GREENSBORO, N.C./MILWAUKEE, Wis., – Vizo Financial Corporate Credit Union and InterLutions, a CUSO of Corporate Central CU, said they are partnering to provide Vizo Financial member CUs with access to expanded healthcare offerings through InterLutions’ I-Care solution.
I-Care provides “innovative employee benefit solution that reduces costs, increases health plan flexibility and enhances benefits,” InterLutions said.
“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 Rodney May, chief engagement officer for Vizo Financial. “Since InterLutions’ innovative offerings and superior service levels align with Vizo Financial’s own values and mission, we expect this partnership to bring immediate value to our members.”
Leverages Buying Power
According to the two organizations, the collaborative initiative pools risk and leverages credit union buying power 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, the companies stated.
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, Vizo and InterLutions added.
“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, president of InterLutions. “We are thrilled about our partnership with Vizo Financial, as it will allow more credit unions to compete on the healthcare stage, giving them the edge in attracting and retaining quality staff.”
More Than 5,000 Participating
According to InterLutions, Since its inception in 2015, I-Care community now supplies benefit solutions to more than 5,000 people, and also offers HR departments healthcare support services via forums, conferences, workshops and one-on-one consulting. The CUSO also hosts in-person and digital HR networking forums, where credit union 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.