PPI Benefit Solutions Launches Benesphere Employee Marketplace for an End-to-End Private Exchange Solution

Wallingford, CT (PRWEB) January 16, 2014

PPI Benefit Solutions (PPI), a leading provider of benefits administration technology and services for smaller, mid-sized employers, has launched a private exchange solution. The Benesphere Employee Marketplace provides a wider array of plan choices and an enriched online enrollment experience for employees while allowing employers a more predictable funding method through defined contribution and powerful web-based technology to handle day-to-day administration.

The Benesphere Employee Marketplace is the next generation offering from PPI, a company that has provided consolidated benefits administration services through carrier and broker partners for over 40 years and whose mission is to simplify and streamline benefits enrollment, eligibility management, and benefits delivery for a generally underserved market.

“Rising healthcare costs and healthcare reform have thrust health insurance exchange models into the limelight as cost control and distribution strategies,” said Luis Nunes, President & CEO. “The exchange concept may seem new, but in reality the model is one that PPI has used for decades. Strong carrier relationships, a leading technology platform, and hands-on client services made it a logical next step to extend our capabilities across a broader range of benefit options.”    

Benesphere is different than many other private exchange solutions on the market today. End-to-end technology and services go beyond greater plan choice and an enhanced front-end enrollment experience and includes functionality to maximize the efficiency and accuracy of back-end administrative processes for the employer.

Highlights of the Benesphere Employee Marketplace include:    

   •      Multiple defined contribution funding options
   •     “Explore, Evaluate, & Enroll” for a simplified benefits buying and enrollment process featuring decision support, online video, an extensive document reference center, and access to health management tools.
   •     Full menu of benefit options: medical, dental, life, disability, vision, critical illness, accident, and more
   •     Paperless processing of new hires and eligibility changes
   •     Accurate and timely Electronic Data Interchange (EDI) to carriers and vendors, with complete discrepancy management
   •     Dynamic HR management and reporting tools
   •     True consolidated premium billing, reconciliation, and payment processing
   •     Health care reform and compliance support
   •     Enrollment call center and member advocacy services
   •     Integrated COBRA administration with a participant online payment option “There has been a proliferation of benefit administration and exchange technology services in recent years,” continues Nunes. “And while many of these systems offer an impressive, “Amazon-like” shopping experience, many of them lack the back-end functionality and sophistication required to properly manage complex benefits and insurance products. Employers want to feel confident that their employees will receive ID cards on time and that they will not experience coverage issues when they access care.”

Benesphere is available for employers in Connecticut, New York, New Jersey, and Pennsylvania with between 50 and 300 employees. Employers interested in learning more should ask their broker to contact their local PPI sales representative or call (888) 674-0046.

About PPI Benefit Solutions
PPI Benefit Solutions helps smaller, mid-sized employers relieve the day-to-day challenges of managing an employee benefits program. With over 40 years of benefits administration experience, PPI leverages strategic relationships with a broad array of nationally recognized insurance carriers and powerful, web-based technology to provide a single solution for multiple carrier enrollments and eligibility processing (including online enrollment and employee self-service), electronic eligibility data and discrepancy management, true premium billing and payments, COBRA Administration, and member advocacy services, all at little or no cost to the employer. Working exclusively through brokers, PPI serves over 1,300 clients, mainly in the Tri-State, Northeast and Mid-Atlantic regions. PPI (Professional Pensions Inc., dba PPI Benefit Solutions) is a subsidiary of National Financial Partners Corp. (NFP). For more information, visit http://www.ppibenefits.com.

Read the full story at http://www.prweb.com/releases/ppi/exchange/prweb11490378.htm