January 26, 2016 – Boston –Fidelity Investments formally launched a private health insurance exchange today aimed at small and midsized businesses, marking the company’s latest venture in the health care space.
Fidelity has long offered health-benefit record keeping services to large companies. However, Fidelity Health Marketplace, as the new business unit is known, marks its first foray into health benefit offerings for the small to midsized market.
The unit offers a broader array of products and services than the administrative services Fidelity offers to larger companies, according to Joe Laurin, president of Fidelity Health Marketplace. For example, it acts as both an insurance broker and an administrator to businesses and their employees, offering medical, dental, vision and life benefits as well as wellness programs and other services.
“We haven’t seen this smaller end of the market really receive the same level of service, or the same options as far as the products and the technology that’s been available to the bigger end of the market,” he said.
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