SOURCE: Risk Strategies Company

Risk Strategies Company

October 31, 2011 09:00 ET

Risk Strategies Company Offers Insurance Option for Mid-Market Credit Unions

Credit Union Health Benefits of America (CUHB) Plan Deflects Rising Healthcare Costs

SACRAMENTO, CA and BOSTON, MA--(Marketwire - Oct 31, 2011) - Risk Strategies Company (RSC) (www.risk-strategies.com), one of the top insurance brokers in the United States, is now offering the Credit Union Health Benefits of America (CUHB) Plan to credit unions nationwide seeking an alternative to traditional medical insurance.

CUHB is a self-funded medical plan with protection against large claims and a capped maximum annual liability for each credit union. Through this "group buying" arrangement, credit unions can collaborate on program offerings, direct service providers and save 10-15 percent (on average) on medical insurance costs.

Participants benefit from more cost effective claims handling, lower administrative expenses, broad provider network access, and financial transparency resulting in a high level of satisfaction for the Credit Union and employees at the lowest possible cost. Through the CUHB plan, credit unions will have the option of a medical plan or a comprehensive benefit package (including dental, life and disability coverage).

"With medical premiums rising ten to fifteen percent annually, we are witnessing a pent-up demand for more cost-effective solutions among mid-market employers who are seeking alternatives to traditional health insurance plans," said Fred Cannon, Executive Vice President, Risk Strategies Company. "Our CUHB offering is a long-term solution designed to control costs and eliminate the difficult decisions credit unions face around balancing total compensation in a time of increasing benefits costs."

Why Credit Unions Choose CUHB:

  • CUHB offers broad access to care and is accepted by the majority of the nation's providers -- preserving current employee provider choice (through the CIGNA and BCBS networks)
  • Credit unions design their own plans to meet the unique needs of their workforce and have their policies rated accordingly in a completely transparent model
  • Claim data is provided in a HIPPA compliant manner, allowing credit unions to adjust plan designs and target wellness initiatives to control costs
  • Un-used premium dollars can be used to reduce future premiums or fuel prevention and wellness programs, leading to healthier employees

What Current CUHB Customers Have to Say:

  • "Working with Risk Strategies and CUHB, we have been able to improve our health offerings and save 20 percent of the cost over the last two years," said Ed Cassady, Vice President, Patelco Credit Union. "In addition to the cost savings, the transparency in medical utilization allows us to implement a robust wellness program to improve the overall health of our employees."

  • "After enduring significant rate increases on a private medical plan for several years, we did our due diligence and made the decision to join the CUHB medical plan," said Lisa Pesta, VP of HR at Meriwest Credit Union. "While we are projected to save over 10% it was just as important to us that there be no disruption to our employees; I'm happy to say that the change was seamless and our employees are very happy."

About Risk Strategies Company
Ranked in the top 65 brokers in the country, Risk Strategies Company is a national brokerage firm distributing property and liability insurance and employee benefits insurance products to both privately held and publicly traded commercial clients.

Contact Information

  • For More Information:

    Press Only, Contact:
    Jessica Dooley
    Communications Coordinator at Risk Strategies Company
    (617) 330-5738
    Email Contact

    Danielle Millerick
    ThinkMedia PARTNERS for Risk Strategies Company
    (978) 740-1013
    Email Contact

    On the CUHB Program, Contact:
    Fred Cannon
    EVP, Risk Strategies Company
    (916) 367-4326
    Email Contact