Company name: Connecture
Marketplace name: InsureAdvantage
CEO or Practice Leader: Mitch Ronnei -Director, Private Exchanges
Main Location / Headquarters: Brookfield, WI
Founded/Launched: Company founded in 1997
Website: Please click here
Membership/number of lives currently on platform: TBD
Segment size preference (“target business size”): TBD
States of operation (if available): National
Are employers required to use a defined contribution:
Health Carriers Offered: National and regional carriers
Ancillary/Specialty Carriers Offered: National and regional carrier
Decision Support: There are three levels of decision support tools for consumers when choosing between plans on exchange. First, Connecture helps consumers choose among plan types (i.e., deductible levels) based on the consumers description of their risk tolerance and other survey inputs. Second, Connecture has “network mapping” tools for consumers to visualize the network of doctors and hospitals near to them in a given plan, and check for their preferred providers. Connecture also offers a proprietary “Out-of-Pocket Cost Calculator,” a tool that calculates the total annual cost of any given plan based on individual and family needs, as well as predictable life events.
In addition to online decision supports tools, Connecture also offers “Click-to-Chat” and “Click-to-Call” for live interaction and advice from health insurance solution experts.
How does exchange get compensated: TBD
Standard or Custom Product Configuration: For health plans, Connecture offers a technology platform to distribute pre-designed plans, and is less involved in standardization / plan requirements than exchanges set up by the benefits consultants. For brokers, Connecture is able to leverage existing relationships with 70+ medical carriers, many of whom are multi-state or nationals.
Do they Utilize Other Technology Company Solutions:
Single-carrier or Multi-carrier: Both; Connecture’s single-payer exchange, “InsureAdvantage”, allows health plans to build a private exchange solution for their target employer and consumer markets, adding decision support tools and supporting ancillary benefits for a one-stop-shopping experience. The multi-payer exchange is available for both active and retiree employer populations