AGC Partners with Willis North America to Launch New Private Insurance Exchange

Mon, 04/07/2014 - 10:14

"The AGC Alternative: A Private Insurance Exchange" to Debut as Early as Summer 2014   AGC of America is planning to launch a new private insurance exchange in cooperation with Willis North America this summer.  The new exchange, which will be called “The AGC Alternative,” will allow member firms to deliver better health insurance and related benefits to their employees at a lower cost. “This new exchange will make it far easier for member firms to provide top quality health insurance and related benefits for their employees,” said Stephen E. Sandherr, the association’s chief executive officer.  “Our members will now be able to secure the kind of convenient and discounted benefits that a growing number of large employers already enjoy.” The new private exchange should reduce costs and the administrative burden of providing insurance benefits for the 95 percent of member firms that report they already provide health insurance to their employees.  And because the exchange will offer a broader range of options than typically available to individual firms, employers and their employees will get more of the benefits that meet their particular needs. Once preparations are complete, each member firm will each be able to set up its own private company benefits exchange site for employees.  Participating firms will then provide a stipend to their employees, who will use those funds to shop for health insurance and other benefits offered through the exchange.  For more information, please visit http://www.agc.org/exchange.