How a public library ditched the status quo and saved $1M with ParetoHealth

Overview

Evansville Vanderburgh Public Library (EVPL), a beloved institution serving the Evansville community, faced a familiar challenge: rising healthcare costs. They were on a fully insured health plan, covering on average 75% of premiums, and staring down a significant renewal increase. When they notified their insurer that they planned to find another option, they were offered a 0% renewal.

EVPL and their consultant saw through the short-term concession and recognized the long-term math wouldn’t work. They joined ParetoHealth in 2015, and since then, EVPL has been able to cover 90% of premiums and achieve nearly $1 million in savings, all while delivering benefits their employees truly appreciate.

Challenge

Blindsided by a significant renewal

Before joining Pareto, EVPL was on a fully insured health plan and covering on average 75% of premiums, but had no visibility or control over rising medical and pharmacy costs.

• Premiums on the rise: EVPL was hit with a significant renewal hike, and after signaling they might explore other options, they were offered a 0% increase.
• No visibility: Without access to claims data, EVPL couldn’t prepare for or manage emerging risks, especially as pharmacy costs were doubling year over year.
• Financial vulnerability: EVPL had to absorb every dollar of volatility handed down by their insurer.