ORLANDO, Fla., April 14, 2014 /PRNewswire/ -- PlanSource, a cloud-based provider of benefits administration, exchange, payroll, and HRIS solutions to employers, today announced that it is powering the Choice Benefits Marketplace, the private health insurance marketplace developed by broker Murray Securus.
The Murray Securus Choice Benefits Marketplace offers three different product tiers to employers, based on their size and unique needs:
- The Marketplace tier is an advanced version of a basic healthcare exchange, including defined contribution and advanced decision support
- The Benefits Administration tier offers a secure, online benefits enrollment and administration system that includes the Marketplace as well as benefit customization options, and a system for complying with federal health care reporting requirements
- The Integrated HR tier offers advanced payroll functionality plus a full system for human resources, payroll, and benefits administration
"We're engaging more and more with insurance brokers like Murray Securus who have the vision to see the important role that exchanges will play in employee benefits," said Scott Carver, President of PlanSource. "Technology has matured to take over a critical role in benefits administration in general. Capabilities such as support for ACA compliance and defined contribution - which can help employers control costs - and a marketplace that's based on best practices in online retail shopping provide a better overall experience for both employers and employee users. It's the natural evolution of the benefits space."
"Private marketplaces and empowering employee choice are the future of benefits, especially for small and medium-sized companies," said Bruce Cannon, Vice President, Health Benefits Division, Murray Securus. "PlanSource's adaptable marketplace and benefits administration options, along with their advanced decision support and integrated payroll options, helped us craft a product offer that's much broader than a basic marketplace. It really addresses all of our clients' needs. With the scalability of the PlanSource platform, we expect rapid growth through this year and beyond."
The MyPlanSource platform is a healthcare and benefits exchange platform designed to support defined contribution retail benefits marketplaces. MyPlanSource is a state-of-the-art technology solution designed to provide a full suite of contemporary features and functionality to support a comprehensive benefits marketplace.
PlanSource is a cloud-based, on-demand software provider that revolutionizes the way healthcare and employee benefits are bought, sold and managed with a comprehensive array of integrated services including benefits administration, decision support, payroll, and HRIS technology. PlanSource technology solutions are delivered through strategic insurance carriers, brokers and exchanges who partner with PlanSource in order to increase their retention rates, revenue, and the overall value they bring to their customers. For information, visit http://www.plansource.com.
About Murray Securus
Murray Securus employs over 185 associates and provides solutions in six core areas: risk management, insurance (business and personal), health benefits, third-party administration, wealth management and human resources. To learn more, visit http://www.murrayins.com.