Health Insurance
Metalworking Associations Form Health Insurance Trust
Five metalworking trade associations have taken an unprecedented action by forming a joint Insurance Trust (Metalworking Manufacturing Coalition (MMC) Trust) to offer a common health & dental employee benefits program exclusively to their collective memberships.
Partnering with Trustmark Affinity Markets, the associations will now be able to pool the claims experience of more than 1,600 member companies to better control the rise in insurance premiums for participating members over the life of the program.
“Finding and keeping good employees can be difficult for any small business, but it can be an enormous problem for many manufacturers still operating in the U.S. today,” said Jim Mallory, Executive Director of the Non-Ferrous Founders’ Society.
“Paying competitive wages is just one part of an employee’s total compensation. A recent study by the National Association of Manufacturers (NAM) concluded that the sharp rise in non-wage costs represents a significant and long-term problem for our nation’s manufacturers and America’s economy. Chief among the increases that manufacturers have faced in recent years is the skyrocketing cost of healthcare.”
The five associations are: the Industrial Fasteners Institute; the Forging Industry Association; the Non-Ferrous Founders’ Society; the Precision Metalforming Association; and the Spring Manufacturers’ Institute.
Trustmark Affinity Markets is part of Trustmark Companies, with nearly 100 years in the insurance industry and more than 50 years as a leader in servicing associations and other affiliated organizations. Together, they have formed the Metalworking Manufacturing Coalition (MMC) Trust.
The MMC Health & Life Trust Plan offers a range of choices for participating member firms, their employees and families.
Some of the coverage options the plan offers include:
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PPO Plan – Trustmark’s PPO offers flexible options to choose different deductible and coinsurance levels. Employees can choose any caregiver or facility, but typically pay less when services are rendered inside the extensive PPO Network.
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Health Savings Accounts (HSA) – HSAs offer an innovative marketplace solution to the problem of rising healthcare costs by placing the insured employee more closely in charge of healthcare spending.
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Prescription Drug Benefit – Trustmark’s selected pharmacy management partner has more than 57,000 network pharmacies nationwide, including both national chain stores and independent pharmacies. In addition, PrecisionRx mail service pharmacy delivers medication to over 1 million patients nationwide.
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Extra Benefits – Dental is one of the most frequently requested member benefits and can easily be added to a company’s coverage plan. Trustmark’s plan offers the cost advantages of a PPO with the freedom to choose any dentist. Life and Accidental Death & Dismemberment coverages are also available to complement medical coverage.
Membership in good standing in one of the five associations is required in order for a metalworking company to participate in the MMC Insurance Plan.
For
additional information on the coverage options is available by contacting George Michelic at Trustmark Affinity Markets.
Information on their respective membership eligibility requirements, costs, and benefits can be obtained from each of the associations.
