InterLutions & VolCorp team up to provide superior CU employee healthcare
MUSKEGO, WI (February 22, 2018) — A recent partnership between InterLutions CUSO and Volunteer Corporate Credit Union (VolCorp) will result in more credit unions and their employees having access to I-Care, InterLutions’ innovative employee benefit solution that reduces costs, increases health plan flexibility, and enhances benefits. The new alliance will bring the revolutionary healthcare alternative to qualifying members of VolCorp.
“We understand the challenges our members are up against in the healthcare space, so we couldn’t be more excited to deliver a unique and competitive solution that helps change the course of rising employee benefit costs,” said Jeff Merry, President and CEO of VolCorp in Nashville, Tenn. “Since InterLutions’ innovative offerings and superior service levels align with VolCorp’s mission, we expect this partnership to bring immediate value to our members.”
The collaborative initiative pools risk to reduce health insurance costs. The expense reductions, along with big data analytics and consultative HR experts, have allowed credit unions to offer more competitive, enhanced benefit plans. Partnership with I-Care also gives credit unions the flexibility to choose from multiple networks, while allowing individual determination of plan design and structure to meet staff needs.
“Designed by credit unions for credit unions, I-Care has a proven track record of success. Our current participants are experiencing healthcare cost efficiencies they couldn’t achieve previously. Those cost reductions and efficiencies have allowed HR departments to offer better benefit packages at a lower cost to their employees,” said Jesse Kohl, InterLutions President. “We are thrilled about our partnership with VolCorp, as it will allow more credit unions to compete on the healthcare stage, giving them the edge in attracting and retaining quality staff.”
A credit union-driven initiative, I-Care provides affordable, sustainable benefit programs for credit unions with 50 or more participating employees. A minimum number of employees per group is typically required by insurance carriers in order to accommodate self-insured funding models, including the uniquely collaborative model developed by InterLutions. However, InterLutions and VolCorp share a long-term goal to expand availability of I-Care to credit unions of all sizes, as continued growth of the program will allow for both greater flexibility and accessibility.
Since its inception in 2015, the growing I-Care community now supplies benefit solutions to nearly 4,000 people nationwide. In addition to providing those solutions, I-Care offers HR departments healthcare support services via forums, conferences, workshops, and one-on-one consulting. It also organizes networking venues, where HR representatives can share insights to common benefit-management challenges.
“Whether credit unions are fully-insured or self-insured, I-Care provides them a one-of-a-kind healthcare alternative that uses big data analytics, risk-management strategies, and marketplace experience to formulate solutions that put credit unions on the leading edge of superior healthcare delivery,” Kohl said.
About InterLutions, LLC
InterLutions is a credit union service organization (CUSO) focused on providing innovative business solutions to advance the credit union movement. At its core, InterLutions believes in the idea that collaboration within the credit union industry will provide more reliable and cost-efficient ways to keep credit unions strong and healthy. Please visit InterLutionsCUSO.com to learn more and follow us on LinkedIn.
About Volunteer Corporate Credit Union
VolCorp is a not‐for‐profit financial cooperative that serves natural person credit unions nationally. Guided by a volunteer board of directors, VolCorp was organized for the express purpose of providing cost-efficient financial services and competitive investment lending rates to credit unions. Learn more at volcorp.org.