ProSential Group, an innovative provider of HR, benefits and payroll solutions, announced the launch of ProSential Exchange at the Fall 2013 ProSential Partner Conference. ProSential Exchange is an online private exchange solution that enables ProSential Group partners to offer competitive benefit options to their clients in an easy-to-navigate platform.
ProSential Exchange 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.
“Just as consumers shop travel sites to select their airline tickets from various vendors, ProSential Exchange will arm employees with that same ease of use in comparison shopping for their health and wellness plan options” said Don Rowe, Managing Director of ProSential Group. “While the upfront costs may be a deciding factor for some, others may choose to compare plans based on other categories like access to a specific physician or one that better aligns with their unique medical needs. The right health plan is not the same one for all employees and this platform will provide them with the tools they need to select the best match for them.”
ProSential’s national network of partners will be able to work with their clients to determine which plan options they will offer their employees. ProSential partners can often negotiate premium rates with participating providers. Employers can also decide how much they want to contribute or subsidize for their employees. These plan options are than loaded into the ProSential Exchange platform and employees can select from the plan design 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 can provide them with 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, ProSential Exchange is a powerful tool employers can use to control their health care coverage costs while improving financial predictability for budgeting.
About ProSential Group
ProSential Group, one of the country’s largest benefit brokerage organizations, is transforming the marketplace with innovative HR, benefits and payroll solutions for small to mid-sized companies. It brings clients a unique combination of best-in-class technology, integrated solutions, and unmatched localized service and support via the ProSential network of benefits brokers. Headquartered in Marblehead, MA, ProSential Group has a growing base of expert brokers and satisfied customers throughout the US. http://www.prosentialgroup.com