UBA Sees Increase in Demand for Private Insurance Exchange Products, Employers Requiring More Flexibility
Indianapolis, IN (PRWEB) December 16, 2014 -- UBA Benefits Passport®, a private exchange solution from United Benefit Advisors, has quickly increased adoption -- 30 new groups added in the last six months -- among mid-market employers who want to continue to offer group benefits. UBA Benefits Passport® offers a unique solution to the traditionally underserved mid-market, including a complete benefits program management solution, a large pool of carriers, advanced technology, and customized HR outsourcing services.
Recent studies by Accenture predict that by 2018, private exchange enrollment will exceed that of the public exchange, and according to Mathew Augustine, CEO of Hanna Global Solutions, UBA Benefits Passport® is poised to benefit from this trend by offering solutions that go beyond an insurance exchange and enrollment system, offering more services that can also be unbundled. In addition to insurance, UBA finds employers want access to advisory services, eligibility management, accounting and auditing, and employee support packaged comprehensively as a single, seamless solution with the flexibility to choose a la carte solutions.
“This comprehensive solution now offers a great new way, especially for medium sized businesses, to offer their employees a 'big company experience' with their employee benefit program,” says Augustine. “With UBA Benefits Passport®, employers get a complete benefits program management solution, not just a suite of insurance products bundled into an enrollment system. We offer a choice of insurance carriers, but if an employer prefers a carrier that is not one of the national carriers currently offered through the UBA Benefits Passport network, we have the capacity to add a carrier of choice in order to better serve that client.”
UBA’s private exchange solution is a new way for employers to ease into cost-effective HR outsourcing, a service usually too expensive for mid-market employers to consider. “Because pricing is different for various combinations of services, employers should seek the help of a UBA Partner advisor to develop a cost-effective, custom solution to support their overall benefits and HR staffing strategy," says Augustine.
"UBA Benefits Passport® is a perfect answer for the mid-market employer who wants to continue to offer group benefits, and believes it is a critical component of their employment value proposition,” says Paul Zumbrook, Senior V.P. of Partner Relations for UBA. “We are seeing a huge increase in interest and adoption of this benefits management program because of its flexibility, and we expect this to continue well into 2015 and beyond."
Learn more about how UBA Benefits Passport can provide simple solutions for employers and employees. Visit http://bit.ly/1zcTfvM.
ABOUT UNITED BENEFIT ADVISORS
United Benefit Advisors is the nation’s leading independent employee benefits advisory organization with more than 200 offices throughout the United States, Canada and the United Kingdom. As trusted and knowledgeable advisors, UBA Partners collaborate with more than 2,000 fellow professionals to deliver expertise, thought leadership and best-in-class solutions that positively impact employers and make a real difference in the lives of their employees and families. Employers, advisors and industry-related organizations interested in obtaining powerful results from the shared wisdom of our Partners should visit UBA online at http://www.UBAbenefits.com.
© 2014 United Benefit Advisors. All related trademarks, logos and trade dress are trademarks or registered trademarks in the United States and other countries and may not be used without permission. All other names are property of their respective owners.
Bill Olson, United Benefit Advisors, http://www.ubabenefits.com, +1 317-705-1800, [email protected]
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