First Niagara Bank, which has an extensive Connecticut branch network, said it has launched a private health insurance exchange for Connecticut businesses.
The exchange will be run by First Niagara Benefits Consulting, which falls under First Niagara Bank subsidiary First Niagara Risk Management. United Healthcare will offer plans in its exchange, the company said.
FNBC is the latest entity to throw its hat into the growing marketplace of private insurance exchanges.
The Connecticut Business & Industry Association has had an exchange for small employers since 1995. Health insurers and other companies have also launched their own offerings in recent years.
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United Healthcare offers plans in Connecticut under its own name and as Oxford Health.