July 20, 2013
gbac Chief Financial Officer Joseph A. Bucci, Jr. announced today that the Connecticut Energy Marketers Association [CEMA] has become the first state trade association in the nation to have finalized plans to open its own private, web-based health insurance and employee benefits marketplace. This association-based marketplace will leverage the hundreds of members the association has and its thousands of employees to drive competitive pricing and broader carrier and product offerings to members.
CEMA has worked with gbac for health insurance and employee benefits since 2005, and began working on establishing its own health insurance and employee benefits marketplace in 2012.
“For the first time,” said Bucci, “a trade association will be able to create a truly competitive, robust and dynamic marketplace for its members to choose from a variety of health, life, dental, long/short term disability, vision and other benefits’ carriers and products all in one conveniently assembled place.”
This powerful web-based marketplace for associations was pioneered by GBAC. Each association may brand the marketplace as its own, earn income from participation in the marketplace, determine what benefits, carriers and products are offered in their marketplace all with the assistance and guidance of gbac. The association does not to be licensed to sell insurance as that is the role gbac plays in the operation of the marketplace.
“Before Obamacare we were helping small businesses and associations cope with rapidly rising heath insurance costs and changing markets,” said Bucci, ” and now we are in the unique position to work with associations in developing strong educational tools and their own competitive marketplaces for their members as Obamacare unfolds.”
CEMA’s private health insurance and employee benefits marketplace will roll out at its annual meeting on September 19, 2013 and be ready for enrollments October 1, 2013.
Joseph A. Bucci, Jr. CPA/CIC/CFO GBAC firstname.lastname@example.org