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Private Marketplaces (Exchanges) Offer Promising New Approach

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Private Healthcare Marketplaces are synonyms for  “Health Exchanges”.  Private Marketplaces are simply privately sponsored on-line shopping sites for individual health plans.  These marketplaces can be coupled with Health Reimbursement Arrangements (HRAs) for employers to provide fixed monthly reimbursements for premiums to employees on a tax-advantaged basis. These arrangements are also known as “defined contribution health plans”.

Advanced Benefit Strategies has established the ABS Healthcare Marketplace to give employers and individuals access to individual health plans through a comparative shopping experience.  We anticipate this will be important to our clients as an attractive option for dealing with the impact of the ACA (Healthcare Reform).

More information and commentary is available in this article: http://www.reuters.com/article/email/idUSBRE98J0W620130921 .

We will keep you updated on developments in Exchanges and Marketplaces.  If you are interested in using a Private Exchange to lower your company’s health plan costs, contact us at (757) 536-4554 or email us: gregg@absofva.com.

In his career, Gregg has developed specialized expertise in “consumer-driven” and high deductible health plans with HSA and HRA strategies, and sold the first HSA plans issued in Virginia through Assurant Health. He is an expert in analyzing plan design data and has served as account executive for national accounts such as Coca-Cola Enterprises and Tenet HealthCare. Gregg utilizes a strategic approach to establish goals based on each client’s unique culture and competitive environment, and measuring results against jointly established criteria. Gregg Kennerly is a Principal at Advanced Benefit Strategies of Virginia, LLC.
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