Virginia Chamber leads efforts to create benefits exchange

Published October 6, 2014 by Jessica Sabbath

Virginia businesses soon will have a new option to shop for employee benefits.

The Virginia Chamber of Commerce is launching Virginia Benefits Market (virginiabenfits.com), an online exchange that will allow employers to compare medical and supplemental insurance costs from participating carriers.

The chamber is working with more than 60 regional chambers of commerce to publicize the exchange and educate employers about its benefits.

“This market-based approach will broaden choices for business owners by taking advantage of the collective buying power of state and local chamber members,” Barry DuVal, president and CEO of the Virginia Chamber, said in a statement.

The Virginia chamber hopes to have the site launched by Dec. 1, according to Ryan Dunn, vice president of business and government relations.  Employers do not need to be chamber members to participate, Dunn said.

The following companies are participating in the exchange:

-Allstate Benefits (accident, critical illness, life insurance)
-Anthem Blue Cross and Blue Shield (health insurance)
-Chubb (disability insurance)
-Delta Dental (dental coverage)
-Dominion Dental Services (dental coverage, vision insurance)
-Legal Resources (family legal protection)
-MYidealDOCTOR (telemedicine)
-Optima Health (health insurance)
-UnitedHealthcare (health insurance)

Chambers of commerce in Oklahoma and North Carolina have launched similar private exchanges. Another 15 or 16 have similar exchanges in the works, Dunn says.

The Virginia Benefits Market is managed by the Virginia Benefits Alliance, which is a joint venture of the Virginia Chamber and Norfolk-based Chamber Solutions. CieloStar will host and administer the exchange program.