Private Exchanges

Private Exchanges

Keeping you abreast of the latest market developments. . .

As your independent employee benefits consultant, CBIZ will research and present you with all benefit options, including private exchanges.

We are seeing many new players enter the private exchange space, including benefits administration companies, technology companies and health insurance carriers to name a few. It can get confusing, but we will bring clarity as we do when evaluating all of your benefit program options.

In its simplest form, a private exchange is typically thought of as a “defined contribution model”; you set a fixed budget for benefits and your employees customize their benefits package to meet their specific needs. Once you set your budget, which will help your organization cap current expenses and future liabilities, your employees utilize the online private exchange platform to “shop” for their benefits. They will select from a wide range of consumer-oriented health, wealth and risk management products and services, including medical, wellness, dental, vision, life, disability and other related benefits from top national and regional providers.

Designing and managing the right benefits program for your employees and their families can be confusing. The experts at CBIZ will make sure all of your options, including private exchanges, are crystal clear.

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