NORTH HAVEN, CT and CHICAGO, IL--(Marketwired - September 19, 2013) -
gbac, Inc. a national employee benefits and consulting firm, announced today that they have selected bswift, a leader in software and services for employee benefits administration, to provide the exchange technology platform for the private marketplace to be offered by gbac. The marketplace is designed to manage costs for employers and offer competitive benefit options for employees by leveraging the robust technology bswift has developed over the last 13 years, including the following functions and capabilities:
- a defined contribution platform for employers and employees
- shopping tools, decision support, and enrollment for employees
- ACA Compliance Tools
- employer tools including reporting, dashboards, and alerts
- Electronic Data Interchange (EDI) files and transmissions to carriers and payroll
- financial management including billing
"Part of our due diligence in evaluating the many exchange platform providers was to peel back the layers and find the most robust and flexible partner on the market," noted Frank B. Mengert, Chief Information Officer of gbac. "bswift has exceeded the offerings of their competitors and delivers a truly customizable solution backed by a team of industry thought leaders setting trends in this market."
gbac has been successful in identifying key channels of distribution that will greatly benefit from the development of a private insurance marketplace utilizing bswift's technology. gbac's CFO, Joseph A Bucci Jr., is proud to announce that the Connecticut Energy Marketers Association (CEMA) is the first association to embrace the private marketplace opportunity [afforded by gbac and bswift] for its members. "The leadership of CEMA is to be complimented on its foresight on the future of health insurance and employee benefits," noted Bucci.
bswift CEO Rich Gallun remarked, "In the increasingly complex world of health care and benefits, gbac's private marketplace will simplify the administration of benefits, help manage costs and offer more choice for consumers. With their expertise and our proven technology, we expect a strong future for exchanges of this type and leaders like gbac."
About gbac, Inc.
gbac, Inc. is a national employee benefit and human resources advisory firm delivering proven solutions ranging from insurance products to human resources consulting to risk management. gbac has continually evolved to meet challenges presented by market conditions, and has embraced the investment in technology-driven solutions to offer efficient and cost-effective products and services. For more information visit www.gbac.com.
Based in Chicago, bswift offers software and services that streamline benefits, HR and payroll administration for employers and public and private exchanges nationwide. bswift's state-of-the-art Software-as-a-Service (SaaS) technology and Business Process Outsourcing (BPO) solutions significantly reduce administrative costs and time-consuming paperwork, making life easier for administrators and millions of consumers who enroll in benefits with bswift. For more information, visit www.bswift.com.