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I-Care Proves Collaboration is Key to Lowering Healthcare Costs

MILWAUKEE, WI – August 20, 2020 – I-Care, a collaborative employee benefits program for credit unions, recently released the renewal numbers for its Association Health Plan members. All credit union participants will receive a flat renewal for 2021, meaning there will be no price increases for the upcoming plan year. The CUSO delivering the solution to credit unions, InterLutions, believes the positive news derives from one key component – collaboration amongst an industry that consistently performs better than other employer groups, from a medical insurance claims perspective. The good news for I-Care participants follows a year where credit unions experienced an average cost savings of 12% by switching to the Association Health Plan.

I-Care credit unions experienced an average cost savings of 12%25 by switching to the Association Health Plan

“Our actuarial teams and claims management specialists continually review the vast amounts of data analytics from several years’ worth of credit union employee health claims and we have discovered that credit union employees perform 23% better than all other industries, on a per employee per year (PEPY) claims basis,” stated Jesse Kohl, President of InterLutions. “Our collaborative benefits solution leverages that data and drives down costs so credit unions can deliver better benefits to their employees, with less cost and lower risk.”

The CUSO launched I-Care in 2015, initially offering a unique self-funded insurance model, allowing large credit union participants to purchase medical insurance through an exclusive “credit union only” pool, ultimately reducing the overall cost and risk associated with high cost medical claims. In 2019, InterLutions launched its I-Care Association Health Plan, which is a similar pooled solution, but designed for credit unions of a variety of shapes and sizes.

“The 10-year rising trajectory for healthcare costs is shocking,” Kohl added. “I-Care continues to prove that credit unions are better off collaborating to lower their insurance costs, enhance their benefit plans, and retain their key employees.”

Interested credit unions can watch I-Care informational and testimonial videos for more information.