BOSTON--(BUSINESS WIRE)--Fidelity Investments® today announced the launch of Fidelity Health MarketplaceSM, which offers one-stop access to health and wellness benefits to small and midsized businesses and their employees. Fidelity Health Marketplace offers employers the ability to choose from an extensive network of national and regional medical, dental, vision, and life benefits in addition to tax-savings options and access to wellness tools and programs. Several customers in Massachusetts and New York are already using the marketplace.
“We are pleased to be launching Fidelity Health Marketplace to bring the next evolution of the private health exchange model to small and midsized employers and their employees,” said Joe Laurin, president of Fidelity Health Marketplace. “Today, technology helps us to do almost anything online and benefits should be no different, regardless of a business’ size. We’ve created a user-friendly online experience that centralizes all of an employee’s health benefits in one place while alleviating the burden of benefits administration and expanding choice for this underserved market.”
The private exchange market continues to grow, and it is estimated that approximately 18 percent of the American public will purchase insurance through these exchanges by 20171. However, small and midsized employers have largely been left out of the private exchange boom as many firms have historically focused on larger companies.
“As health care regulation, complexity and cost increase, and benefits selection becomes more consumer-driven, employers need help simplifying the experience for their employees,” continued Laurin. “This doesn’t just mean education on which benefits to choose during annual enrollment, but how to use them. Fidelity Health Marketplace’s 365-day experience is designed to educate employees and is supported by Fidelity’s customer service. Adding Fidelity Health Marketplace to Fidelity’s suite of services provides an integrated health and financial offering to this market.”
“Fidelity’s roots are in providing our customers with the tools and products they need to help them feel secure about their financial future,” said Mike Wilens, president of Enterprise Services at Fidelity. “We’ve created Fidelity Health Marketplace to offer small and midsized employers more choice when it comes to integrated health benefits.”
Fidelity Health Marketplace offers full-service support beginning with assisting clients in determining the right plans to offer their employee base. The marketplace includes a decision support tool to help employees select benefits while also creating an integrated experience with Fidelity NetBenefits®, offering employees access to all of their health and financial benefits, including the Fidelity HSA®. The platform uses hCentive’s WebInsureTM Benefits private exchange technology platform, which offers an integrated enrollment experience and pre-configured connections to a network of insurance carriers and a range of health and other ancillary benefits.
For more information on Fidelity Health Marketplace and to view a video about the offering, please click here.
About Fidelity Health Marketplace
Fidelity Health Marketplace offers one-stop access to health and wellness benefits to small and midsized businesses and their employees. The platform offers employers the ability to choose from an extensive network of national and regional medical, dental, vision, life and disability benefits, tax-savings options and access to wellness tools and programs and a decision tool to help employees select benefits, all backed by Fidelity’s customer service. Fidelity Health Marketplace is a Fidelity Investments company. For more information, please visit www.fidelityhealthmarketplace.com.
About Fidelity Investments
Fidelity’s goal is to make
financial expertise broadly accessible and effective in helping people
live the lives they want. With assets under administration of $5.2
trillion, including managed assets of $2.1 trillion as of Nov. 30, 2015,
we focus on meeting the unique needs of a diverse set of customers:
helping more than 24 million people invest their own life savings,
nearly 20,000 businesses manage employee benefit programs, as well as
providing nearly 10,000 advisory firms with technology solutions to
invest their own clients’ money. Privately held for nearly 70 years,
Fidelity employs 42,000 associates who are focused on the long-term
success of our customers. For more information about Fidelity
Investments, visit https://www.fidelity.com/about.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
Fidelity, Fidelity Investments and the Fidelity Investments and Pyramid
Design logo are
registered service marks of FMR LLC. Fidelity
Health Marketplace, NetBenefits, and Fidelity
HSA are registered
service marks of FMR LLC.
The third party trademarks appearing
herein are the property of their respective owners.
hCentive and
Fidelity Investments are not affiliated.
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© 2016 FMR LLC. All rights reserved
1Accenture: “Insight Driven Health,” 2013.
