Holmes Murphy Expands Main Street Program
Holmes Murphy recently expanded Main Street, a captive insurance subsidiary built to give small businesses the same buying power as big corporations. Main Street was originally started in 2014, to offer insurance programs for businesses with more than 50 employees. This new, expanded initiative, while not a captive, targets employers with between 10 and 50 employees that are pooled together to offer the best rates. Since its inception, Main Street has helped 14 Nebraska businesses develop their own insurance solutions and looks to continue this trend with this new expansion.
Main Street is a family of insurance programs geared towards Main Street America or small companies that aren’t provided the type of innovation and cost containment strategies available to larger companies. Main Street was created to help small and medium-sized businesses find a manageable solution to their health insurance, helping alleviate the risk and cost of a self-insured plan.
“In Nebraska, I hear from businesses daily that have been dumped into community rates, limiting their options to control spending,” commented Beau Reid, Senior Vice President of Employee Benefits at Holmes Murphy in Omaha. “I’m excited for the expansion of Main Street to include businesses with 10-50 employees. This allows even more small businesses greater control over their health insurance costs.”
Main Street is a smarter way to take control of health insurance expenditures. Since Main Street launched, businesses are able to aggregate together to form a healthy risk pool and rates are lower than anywhere else in the market, creating increased buying power for businesses. This expansion demonstrates Holmes Murphy’s innovative approach in helping small businesses navigate the complex healthcare market. Main Street is set to expand to the Des Moines, Denver, and Phoenix markets this summer before expanding nation-wide later this year.
For more information, visit mainstreet.holmesmurphy.com.