Imagine having the ability to shop for health insurance the same way you shop for other products online. You search for the product, read a straightforward description, decide which size fits best, and add it to your cart. It’s a simple process, one that people execute daily. Enter Nexben: a modern, digital and end-to-end insurance marketplace for brokers, employers and employees that takes care of everything. Nexben facilitates the entire process of searching and choosing health insurance: from quoting and proposing to enrolling and billing.
With Nexben, an employer or HR representative can compare quotes from over one million healthcare options from insurance carriers, choose a health plan within an all-in-one portal, and control costs for their company. In turn, Nexben’s efficiency can increase business for you as a broker by removing a convoluted paper trail and allowing your client to choose what fits their employees best.
As healthcare costs continue to rise, employers are looking for cost-effective solutions for themselves and their employees. Brokers and agents have had their hands full sifting through the available plans on paper, creating spreadsheets and explaining them to their clients. Nexben helps carriers, brokers, employers and employees interact in real-time and makes the selection experience both easier and more cost-effective.
How the Nexben end-to-end process works
First, the broker seamlessly generates multi-carrier quotes including products from medical, dental, vision, disability income and life insurance providers, plus HSAs and HRAs. All of the necessary documents are captured in one place, and accessible at any time.
Then the broker develops a proposal for the employer that includes a generated side-by-side comparison of plans for employees. Together, the broker and employer are able to make real-time changes to the proposal, running any combination of carrier products, plan types and contribution strategies. Exact quotes from multi-carriers in the marketplace can be provided instantly, which gives the employer the ability to compare options directly and choose which plans they feel will fit their employees the best. This proposal can be easily converted into a paperless Nexben enrollment and then the employee can begin the selection process.
The employee can use their personalized online portal to compare plans and choose which they’d like to enroll in. The all-in-one portal allows for employees to browse the options, select which they prefer, and enroll right away with an eSignature. All plan documents and descriptions are available on the platform, and can be accessed at any time.
Once the employee is enrolled, the employer can view, pay and track employee’s premiums using the Nexben dashboard. This dashboard eliminates unreliable paperwork and also gives the employer the opportunity to manage administrative tasks and allows for adjustments to be made in real-time.
Learn more about Nexben, or our ICHRA-solution Trovia.
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