SOURCE: United Benefit Advisors

Beth Grossman Makes Things Happen

October 31, 2013 06:00 ET

United Benefit Advisors Launches Private Exchange Marketplace for Large Group Employers

Available Exclusively Through UBA Partner Firms, Benefits Passport® Supports Major Carriers, Provides Employer-Defined Level Contributions and Includes a U.S.-Based Advocacy Center

INDIANAPOLIS, IN--(Marketwired - October 31, 2013) -  United Benefit Advisors® (UBA), the nation's leading independent employee benefits advisory organization, today announces the launch of Benefits Passport, a private insurance exchange marketplace exclusive to UBA Partner Firms. Based on a defined contribution model, Benefits Passport will serve large group employers (more than 50 employees) and provide a full suite of services such as online enrollment, an employee contact center, accounting, payroll deduction reporting and billing. Benefits Passport is an open source program that can support all major insurance carriers as well as any carrier with a standard data feed. Benefits Passport is an affordable insurance option to help employers reduce costs, increase efficiency, simplify administration and provide exceptional value to employees in the face of health care reform.

The online exchange, set to open Nov. 1, 2013 for coverage to start Jan. 1, 2014, will allow employees to buy health care insurance from a choice of carriers, including Aetna, Cigna, Blue Cross and more, 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 is 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," says Paul Zumbrook, Senior Vice President of Partner Relations for UBA.

Thom Mangan, UBA CEO, states, "Like all things UBA, we decided to create a unique and proprietary product that was exclusive for our UBA Partner Firms to better serve their clients. This self-service platform provides employees an opportunity to compare plans and make more informed decisions based on their health care and financial situation, making them better consumers."

Benefits Passport is Powered by Hanna Global Solutions (HGS), a UBA Partner Firm located in Concord, Calif. HGS has more than 20 years of experience managing benefit programs for technology services companies and currently serves more than 50,000 employees. Their long-tenured team provides extensive experience and unique insight into end-to-end benefits administration, plan designs and pricing strategies that save clients millions in health care costs. HGS has developed numerous proprietary processes, technology platforms and other tools that help manage complex client business models.

"This platform is easy to manage and includes a U.S.-based advocacy center that provides employees around-the-clock access and emergency support -- features that set Benefits Passport apart from other platforms on the market," says Mathew Augustine, COO for Hanna Global Solutions. "Simply put, Benefits Passport enables employees to enroll in and monitor their health plans, and also to receive guidance, with minimal employer assistance." 

Visit www.benefitspassport.com for further information or to contact a participating UBA Partner Firm.

About United Benefit Advisors
United Benefit Advisors is the nation's leading independent employee benefits advisory organization with more than 200 offices throughout the U.S., Canada and the U.K. Visit www.UBAbenefits.com.

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