Benefits today are all about flexibility from offering employees customized choices that meet their individual needs, to the different channels through which these benefits are offered. One channel generating a lot of discussion is private exchanges. When implemented appropriately, exchanges can help employers offer more flexible benefit programs, which, in turn, offer employees the personal experience they desire.
Though its still to be seen if exchanges will drive the large amount of business originally predicted, employers are absolutely interested: Recent surveys from Aon Hewitt, PwC, Towers Watson and National Business Group on Health indicate that between 32% and 45% of employers will consider private exchanges as the vehicle to provide employee benefits before the end of the decade, and Accenture projects there will be 40 million enrollees on private exchanges by 2020.
