Blue Cross Blue Shield of
introduces unique online health insurance marketplace
April 8, 2013
/PRNewswire-USNewswire/ -- Businesses throughout
now have a convenient, flexible way to offer their employees healthcare insurance coverage. Blue Cross Blue Shield of
(BCBSAZ) has introduced a private health plan marketplace, available to
The concept, often called a defined contribution plan, is simple and can be explained in three phases:
- Business owners set the fixed dollar amount they'll contribute to employees' health benefits.
- From that point, employees use their employer's contribution dollars to shop the online marketplace and evaluate the ten plan options available, choosing the one that best suits their needs.
- Employees pay toward the monthly premium only if their plan premium costs exceed the contribution set by their employer.
"As healthcare grows more complicated – and expensive – Blue Cross Blue Shield of
is pioneering innovative ways to offer quality, affordable coverage," said
, Vice President, Sales. "This marketplace is simple, effective and specifically designed to work hard for
businesses to bring more value to their health benefits spending."
From a business standpoint, implementing a defined contribution plan allows business owners to better control healthcare coverage costs and plan for the future with increased confidence, while the streamlined administration of the program saves a business time and money. Additionally, offering coverage – especially with a flexible array of options – boosts employee satisfaction.
This new online marketplace will allow employees the ability to select the coverage that's right for their individual health and budget scenario, rather than being locked into a standardized, company-wide plan. The wide array of options helps every employee find something that fits their lifestyle. And to address questions, the marketplace features, robust web and phone support.