Seattle, WA – January 8, 2014 – EmSpring Corporation recently announced the launch of the EmSpring Benefits Marketplace. This online private exchange solution combines state of the art technology with insurance choices from nationwide carriers.
EmSpring Benefits Marketplace is built upon a powerful and proven technology foundation and includes a robust defined contribution platform for employers and their employees. The system makes it easy for employees to quickly and easily compare plan options to determine the best plan for their unique situation and circumstance. To simplify the process even more, users have the option to access a decision support tool to walk them through and ask them questions to determine the best plan choices.
“Historically, the employer would chose the health plan and you were fortunate to have one or two options,” states Ed Haines, VP of Benefits at EmSpring. “Unfortunately, the best health plan is not the same for all employees and this Marketplace will provide the tools they need to select the best match for them. Employers will be able to set a fixed dollar amount (defined) to contribute and employees will spend it as they see fit,” says Haines.
“We’ve been working towards a complete defined contribution model for two years now, and we couldn’t be more excited to launch the EmSpring Benefits Marketplace for our employer clients,” adds Dan Fisher, CEO.
EmSpring consultants will work with their clients to determine which plan options they will offer their employees. Employers can also decide how much they want to contribute or subsidize for their employees. These plan options are then loaded into the Benefits Marketplace and employees can select from the plan designs and coverage level that suits them best during their open enrollment period.
While employees benefit from more plan options, employers too will experience benefits including a lower administrative burden, time and cost savings on activities related to employee benefits and lower compliance risk. Employers will also have access to a comprehensive reporting system that provides accurate, on-demand reports as well as a dashboard and alerts. These tools help to provide employers with the visibility they need to manage their employee benefits more efficiently. As health care costs continue to climb each year, EmSpring Benefits Marketplace is a powerful tool employers can use to control their health care coverage costs while improving financial predictability for budgeting.
About EmSpring Corporation
EmSpring focuses on health insurance and self-funded medical plans, employee benefits, human resource information systems and integrated payroll technology for Pacific Northwest employers. EmSpring goes beyond benefits, providing employers with compliance tools, HRIS & Payroll RFI management, HR consulting, benefit plan audit and design and insurance carrier negotiations. The Washington State company has offices in Seattle, Yakima, Bellevue and Spokane.