For more information contact:
Carmen Tenuta, 262.619.2684
ctenuta@johnsonbank.com
Johnson Insurance to Launch Private Exchange for Employers
Racine, WI-February 4, 2014 –In the spring of 2014, Johnson Insurance Services will launch a newly created private health insurance exchange called Johnson Insurance Marketplace. The private exchange is an online marketplace where employees can shop for health insurance, based on a defined contribution supplied by their employer. At this time, the private exchange is only available to a business and its employees.
“Our clients asked us to provide them with an alternate benefits model with advantages for both the employers and their employees,” said Mark Behrens, President of Johnson Insurance. “With Johnson Insurance Marketplace, we’re giving employers additional insurance choices and easy-to-use decision-making tools that both the employer and the employee can appreciate and value.”
Johnson Insurance, one of the largest privately held independent agencies in the state of Wisconsin, was started in 1985. With a statewide presence, Johnson Insurance has offices in Kenosha, Racine, Milwaukee, Green Bay, Appleton, Madison, Janesville, Eau Claire, Ripon, Hayward and Rice Lake, Wisconsin.
“Our private health insurance exchange allows employers to control the rising costs of health insurance by contributing a fixed amount,” explained Michael Derdzinski, Senior Vice President of Employee Benefits for Johnson Insurance. “The benefits process for employers will now be streamlined, giving employees additional options and the flexibility to make their own insurance decisions based on their individual needs.”
Although negotiations to include products from additional carriers continue, five insurance carriers have joined and are participating in the marketplace exchange, including
United Healthcare
Humana
Common Ground Healthcare Cooperative
Network Health Plan
WPS Health Insurance/Arise Health Plans
Working with Johnson Insurance, the employer selects an insurance carrier and sets a defined contribution per employee. The carrier then delivers approximately four to six insurance plan options that offer different tiers of coverage. Employees will then be able to compare plan benefits and costs and choose a benefit plan that is specific to them. The employer contribution remains tax deductible.
In addition to health insurance, employees can put together a combination of coverage. They can decide whether they’d like to include dental, vision, life or disability as part of their individual insurance package. In some cases, the employer contribution may cover the additional insurance products.
During the initial rollout, Johnson Insurance professionals will provide assistance to employees as they enter the marketplace. Employees shopping the Johnson Insurance Marketplace also have access to decision-making tools to help guide them through the registration and selection process.
Initially, the rollout will concentrate on businesses in southeastern and northeastern Wisconsin and eventually other parts of the Johnson footprint in Wisconsin.
With more than 160 associates, Johnson Insurance is a member of Johnson Financial Group, a premier financial services company offering comprehensive financial solutions in the areas of banking, wealth and insurance. The $3.9 billion financial services company operates in Wisconsin and Arizona. Principal owners of Johnson Financial Group are members of the Samuel C. Johnson family. Helen Johnson-Leipold is Chairman of Johnson Financial Group and Chairman, Chief Executive Officer and Chairman of the Board of Johnson Outdoors Inc. in Racine, Wisconsin. For more information visit www.johnsonins.com and www.johnsonbank.com.
