PHILADELPHIA, Sept. 15, 2014 (GLOBE NEWSWIRE) -- Today, Independence Blue Cross (Independence) announces the introduction of a new private exchange marketplace that will offer medical, pharmacy, dental, and vision to employers with more than 100 employees. Employers can begin to use the Independence private exchange on October 1, 2014 with coverage effective on or after January 1, 2015.
The new exchange allows employers to accommodate the diverse health care coverage needs of their employees through a range of plan options, while the guided online shopping tool gives employees the freedom to manage their own shopping experiences. The Independence private exchange also helps businesses effectively manage their annual budgets by giving them the ability to spend a fixed dollar on each employee's health care coverage needs. In addition, groups adding prescription drug, dental, or vision coverage may be eligible for bundling discounts.
"Our customers are unique and so are their employees, which is why we remain committed to offering market-leading, innovative health plans and solutions that fit each of their individual needs," said Linda Taylor, Independence senior vice president and chief sales executive. "The Independence private exchange allows employees to play a key role in their personal health care decisions and make plan selections through an easy-to-use online shopping experience — while providing employers with cost-effective options for managing health care coverage offerings for their employees."
Employee enrollment on the Independence private exchange is simple and straightforward. The online shopping tool guides employees through their options based on each person's preferences, such as how often they like to visit their primary care physician. Then, the marketplace tool will suggest the health care plans that are best suited for each person. From there, employees make their selections and enroll online.
The Independence private exchange is available to both new and existing employer groups headquartered in the Philadelphia five-county area (Bucks, Chester, Delaware, Montgomery, and Philadelphia counties). In addition, Independence is planning to expand the 100+ group product line in 2015 to include other specialty services.
About Independence Blue Cross
Independence Blue Cross is the leading health insurance organization in southeastern Pennsylvania. With our affiliates, we serve more than 9 million people nationwide, including 2.5 million in the region. For more than 75 years, we have been enhancing the health and wellness of the people and communities we serve by delivering innovative and competitively priced health insurance products and services; pioneering new ways to reward doctors, hospitals, and other health care professionals for coordinated, quality care; and supporting programs and events that promote wellness. To learn more about how we're changing the game, visit www.ibx.com. Connect with us on Facebook at ibx.com/facebook and on Twitter at @ibx. Independence Blue Cross is an independent licensee of the Blue Cross and Blue Shield Association.