PITTSBURGH, PA Oct. 24, 2012 – Highmark announced today that it is expanding its defined contribution platform to support small business and Medicare-eligible retiree health care choice throughout its Pennsylvania service areas.
Through Array Health, a leader in health insurance exchange technology and services, Highmark’s defined contribution platform gives employers the ability to set a monthly fixed dollar allowance for employees or Medicare retirees who use this money to go to an online insurance store to select from a menu of health plan and ancillary product options.
“Many employers tell us that they want predictability in their health care costs, and their employees and retirees tell us that they want coverage and choice,” said Steven Nelson, senior vice president of health services strategy, product and marketing at Highmark. “The defined contribution platform offers both solutions at a time when employer and retiree health and ancillary coverage are at a crucial decision point in regard to health care reform: can we afford to offer it any longer?”
For small business customers, or those covering 10 to 99 individuals, myBenefits offers four predefined sets of its most popular medical plans, each with five medical options, including HSA-qualified and HRA options. These options provide a reasonable price spread to suit the needs of each business. In addition, employers have the ability to include three dental and two vision plans as well as critical illness and accident coverage.
For employers and unions offering traditional group retiree benefits, myRetireeBenefits provides an alternative that helps them manage retiree medical spending while giving their Medicare-eligible retirees the benefit of choice and security of Highmark’s coverage and service. The platform provides Medicare-eligible retirees a choice of several group Medicare Advantage and Medicare Supplement plan options. In most cases, these plans are available to retirees nationwide. The retiree platform also utilizes a dedicated call center for decision support.
Highmark uses Array Health’s insurance exchange platform that includes a Product Marketplace with decision support tools that make it easy for employees to compare, choose and enroll in plans that fit their specific health needs. It also includes an Administration Dashboard where employers and brokers can access all the information they need to administer the company’s health benefits.
About Array Health
Array Health is a leading provider of private insurance exchange technology. Its cloud-based software platform enables health plans of any size to power their own branded online exchanges – a strategic channel that helps them compete and thrive in the post health-reform world. With Array Health’s state-of-the-art member marketplace and support for defined contributions, insurers win and retain business by giving employers a way to control costs and members a better way to buy benefits. Array Health is a privately held company based in Seattle. To learn more, visit www.arrayhealth.com.
For Array Health