Marketplace Name: BCBSAZ private exchange
Technology used to power platform: Array Spectrum™ Private Exchange solution
CEO or Practice Leader: Richard L. Boals –CEO of BCBS of Arizona
Main Location / Headquarters: Phoenix, Arizona
Founded / Exchange Launched: The platform will be BCBSAZ branded and made available later this year for plans effective after March 1, 2015
Website: Please click here
Membership/number of lives currently on platform: Currently not available
Segment size preference (“target business size”): Groups of all sizes (large, medium and small)
States of operation (if available): Arizona
Are employers required to use a defined contribution: No; can support multiple funding models including defined benefit and defined contribution approaches.
Health Carriers Offered: Blue Cross Blue Shield
Ancillary/Specialty Carriers Offered: According to an Array Health press release, the next phase of the strategic multi-year partnership between BCBSAZ and Array Health will include product expansion for offering ancillary benefits including critical illness, disability, term life and others.
Decision Support: BCBS of Arizona will utilize Array’s SmartFit Decision support technology to help consumers select the right plan
How does exchange get compensated: TBD
Do they Utilize Other Technology Company Solutions: BCBSAZ’s private exchange will also leverage Array Health’s Broker Administration Center software module, where brokers can easily manage their accounts and enrollment data and significantly reduce the administrative burden associated with open enrollment, whether that is for group or Medicare products.
Single-carrier or Multi-carrier: Single-carrier