group of employees. This covers all active, working members. Some of its main features its flexibility in

Amalgamated Life Insurance Versus the Trustmark Life Insurance Company

choosing a benefit amount and the a convert the term policy to an individual permanent policy without the need for medical underwriting. Groups can also obtain rated contracts based on age groups

To support their life insurance policies Amalgamated has optional, or voluntary, coverage selections that workers can use to meet extra needs. These are dependent life, retiree life and supplemental life. For anyone with loved ones who are dependent on them this coverage can bring great peace of mind.

Another popular, voluntary product is Accidental Death and Dismemberment (AD&D) which helps provide additional financial security in the event of an accident related severe injury, paralysis, or death, on or off the job. This is available with group term life policies only.

Other Voluntary Insurance Products:

  • Workers Life Plus
  • Workers Life Level
  • Critical Illness Protection
  • Short and Long-Term Disability
  • Employee Life Option (ELO)

According to the company website, the company is in the process of adding voluntary dental, vision and accident insurance.

Another area where Amalgamated has made a name for itself is by offering support to the employers and unions they work with.

One of the really important forms of business insurance they offer is medical stop-loss insurance. This is what protects and employer that provides benefits if the claims are excessively high.

Amalgamated Medical Stop Loss Policies:

  • Are written directly
  • Offers quick responses to all Requests for Proposals (RFPs), and discount high performance PPOs, medical management services and TPAs
  • Directly writes their stop-loss policies and quickly responds to all Requests for Proposals (RFPs), and discount high performance PPOs, medical management services and TPAs
  • Provide timely disclosure decisions and offer discounts for multiproduct sales
  • Provide top-of-the-line claims management and medical management capabilities
  • Are URAC accredited
  • Offer specific and aggregate policies

Amalgamated Life Versus Trustmark Insurance Company

In addition, Amalgamated offers a bevy of administrative services to its clients. These include health & pension administration, printing & fulfillment services, medical management, mainframe computer services and support, and benefits communication programs.

The company is affiliated with several providers that allow them to provider these services. These include: Alicare, Inc. Alicare Medical Management, Inc., Alicomp, AliGraphics and the Amalgamated Agency.

Retiree and Pension Plan Support

An important part of Amalgamated’s services is the work it does with pension funds. They work with following pension funds:

  • Workers United [formerly the] Textile Workers Pension
  • UNITE HERE National Retirement
  • Amalgamated Insurance
  • Amalgamated Retail Retirement
  • Laundry Dry Cleaning Workers and Allied Industries Retirement

For the ease of their retirees they mail checks for retirement plan benefits on the first day of every month; they also have a direct deposit program.

To make work simple for administrators they handle many day-to-day pension plan inquiries, including forms to change beneficiaries, address and banks. They also provide letters to verify pension, forms to request a 1099 adeath benefits for both retired and active members.

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Community Involvement

Amalgamated Life Insurance Company vs Trustmark Insurance Providers

Amalgamated strives to make a positive difference in their employee’s communities by supporting several different charitable organizations and causes. They sponsor several annual community based events and encourage their employees to volunteer.

Their Charities Committee meets on a regular basis and has voluntarily assisted the children of deceased employees.

It also hosts several yearly events to continue aiding these children, to assist New York’s homeless children, and hold yearly toy, coat and food drives. They support breast cancer walks, food drives, blood drives, and relief funds such as those created for Hurricane Katrina victims and tsunami victims.

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Trustmark Insurance Company

According to Bloomberg Businessweek, this company struggled at one point, but turned things around dramatically and is doing well. You can read the details here.

For the past 100 years providing competitive benefits to employer groups, while maintaining competitive pricing. In 2011 A.M.Best affirmed the company’s “A” rating for financial strength. This is a mutual insurance holding company operated for the benefit of its policyholders.

It provides a vast array of services to employer groups, brokers and individuals through multiple subsidiaries and divisions. Services include health insurance, critical illness and accident insurance, benefits administration, dental, medical, disability, life, and managed care.

Benefits administration is at the core of what Trustmark provides through CoreSource, Inc, a subsidiary. As proof of their standing in the industry, Business Magazine ranked them nationally for their third-party administrators for employee benefits. The design customized employee benefits plans for employers who elect to self-fund.

Currently, Trustmark services 1.4 million members and dependents all across the nation through nine regional offices.

They work with over 50 managed care networks. To support all this they also own two other third-party administrators: FMH CoreSource in Kansas and NGS CoreSource in Michigan.

The list of other products and services that Trustmark provides is impressive:

  • Amalgamated Life vs Trustmark Insurance Company

    YourCare Total Population Management

  • Pharmacy program
  • Services for subrogation issues
  • Repricing for claims made out of your network
  • Top claims abuse and healthcare fraud management services
  • Consumer-directed plans and administration
  • Retiree benefits administration
  • Billing system that consolidates premiums and simplifies benefits administration
  • URAC-accredited management of healthcare
  • Comprehensive reporting on performance of plans

Trustmark’s Group Health Insurance

Through Starmark the company rovides customized healthcare benefits to small companies and their employees. They administer both fully insured and self-funded plans. Their Ancillary Plans include:

  • Critical Illness
  • Dental Plans
  • Long-Term Disability Plans
  • Life/AD&D and Short-Term Disability Plans

They provide a number of health and wellness services. One is HealthCenter which is an interactive personal health management system. To enhance communication, self-care and prevention they offer E-Newsletter. This provides articles on topics such as safety, exercise, nutrition, alternative medicine, etc.

Amalgamated versus Trustmark Life Insurance for Health

YourCare is an outreach program promoting wellness and intervention, encouraging members and reminding them to be proactive about screenings and preventative tests. The Maternity Wellness Program helps expectant mothers be proactive in their infant’s health through education materials and resources regarding pregnancy, childbirth and newborn care.

This voluntary and confidential program is available to all members at no additional cost. Finally, MyNurse 24/7 provides around-the-clock access to registered nurses by phone, email, or online chat sessions.

Some additional Trustmark benefits include pharmacy benefits and programs to assist members with obtaining discounts on such services as COBRA, hospital bills, vision care and laboratory testing.

Life Insurance with Trustmark

Clearly, the focus of Trustmark is in the health and administration realm. However, they do offer life insurance under their voluntary benefits option. Like Amalgamated, they also offer medical stop loss to employers to cover excessive costs. While life insurance does not seem to be a main focus of this provider, it may make sense for companies using them for health insurance to use them for life insurance coverage too.

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Additional Subsidiaries of Trustmark

  • Trustmark Individual Medical assists with locating physicians and hospitals, processing claims, and policyowner services
  • Amalgamated Life vs Trustmark Life Insurance Subsidiaries

    Trustmark Voluntary Benefits Solution specializes in voluntary benefits

  • Trustmark Companies are actively involved in the proper implementation of the latest healthcare reform legislation
  • Trustmark Life Insurance Company provides stop-loss insurance.
  • Trustmark Group Benefits, offers group health insurance for businesses with 50 or more employees
  • Trustmark Disability Advisors specialize in exceptional disability claim management and assisting claimants in promptly returning to work

With decades of experience behind them, top ratings in their profession, financial security, and a humanitarian side, Amalgamated and Trustmark are the go-to companies for every imaginable insurance need.

Whether you are an individual, a company, or a retiree, they will assist you with your insurance needs. However, Amalgamated seems to reign when life insurance is the priority for collective bargaining groups. Trustmark seems to rule in the administration of health insurance benefits.

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