Why a Private Exchange? A Private Exchange Answers These Top 10 Questions.
- Defined Contribution: I don’t want to get involved in peoples individual health insurance needs. How does the Employer extricate from this very personal and important employee need and yet still offer this benefit? I like the defined contribution similar to a 401k.
- Tax Advantages: How do I offer the group and employee pre-tax advantages not offered on an individual basis?
- Group Insurance Upgrade: How do I upgrade from the diminishing individual market and meet strict group underwriting? Rates are higher, smaller networks and lower benefits in this segment.
- Full Fortune 500 Benefits: How do I offer balanced voluntary benefits similar to a Fortune 500 company? Some employees are asking for group discounted dental, vision, disability, life insurance and supplemental coverage such as AFLAC but we can’t guarantee the minimum participations.
- Simplify: I don’t have the time needed to make annual plan changes. How do I empower my employees with choice, education and various networks to make their own choices? Many times I’d just rather absorb the 10% increase than deal with the changes.
- Choice: I have employees all over the Metro area. How can you help me offer more than 1 or 2 health plans as benefits have become more complex and networks increasingly narrow geographic sensitive in nature?
- Technologies: Can you give me the technologies needed to make this paperless? Do you have a platform that I can use as an intranet communication portal? Can I securely store documents such Employee handbooks and notification?
- Added Value: Can you offer additional supporting tools aside from technology? Do you have COBRA and section 125 cafeteria documents?
- HR: Do you have an HR Services for Employers Support? Will you have employee support such as a 24/7 independent CS concierge services?
- Personalization: Will I have an in person experienced knowledgeable consultant available for support on plan design, metrics, and customer care and employee open enrollment?
Is a Private Exchange Right For My Group?
If you’re a small business owner who has concerns about payroll, filing paperwork, and complying with government regulations, co-employment may be the service you’ve been looking for. In some cases, a Private Exchange may NOT be right for you. With Health Care Reform your company may qualify for a small business tax credit or a be eligible for a large group discount under a PEO.
Try us on a custom demo, contact us at (855)667-4621 .