Cigna, a health service company, is releasing its proprietary private retail exchange in new markets and is expanding in others. The company is offering employers a cost-effective way to give employees more benefit choices in one place.
The private retail exchange is available to Cigna clients and prospective clients across all of Cigna's U.S. markets, starting September 1. The products available through the private exchange include a variety of medical, pharmacy, dental, vision, life/accident and disability plans. It also includes 24/7 live customer service for medical and dental customers, Cigna's network of physicians and hospitals and integrated health and wellness programs, and both fully insured and self-funded health benefit plans.
With Cigna’s offering, employees can access online, interactive shopping tools to get a personalized recommendation for benefits for them and their families. For employers, the exchange offers a benefits administration platform that enables them to provide employees with more choice of plan designs. It also enables defined contribution funding, while simplifying their administrative responsibilities and helping them control their benefit costs.
“Cigna’s goal is to offer a full range of plan choices to employers and employees and their families as they become more actively involved in their health and benefit choices,” said Dave Guilmette, president, Global Employer and Private Exchanges. “There is a growing interest among employers in private exchange options, and Cigna is meeting this marketplace need.”
