Contract Machining for world-class OEMs
Pindel expands ICHRA medical benefit to reimburse Medicare premiums for full- and part-time employees, extending the careers of adv manufacturing professionals
— Bill Berrien, CEO Pindel Global Precision
MILWAUKEE, WISCONSIN, USA, February 13, 2023 /EINPresswire.com/ — Pindel Global Precision, a world-class contract manufacturing of precision machined components for global; customers, has expanded its innovative Individual Coverage HRA (ICHRA) medical benefit to reimburse for Medicare premiums for full- and part-time employees to extend the careers of advanced manufacturing professionals.
Pindel Global Precision is proud to announce the expansion of its innovative ICHRA medical plan to now include reimbursement for Medicare Part B for full- and part-time employees. This move is aimed at helping extend the careers of advanced manufacturing professionals by providing them with comprehensive health coverage options that meet their needs and budget.
The ICHRA medical plan is a flexible, cost-effective alternative to traditional group medical offerings, particularly relevant and appealing to small and medium-sized employers. ICHRA will allow businesses the alternative to offer employees and their families a monthly allowance of tax-free money which allows them to buy individual health coverage tailored to fit their unique needs, control costs, and address ACA compliance for applicable large employers.
Unlike group plans, which often have one-size-fits-all coverage options, the ICHRA allows businesses to tailor their health benefits to meet the unique needs of their employees. As well, the ICHRA model allows companies to control their budgets for their medical benefit. “We switched to the ICHRA medical insurance model in 2021 and wouldn’t go back to group medical insurance. It provides our team members with more insurance choice and lower costs for the employee (lower or no premium contribution by the employee compared with our prior experience with group medical) and the employer, The ICHRA model strikes me as the ideal insurance model for any employer with up to 250 employees”, says Bill Berrien, CEO of Pindel Global Precision.
By including Medicare Part B reimbursement in its ICHRA model, Pindel Global Precision is striving to be a highly appealing employer for advanced manufacturing professionals later in their careers. Continues Berrien, “We love that the ICHRA model, which offers the ability of the employer to create different ‘classes’ of employees to tailor offerings to employee needs, allows for reimbursement of Medicare premiums for both full-time and part-time employees. This offering is another way for us to extend the careers of our advanced manufacturing professionals and provide opportunities for them to continue to contribute professionally after age 65.”
The ICHRA medical benefit model, a new employer insurance which started in 2020, allows employees to choose and purchase their own individual, couple or family coverage from many offerings on the Healthcare Exchange and be reimbursed by the company according to a schedule which scales according to the employee’s age and the count of family members being covered (as insurance premiums on the exchange rise with an employee’s age and the number of family members covered). is especially beneficial to small and medium businesses, who often struggle to find affordable health coverage that fits their needs and budget.
Pindel Global Precision currently uses Diversified Benefits Solutions (https://www.dbsbenefits.com/) for the administration of its ICHRA plan and Todd Catlin of Transition Health Benefits as its individual medical benefits broker (https://www.transitionhealthbenefits.com/todd). For initial research into the ICHRA medical model and how it can benefit your business and employees, Take Command Health (takecommandhealth.com)) offers an excellent guide and FAQ to learn more about this type of insurance.
Pindel Global Precision, Inc. (veteran-owned, ISO 9001:2015- and ITAR- certified) is a dynamic and growing manufacturing company focused on providing custom, precision-machined components and assemblies to customers globally. We are intent on meeting customers’ most demanding standards for precision, capability, quality, and on-time delivery. We have a large number of advanced Swiss CNC turning machines, multi-axis CNC lathes and multi-axis CNC machining centers and multi-spindle screw machines with over 90,000 square feet of manufacturing and engineering space between two nearby plants in New Berlin, WI. We augment this capability with a deeply experienced manufacturing team, a comprehensive quality management system (AS9100D manufacturing through our subsidiary, Liberty Precision) and team and cutting-edge programming software that provide our customers with robust model-to-machine solutions.
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