OneDigital, the nation’s largest and most technologically advanced employee benefits-only agency, has rolled out its private exchange, Digital Benefits Marketplace, in more than a dozen states with rapid expansion anticipated across the country. Delivering a simple, yet comprehensive benefits solution, OneDigital is working with many of the nation’s leading insurance companies, as well as numerous ancillary providers – ensuring abundant benefit options.
Digital Benefits Marketplace has already engaged more than 100 businesses and enrolled over 10,000 members. It is currently available in Arizona, California, Connecticut, Florida, Georgia, Maryland, New Hampshire, New Jersey, North Carolina, Pennsylvania, Tennessee, Vermont, Virginia and Washington, D.C. Numerous other organizations are expressing interest, and the exchange will expand to additional areas in coming months.
“OneDigital is in negotiations with dozens of carriers with a variety of effective dates,” says Bob Gaydos, national director of private marketplaces for DBA. “While the choice of carriers varies by state, currently, we can confirm participation from Aetna, UnitedHealthcare, Cigna, Coventry, and numerous Blue Cross and Blue Shield plans. It’s a fluid process, and new insurance companies are continuously coming on board.”
“Interest in Digital Benefits Marketplace has been phenomenal,” he adds. “Employers are attracted to the defined contribution strategy, which allows them to operate with a fixed budget, providing long-term financial sustainability. Our solution also delivers distinct advantages including one feature few exchanges can claim – live customer support.”
In addition to an online enrollment system that integrates with carriers and payroll service providers, benefits counselors are available via telephone or online chats to answer questions and walk individual employees through the process. Another competitive plus is OneDigital’s sophisticated infrastructure and call center, which were already in place to operate the system and support individual/family decision-making.
“This enables us to simplify and expedite service,” explains Gaydos. There are no costly set-up fees and implementation is fast. Typically, once employers sign up, members can begin enrollment within a week.”
“Marketplace demand is outpacing our expectations,” says Mike Sullivan, OneDigital’s executive vice president and chief marketing officer. “We have achieved remarkable traction and organic growth in a short period of time. The majority of companies that have signed on to our exchange are new customers to OneDigital.”
Digital Benefits Marketplace includes a choice of health plans plus life, disability, accident, critical illness, long-term care, dental and vision insurance, along with other products and services. Telemedicine and pet insurance are among the selections available.
The private exchange also offers employers an immense degree of flexibility regarding their decision to participate and at what level. Among the options: employers can help finance all benefits or contribute to health coverage only. Another alternative is to exclusively provide ancillary plans if they elect to direct employees to public exchanges for health insurance, yet want to retain an attractive benefits package.
“We’re finding Digital Benefits Marketplace is exceptionally appealing to mid-sized and small businesses,” says Gaydos. “Many didn’t realize participation in a private exchange was possible or weren’t aware it was available in their market.”
“We changed to a defined contribution approach to align the cost of the plans with our approved budget,” says Digital Benefits Marketplace customer Lorrie Foster of Expotechnik America, Ltd. in Atlanta. “We had searched for an online system that would simplify our enrollment and administration. Digital Benefits Marketplace does everything we were looking for and more.”