1 / 14

Private Exchanges

Private Exchanges. March 12, 2014 Presented by: Brent Wick. Understanding Private Exchanges. What is a private exchange The competitive landscape Carriers and exchanges Determining if this is a good solution for your company. Private Exchanges.

stamos
Télécharger la présentation

Private Exchanges

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Private Exchanges March 12, 2014 Presented by: Brent Wick

  2. Understanding Private Exchanges What is a private exchange The competitive landscape Carriers and exchanges Determining if this is a good solution for your company

  3. Private Exchanges • Defined Contribution model or Fixed Contribution • Offer greater choice to employees • Create employee ownership of benefit choices • Remove the employer from deciding the best benefit plan • Can include all benefit options • Private Exchange is the distribution system…think of a grocery store for insurance products. What a Private Exchange is not….complicated! Take a Look!

  4. It is Very Simple!

  5. The Mechanics of a Private Exchange

  6. Defining the Mechanics Employer HRA Enrollment System Decision Support Insurance Carrier

  7. The Private Exchange Market • 100’s of platforms to administer an exchange • Nearly all consulting/brokerage firms have a solution • Including Russ Blakely & Associates • These are almost all technology platforms • The critical component is the Insurance Carriers

  8. The Key to Insurance Company Participation Single Carrier Option • Most all solutions • Eliminates anti-selection • Allows any funding • Typically 4-6 options • Available today for larger employers • More limited in smaller markets – but developing Preferred Carrier Option Multiple Carrier Option • Examples: AON, Buck, Extend • Typically fully-insured • Mostly in place for very large employers • Value of transferring risk and defined cost

  9. The Local Private Exchange Market

  10. Critical Fact to Consider Statistics from Bloom Health

  11. How Are You Going to Control Cost? • If majority stay in the same plan • Cost increase by 10% • Employer contribution only increase 3-4% • Employee will see significant increase in cost year-over-year • Cost control are even more important in Private Exchanges • Clinical programs • Wellness • Limited networks • Managed Pharmacy Private Exchanges don’t take you out of managing benefits!!

  12. Is a Private Exchange For You?

  13. Questions?

More Related