The Bright Choices Exchange enables employers to save money on their healthcare costs by
setting predictable budgets, the company said, and allows employees to select health, dental,
vision, life and disability coverage, among other benefits, from various
national and regional insurance providers.
"There will be many different private exchange models, and
organizations will be interested in them for different reasons.” said GBS
President James W. Durkin, Jr. “Some organizations
may be focused on simplifying a complex benefits administration process, while
for others this may be a key piece in helping execute their Total Rewards
Exchanges are expected to provide employers and employees an effective online
marketplace to help them budget for, evaluate and purchase employee benefits,
the company said.