Aetna Marketplace

aetna-logoCompany name: Aetna

Marketplace name: the Aetna Marketplace

Technology used to power platform: On November 25, Aetna announced it has acquired bswift, a health insurance exchange technology and benefits services provider whose technology platform offers a retail shopping experience for public and private health insurance exchanges and employers nationwide. Aetna intends to use the bswift capabilities to build the next generation of its private exchange offerings. 

CEO or Practice Leader:  Mark Bertolini РCEO ; Cathy Gobes РPrivate Exchange Practice Leader

Main Location / Headquarters: Hartford, CT

Founded / Exchange Launched: Aetna launched its proprietary private exchange, Aetna Marketplace, in the third quarter of 2013 in Florida and Illinois and expanded in November 2013 to New Jersey, Maine, Georgia and Texas, according to spokeswoman Susan Millerick.

Website: Please click here

Membership/number of lives currently on platform: TBD

Segment size preference (‚Äútarget business size‚ÄĚ):¬†Aetna Marketplace was rolled out in 2013¬†to the small group market, consisting of employers with fewer than 50 workers, and expanded to the middle market in 2014

States of operation (if available): 

Are employers required to use a defined contribution: No; defined benefit or defined contribution

Carriers Offered: Aetna + Limited Carriers

Decision Support: Offers decision support technology

How does exchange get compensated: TBD

Standard or Custom Product Configuration:  TBD

Do they Utilize Other Technology Company Solutions: Yes. In November 2014, Aetna announced that it has completed its acquisition of privately held bswift, which provides a technology platform that offers a retail shopping experience for health insurance exchanges and employers nationwide. Additionally, bswift offers benefits administration technology and services to employers.

Single-carrier or Multi-carrier:¬†¬†Both.¬†Aetna offers plans to employers on approximately 20 third-party private exchanges. The company also offers its own proprietary private exchange solutions for small, mid-sized and large employers, along with single and multi-carrier options for retirees. In addition, the company ‚Äúwhite labels‚ÄĚ exchanges for brokerage firms, trade associations and other organizations. For example, Aetna is the architect of¬†the¬†multi-carrier Retiree Health Access program offered by HR Policy Association, for large employers and their retirees. Most recently, Aetna worked with Sam‚Äôs Club to offer a private exchange for small businesses.