Blue Cross and Blue Shield of Nebraska (BCBSNE) is excited to announce the launch of PersonalBlue, an innovative health insurance solution offering Nebraska-based companies of all sizes an affordable, customizable way to provide group health insurance for their employees.
BCBSNE created PersonalBlue as an Individual Coverage Health Reimbursement Arrangement (ICHRA) solution in collaboration with Bavvy.
What is an ICHRA?
An ICHRA is a health reimbursement arrangement that allows employers to reimburse their employees for medical expenses, tax-free. With an ICHRA, employers make a fixed contribution to their employees’ health insurance premiums.
What are the benefits of an ICHRA?
An ICHRA, like PersonalBlue, offers more flexibility for both employers and employees compared to a traditional group health plan and provides additional benefits, said Ron Rowe, executive vice president and chief revenue officer at BCBSNE.
“We are thrilled to introduce PersonalBlue, a solution that offers both cost savings and flexibility for employers while providing employees with the freedom to choose the health coverage that best suits their needs,” Rowe said. “This product is a great step forward in our commitment to delivering innovative and effective health insurance solutions.”
A comprehensive solution for employers
PersonalBlue enables employers to set the contribution amount they make to their employees’ health benefits. This provides employers with controlled and predictable health care costs, helping them manage their annual budgets effectively.
Additionally, PersonalBlue simplifies the administrative burden on employers by streamlining the benefits management process. The Bavvy platform, which hosts PersonalBlue, ensures compliance with all relevant health insurance regulations, reducing the risk of penalties and simplifying reporting requirements.
PersonalBlue’s flexible structure also allows employers to adapt as health care needs and regulations evolve without overhauling their entire benefits strategy.
Choice and flexibility for employees
PersonalBlue empowers employees with personalized coverage options, allowing them to choose health insurance plans that best meet their needs from a range of Affordable Care Act-compliant Blue Cross Blue Shield plans.
Employees also have flexibility to adjust their health coverage as their circumstances change.
Where can I learn more?
For more information on PersonalBlue, visit PersonalBlue.Bavvy.com.
