Business owners are noticing that industry specific trust plans bring many benefits to employees and employers. Trusts are effective because they pool multiple employers together to gain better negotiating power with the insurance carriers in order to get the best coverage for the best price.
Healthcare premiums continue to increase exponentially year-after-year, which is why trusts have become a preferable option for some employers. An increasing number of manufacturing companies, specifically in California, are choosing to enroll in exclusive trust plans instead of traditional insurance carriers because of the many perks that the trust provides the company.
Benefits Of Joining A Trust Plan
Manufacturing companies in California that choose to enroll in an industry specific trust plan, exclusively offered by New City Insurance, are able to gain access to unique competitive markets for health insurance, workers’ compensation, liability insurance, and much more.
Employers that choose to join this exclusive trust plan are able to offer competitive HMO and PPO medical plans, dental insurance, vision insurance, and group life insurance to their employees at a reduced rate.
In addition to the competitive rates and plan flexibility that the trust provides, covered individuals will not have to wait as long to get their inquiries answered about their coverage compared to traditional insurance carriers. This is because the trust has their own support center, which frees up time to answer any questions and helps reduce stress.
This exclusive manufacturing trust aligns itself with the strategies that the Affordable Care Act has in providing individuals with expanded coverage at an affordable price while satisfying all of the compliance requirements.
Since the trust pools multiple employers together, the risk to the insurance carrier is much lower, which enables employers to offer flexible and affordable health plans that an individual company would not be able to find elsewhere.
In addition to the numerous medical plans offered, the trust also offers various dental and vision options that can be offered as an indemnity plan, PPO, or DHMO. As the employer, you also have the option to choose whether you want to offer dental and vision coverage as an employer-paid plan or voluntary benefits where the employee pays for their own coverage.
On top of the exclusive health insurance competitive markets that the trust offers, many competitive commercial insurance options are available. Employers are able to insure their business with affordable commercial insurance that was specifically created for the manufacturing industry.
Types Of Insurance Offered
By joining this exclusive manufacturing industry trust through New City Insurance, employers will be able to offer their employees extensive benefits that may increase performance and attract top talent while saving on insurance premiums.
Types of Insurance offered to employees:
- HMO and PPO Medical Insurance through the trust
- Dental Insurance
- Vision Insurance
- Life Insurance
- Voluntary Benefits
- 401(k) and Profit Sharing plans
In addition to the benefits that the employees will receive, the business will also be able to enroll in affordable and competitive commercial coverage that is intended to protect its assets.
Types of Commercial Insurance offered to businesses:
- General Liability Insurance
- Cyber Liability
- Property Insurance
- Equipment Breakdown Insurance
- Workers’ Compensation
- Commercial Automobile Insurance
- Executive Liability Insurance
- Manufacturers Errors & Omissions Insurance
By choosing to enroll with this manufacturing industry exclusive trust through New City Insurance, both the employers and employees will benefit from lower premiums and flexible coverage.
Manufacturing companies will not be able to find the flexible coverage and reduced cost that this trust provides anywhere else, which is why an increasing number of manufacturing businesses are choosing to leave traditional insurance carriers for a trust plan, like the one New City Insurance exclusively offers.
Speak With A Professional Today About A Manufacturing Trust Plan
A competitive benefits package can improve employee production and attract top talent individuals to your business. Trust plans that offer great coverage for employees and businesses while reducing insurance premiums are heavily valued by manufacturing companies. For more information about the exclusive California Manufacturing Industry Insurance Trust Plan, contact a professional at New City Insurance today.