HUB International recently expanded its private exchange to markets across the United States to provide an additional solution for employers to manage costs and expand employee choice. HUB launched the Bright Choices® Exchange platform in partnership with Liazon Corporation in late 2012 in a limited number of markets and is now expanding the availability of the platform nationwide to help clients better manage their group benefits program.
The HUB exchange strategy enables clients to save money by structuring their health benefits on a predictable, budget-based platform that is customized by geographic location and each client's unique needs. With Bright Choices, HUB helps employers save money on their healthcare costs by setting predictable budgets and creating a marketplace that allows employees to personalize their benefits package based on their needs and budget. Award-winning decision support and education tools help employees make smarter choices and expense tracking tools help them manage and pay expenses year-round.
The national carriers participating include Aetna, Allstate, Anthem, MetLife, and United Healthcare, with several more in discussion. Additionally, regional carriers have been selected by each HUB regional employee benefits team based on their ability to deliver best-in-class solutions to clients in local markets. A full range of benefit options are available including medical, dental, vision, disability, and life insurance.
"We have carefully selected the carriers that we want to partner with in each local market, giving our clients access to preferred carriers in their area who are best suited to meet their unique needs," said Joseph Torella, President, Employee Benefits for HUB International Northeast and National Employee Benefits Practice Leader. "Our experience with Liazon in the past year demonstrates that this solution meets the needs of a broad cross-section of employers and works just as well for small-to-mid sized businesses as it does for large employers."
Ron Agypt, Chief Sales Officer, Employee Benefits, HUB International Limited, commented, "Our goal is to meet the emerging needs of our clients by giving them a solution that is not just a one-time play to reduce costs but an integral part of a three-to-five year strategic benefits planning process. With the Bright Choices platform, we can help employers determine if a defined contribution strategy is right for them, provide them insight on their future health care costs, and offer their employees more choice when it comes to their plans."
The HUB private exchange will continue its national expansion to more markets in 2014. To learn more about this option, talk with your HUB benefits consultant or visit www.hubbrightchoices.com.