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
                          
                                              
                                                     
Email max@benefitplace.biz / Call Phil - 216.577.5579
For More Information
Email max@benefitplace.biz Call Phil  216.577.5579
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