Pooled Approach to Healthcare Coverage

by Mike Hunter

The Main Street program that Holmes Murphy started in 2014 to offer captive insurance programs for businesses with more than 50 employees was expanded earlier this year to target small businesses with 10–50 employees. The new program is not, actually, a captive but it works similarly to the original program by pooling together businesses to offer the best possible rates. 

Main Street is geared toward small companies that aren’t provided the same type of cost containment strategies many larger companies have available. Businesses are aggregated together to form a healthy risk pool, allowing rates to decrease and creating increased buying power for businesses. “We’ve seen great success with the Main Street program in Nebraska and hope to continue that success while helping small businesses in other states,” says Beau Reid, senior vice president of Employee Benefits at Holmes Murphy in Omaha. Scottsdale is one of three new markets Holmes Murphy recently added for its Main Street program, and the company has plans to expand the program nationwide later this year.   

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