HR/benefits consulting firm Mercer announced Thursday the launch of a private benefits exchange developed by Benefitfocus, available to employers with at least 100 employees.
Called Mercer Marketplace, the exchange will provide access to a broad array of benefits — both traditional and voluntary — from multiple insurance providers, along with education tools and support to help employees customize their choices to better fit their needs, according to the company.
In the exchange — which uses cloud-based technology developed by Benefitfocus — employers will be able to determine how much to contribute toward the cost of their benefits program.
In launching this exchange, Mercer joins other companies large and small building their own health care exchanges, a key element of President Obama’s health care reform legislation. In July 2012, the employee benefit consulting arm of Arthur J. Gallagher & Co. launched a private insurance exchange platform in partnership with Liazon Corp., that included health, dental, vision, life and disability coverage, among other benefits, from various national and regional insurance providers. Aon Hewitt also launched an exchange last year.
According to Mercer, 56% of employees are considering a private exchange to provide benefits to their active employees or retirees.
EBA Managing Editor Brian M. Kalish contributed to this report.
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6 Comments
Posted by: Jeff T | January 22, 2013 8:59 PM
I have heard of a few others that will be available through select distribution partners and potentially available to the tri-state area, with employer groups as few as 10 enrolled. Inbox me if you are interested in details.
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Posted by: Jeff T | January 22, 2013 8:57 PM
I have heard of a few others that will be available through select distribution partners and potentially available to the tri-state area, with employer groups as few as 10 enrolled. Inbox me if you are interested in details.
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Posted by: Stephanie P | January 11, 2013 2:45 PM
1,000 is the threshold when Benefitfocus contracts with an employer directly - but when they support consultants, carriers and brokers, the threshold varies. With Mercer's private exchange, the threshold is 100 or more employees. Details at http://www.mercer.us/articles/mercer-exchange-suite.
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Posted by: Stephanie P | January 11, 2013 2:26 PM
Mercer Marketplace, will indeed be scalable to employers with as few as 100 employees, and up.
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Posted by: Jed D | January 11, 2013 12:20 PM
Hub International Services Inc. has a private benefits exchange and is set up to accomadate 50 or more employees. If you would like to explore options I can be reached at jed.dershimer@hubinternational.com
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Posted by: RJM | January 11, 2013 9:13 AM
FYI - I contacted Benefitfocus and they only deal with employers with 1,000 or more employees.
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