A Business Owner’s Guide to

Private Exchanges

Without Private Exchanges

87 percent of companies only offer their employees one option for a health care plan.

Employees don’t have the opportunity to compare different plans or overall costs.

A Better AlternativePrivate exchanges are a new solution created to give

employers an affordable option while giving employees more choice. Rather than making health care decisions for your employees, you give them an allowance and they

go shopping. It’s like an online benefits store.

That means every employee has a choice and can select a plan that best fits their lifestyle and needs.

GlidePath and Coverage for Companies

Blue Cross Blue Shield’s first private exchange option, GlidePath, started in 2011 and was one of the first private exchange options in the U.S. Coverage

for Companies was created out of a need for a solution for smaller businesses looking to offer their employees health care coverage.

Blue Cross continues to offer two private exchanges: GlidePath, for companies with more than 51 employees, and Coverage for Companies, for

those with 50 or fewer employees.

Blue Cross covers one in two Michiganders – offering support and a breadth of coverage across the state.

A Simpler Process

HR managers and business owners work with an advisor to develop a health care budget. Pretax dollars are deposited into an account for each employee. This is their allowance.

You select the health plans you want to offer, choosing from HMOs, PPOs and Consumer-Directed Health Care options, which pair comprehensive, low-premium plans with tax-advantaged funding accouts.

During open enrollment, your employees access the allocated funds to shop for their benefits on the private exchanges.

Online enrollment support tools help employees choose the right benefits.

How Do Private Exchanges Benefit You?

You can control how much money is allocated on health care spending. Meaning, you can stabilize your increases from year-to-year.

The process is simple and easy, with online and one-on-one support helping your employees through the process.

The Benefits for Your EmployeesGreater choice in health care plans, meaning they can choose the

option that’s right for them.

Support from licensed Blue Cross GlidePath and Coverage for Companies advisors to guide them through the process.

The ability to work with different financial situations and pick a plan that has the premiums and out-of-pocket expenses that fit with their unique

household budgets.

The New Normal

These days, 33 to 45 percent of employers either have moved or are planning to move their employee benefits to a private exchange over the next several years.

An online marketplace is an innovative way of helping your employees find a plan that caters to their needs, rather than a “one size fits all” approach.

STAY CONNECTED & LEARN MORE

Blue Cross Blue Shield of Michigan and Blue Care Network are nonprofit corporations and independent licensees of the Blue Cross and Blue Shield Association.