Blue Cross and Blue Shield of Kansas City and Benefitfocus Partner to Launch Private Insurance Exchange
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"Launching this private exchange is key in our goal to provide employers with a better way to manage employee benefits and adapt to the changing healthcare market," explains
The retail platform's plan shopping workflow integrates seamlessly with Blue KC's existing online enrollment and billing solutions provided by Benefitfocus. Employers are able to enforce business rules, creating a pre-filtered, micro marketplace that allows employees to only see the plans for which they are eligible. As employees explore the selection of plan options, a personal shopping cart displays employer allocated funds and tracks the employee's out-of-pocket costs.
Blue KC's private exchange creates a true marketplace for employers to provide their employees with a wide variety of benefit options in one place including core Blue KC medical coverage as well as other benefits such as dental, vision and life insurance. The technology behind the marketplace enables data to be passed between the exchange and carrier, so members see real-time plan information and rates when shopping for benefits. As new products are introduced to the market, cloud-based technology will allow Blue KC to incorporate even more options to the exchange marketplace.
Accessible on any web-enabled device, the exchange features interactive, multimedia tools that educate consumers and make shopping for benefits more convenient than ever before. Decision support tools, questionnaires, informative videos and animation are available to guide shoppers through the process. Integrated claims information, along with the ability to personalize expected plan usage and estimate costs, create more cost transparency for shoppers, helping them make informed healthcare decisions.
"The emergence of private exchanges turns the world of benefits into an e-commerce market, transforming the way employers and individuals select plan options," said
Blue KC will introduce the private exchange to the large group market in early 2013.
About
About Benefitfocus
Benefitfocus is the largest benefits technology provider in the U.S. More than 18 million members, 300,000 members and 60,000 brokers use our cloud-based platform to shop, enroll, manage and exchange all their benefits in one place. From consumer engagement and education to enrollment, communication and billing, Benefitfocus is helping companies find a better way to manage their benefits. For more information, visit www.benefitfocus.com Benefitfocus – All Your Benefits. One Place.
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SOURCE Benefitfocus
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