The distribution model for employee benefits is changing. As employers move to a cost-sharing model, essentially asking employees to assume more financial responsibility for their benefits, channel options that allow deeper analysis, including private exchanges, have grown in popularity. There is little question that private exchanges ? stores where employees can purchase benefits ? are transforming the industry and providing new opportunities for employers and carriers alike. Adapting to this rapidly developing landscape, however, presents new questions and challenges for all players.
Multiple recent industry studies have indicated that over the next few years, private exchanges will become an increasingly popular channel for benefits sales. Conversations about the Affordable Care Act brought private exchanges into the public consciousness; the exchanges have continued to gain traction for their ability to make it easier for carriers and employers to offer a broad set of traditional and voluntary products while creating new ways to educate and engage participants on their benefits options. In an industry that doesn’t change rapidly, it is clear that this distribution channel offers unique opportunities to shift the status quo.
Register or login for access to this item and much more
All Employee Benefit News content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access