About Private Employee Benefit Exchanges

                         About Private Exchanges

The Concept and Creation of Private Exchanges are an off-shoot of PPACA - ObamaCare. As part of Health Care Reform, PPACA mandated the delivery of structured Health Plan Benefits through State and/or a Federal Exchange. They also did not disallow the creation of Private Exchanges.

Private Exchanges provide an Online Marketplace for employers of all sizes to compare and purchase Health insurance - as well as Voluntary and Ancillary Plans, Programs, and Services. While not required, most Private Exchanges will be offered on a Defined Contribution(DC) basis by the Employers with the assistance of Brokers and Service providers. Quite simply, the Employer determines the following:
          > The total number of dollars to allocate to Benefits on an annual basis.
          > The number of Dollar/Credits to allocate to Employees by classification on a non-discriminatory
              basis?
          > The Benefits to offer the Employees on a "Menu" of Plans, Programs, and
             Services - working with a Broker(s) on a Commission or Fee Basis?
          > How to accomplish the Education, Communication, and Data Management Processes?

The Efficient and Cost-Effective Development/Delivery of Private Exchanges demands Sophisticated Technologies. Fortunately, in the past several years a number of Companies developed these technologies as demand increased for Defined Contribution Plans.

While details for the State and Federally controlled Exchanges are still being developed - and the Broker's role - Private Exchanges are permitted and can be implemented now for providing compliant Plans, Programs, and Services including :
          > PPACA Health Plans
                  Consumer Driven Health Plans - CDHPs
                  HRAs
                  HSAS
                  Gap Plans
          > Section 125 IRSC Pre-Taxing
          > Reimbursement Plans
                  Flexible Spending Accounts - Flex Plans
                  Dependent Care Accounts
                  Transportation & Parking Accounts
          > Voluntary Benefit Plans and Ancillary Benefits
          > Ancillary Plans

For more information about Private Exchanges Click on the Links in the Left Column above and Visit Report By Booz & Company. The Time To Get Started is Now for:
          > Brokers
          > TPAS
          > Employers