Marketplace name: Hub International Private Exchange
Technology used to power platform: Liazon’s Bright Choices platform
CEO or Practice Leader: Martin P. Hughes, Chairman and CEO, Hub International Limited; Joseph Torella, President, Employee Benefits for Hub International Northeast and National Employee Benefits Practice Leader
Main Location / Headquarters: Chicago, IL
Founded / Exchange Launched: Launched in 2012 in NYC and metro area; expanded in 2013
Website: Please click here.
Membership/number of lives currently on platform: TBD
Segment size preference (“target business size”): Mid-market companies
States of operation (if available): Hub International launched the Bright Choices Exchange platform in a limited number of markets in 2012 but is now expanding the availability of the platform nationwide.
Are employers required to use a defined contribution: Yes
Carriers Offered: As on 2013; the national carriers participating include Aetna, Allstate, Anthem, MetLife, and United Health Care, with several more in discussion. Additionally, regional carriers have been selected by each Hub regional employee benefits team based on their ability to deliver best-in-class solutions to clients in local markets.
Decision Support: Utilizes Liazon’s Bright Choices decision support technology. When employees login to Bright Choices, they will have access to a questionnaire which leads them through a series of questions, and then makes recommendations given their health profile, financial status, risk tolerance, and preferences. It reveals the actual cost of benefits and educates them to make informed decisions.
How does exchange get compensated:
Standard or Custom Product Configuration:
Single-carrier or Multi-carrier: Multi-carrier