How a Private Exchange Works
When compared to traditional group benefits, most employers will find the private exchange option to be much easier to manage.
First step: The employer will join the private exchange. Then, they will select the specific plans they want to make available to their employees.
Second step: Next, the employer will need to allocate a monthly amount (premium) for each employee who will participate.
Third step: Lastly, and most importantly, employees will be given online access to select his/her plan of choice. Accordingly, they will be able to easily manage their benefits online.