What is an Exchange?


Confused by all the talk about private benefits exchanges? In the broadest sense, an exchange is a forum in which something is given or exchanged for something else. In a private benefits exchange, employees exchange funds — a defined amount provided by their employer, their own funds, or a combination of the two — for benefits that best fit their needs and the needs of their dependents.

Public Exchange

The Public Exchange is a government-regulated marketplace of insurance plans with different tiers, or levels of coverage, offered to individuals without health care or to small companies. Depending on your income and other economic factors, you may or may not qualify for enrollment or subsidized premium under the exchange options. Presumably, the presence of government-regulated exchanges will, like any functioning market, bring prices down so that personal and employer-provided insurance is both comprehensive (i.e .cannot legally skimp out on necessary care or otherwise abuse customers) and competitive (i.e. enough demand will force insurance companies to cut prices to compete).

Find out more about the Public Exchange at www.healthcare.gov.

Private Exchange

Driven by employers’ ongoing need to control benefits costs, private exchanges have become an increasingly attractive alternative for providing benefits to employees. Many firms are offering private exchange solutions to employers, but Web Benefits Design goes further than all of them to customize a private exchange option that is tailored to meet the specific needs of our unique clients. No two systems and product offerings are alike!

Web Benefits Design is the only firm that provides a full range of exchange-related services that are appropriate for employers of different sizes. Built on our own proprietary cloud-based technology platform, the Web Benefits private exchange solution benefits employers ranging from 100 to more than 50,000 employees.

Web Benefits – The Premier National Private Exchange

  • Traditional employer funding, defined contribution and a combination of the two.
  • Every line of coverage including medical, dental, vision, prescription, life, disability, and voluntary benefits
  • Fully insured or self-insured benefits
  • Multiple carriers, payroll and HRIS systems
  • Multiple employee classifications

As the health insurance environment continues to change, our employer clients will change as well. With the WBD Private Exchange solution, we can accommodate your needs with any combination of funding, products, carriers or payroll systems.

When your company makes changes – you won’t have to change benefit administration and technology systems too. You can count on Web Benefits Design to easily handle all your technology, reporting and administrative needs!