For employees, the platform offers a broad selection of benefits ranging from insurance to products and services that can elevate their health and wellness. For employers, Springboard Marketplace provides a streamlined way to provide benefits all year round, for both traditional benefits and new offerings. In addition, the platform enables employees and employers to manage their benefits budgets via a defined contribution model, aided by a decision-support tool to help employees make choices.
“Our goal has been to use technology and information to simplify the administration of health care benefits, reduce costs and empower consumers, and the development of Springboard Marketplace is an extension of that strategy,” says Rich Gallun, CEO of the Chicago-based bswift.
Beyond helping to control increases in health care costs, Springboard is designed to help employers stay competitive in recruiting and retaining employees. Based on a defined contribution model, the exchange lets employers establish a set dollar amount for employees to spend on benefits, and employees see a broader set of benefits options on which to spend those dollars.
Features of Springboard Marketplace include:
- A variety of health plan options, both insured and self-insured, from numerous carriers across the country;
- Ancillary and voluntary benefits, which include dental, vision, life, disability and accident insurance, from carriers such as Assurant Employee Benefits, The Guardian Life Insurance Company of America, MetLife and Unum;
- The ability to purchase care directly (including dental, massage therapy, acupuncture and chiropractic visits) at negotiated network discounts;
- Wellness solutions such as weight loss and fitness products and programs; and
- Additional benefits such as pet insurance, legal insurance and identity theft protection.
Built on bswift’s private exchange technology, Springboard Marketplace also includes seamless integration with carrier partners for underwriting, tools for complying with the Patient Protection and Affordable Care Act (or ACA), and Electronic Data Interchange (EDI) files and transmissions to carriers and payroll.
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