Manufacturing companies often employ a diverse range of employees, including skilled workers, unskilled workers, engineers, administrative staff, etc. Offering group health insurance and benefit solutions for manufacturing companies can be a strategic decision that benefits both you as an employer and your employees, especially in an industry where injuries and health concerns can be detrimental to your overall success as an organization. We have found that manufacturing companies face many challenges when trying to offer a comprehensive and affordable benefits package to their employees. Whether you contract employees or have a full-time workforce of skilled laborers, the iSure team has experience overcoming your unique challenges.
One of those challenges that we often encounter is that employees may not fully understand the benefits available to them, leading to underutilization or dissatisfaction with the plans. Proper communication and education about the available benefits is crucial for employee satisfaction and engagement. It’s common that lower-income earning employees decline the group benefits and opt to obtain a subsidy from healthcare.gov (or a state-based health insurance exchange.) This not only creates a participation issue but it also can pose several risks and potential consequences that both the employee and you as an employer should be aware of, including but not limited to, a clawback of premium assistance when taxes are filed by the employee.
The iSure team can help you navigate these challenges by educating your employees and helping them make informed choices that align with their healthcare needs and financial circumstances. We also make sure that you are aware of regulations pertaining to offering group insurance to help avoid potential penalties or fines. Get a quote for manufacturers’ group health insurance today.