Credit unions flocking to CU Benefits Alliance for cost savings
PLANO, TX (July 19, 2018) — CU Benefits Alliance LLC (“CU Benefits”), an employee benefits consulting firm exclusively serving the credit union community, is on a mission to reduce the cost of healthcare.
Credit unions now have the ability to stop one of the biggest cash flow leaks in their organization. The average 100 employee credit union is spending $236,375 more per year than they should for health benefits. Credit union leaders are often considered innovators in the financial services world. But, when it comes to managing one of their top three expenses (employee benefits), they have generally chosen to accept the status quo.
Dozens of credit unions have joined CU Benefits Alliance to gain access to preferred pricing for their group health coverage. The program offers the flexibility of level-funded group health coverage with the key features of cost containment, integrated wellness, care coordination, and disease management. It provides a more strategic approach to managing healthcare costs while still providing employees great benefits.
- Premium savings averaging 15% from traditional health insurance plans
- Integrated wellness incentives and cash-rewards for employees and their families
- Lower individual deductibles with a $500 deductible credit available to wellness participants
- 24/7/365 telemedicine, outpatient lab, diabetic supplies and Rx benefits included
Unfortunately, most employers have accepted the status quo and believe if their renewal comes in below healthcare trend, they are getting a good deal. They are budgeting for 6-10% increases annually. But, for those who have joined the CU Benefits Alliance program, the results have been amazing. The average 100 employee credit union has generated over $1 million in cost reduction over five years.
Through the new Interest Credit Union Benefits program, credit unions can take advantage of economies of scale pricing for their group health program. It goes beyond traditional group health products for a more strategic approach to managing healthcare costs — one that addresses employee health behaviors while still providing great benefits. Available in 38 states.
About CU Benefits Alliance LLC
CU Benefits Alliance’s mission is to change the way credit unions manage employee healthcare. Credit union leaders need a seamless, transparent platform where employees can access the best healthcare at an affordable cost. The CU Benefits Alliance strategies help further their commitment to the financial well-being and success of their credit union partners. For more information, visit www.cuBenefitsAlliance.com.