MANUFACTURERS ASSESS HEALTH CARE SPENDING
Manufacturers have three objectives when contemplating health care policy: controlling costs, expanding coverage options, and getting access to better information,according to the National Association of Manufacturers.
A new NAM white paper on health care spending has good news but also a warning for employers and policymakers. While some 92 percent of manufacturing-sector workers are eligible to participate in company-offered insurance, U.S. manufacturers need flexible options to slow cost growth, the NAM said.
The average annual cost for a family plan in the manufacturing sector has jumped 50 percent in less than a decade, according to the white paper that cites Kaiser Family Foundation figures. If the pace continues, by 2025 the average annual cost of a family health insurance plan could reach $34,776.
To help save billions over the next decade, the NAM says it supports eliminating the medical device tax and the employee benefits tax, and reducing employer reporting requirements. More flexibility is needed by allowing and easing access to defined-contribution models and hybrid ownership of plans to encourage employers to contribute to the cost of insuring their employees at an amount that is sustainable for the employer and predictable for the employee.
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