Assurex Global Launches Employee-Benefits Marketplace Platform -Businessolver®
RHSB partner Assurex Global announces a unique private marketplace platform that gives employers the widest range of administrative flexibility and employee health benefit options in the industry.
“Employers have been struggling for years with ever-increasing medical costs,” explained Assurex Global President and CEO Jim Hackbarth. “Health care reform requirements further complicate the decision-making process. This product not only helps employers budget for the future, it expands employee options, thereby allowing them to choose the best plan for themselves.”
The marketplace platform, in collaboration with employee-benefits outsourcing partner Businessolver®, provides the widest range of administrative flexibility available to employers, no matter what benefit decisions they make in response to new provisions of the Affordable Care Act in 2014. Those changes include the creation of insurance exchanges, which Hackbarth said have caused widespread confusion.
“Employers will need to decide how and where to direct employees in accessing medical benefits,” Hackbarth said. “Our product allows employers the flexibility to keep their current benefits program or choose from a wide variety of networks, plans and contribution strategies – including defined contribution strategies that limit employer costs.”
The Assurex Global marketplace platform allows employers to maintain a competitive advantage by offering best-in-industry benefits while removing the heavy lifting of benefits administration. Among the key advantages are:
- The ability to choose either a defined contribution or a defined benefits plan
- A prepackaged set of medical and ancillary benefits for employers and their employees
- Support for Affordable Care Act record-keeping responsibilities
- A single-source administrative packaging
- Marketplace business data integration
- Flexible decision support tools that make employee choice easier
“There is nothing like this in the market today,” said Assurex Global Board Member and Oswald Companies CEO Robert Klonk. “Our platform gives employers and their employees maximum choice in designing a benefits plan that works for them.”
Assurex Global, the world’s largest privately held commercial insurance, risk management and employee-benefits brokerage group,expects to begin adding employers to the marketplace platform by the second quarter 2013.
Businessolver delivers online benefits administration services via Benefitsolver – its proprietary single source technology – to deliver a complete benefits solution to employers. Businessolver’s benefits outsourcing capabilities include complete benefits administration outsourcing, health insurance exchange consulting and construction, benefits process consulting and engineering, and wellness consulting and integration.
About Assurex Global
Columbus, Ohio-based Assurex Global combines the local expertise and global reach of international brokers on six continents with more than $28 billion in annual premium volume and more than 500 partner offices.