Thrasher goes from 200 to 800 employees, keeps benefits costs nearly flat

Rapid growth creates opportunity. It also creates complexity, particularly in the human resources and employee benefits functions.

For Thrasher, a leading provider of foundation repair, basement waterproofing, and concrete repair, growth has been a defining characteristic of the business over the past six years. Through a combination of acquisitions and organic expansion, the company has grown from approximately 200 employees and four locations in 2020 to more than 800 employees and 10 locations today, with additional growth already on the horizon.

Reconciling high growth with a productive, positive employee benefits experience naturally raises the question: How do you scale employee benefits, control costs and maintain employee health without slowing the business?

For Thrasher, the answer has been a partnership with TrueNorth.

Since 2020, the two organizations have worked together to develop a benefits strategy that supports rapid growth, improves financial visibility and helps leadership make more informed decisions for its people.

“We were looking for a strategic partner,” said Kari Yost, Vice President of Human Resources at Thrasher. “We wanted someone who would challenge us, bring new ideas, help us think creatively, and understand where our business was headed, not just where it was today. TrueNorth has cared more from the very beginning, and it shows.”

Preparing for growth, not just renewal season

Thrasher leaders wanted greater transparency into healthcare spending and more proactive guidance around managing costs, insights it wasn’t receiving from a previous benefits broker.

Investing millions of dollars annually in employee benefits, the company felt that many decisions were too reactive. Benefit costs increased each year automatically, but no significant action was taken to mitigate them. The lack of innovation and long-term planning was concerning.

“We wanted to understand where our money was going, what was driving costs, and what opportunities existed to improve the plan for both the company and our employees,” Yost said. “We just didn’t have a good feel for that at the time.”

TrueNorth’s approach has been a welcome change.

Rather than focusing solely on annual renewals, TrueNorth worked with Thrasher to better understand its growth strategy, workforce demographics, acquisition plans, and long-term objectives. The result was a shift from managing benefits as an annual event to treating them as an ongoing business strategy.

“TrueNorth has consistently brought us new ideas and challenged us on a few levels. They’ve learned about our business, our people, and have asked the right questions, to keep us in front of the curve on benefits design and cost control, rather than chasing it.” — Kari Yost, Vice President of Human Resources

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Benefits consulting that supports acquisition and growth

As Thrasher has expanded through acquisitions and organic growth, employee benefits have become a critical part of the integration process.

To facilitate integration, TrueNorth evaluates existing programs, identifies opportunities for improvement, and develops transition strategies that balance employee expectations with long-term financial sustainability. The process has transformed employee benefits from a potential obstacle into a platform that supports growth.

Thrasher and TrueNorth have also explored numerous initiatives over the years, including plan design changes, specialty pharmacy programs, and strategies for managing high-cost claims. One recent specialty drug initiative generated $155,000 in savings for both the company and participating employees during its first quarter alone.

Total savings for the year are projected at $620,000.

“We want to stay on the leading edge, but we don’t want to be guinea pigs,” Yost said. “TrueNorth does a great job bringing us options and helping us evaluate opportunities, so we can understand the risks and make informed decisions.”

That balance between innovation and practicality has helped Thrasher maintain strong financial oversight while offering competitive benefits packages that support employees and their families.

A partner for leadership and employees

While strategy drives the relationship, day-to-day support remains equally important.

Whether navigating a complicated claim, resolving a coverage issue, or helping an employee through a difficult situation, TrueNorth serves as an extension of Thrasher’s HR team.

Yost recalls a recent situation involving an employee whose son suffered a serious injury requiring surgery. A coverage issue threatened to delay treatment. The TrueNorth team worked directly with providers and the carrier to help resolve the issue and keep care moving forward.

“TrueNorth is always ready and responsive,” Yost said. “That peace of mind is incredibly valuable.”

The same partnership and responsiveness extend to important management tasks such as monthly performance reporting, renewal planning, and new vendor evaluations.

Win-win: Nearly flat total costs and almost 13% reduction in health claims

TrueNorth’s active management has helped Thrasher reduce health claims by 12.7% over the last three years and 4.1% over the last five years.

With employer health insurance premiums increasing 6% to 10% on average annually nationwide, according to the Kaiser Family Foundation’s 2025 Employer Health Benefits Survey, Thrasher has limited its cost-per-employee increase to just 1% over the past five years.

In addition, Thrasher has grown its workforce more than fourfold, expanding into new markets and integrating multiple businesses along the way.

Perhaps most importantly, Thrasher now operates with greater confidence and visibility. Renewal discussions have become more predictable, and better data and deeper insights support strategic decisions.

“There’s a high level of trust with TrueNorth that’s helpful on many levels. We know we’re getting solid information, we’re making better decisions, and we have a partner that’s helping us stay ahead of what’s coming next.” — Kari Yost, Vice President of Human Resources

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*Individual client experiences may vary. National average cited from the Kaiser Family Foundation's 2025 Employer Health Benefits Survey.