Reverse auctions: Another way to reach employers

02/13/2013 | (Worcester, Mass.)

Some employers have participated in reverse auctions for dental, vision and other optional employee benefits. The employer initiates the auction and sets specifications, then prequalified insurers place electronic bids for the business and finalists are given an opportunity to revise their bids. Brokers or benefits advisers can conduct the auction on the employer's behalf.

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