On the surface, private exchanges seem right in line with American consumerism: Provide an open platform and let each employee pick the exact plan that meets their needs. And for employers, a defined contribution approach to health care coverage seems like a great way to wash their hands of all the compliance headaches. This may very well be the future, and many are racing to market with exchange platforms. But most have built their platforms in the hopes they will come. Right now, the barrier of entry is too high. Not only do these platforms not have the critical mass to make them affordable, there are a number of other hurdles that Advisers need to be aware of before offering these solutions to clients, including:
