Obamacare Exchange for Credit Unions Expects April Launch
Credit union technology provider EPL Inc. in Birmingham, Ala., said it expects to launch what it said would be the nation’s first private health insurance exchange for credit unions, their members and communities.
Private and public health care insurance exchanges are forming in preparation for the Patient Protection and Affordable Care Act – popularly known as Obamacare – which requires employers to provide health care insurance for employees.
These Web-based exchanges will give employees and consumers apples-to-apples comparisons of costs and coverage options of various health insurance plans, according to the U.S. Department of Health and Human Services.
Developed with Health Partners of America, EPL’s private health insurance exchange – Credit Union Exchange Blueprint – is expected to go live on the Web in April. HPA in Birmingham, Ala., is an employee benefits administrator.
“HPA will help us develop a comprehensive program that will enable credit unions to better understand health care reform and become the only necessary point of contact for members,” said Wayne Benson, EPL president/CEO.
“The CUEB will train and educate credit union personnel and members, provide all of the tools and technology, as well as supply marketing materials. Credit unions will have access to many heath insurance products in the marketplace and have the assistance to facilitate the transition on behalf of credit union members and employees,” Benson said.
Josh Hilgers, founder of Health Partners of America said, "The CU Exchange Blueprint that we created with EPL is the solution for positioning a credit union in the community, complemented by the wisdom and availability our experts offer. By these standards, this partnership is a proverbial win-win scenario for the credit union and its members."