Virtue Health

Virtue Health is a private group insurance purchasing consortium that allows employers to share risk, lower volatility, and improve benefits


What is Virtue Health?

So Virtue Health is a private group stop loss purchasing consortium. You noticed I said that slow, it's not something you want to try to say fast. So our private consortium was designed by an advisor for advisors. So unlike traditional stop loss, our program is going to provide a long-term insurance solution for employers in that small to mid-size market space. By utilizing Virtue Health's collective purchasing power, which is that consortium piece, employers in that 50 to 500 range are able to pool their risk with other forward thinking employers. So leveraging this consortium approach not only optimizes protection, but it's going to lower the volatility in the bad years, and unfortunately, you know, groups are going to have their bad years. So Virtue does not require any collateral to join and there are no cash calls. We are also offering policy features such as no new lasers, rate caps, banded renewals, and you can enter or renew any time of the year that is your call.

How is Virtue Health different?

So Chris, the key to managing an insurance pool is controlling the high dollar claims. Unlike the public pool captive and consortium models that are allowing everyone and anyone in, Virtue Health is a completely private pool that has cost containment requirements to join the program. As an example, we don't allow any carrier administrators or the big three PBMs, or really, anyone that's not aligned with our employers to participate in the program. By doing this, we are eliminating massive amounts of abuse on the plans that could affect our pool.

Who is a good fit for Virtue Health?

Okay, so there are two types of advisors we love to work with, the advisors utilizing the traditional stop loss market who want a long-term strategy to protect their clients from the volatility of claims and the advisor that wants a better option other than the public pool space. I mean, some of the groups in the public space are seeing 15 to 20% premium renewals every year, so Virtue is great for the advisor that wants to be in private pool where all of the employers are made to abide by the cost containment strategies. Virtue Health is a long-term stable solution for groups, and in the end, the advisor did their job, we did ours, and that makes for a great conversation come renewal time.

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Duration: 02:52

Posted: Saturday, June 17, 2023

Video tags: 51 - 100 EEs, 101 - 250 EEs, 251 - 500 EEs, 501 - 1000 EEs