The American Short Line and Regional Railroad Association (ASLRRA) is offering a new health insurance program for its member companies with 20 or more employees.
HUB International, an ASLRRA member and insurance broker, created the program to help address rising costs.
“We are continually exploring ways to address business challenges that face our short line railroad and supplier members,” ASLRRA President Chuck Baker said. “Many, if not most, small businesses across America are finding it increasingly difficult to provide affordable healthcare as part of an employee benefit package. This is of course also true in the short line industry.”
The self-funded Coalition Health Plan allows companies to manage their costs. It is said to “provide an affordable rate by pooling premiums from a number of companies, which serves to spread risk among a larger pool of employees.” In addition, “savings resulting from improved population health and more efficient spending go back to the participating company. Cash flow can improve as reserves previously held by the insurer against pending claims are now under the employer’s control.”