First Niagara Announces the Launch of Its Benefits Exchange
First Niagara Benefits Consulting recently introduced its private insurance exchange solution, which will be offered to businesses with 100 or more employees.
Officials said that the First Niagara Benefits Exchange can accommodate a wide range of employer contribution approaches when offering employee benefits. It is fully equipped with powerful Web-based decision support tools and a professionally staffed call center.
By using the First Niagara Benefits Exchange, employers can offer their employees more choices and enhanced understanding of their healthcare expenses. Doing this, they can further reduce their overall healthcare spend.
With the help of the exchange, employers can also leverage the FNBC team's extensive experience in building and administering flexible contribution models and private exchanges to simplify benefit plan administration and deliver seamless enrollments.
"Providing superior choices and robust decision support tools, we enable employees to select benefits best suited to meet their unique cost and coverage objectives," said Bill Hartz, senior vice president of First Niagara Benefits Consulting. "We are thrilled to offer superior options to our clients and help reduce over-insuring especially given the changing health insurance environment."
The exchange has been designed to allow employees to choose from the best complement of benefit options for themselves and their families.
bswift, a major player in software and services for employee benefits administration and exchange solutions, will offer the exchange technology platform for the First Niagara Benefits Exchange.
"We are delighted to be working on an exchange solution for FNBC clients, given the long history of our successful partnership with the FNBC team. Technology provided by bswift, combined with the highly personalized service delivered by FNBC, will set the First Niagara Benefits Exchange apart from the competition," noted Rich Gallun, CEO of bswift.
Edited by Alisen Downey