The Florida Retail Federation has launched a private health insurance exchange for its members. The exchange allows businesses to shop for group coverage plans and lets employees sign up.
It’s the latest in a growing number of private insurance exchanges coming into the system.
“This is for the mom-and- pops, and some businesses up to 1,000 to 2,000 employees, if they’re interested," says Federation spokesman James Miller. " It’s to help them get compliant, and save confusion amongst employees and employers.”
The exchange goes live October 1 and will be fully up and running when open enrollment begins in January. It’s a move to help businesses better control healthcare costs, which have jumped in recent years.
Many business are mandated to offer full-time employees insurance or pay fines under the Affordable Care Act. The private exchange helps businesses comply with the law.