Blue Cross Blue Shield of Arizona Selects Array Spectrum™ Private Health Insurance Exchange Technology
Seattle (PRWEB) June 05, 2014
Array Health, a provider of private insurance exchange technology, today announced that Blue Cross Blue Shield of Arizona (BCBSAZ) has selected the Array Spectrum™ Private Exchange solution for managing employers' enrollment and benefits plan choices. Multiple funding arrangements for groups will also be available.
The platform will be BCBSAZ branded and made availabile later this year for plans effective after March 1, 2015. The exchange will launch with core medical, dental and vision plans with additional ancillary products to be included in the future. BCBSAZ will offer the new exchange to groups of all sizes (large, medium and small) as well as brokers that work closely with Arizona employers. The exchange will support multiple funding models including defined benefit and defined contribution approaches, which many employers are requesting.
"Our goal is to meet the changing demands of a new consumer-driven marketplace by offering an approach to buying healthcare benefits similar to how consumers shop for other goods online," said Mike Tilton, vice president of sales at Blue Cross Blue Shield of Arizona. "Array Health's expertise in a seamless member experience through private exchanges helps us give consumers the flexibility to select plans most suitable for them."
BCBSAZ will use Array Spectrum™ to support end-to-end consumer engagement for the marketing, selling, enrollment, management, renewal and administration of health benefits. The insurer will also feature the Array Spectrum™ Member Marketplace which uses the patent-pending SmartFit™ decision support technology, helping consumers select the right plan.
In addition to giving Arizona-based brokers a channel for offering employer groups a defined contribution model, BCBSAZ's private exchange will also leverage Array Health's Broker Administration Center software module, where brokers can easily manage their accounts and enrollment data and significantly reduce the administrative burden associated with open enrollment, whether that is for group or Medicare products.
"Blue Cross Blue Shield of Arizona is a prime example of the wave of innovation occurring in the private exchange market. A branded online exchange gives insurers a new strategic channel to differentiate their offerings and gain greater control over the sales process. When done right, these platforms will leverage data and analytics from across the health plan enterprise and partner ecosystem to create a richer experience for the member year after year," said Jonathan Rickert, CEO of Array Health.
"We are thrilled to partner with Blue Cross Blue Shield of Arizona and support its efforts to create one of the most comprehensive private exchange solutions in the nation," said Piyush Pushkar, senior vice president of sales and marketing at Array Health. "The next phase of the strategic multi-year partnership between BCBSAZ and Array Health will include product expansion for offering ancillary benefits including critical illness, disability, term life and others."
About Array Health
Array Health is a leading provider of private insurance exchange technology. Its cloud-based software platform enables health plans of any size to deliver their own branded online exchange--a strategic channel that helps them compete and thrive. It also provides employers a new way to control costs and gives members a better way to buy benefits. Array Health is a privately held company based in Seattle. To learn more, visit arrayhealth.com.
About Blue Cross Blue Shield of Arizona
Blue Cross Blue Shield of Arizona (BCBSAZ), an independent licensee of the Blue Cross and Blue Shield Association, is the largest Arizona-based health insurance company. Celebrating its 75th anniversary, BCBSAZ provides health insurance products and services to Arizonans across the state. With offices in Phoenix, Flagstaff, Tucson and Chandler, the company employs more than 1,300 Arizonans. Follow BCBSAZ at http://www.facebook.com/bcbsaz or on Twitter at @bcbsaz to get information on health and wellness, health care reform, and community events.