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Corporate Synergies, a national, leading employee benefits broker and consulting firm, announces the availability of its insurance marketplace, SynergiesSELECT℠. The intent to offer a private exchange/marketplace was announced previously; now SynergiesSELECT is fully developed and available to employers and their employees.
"The still emerging health insurance landscape demands new solutions that put consumers at the center of the strategy while being mindful of corporate realities," said John Turner, CEO of Corporate Synergies Group. "This solution is built upon our deeper understanding of both employer and employee requirements. In short, employers get more predictable costs; employees get more choice."
SynergiesSELECT is a decision support solution to help employers efficiently manage their benefit costs while providing their employees with choice and flexibility in healthcare. It is part of the larger Synergies360℠ suite, an innovative approach to managing employee benefits. As such, it offers multiple advantages to employers and their employees, including:
- Employee advocacy — participants in SynergiesSELECT will have access to BenefitsVIP®, Corporate Synergies℠ employee advocacy program that assists users in navigating their health and welfare benefits in order to use them efficiently.
- Compliance guidance — employee benefits compliance needs are escalating for employers. Corporate Synergies ensures plan compliance and helps clients understand and address any compliance issues.
- An intuitive user interface — SynergiesSELECT utilizes SmartBen's cloud-based employee benefits exchange platform. Co-developed with Corporate Synergies, this tool supports various models including traditional and voluntary benefit plans along with the services for which they are known.
- Employee education and communications — employees placed into a private exchange/marketplace will have an opportunity to customize benefits to suit their requirements, but they'll also have responsibility to choose the right program. Corporate Synergies will offer employee education and communications materials and support to help users make smart choices.
- Cost savings — with group employee benefits costs projected to rise in 2014, SynergiesSELECT offers flexibility and cost savings for employers.
- Cost certainty — because SynergiesSELECT enables employers to offer employees a defined contribution that allows the user to customize the health and welfare benefits they receive, employers will eliminate surprises.
"In our discussions with clients and others in the industry, the concept of an insurance marketplace is what everyone is talking about," said Andrew Bloom, Corporate Synergies' Executive Vice President of Operations. "Armed with our deep understanding of what works for both employers and their employees, we decided to create a private exchange/marketplace that helps our clients effectively manage and control costs associated with benefit programs. SynergiesSELECT combines intelligence, choice, employee advocacy and compliance, resulting in a perfect solution to meet the challenges of healthcare reform."