The CheckPoint HR Blog

5 Key Success Factors For Your Private Exchange

Posted by Julianne Durante on Wed, Mar 12, 2014

Private Exchanges are a trending solution for employers that want to comply with Healthcare Reform, make paying for employee benefits more predictable, and retain talent by offering excellent benefits. But with private exchanges representing a very recent development, what are the key "must-haves" for a good implementation? Here are some improtant questions to ask when examining private exchange or benefits marketplace solutions: 

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Topics: Benefits Marketplace

FAQ - What Is A Private Health Insurance Exchange?

Posted by Julianne Durante on Thu, Feb 20, 2014

Health insurance exchanges continue to be a hot and trending topic for businesses and HR departments. They actually predate the ACA and public exchanges by a number of years, but recent reevaluating of  benefits funding practices  ( coupled with compliance concerns) has made many businesses consider switching to one.  But what is a private exchange?  
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Topics: Benefits Marketplace

4 Ways Public and Private Insurance Exchanges are Different

Posted by Julianne Durante on Thu, Jan 23, 2014

Public insurance exchanges have been getting a lot of attention - both good and bad. With all the talk of public exchanges, private exchanges have also been pushed to the forefront of employee benefits conversations. Private exchanges enable companies to consider alternative benefits funding models, empower employees, and offer an broader range of benefits options.

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Topics: employee benefits, Private Exchange, Benefits Marketplace

4 Reasons Why Employees Like Benefits Marketplaces

Posted by Julianne Durante on Fri, Jan 17, 2014

Private exchanges are becoming more and more popular for businesses every day, not only because they are beneficial for companies, but also because employees react positively to them. Why do employees like benefits marketplaces?

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Topics: employee benefits, Private Exchange, Benefits Marketplace

3 Ways To Approach Paying for Employee Benefits

Posted by Julianne Durante on Tue, Jan 14, 2014

Much has been made of recent news reports highlighting a slowdown in healthcare spending growth. Debates over the underlying reasons will continue, but it's important to note that the cost of healthcare is not decreasing, and that employers still face unpredictable rate increases for group health coverage. How can employers better manage costs and continue to attract and retain great talent for their organization - without breaking the bank? Exploring different funding options is a great place to start.

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Topics: employee benefits, Benefits Marketplace

HR Goes Digital: 2014 Trend

Posted by Julianne Durante on Wed, Jan 8, 2014

Do you spend a lot of time with paper? Completing and keeping track of paper-based forms, documents, and notes can be a huge time-suck. In 2014, take the time to investigate what areas of your work life can be moved to digital systems. 

Organize your life

For documents, notes, and more, investigate a cloud-based system like Dropbox, Evernote, or Microsoft’s One Note.

These help you keep track of everything you need, wherever you need it. Look for a tool that lets you organize documents into folders, use tags, and search easily. You’ll find that it’s much faster to search digital notes than to rifle through stacks of papers.

Digitalize your Benefits

Using online open enrollment (or even a private exchange!) is another way to “go digital” and cut down your to do list. Moving the enrollment process online removes the need for endless paperwork and can make the enrollment process faster. 

Benefits Marketplaces, a special kind of private exchange, focus on delivering employees unprecedented choice over their benefits package. With a Benefits Marketplace, employers can offer a wider range of medical plans and voluntary benefits, which allows companies to entertain competitive bids from many carriers, serve more diverse employee needs, and build employee empowerment. 

Moving to a private exchange can help reduce the administrative load for HR departments, especially over traditional paper-based enrollment processes. Because private exchanges and benefits marketplaces are web portals, they allow for easy data flow. 

One caveat: if you do not select a marketplace with ongoing administrative support for the many benefits you’re offering, you could end up increasing your post-enrollment workload (causing your to-do list to grow instead of shrink). Here are some qualities to look for in a private exchange.

The Takeaway:

Paperless systems and digital documents can save you - and your employees - precious time and energy. 

 

How are you "Going Digital" this year? Join on the conversation in the comments...!

 

 

2014 HR Trend:Going Digital
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Topics: Private Exchange, Benefits Marketplace, HR Trends

2014 HR Trend Alert: Defined Contribution Health Plans

Posted by Denise Bauwens on Mon, Jan 6, 2014

It is no secret that over the past decade the rate of increase for medical insurance premiums rose much faster than income. The national average shows premiums rose 4.9% over the past year… 29.9% over the past five years! So how are businesses handling theses increased costs? What effect is healthcare reform going to have on these trends? 

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Topics: Private Exchange, Benefits Marketplace, HR Trends

10th Annual MetLife Survey of Employee Benefits Trends Report Released – What It Means To Your Business

Posted by Jennifer Camacho on Wed, Feb 13, 2013

MetLife has released the report from their 10th annual survey of employee benefits trends, conducted during the fourth quarter of 2011, and the findings are quite illuminating, especially for small to mid-sized businesses.

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Topics: employee benefits, small businesses, hr spend, Benefits Marketplace, Employee Satisfaction, retaining employees, mid-size businesses, trends, SMBs

Public Health Insurance Exchanges – A Public Option

Posted by Bill Faughnan on Tue, Feb 12, 2013

When it comes to providing employees with benefits, few options are as attractive as health insurance.  Around 18% of the public currently have no insurance, and the upcoming health care reform laws are going to have a big impact on that.  By creating private and public health insurance exchanges, these laws aim to help employers and employees find the best insurance solutions available.  And understanding public health insurance exchanges is a fairly simple matter as well.  With a public option included in private choices, public health insurance exchanges will offer the widest possible range of different insurance choices to ensure that virtually everyone finds the coverage that they need.  Here's a closer look at the specifics of private and public health insurance exchanges.

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Topics: Benefits Marketplace, health insurance exchange