Private health care exchanges have emerged as a different model. This new option helps employers keep heath care costs predictable and gives employees the power to choose their own health care plan.

1. CoverageForCompanies®:
The Private Exchange Focused
on Small Businesses

2. Private Exchange History
For decades, employers have offered health care to their employees
using a defined-benefits model, where the employer determines what
health benefits are offered to all employees.
But more recently, private health care exchanges have emerged as
a different model. This new option helps employers keep health care
costs predictable and gives employees the power to choose their own
health care plan.

3. CoverageForCompanies
Blue Cross Blue Shield of Michigan’s private exchange designed
specifically for small businesses with up to 50 employees
It gives employees the freedom to shop for plans that best fit their
individual needs, while allowing business owners to better determine
how much they will put towards health care every year.

4. How CoverageForCompanies Works
There are four easy steps:
1. Determine a budget
2. Decide which plans to offer
3. Allocate funds
4. Have employees shop for benefits
Let’s take a deeper look at how your business can execute these four
basic steps to implement a CoverageForCompanies private exchange.

5. 4 Easy Steps
1. Determine a budget: As a business owner, you’ll determine
how much to spend annually for health benefits. Once a budget
has been established, you’ll decide how much you’re going to
allocate toward each employees’ health care costs.

6. 4 Easy Steps
2. Decide which plans to offer: With a variety of product
suites to choose from, each with multiple plan options, that include
medical, dental and vision coverage, you can pick the suite that
will work best for your employees. Product suites include HMO,
PPO and consumer-directed health care options.

7. 4 Easy Steps
3. Allocate funds: Business owners allocate the determined
amount of pretax dollars into an account for each employee.
Employees will be able to access those funds when shopping for
their health care plan.

8. 4 Easy Steps
4. Have employees shop for benefits: Employees shop for
a health plan online. They can select the plan in the suite that best
fits their unique needs. It’s like an online benefits store with
multiple plans to choose from, ranging in costs and benefit levels.

9. Transitioning to a new health care plan can be hard on the employees,
employers, office managers and human resources personnel, which is why
CoverageForCompanies agents are there every step of the way. Agents will
ensure employees and employers have a smooth transition.
The Future of Health Care

10. CoverageForCompanies is a way for both employees and employers to better
maximize and customize health care benefits. Small business owners benefit
from being able to set a specific amount of company funds to contribute toward
employee health benefits. In turn, employees can choose the level of coverage
and type of plan that’s right for them.
Click here to learn more about CoverageForCompanies, and how it can
help improve employee health care offerings for small businesses..
The Future of Health Care

11. STAY CONNECTED & LEARN MORE
Blue Cross Blue Shield of Michigan and Blue Care Network are nonprofit corporations and independent licensees of the Blue Cross and Blue Shield Association.
bcbsm.com/exchange
Action Benefits and Grotenhuis are authorized independent Managing Agents of Blue Cross Blue Shield of Michigan and Blue Care Network.
CoverageforCompanies is an enrollment tool owned and provided to Action Benefits and Grotenhuis by TAC Interserv Services.