Private Employee Benefits Exchange for Minnesota Employers Now Available
Minneapolis, MN, September 23, 2014 – - CieloStar, a leading nationwide healthcare benefit distribution and payment technology company, announced today that they are partnering with Meadowbrook Insurance Group (Meadowbrook) to create a private employee benefits exchange that will offer an array of benefits for individuals and families. The private exchange will also include major medical health plans as well as the supplemental insurance products. Meadowbrook is a leader in the specialty program management market.
CieloStar is known for its easy-to-navigate technology platform that provides a one-stop online marketplace for health and supplemental insurance coverage. “CieloStar is pleased to be working with Meadowbrook to create this unique private health exchange,” said Bill Mehus, Executive Chairman of CieloStar. “Employers in Minnesota will now have an affordable, customizable option for their employees.”
Studies show that by 2018 more individuals will be using private health exchange than any of the public exchanges available. This option allows employers to comply with the Affordable Care Act and provide employees with an integrated and efficient benefit selection process. CieloStar’s BenefitReady® platform facilitates the collection, management, processing, and transfer of all the pertinent data that is typically involved with benefits administration.
“This new private exchange gives employers the flexibility, security and transparency that they’ve been looking for,” added Mehus. “Employers in Minnesota will now have a solid defined contribution option that will help them control costs, improve options and add certainty and predictability to their business planning.” Mehus noted that reputation of Meadowbook and their history of providing their clients with top-level services made a partnership with them an easy decision.
CieloStar is one of the first companies nationally to set up and successfully run private exchanges for employers. As employers look to comply with the Affordable Care Act and move to a defined contribution plan, the expertise and experience of CieloStar are unmatched.
CieloStar has been helping employers and employees across the country navigate the ever-changing world of benefits since 1988. The company’s expanding suite of products and services includes high-tech, high-touch SaaS based solutions, sophisticated decision support technology, private exchanges, enrollment solutions, mobile and web-enabled technology, health and wellness tools, bill consolidation and provider payment solutions. CieloStar, headquartered in Minneapolis, MN is privately held, employee owned. Visit www.cielostar.com for more information.
ABOUT MEADOWBROOK INSURANCE GROUP
Meadowbrook Insurance Group, Inc., based in Southfield, Michigan, is a leader in the specialty program management market. Meadowbrook includes several agencies, claims and loss prevention facilities, self-insured management organizations and six property and casualty insurance underwriting companies. Meadowbrook has twenty-eight locations in the United States. Meadowbrook is a risk management organization, specializing in specialty risk management solutions for agents, professional and trade associations, and small to medium-sized insureds. Meadowbrook Insurance Group, Inc. common shares are listed on the New York Stock Exchange under the symbol “MIG”. For further information, please visit Meadowbrook’s corporate web site at: http://www.meadowbrook.com.
CieloStar Contact: Paul Walther, Vice President
Meadowbrook Contact: Scott E. Whelan