Underwritten by Blue Cross and Blue Shield of Illinois.
A private benefit exchange (PBE) is an online marketplace where employees can purchase benefits using funds contributed by the employee, employer or both.
With advice from Vesta, employers can make available benefits they would like to offer their employees from leading insurance companies. Employees can select from offerings with as many as 6 different plans to choose from to select the plan that best meets their individual needs, lifestyle and budget. Private benefit exchanges are run by insurance companies, technology companies and brokers – not the government. PBEs perform as a year-round benefits resource, offering varying degrees of decision support or ways to guide employees to the best decision for them through education and system recommendation. PBEs are new and have been designed to meet the needs of small business and the consumer.