Why BenChoice Private Exchange?
BenChoice Private Employee Benefits Exchange was created by a team of employee benefits technology professionals based on real world experience. The BenChoice Exchange is currently distributed by a network of insurance agencies throughout the country. If your current broker is not a BenChoice Partner, tell him to contact us to setup an account or we can refer you to one of our Broker Partners. BenChoice believes the the post ACA era will continue to bring many changes in the years to come. As a result, we built our service to be flexible and highly configurable based on the specific needs of the client. Our services are also supported by an experienced outsourced implementation team that can enable a private exchange for your client in days. Many other providers require months to setup. Unfortunately, that’s not how employees benefits insurance design works in the real world.
An exchange is an online store where employees can purchase benefits. Exchanges offer multiple options of health insurance plans, and other benefits, such as dental, vision, life, disability, and other plans. “Private” exchanges are run by a non-government organizations. “Public” exchanges are run by the government.
In most private exchanges, the employer chooses a set of benefits and carrier options available to employees. Employees and their families can then go shopping in the exchange; employees can receive guidance and education about the plans to help them make purchasing decisions.