Iowa-based Holmes Murphy has expanded Main Street, its captive insurance subsidiary built to give small businesses the same buying power as big corporations, to include businesses with 10 to 50 employees.
Since its inception in 2014, Main Street has helped 14 Nebraska businesses develop their own insurance solutions and looks to continue this trend with this new expansion.
Main Street was created to help small- and medium-sized businesses find a manageable solution to their health insurance. Initially available to businesses with more than 50 employees, Main Street alleviates the risk and cost of a self-insured plan.
Beau Reid, senior vice president of Employee Benefits at Holmes Murphy in Omaha, stated that the expansion “even more small businesses greater control over their health insurance costs.”
Through Main Street, 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, the company said. This expansion demonstrates Holmes Murphy’s innovative approach in helping small businesses navigate the complex healthcare market.
Source: Holmes Murphy
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