ProSential Group, an innovative provider of HR, benefits and
payroll solutions, announced the launch of ProSential Exchange
at the Fall 2013 ProSential Partner Conference. ProSential
Exchange is an online private exchange solution that enables
ProSential Group partners to offer competitive benefit options
to their clients in an easy-to-navigate platform.
ProSential Exchange is built upon a powerful and proven
technology foundation and includes a robust defined contribution
platform for employers and their employees. The system makes it
easy for employees to quickly and easily compare plan options to
determine the best plan for their unique situation and
circumstance. To simplify the process even more, users have the
option to access a decision support tool to walk them through
and ask them questions to determine the best plan choices.
"Just
as consumers shop travel sites to select their airline tickets
from various vendors, ProSential Exchange will arm employees
with that same ease of use in comparison shopping for their
health and wellness plan options" said Don Rowe, Managing
Director of ProSential Group. "While the upfront costs may be a
deciding factor for some, others may choose to compare plans
based on other categories like access to a specific physician or
one that better aligns with their unique medical needs. The
right health plan is not the same one for all employees and this
platform will provide them with the tools they need to select
the best match for them."
ProSential's national network of partners will be able to work
with their clients to determine which plan options they will
offer their employees. ProSential partners can often negotiate
premium rates with participating providers. Employers can also
decide how much they want to contribute or subsidize for their
employees. These plan options are than loaded into the
ProSential Exchange platform and employees can select from the
plan design and coverage level that suits them best during their
open enrollment period.
While
employees benefit from more plan options, employers too will
experience benefits including a lower administrative burden,
time and cost savings on activities related to employee benefits
and lower compliance risk. Employers will also have access to a
comprehensive reporting system that can provide them with
accurate, on-demand reports as well as a dashboard and alerts.
These tools help to provide employers with the visibility they
need to manage their employee benefits more efficiently. As
health care costs continue to climb each year, ProSential
Exchange is a powerful tool employers can use to control their
health care coverage costs while improving financial
predictability for budgeting.
About ProSential Group
ProSential Group, one of the country's largest benefit brokerage
organizations, is transforming the marketplace with innovative
HR, benefits and payroll solutions for small to mid-sized
companies. It brings clients a unique combination of
best-in-class technology, integrated solutions, and unmatched
localized service and support via the ProSential network of
benefits brokers. Headquartered in Marblehead, MA, ProSential
Group has a growing base of expert brokers and satisfied
customers throughout the US.