Take control of your health benefits spend and say goodbye to costly renewals and turnover for your transportation company
ON DEMAND WEBINAR
Duration: 27 minutes
It’s never been harder to be in the transportation business. The shrinking margins in a historically commoditized service industry have been compounded by inflation and market changes. A driver shortage prompted by an aging workforce has led the ATA to estimate that the transportation industry needs to recruit one million drivers in the next decade to meet demand. With a turnover rate averaging at 94% the past few years, it’s impossible not to grapple with the short- and long-term challenges that these factors bring.
For transportation companies that offer health benefits to boost their recruitment and retention, it’s cost prohibitive, uncontrollable and doesn’t play well with the variety of employee types that comprise the workforce that comprises the transportation, trucking, logistics, and warehousing industries. This doesn’t come as a surprise, with 2024 healthcare costs taking their biggest jump in years, according to the Wall Street Journal.
If you’re like many transportation company leaders, each year you stand powerless as your group health insurance delivers another high renewal. Double digit increases year over year aren’t sustainable for any company no matter the size, so many transportation companies begin to increase employee contributions, switch to less comprehensive options, or raise deductibles—hardly the consumer-friendly solution we would hope for. For years, leaders in the transportation industry have asked why they can’t just give a stipend to employees and have them buy their own health insurance. Now they can.
In this session, learn about a new benefits trend that’s delivering cost control and flexibility to the hospitality industry and choice and personalization to its employees.
Key takeaways
- Learn why the transportation industry is leading a new benefits trend built on cost control and choice
- Learn how ICHRAs work
- Hear real life stories from other trucking, warehousing, logistics and transportation companies on cost savings switching from group insurance
- Determine if your company is a fit for ICHRA
SPEAKER
SVP, Partnerships and Policy
Take Command
