The Independent Truck Repair Group (iTRG) has partnered with an insurance company to create a national insurance program for iTRG members. The industry association plans to roll out the program nationwide before the end of the year.
According to John Stoeckinger, president of iTRG, the rising cost of insurance plans drove the association to take action.
“The Independent Truck Repair Group was formed to help independent truck repair shop owners to build and sustain thriving businesses. Our members have reported approximately 20 percent or more increases in workers’ compensation and payroll, so we decided to use our collective power to negotiate for better coverage, for a better price,” he says.
The association says it began the process of working with an insurance company to bring down the cost of payroll and workers’ compensation earlier this year. Independent truck repair shop owners will be able to sign up for the program beginning today.
“The sign-up process will be remarkably simple for our members,” Stoeckinger says. “The last administration created the opportunity for groups and associations to create their own insurance plans, and this policy remains in effect today. This allows independent repair shops to offer employees a national healthcare plan that is an alternative to the Affordable Care Act, known as Obamacare. As an association, we are using the power of our group to provide a captive, self-funded, national healthcare plan."
He adds, the plan will “empower independent truck repair shop owners to function as Fortune 500 businesses, offering attractive benefits to technicians. Our members will have access to benefits that had previously only been available to large corporations.”
The opt-in process for diesel and heavy-duty truck repair shop owners will be simple, iTRG says. Signing up for payroll and workers’ compensation insurance will allow shop owners to qualify for health benefits. Shops that opt into workers’ compensation, will find there is no charge for payroll. Shop owner members in states that do not have workers’ compensation available, will only need to sign up for payroll.
[RELATED: Obamacare and your business]
Additionally, Stoeckinger says this new national healthcare program has been designed from top to bottom to benefit independent truck repair shop owners.
“The offering allows iTRG members to customize their plans to qualify for benefits, all the while saving them approximately 15 percent on payroll, health insurance, and workers comp,” he says. “Owners will simply need to submit a copy of their current policy. From there, the approval process will take just 10 to 14 business days. Once approved, heavy-duty truck repair shop owners will be able to offer employee benefits to their current technicians, and those they are trying to recruit. We expect these benefits to be a huge recruitment and employee retention tool for shops looking to hire and keep experienced technicians.
“Independent truck repair shops no longer have to feel as if they are on an island alone, trying to make a profit, while providing the benefits they technicians need and deserve,” Stoeckinger adds. “At iTRG, we have used the power of our membership to negotiate for better coverage, better pricing, and better hiring incentives. We expect this new national healthcare program to be an enormous success for our members.”
To learn more visit https://indtrg.com/insurance/