ORLANDO, Fla., Nov. 18, 2014 /PRNewswire/ -- PlanSource, a cloud-based provider of benefits administration, exchange, payroll, and HRIS solutions to employers, today announced the launch of the True Choice Private Marketplace, an advanced healthcare exchange for California employers formed through a partnership with leading brokers The Centennial, Bolton & Company and Sequoia.
As the adoption of private exchanges continues to gain momentum, far-sighted brokers are designing their own marketplace offerings to address the needs of small and midsized employers, who may benefit more than larger employers from the emerging exchange models in the long run. Exchanges give these employers access to greater choice for themselves and their employees, and can help control an employer's healthcare spending through a defined contribution model.
The True Choice Private Marketplace is a PlanSource OneMarket Exchange white-label solution that offers greater choice for selecting benefits and providers, as well as marketing support – all with the quick and easy setup and implementation that brokers have come to expect from PlanSource OneMarket.
"The True Choice Private Marketplace is a great example of how our pre-configured templates for a private exchange provide the easy setup and quick implementation needed to get the marketplace ready for open enrollment this year," said Phil Carollo, EVP of Sales, PlanSource. "The PlanSource OneMarket platform was a perfect fit for the True Choice Marketplace and their desire to differentiate themselves and keep a leadership position in a highly competitive broker market."
"True Choice is the first multicarrier exchange with online enrollment and decision support in the under 100 market in California," said Matthew Hanson, President of The Centennial. "We knew a private marketplace was the right choice, and we also wanted to act quickly to stay ahead of market adoption for exchanges. PlanSource OneMarket offered the rapid time-to-market that we needed, plus the options for greater choice, flexibility, and a retail-like shopping experience that users have come to expect."
The PlanSource OneMarket Exchange provides one source for brokers, employers and carriers to take part in the exchange type of their choice, ranging from a white-label exchange for those who want to build their own branded marketplace to a national proprietary exchange. Both options come with a robust lineup of existing partners, products and plan choices, and PlanSource's powerful admin portal and management platform.
The PlanSource OneMarket online marketplace helps employers give employees more choices of benefits plans, simplifies the enrollment process and helps control healthcare spending by delivering a self-service platform with advanced decision support to educate employees on their options.
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.