As per the National Association of Manufacturers (NAM) Outlook Survey, various manufacturers have to face the challenge of the growing cost of health care. Across the manufacturing industry providing healthcare benefits is important to employees. Almost 98% of the members in the NAM community ensure that they provide health insurance to employees. Because this is a part of the normal process ensuring the safety of employees and families.
As per the new health care mandate, various challenges are continuously overshadowing the employers providing individually funded health care revolution as they help in managing the costs. As various company owners have a tradition of providing health care to employees various manufacturers are anxious to identify ways for reducing health care costs and strengthen the employee and employer bond.
ERISA (Employee Retirement Income Security Act) 1974
It causes the generation of the vehicle of ERISA designs that are innovative, unique effects. These designs also are extremely flexible. However, this will work only if permission is given for various health care innovations. Presently, employers are avoiding more regulations. Manufacturers are also looking for ways that ensure growth, health, and sharing of success with employees.
Currently, Oklahoma is working on a fresh law that will impact the coverage benefits of employees. It will be requiring an open platform for various pharmacy networks. Various other plans not including the pharmacy benefits from Oklahoma will need to cover so as to maintain employee satisfaction.
HB 2632 and S 841 are currently representing an irrational approach. The NAM is agreeing with the State Chamber of Oklahoma and is urging various legislators to consider the various impacts of other health care rules levied by various employers and employees.
Providing healthcare benefits is an important part of employee satisfaction. Healthcare benefits of employee and family members ensure that the employees are motivated and committed towards the work.