An American cannabis risk management association has launched a health insurance program for the cannabis industry.
On Thursday, the National Cannabis Risk Management Association (NCRMA) announced the Health ReLeaf program.
According to the company, the new program leverages a different approach by funding known risks and insuring the unknown.
NCRMA says premiums and deductibles have risen faster than wages over the past ten years, resulting in the company partnering with My Benefit Advisor to launch the new health insurance program.
By launching Health ReLeaf, NCRMA says they are helping cannabis companies take control.
According to NCRMA, Health ReLeaf can help cannabis companies make the best decisions for their company and employees by knowing the health plan’s data and spending.
My Benefit Advisor Market Leader Brian McLaughlin says employers are aware of the challenges associated with health care spending.
“My Benefit Advisor is excited about the opportunity to partner with the NCRMA to give their members the chance to take control of their health care spending,” says McLaughlin. “The ReLeaf program gives employers the data and tools to manage costs while providing the employees the benefits they deserve.”
NCRMA says the health plans let businesses control outcomes and give employees the relief they want.
According to the company, the Health ReLeaf process integrates employee health assessment to identify known risks.
Offered solely to cannabis companies, NCRMA says Health Releaf provides full protection from volatile claims and can save businesses up to 20 percent within the first year by identifying known risks.
NCRMA Chairman Rocco Petrilli says talent optimization is one of the most significant risks that cannabis companies face.
“Locating and placing ‘the right people in the right places’ is the challenge of the moment,” says Petrilli. “Once this is accomplished, retaining these employees takes center stage. Health ReLeaf benefits will provide employees with the security of solid medical coverage and will work to keep this valuable workforce in place and productive.”
According to NCRMA, Health ReLeaf brokers can work as risk managers to identify claim reductions, high-cost specialty drugs, waste, and fraud.
NCRMA says the Health ReLeaf program helps cannabis businesses incorporate measures to reduce known risks through abuse prevention, general wellness promotion, and primary care utilization.
