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New Private Exchange for Health Insurance Coming to New Jersey
Date:5/6/2013

(PRWEB) May 06, 2013

For New Jersey commercial group employers looking for new solutions for controlling health care costs while providing their employees with more choices and control in selecting an affordable health insurance plan that best meets their individual needs, Horizon Blue Cross Blue Shield of New Jersey just made life a little easier. Horizon BCBSNJ announced today the creation of Horizon Select, an online private marketplace (also known as a private exchange), that will be available for certain New Jersey employers this July.

Horizon Select will offer commercial group employers a simple way to set up a defined contribution health insurance plan to manage their health care costs. Under such a plan, employers provide a lump sum of money (a defined contribution) to their employees to purchase a health plan on the Horizon Select website. Employees will be able to review a number of Horizon BCBSNJ health plans on the Horizon Select website and simply choose the health plan that best meets their needs and budget. Horizon Select will be available for employers with more than 50 employees.

“Employers are looking for innovative ways to offer their employees the ability to choose an affordable health insurance plan that meets their individual needs and Horizon’s online private marketplace will allow them to do so,” said Christopher M. Lepre, senior vice president of Market Business Units for Horizon BCBSNJ. “With Horizon Select, we’re offering employers the ability to manage health care costs over the long-term and to offer their employees a personalized experience to choose a health plan that is right for them.”

Horizon BCBSNJ is working with Bloom Health, a leader in creating defined contribution health benefits marketplaces for employers and employees, to create Horizon Select. Bloom Health, which operates nationally, has expertise in designing a simple consumer experience and transforming the way
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