Assurex Global launches employee benefits marketplace platform
Lyons Companies, an Assurex Global partner, announced Feb. 25 a unique private marketplace platform that gives employers the widest range of administrative flexibility and employee health benefit options in the industry.
“There is nothing like this in the market today,” said David F. Lyons Sr., president and chief executive officer. “Our platform now gives employers and their employees maximum choice in designing a benefits plan that works for them.”
In collaboration with employee-benefits outsourcing partner Businessolver, the platform provides the widest range of administrative flexibility available to employers, no matter what benefits decisions they make in response to new provisions of the Affordable Care Act in 2014. Those changes include the creation of insurance exchanges, which Assurex Global President and CEO Jim Hackbarth said have caused widespread confusion.
“Employers have been struggling for years with ever-increasing medical costs,” said Hackbarth. “Healthcare reform requirements further complicate the decision-making process. This product not only helps employers budget for the future, it expands employee options, thereby allowing them to choose the best plan for themselves.”
The Assurex Global marketplace platform allows employers to maintain a competitive advantage by offering best-in-industry benefits while removing the heavy lifting of benefits administration. Among the key advantages are the following: the ability to choose either a defined contribution or a defined benefits plan; a prepackaged set of medical and ancillary benefits for employers and their employees; support for Affordable Care Act record-keeping responsibilities; a single-source administrative package; marketplace business data integration; and decision support tools that make employee choice easier.
Assurex Global, the world’s largest privately held commercial insurance, risk management and employee-benefits brokerage group, expects to begin adding employers to the marketplace platform by the second quarter of 2013.
Privately owned Lyons Companies is Delaware’s largest independent risk management and insurance brokerage firm. Lyons Companies offers commercial insurance, employee benefits consulting and personal insurance through offices in Wilmington and Rehoboth. To learn more, go to www.lyonsinsurance.com.