Under “My Blue Choices,” rather than setting a percentage contribution and giving employees two plans to choose from, employers insured by Blue Cross with more than 20 employees can select a defined dollar amount for their contribution toward employee health care costs and then let the employees choose from a preselected list of options at true market price.
In addition to giving employees more freedom over their benefits, Blue Cross said the new exchange will also help employers control their long-term health care costs, since contributions won’t be tied to a specific percentage that could increase the contribution under inflation or fluctuating medical plan costs.
My Blue Choices launched earlier this year and currently operates 12 accounts for Massachusetts companies. More than 5,000 Blue Cross accounts in the state are eligible for My Blue Choices, the BBJ said.
Both UnitedHealthcare and Blue Cross currently offer plans through HealthSource RI’s Small Business Health Options Program marketplace, but private carrier exchanges like Multi-Choice and My Blue Choices could represent competition for the state-run exchange.
Join PBN for the best networking event and party of the winter - January 15, 2015 - the Book of Lists Party at the Providence Public Library. Reserve your spot by December 31st and get a holiday gift from PBN!
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.