Slideshow 8 private exchange considerations

  • May 15 2014, 9:09am EDT


1. Many factors are involved in the process of deciding whether to switch your employees to a private exchange, including current plan design, demographics and wages of the workforce and the state of the industry you’re operating in.


2. A transition to exchanges requires understanding of marketplace offerings, industry issuers, regional differences in qualified health plan offerings, depth of QHP networks, and costs to employees of existing coverage.

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3. If the employer does transition to an exchange, it is still important to provide continuing education and services to assist employees/plan members and perhaps even offer ancillary/wrap benefits. In other words, the plan sponsor’s role isn’t over.


4. It is important to educate employees/members on the Affordable Care Act.


5. Model notices from the Department of Labor can be confusing – it is better to send additional, simpler communications.

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6. Use surveys/questionnaires to gauge employees’ understanding of the ACA as it pertains to your health plan offerings and to determine their priorities and needs.


7. Consider hiring full-time staff to act as private navigators/application assistors.


8. Use outside vendors to communicate with employees on marketplace offerings – but beware of hidden brokerage fees and commissions.