The North American Trailer Dealers Association (NATDA), through a partnership with Meridio and enhancedcareMD, recently unveiled a new health and wellness benefit plan – the Enhanced Wellness Program – now available to all NATDA members.
Many employers face difficulties in providing health coverage to employees due to rising costs, often resulting in a loss of valuable members of the industry. NATDA says the new Enhanced Wellness Program will backstop traditional healthcare coverage with cost-effective care plans and supplemental insurance policies at no cost to the employer.
“Average deductibles in employer plans more than doubled from 2008 to 2017, from $869 to $1,808,” said one Meridio representative. “The Enhanced Wellness Program tackles the benefits challenge by providing comprehensive health and wellness while providing FICA savings to participants.”
NATDA’s Enhanced Wellness Program provides:
- Care Essentials such as wellness services, ACA-compliant health coverage and dental plans
- Health Risk Plans for accident, critical illness and hospitality indemnity
- Life Risk Plans with both disability and life insurance options
The program, which is an IRS Medical Expense Reimbursement Program and Qualified Section 125 plan, also provides telehealth, telemedicine and wellness education at a $0 co-pay, results in employers netting close to $500 in FICA savings, and contributes close to $150 to participating employees in after-tax monthly benefit reimbursement dollars.
“Employers in the industry are often faced with high workforce turnover because many can’t afford a robust benefits package,” said NATDA executive director Jesse Battle. “This is an inexpensive yet effective way to incentivize longevity.”
The new program is part of the association’s renewed focus in providing impactful benefits, especially after the difficulties many still face because of COVID-19.
For interested employers, Meridio and enhancedcareMD will review the new program during the 2020 Virtual NATDA Trailer Show from October 26 – November 13, 2020.