Multi-employer plan

A multi-employer plan is a type of employee benefit plan that provides healthcare and other benefits to employees from multiple employers who are typically in the same industry or trade union. These plans are collectively bargained agreements between employers and labor unions and are designed to pool resources and spread risk across participating employers. Multi-employer plans offer benefits such as health insurance, retirement plans, and other ancillary benefits to covered employees and their families. They provide a way for smaller employers to offer competitive benefits to their employees without bearing the full financial burden alone. Multi-employer plans can offer economies of scale, increased negotiating power with insurance providers, and stability in coverage for participating employees even if they change employers within the same industry.