Introducing IHF’s Private Health Exchange for Health Benefits

JOURNAL: ISSUE 2 - 2015

What’s an Health Exchange?

Confounding the Affordable Care Act’s (ACA) many critics, according to a recent JD Powers and Associates Survey, Americans who purchase their health coverage through the ACA-created state exchanges are often more satisfied with their plans than many with employer-based insurance. That customer satisfaction has a lot to do with the choices available through the public exchanges.

With a similar emphasis on choice and affordability, Private Exchanges with customized benefit options are being developed for participants of private plans such as IHF and considered by BAC Local/ADC negotiated health care plans.

Private Exchanges give eligible members a choice among plans to decide how their health care dollars are spent, resulting in a personalized benefit package the best meets their/their family’s needs.

IHF’s Private Health Exchange

The International Health Fund will roll out the IHF Private Health Exchange this summer with elections effective August 1, 2015. At present, enrollment will be available to Local 5 OK/AR/TX and 8 Southeast members/participants while other IHF Locals consider adopting this approach. Eligible members in participating Locals will be given several choices in plans with varying deductibles, eligibility rules, as well as Health Reimbursement Account options at the time of initial eligibility. Members will be able to compare provider networks and other factors in order to make the choice that’s best for them. Each year, members will have a chance to make a new election during open enrollment each August. 

The IHF staff manages all eligibility and enrollment in the Exchange and also provides all customer service.

Says IHF Executive Director Robin Donovick, “We look forward to rolling out this new program and service for our BAC members.”

More facts about IHF’s Private Health Exchange choices:

• The IHF is a Single Carrier Health Exchange, meaning the medical health plan will continue to be administered by United Healthcare, with Prescription Drug coverage provided by SavRx.
• Most plans include dental coverage provided by Delta Dental and vision by VSP.