The FMA Health Insurance Exchange is an online marketplace where members and their employees, can compare and purchase products and services from insurance providers that compete for business within the exchange.
Unique decision support technology within the exchange is backed by licensed benefits counselors trained specifically to work with FMA members.
The FMA Health Insurance Exchange is a multi-carrier private exchange designed for FMA members and their staff and dependents. Available to both individuals and employer groups, the exchange offers a wide range of health insurance choices and more.
As a small employer group, chances are you fall into one of the following predicaments:
Either way, there’s a new alternative. Under the Affordable Care Act, businesses with fewer than 50 full-time equivalent employees will not be penalized for not providing group health insurance to their employees. An alternative concept to offering group insurance is for small employers to provide a way for their employees to purchase their own individual coverage on the public or private exchange.
Beginning with effective dates of January 1, 2014 and thereafter, all health insurance plans available through the exchange cant turn you or your employees down or charge you more because you are sick or have a health condition. So you don’t have to worry about one of your employees being denied coverage.
Just as every employee is unique, so are their benefit needs. Employers now have a way to address the different requirements of each employee, while also managing the company’s bottom line. That means cost control and predictability for the employer, and greater involvement and choice for the employee.
Employers create a private exchange account, choose the benefit plan options to make available, set up a defined contribution strategy, and allow employees to shop for their own benefits.
Request a Quote and we’ll give you an analysis and cost breakdown of how the private exchange might work for you and your employees.