The partnership with Liazon, which operates the Bright Choices Exchange, came about in response to the Patient Protection and Affordable Care Act (PPACA).
“Employers will work with their BAN member to design and implement a defined contribution [DC] model where, through a choice of plans, an employee can choose the benefits that best fit their health, financial and risk profiles,” said Perry Braun, BAN’s executive director. “Our private exchange partnership will allow employers to activate plans and carriers that fit the employee benefit strategy that our BAN member and employer decide on.”
Braun added that the exchange will also operate as a fully functional Web-based benefits administration platform to handle all enrollment, eligibility, carrier data feeds and reporting.
The Bright Choices Exchange is an online benefits store that allows employees to personalize their benefits package with a selection of health, dental, vision, life, disability and other benefits from national and regional providers.
“The Bright Choices Exchange helps businesses control costs while increasing employee satisfaction,” said Michael Karp, Liazon’s chief revenue officer.
Benefit Advisors Network is a national network of independent, employee benefit brokerage and consulting companies that provide tools, technology and expertise to member firms.