Choice Benefits Marketplace

exchange_choicebenefitsmarketplaceCompany name: Murray Securus

Marketplace name: Choice Benefits Marketplace

Technology used to power platform: Powered by PlanSource

CEO or Practice Leader:  Richard M. Rankin, CIC – CEO of Murray Securus

Main Location / Headquarters:  Lancaster, Pennsylvania

Founded / Exchange Launched: Launched Jan. 1, 2014

Website: Please click here.

Membership/number of lives currently on platform: As of March 2014, Choice Benefits had about 5,000 members enrolled

Segment size preference (“target business size”): Businesses with 20+ employees

The Murray Securus Choice Benefits Marketplace offers three different product tiers to employers, based on their size and unique needs:

  • The Marketplace tier is an advanced version of a basic healthcare exchange, including defined contribution and advanced decision support (Ideal for businesses with 20+ Employees)
  • The Benefits Administration tier offers a secure, online benefits enrollment and administration system that includes the Marketplace as well as benefit customization options, and a system for complying with federal health care reporting requirements (Ideal for businesses with 50+ Employees)
  • The Integrated HR tier offers advanced payroll functionality plus a full system for human resources, payroll, and benefits administration (Ideal for businesses with 100+ Employees)

States of operation (if available): Mid-Atlantic and Eastern States Regions

Are employers required to use a defined contribution: Defined contribution is available

Carriers Offered: The Marketplace offers a set of preferred vendors for each of the core and ancillary benefits to employers. The Marketplace plus Benefits Administration tier is completely customizable. Employers are not limited to a set of preferred vendors, but rather are able to customize insurance companies, plans and employer contribution

Decision Support: Offers decision support tools such as plan recommendations, cost calculators and help videos to help simplify the enrollment process

How Does Exchange Get Compensated:

Standard or Custom Product Configuration:

Single-carrier or Multi-carrier: Multi-carrier