April 24, 2014
Marcum Benefits Marketplace, Featured in Long Island Business News Article, "Marcum Creates Health Insurance Exchange."
By Claude Solnik
As it seeks to grow its healthcare practice and services, Marcum has launched a private health insurance exchange.
The Melville-based accounting firm’s affiliate, Marcum Financial Services, created the Marcum Benefits Marketplace, a private health insurance exchange for employers, employees and even individuals. Marcum is using the exchange, which went live on March 15 and is open to clients and the public at large, as another tool to attract business.
Geared to employers with up to 1,000 employees, the exchange includes tools to facilitate the comparison of policies and determine which policy most meets the needs of the clients.
“Choice is becoming more prevalent,” Marcum Financial Services President Steven Brett said. “A single solution doesn’t work for every employer.”
Marcum is on a short list of firms that launched private exchanges targeting smaller businesses. Exchanges from consulting firms Mercer and Aon target firms with 1,000 employees, while Liazon, recently acquired by Towers Watson, targets firms with two to 50 employees for its exchange. Some other exchanges seek out companies with more than 10,000 employees.