Marketplace name: WebInsure Benefits
CEO or Practice Leader: Sanjay Singh-CEO; Mike Baker-SVP & GM of WebInsure Benefits
Main Location / Headquarters: Reston, Virginia
Founded / Exchange Launched: Founded 2009; launched its latest product, WebInsure Benefits October 2014
Website: Please click here
Membership/number of lives currently on platform: Due to the recent launch of WebInsure Benefits’ exchange, this information is not currently available.
Segment size preference (“target business size”): The current segment size preference for WebInsure Benefits’ exchanges is employers with more than 10,000 employees. However, hCentive does not market direct to employers, rather their WebInsure platform is designed for brokers looking to private label the exchange solution.
States of operation (if available): A number of separate brokers and carriers have come together to offer their services to employer groups and individual consumers via exchange technology purchased through WebInsure Benefits, LLC. Some of these exchanges provide national coverage, while others are currently only providing regional coverage.
Are employers required to use a defined contribution: The exchange technology provided by WebInsure Benefits is designed to aid employers with the creation of defined contribution and defined benefits offerings. However, this is not a required step.
Carriers Offered: Kaiser Foundation Health Plan of the Mid-Atlantic States, Reliance Standard, WageWorks
Products Offered: Since the launch, hCentive has added several carriers to its WebInsure™ Benefits marketplace, offering a range of benefits products for individual and group markets – Medical, Dental, Vision, Supplemental plans; Short-Term Disability (STD), Long-Term Disability (LTD) insurance; Life, Accidental Death & Dismemberment (AD&D) insurance; Health & Dependent Flexible Spending Accounts (FSA); Health Savings Accounts (HSA); Health Reimbursement Arrangements (HRA); Consolidated Omnibus Budget Reconciliation Act (COBRA); Commuter & Parking Reimbursement Accounts (CRA); Identity Protection, Wellness, and other programs.
Decision Support: Consumers shopping on WebInsure Benefits’ exchanges are provided with a variety of support tools including side-by-side plan comparisons, cost filters, searchable provider directories, accessible plan details, and more. For consumers needing additional assistance, live help can be reached by phone or email during regular business hours.
How does exchange get compensated: Per Member Per Month (PMPM) cost model
Standard or Custom Product Configuration: Product configurations can vary between carriers participating on WebInsure Benefits’ exchanges.
Do they Utilize Other Technology Company Solutions: Yes, hCentive does work with a number of call centers than can assist with 24/7 live assistance when utilizing the exchange portal.
Single-carrier or Multi-carrier: WebInsure Benefits’ exchanges are multi-carrier by design. However, hCentive’s WebInsure Private Exchange solution can be purchased as a single-carrier exchange platform.