The model utilizes the distribution of the financial service marketplace – banks, payroll administrators, credit unions, and associations – to reach consumers. It also addresses the problem of uninsured and underinsured workers by offering a new model in health benefit deployment through OutsourceOne’s BenefitReady Web based technology, according to a press release.
Bill Mehus, founder and CEO of OutsourceOne, Inc., said in the announcement that the BenefitReady platform of products has already been introduced in Texas and will soon be rolled out in California, Minnesota, and numerous other states. He said OutsourceOne hopes to introduce BenefitReady in all 50 states within 12 to 18 months.
Products offered through BenefitReady comprise a full suite of benefits including limited medical plans, vision, life, disability, AD&D, critical illness, identity theft and, for the financial institution offering the benefits, a unique medical premium continuation (due to unemployment) for consumers and bank depositors, developed in partnership with Lloyd’s of London, the announcement said.The Web-based enrollment software platform can be used to offer benefits without any significant commitment of equipment or resources on the part of the offering organization.