MUSKEGO, Wis. – Interlutions has launched its first product, I-Care, which is designed to help credit unions manage the challenges of providing healthcare, including sustainable coverage for CUs with 50 or more covererd employees. The company is a CUSO of Corporate Central Credit Union and focuses on providing innovative business solutions.
“I-Care partners with credit unions to deliver an innovative group program to reduce the volatility and expense of health insurance by pooling risk,” the company said in a statement. The solution allows CUs to choose from multiple networks, while individually determining their plan design and structure to best meet the needs of their employees.
“I-Care was formed by credit unions, for credit unions, and is already providing value to our current participants through greater efficiencies, cost savings, and reduced risk,” according to Chris Felton, President of InterLutions.
“Moving to I-Care was transparent to our employees, seamless to HR, and helped to significantly reduce our health insurance costs,” commented David Powers, Chief Financial Officer of the $2.8 billion Landmark Credit Union. “I-Care offers a flexible credit union driven solution to help mitigate spiraling health care costs now and into the future. In working with I-Care we maintained total control over our plan design and were able to utilize the providers and networks we wanted,” remarked Powers.
According to Corporate Central, for credit unions that are fully insured or self-insured, the group medical program provides a unique alternative that combines analytics with various risk management strategies and significant savings.