UBA Launches Private Exchange

October 31, 2013 (PLANSPONSOR.com) – United Benefit Advisors (UBA) launched a private insurance exchange marketplace for large group employers.

UBA, based in Indianapolis, Indiana, will offer its partner firms access to Benefits Passport. Based on a defined contribution model, Benefits Passport will serve large group employers (those with more than 50 employees) and provide services such as online enrollment, an employee contact center, accounting, payroll deduction reporting and billing.

The online exchange is set to open November 1 for coverage to start January 1, 2014. It will allow employees to buy health care insurance from a selection of a number of carriers, with monthly premiums paid from pre-tax dollars and employers making defined contributions to pick up part of the tab. Benefit offerings include major medical and pharmacy, as well as ancillary or voluntary benefits such as dental, vision, life, disability and critical illness. Wellness programs will also be available and customer care support provided for all participants.

“The UBA private insurance exchange offers a streamlined health insurance solution that mitigates the burden of administration and compliance risk for employers while making it easier for employees to shop, understand and choose their benefits package,” said Paul Zumbrook, senior vice president of Partner Relations for UBA.

Benefits Passport is powered by Hanna Global Solutions, a UBA partner firm, which has developed technology platforms and other tools that help manage complex client business models.

“Benefits Passport enables employees to enroll in and monitor their health plans, and also to receive guidance, with minimal employer assistance,” said Mathew Augustine, COO for Hanna Global Solutions.

More information can be found at http://www.benefitspassport.com.