Private Exchange launched to help credit union members and employees

SALEM, OR (February 20, 2014)  – CU Benefits Alliance today announced the launch of MyCUexchange, a PRIVATE EXCHANGE platform that provides credit union members and employees the ability to participate in one of the fastest growing trends in health insurance. Like the 401k transition of years ago, this trend will continue as group insurance plans become less and less viable due to cost and regulations.

According to John Harris, CEO of CU Benefits Alliance, “Over the next several months, about one third of credit union members may be faced with healthcare decisions never experienced before.  It is estimated that about 17% of American families do not have health insurance and millions of others will lose their employer-sponsored coverage due to the implementation of the Affordable Care Act.”

Harris believes individual circumstances regarding health insurance will be changing for millions of people and they may not be aware of their choices today.  Families will be forced to share more financially than ever before in their personal healthcare expenses, such as, higher deductibles, higher co-pays and higher prescription drug costs.  Credit Unions have a unique opportunity to step up and help their members through this financially challenging time. This can be accomplished by simply offering important information and assistance to all members.

Members and employees participating in the program are directed to the private exchange website where they can compare and select a policy from among a variety of individual health plans being offered by health insurers in their area. The private exchange is a tool that provides members with more choice and makes it possible to more effectively provide services to large numbers of individuals and their families. Members can choose to be connected to live experts, licensed in all 50 states, who can provide them the best options for their family regardless of pre-existing conditions or budget. Experts will look for the right plan in two different markets:

  1. “On Exchange” personal health plans – all the major carriers offered on the government exchanges, federal subsidies to help pay premiums may be available.
  2. “Off Exchange” personal health plans – more carriers than just those offered on the government exchanges, better networks and lower premiums may be available but subsidies cannot be used.

The Private Exchange is not limited to just health insurance solutions, although that is the greatest concern for most people. “We have experts available in long term care insurance, disability insurance, Medicare supplements and voluntary benefits (accident, critical illness, hospital indemnity),” adds Harris.  Also available are a variety of healthcare discount savings on services like TeleHealth, Dental, Vision and Prescription drugs.  The exchange is offering every credit union member and employee a free prescription card, to save on their prescription medications, just for logging onto the site.

Forward-thinking credit unions have already begun to get the message out to members before the March 31st Federal open enrollment deadline for all Americans to comply with the ACA.

More information about the exchange can be found at

About CU Benefits Alliance
CU Benefits Alliance is a multi-credit union owned CUSO engaged in the development, delivery, and management of health benefits plans. As a leading provider of fully integrated and creative solutions, CU Benefits delivers overall economic value, quality, service, and improved member and employee satisfaction.  When it comes to developing a benefits strategy that can make a difference in the health and productivity of an organization, CU Benefit’s expertise is invaluable. Representing credit unions across the country, CU Benefits has set a high standard for providing opportunities to transform the one-dimensional paradigm of health benefits.

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