Assurex Global, a privately held commercial insurance, risk management and employee-benefits brokerage group, has launched its private exchange to offer an array of employers’ health benefit plans in the US.
Known as the Assurex Global Private Exchange, the health care insurance market delivers employers a range of administrative flexibility and employee health benefit options within the industry.
Assurex Global president and CEO Jim Hackbarth said, "This platform gives employers and their employees the maximum choice in designing a benefits plan that works for them."
The Assurex Global Private Exchange, in association with an employee-benefits outsourcing partner, Businessolver, enables employers to maintain a competitive advantage by offering best-in-industry benefits.
Facilities provided by the private exchange include the ability to select a defined contribution or a defined benefits plan, a prepackaged set of medical and ancillary benefits for employers and their employees.
Additionally, it also offers support for Affordable Care Act record-keeping responsibilities, business data integration that enhances the benefit administration experience and flexible decision support tools that make employee choice easier.
It is believed that approximately 20% of employees across the US will get their health insurance through a private exchange, within the next five years according to Accenture Research.