Fairfield Itex, a franchise that for 20 years has been dedicated primarily to cashless business transactions, has introduced its New England Itex Dental Plan to help small businesses in southern Connecticut get dental care for their employees.
A company can access the plan by activating a no-fee-to-join barter arrangement with Fairfield Itex. The company would then be positioned to barter its goods and services for trade dollars. The accumulated trade dollars can be exchanged for employee dental care.
A spokesman said the system is already up and running and has attracted clients.
“Employees earn trade dollars from their employer by having, for example, a perfect sick record, highest sales in the month or exceptional customer service,” Itex said in a statement. “Each firm decides its own policy for awarding trade dollars to staff. Participants then have their employer exchange the trade dollars for visits to a dentist in the Itex community.”
Hotel reservations, restaurants, luxury items and business services, along with the dentist visits, are part of what the company terms “the Fairfield Itex community.”
Plumbers, house painters, advertising agencies, electricians, auto repair services and printers are among the businesses offering services to Fairfield Itex members for trade dollars, the company said.
“As a result of health care cuts, which were too costly to casually replace, many wage earners have ended up with no dental coverage at all,” said Jay Mininberg, broker and co-owner of Fairfield Itex, in a statement. “We launched (the New England Itex Dental Plan) to help business owners assist employees in need.”
Fairfield Itex said it has 1,600 members using annual trade dollars topping $17 million. Its website is Fairfield.Itex.com.