Private Exchange for Employer Groups (now open)
Just as every employee is unique, so are their benefit needs. Employers, with 5 or more enrolled employees, now have a way to address the different requirements of each employee, while also managing the company’s bottom line. That means cost control and predictability for the employer, and greater involvement and choice for the employee. The availability of the exchange is timely as many employers are experiencing significant rate increases on their group plan renewals due to health care reform.
Once agreeing to set up their private exchange account, employers then select the benefit plan options they wish to make available, set up a defined contribution strategy, and allow employees to log-in and shop for their own benefits. Employees receive enrollment assistance from leading-edge decision support technology through the exchange as well as through the assistance of live Benefits Counselors.
The exchange for employers opened on Dec 2nd. Employees can now inquire and receive a:
- Analysis of cost and benefit of the exchange health plans to their existing group health plan, if one exists.
- Live demonstration of the private exchange portal.
- Proposal including all costs and benefits included with the private exchange.
Employers can call 1-800-282-8626 or Request a Private Exchange Quote online.