City Limits?
Massive savings for the city of Corbin, Kentucky
Under Virtue Health, the city of Corbin, Kentucky was not only able to reduce their municipality’s yearly health plan spend, they also received a surplus check at years end.
Total Savings
Challenge
A small city paid nearly $600,000 on health care benefits for its 100 employees through its fully-insured health care plan each year. Although we frequently discussed switching plans, leadership hesitated at the idea.
Solution
After Initial Cost Modeling revealed their fully-insured plan locked them into expensive pricing every year, they agreed to transition into a partially self-funded plan that delivered the flexibility of Value-Based Insurance Design, a data-driven approach to health care that helps employees access high-quality care at lower prices.
Outcome
The city has saved more than $400,000 over the last two years while eliminating co-pays for prescription maintenance medications and slashing max out-of-pocket expenses by 45%.
