Marketplace name: RKXchange
Technology used to power platform: Employee Navigator
CEO or Practice Leader: John F. Murray, Jr. –CEO of Rose & Keirnan; Robert Kuelzow –Senior Vice President of Rose & Keirnan
Main Location / Headquarters: East Greenbush, NY
Founded / Exchange Launched: 2013
Website: Please click here
Membership/number of lives currently on platform: As of July, 2015 — Rose & Keirnan’s private exchange currently has 42 companies and 22,000 employees and family members. Additionally, Kieth Dolan, the company’s senior VP, said Rose & Kiernan is in discussions with 25 to 30 new companies that are considering a move to the private exchange.
Segment size preference (“target business size”): 20 or more workers; Plans will be available in three size categories—20 to 50 employees, 51 to 99 employees, and 100 or more employees.
States of operation (if available): NY
Are employers required to use a defined contribution: Not required, but employers will be able to opt for a defined contribution approach
Carriers Offered: Rose & Kiernan has received commitments from the four major carriers serving the Albany market—CDPHP, MVP Health Care, BlueShield of Northeastern New York and Empire Blue Cross. The RKXchange will allow employers to choose a carrier and then let their employees select from the five or six plans that company is offering.
Decision Support: Rose & Kiernan will provide counselors to guide people to the product that is right for them
Standard or Custom Product Configuration: Depends on client
Do They Utilize Additional Technology Company Solutions: Yes
Single-carrier or Multi-carrier: Multi-carrier