United Benefit Advisors, the nation’s leading independent employee benefits advisory organization, announced Friday the launch of Benefits Passport, a private insurance exchange marketplace available exclusively through Beneflex Insurance Services Inc.
Based on a defined contribution model, Benefits Passport, powered by Hanna Global Solutions, will serve large group employers (more than 50 employees) and provide a full suite of services such as online enrollment, an employee contact center, accounting, payroll deduction reporting and billing.
Benefits Passport is an open source program that can support all major insurance carriers as well as any carrier with a standard data feed. Benefits Passport is an affordable insurance option to help employers reduce costs, increase efficiency, simplify administration and provide exceptional value to employees in the face of health-care reform.
“The UBA private insurance exchange offers a streamlined health insurance solution that mitigates the burden of administration and compliance risk for our clients while making it easier for their employees to shop, understand and choose their benefits package,” said Dan Cattaneo, CEO of Beneflex Insurance Services.
The online exchange, which opened Friday for coverage to start Jan. 1, 2014, will allow employees to buy health-care insurance from a choice of carriers, including Aetna, Cigna, Blue Cross and more, with monthly premiums paid from pre-tax dollars and employers making defined contributions to pick up part of the tab.
Benefit offerings include major medical and pharmacy, as well as ancillary (or voluntary) benefits such as dental, vision, life, disability and critical illness. Wellness programs will also be available and customer care support is provided for all participants.
Thom Mangan, UBA CEO stated, “Like all things UBA, we decided to create a unique and proprietary product that was exclusive for our UBA Partner Firms to better serve their clients. This self-service platform provides employees an opportunity to compare plans and make more informed decisions based on their health care and financial situation, making them better consumers.”
“This platform is easy to manage and includes a U.S.-based advocacy center that provides employees around-the-clock access and emergency support – features that set Benefits Passport apart from other platforms on the market,” said Mathew Augustine, COO for Hanna Global Solutions. “Simply put, Benefits Passport enables employees to enroll in and monitor their health plans, and also to receive guidance, with minimal employer assistance.”
— Dana Dunaway is the finance director for Beneflex Insurance Services.