Plancorp Private Exchange
The requirements of the Affordable Care Act and the rapidly increasing cost of health care coverage have caused employers to reassess how they provide benefits to their employees. One option growing in popularity is a defined contribution solution utilizing a “Private Exchange.”
In a defined contribution plan, the company provides each employee a fixed dollar amount to spend on their benefit plans. The employee is provided a wide range of plan options with different deductible, copayment, and out-of-pocket amounts. The employee then can select the plan option and cost that best meets their individual insurance needs. Specialty and supplemental insurance products can also be included under this program. This approach can provide employers with a more predictable cost for budgeting purposes as they define their corporate benefit strategy.
Our role as your benefits partner is to evaluate your corporate needs and work with you to design options that meet those needs and will be attractive to your employees. More options. More Flexibility. Predictable Cost. That is the advantage of a defined contribution approach through an “Exchange.” Contact us to see if our “Exchange” might be a solution for you!