Private benefit exchanges

Nearly three-quarters of employers who have yet to move to a private benefit exchange would consider or are looking for an insurance carrier-sponsored exchange — not one led by an independent company or consultant, new research finds.

Drafting a strategic plan is the first step to combat soaring health care expenses impacting employees and employers, many of whom are turning to wellness programs and private exchanges to control costs.

The majority of growth in private exchanges into 2017 will be in the 100-999 employee segment, as companies seek to make defensive plays ahead of the Cadillac tax.

More choice through private exchanges means more complexity for employers, employees and brokers. What can be done to improve the process for all involved?

Teams of benefit experts debated each other on which type of plan is the future of employer-paid health care during a discussion Tuesday at EBA’s Workplace Benefits Summit in Orlando.

Health Republic Insurance of New York, the Affordable Care Act insurer that got $265 million in U.S. loans, will stop selling policies and eventually cease operations under orders from New York and federal regulators.

In the first year of open enrollment on its private benefit exchange, brokerage Lovitt & Touché made some mistakes. But the firm won’t be repeating them, says the Phoenix-based brokerage’s senior vice president.

Greg Giangrande, executive vice president, chief human resources officer for Time Inc., is the recipient of EBN’s 2015 Benefits Leadership in Health Care Award.

A PBE's consumer-facing portal may be "the sexy piece," an Accenture exec says, but many clients are looking for help beyond open enrollment.

Some have compared the changes in health care to the changes that occurred in the retirement industry 30 years ago when companies switched from pension plans to 401(k) plans and put the responsibility on consumers to pick investments. But George Tzinas, chief experience officer at BenefitAlign, says it is not the same.

For a private exchange to be successful, it needs to offer a full service solution in a box, says David Holton, vice president of private exchange business development at HealthPlan Services. His Tampa, Fla.-based company’s My Consumer Link is an individual exchanges for group brokers to offer. These brokers, Holton says, don’t want to walk away from the money of the individual sales, but don’t have the time to commit to it.

Large employers are playing a waiting game in the coming year on health care cost saving strategies as many wait and see how Washington politics play out.

Private benefit exchanges continue to grow – albeit slowly – but the pace of change is expected to pick up as employers consider their benefit options for 2016.

Working in partnership with USI and GoHealth, the payroll firm’s platform will serve populations with employer-provided benefits as well as those who must purchase through public exchanges.

Waiting to see how private exchanges play out is no longer a business strategy; and to succeed, brokers must change their business practices, speaker at EBA/EBN Private Healthcare Exchanges conference says.

As a value-added reseller, Apprize Technology sells and services to brokers three different benefit administration platforms, what many call a private exchange— bswift, benefitsCONNECT and Infiniti HR. Gary Wert, Apprize’s president, discusses why Apprize and other resellers may have to turn away business in the fourth quarter and why some brokers aren’t building their own exchange, but rather using a reseller.

Commentary: Employer interest in exchanges is high, but adoption rates have lagged behind projections for 2015.

With 24 Republican senators up for reelection in November 2016, not to mention the presidential election, there is so much set to change for both public and private exchanges.

The $34.1 billion blockbuster deal between Aetna Inc. and Humana Inc. is seen as complementary to both health insurers in terms of helping grow their involvement in private and public health insurance exchanges.

To stay abreast of private exchange trends, advisers, employers, insurers and other legal and industry experts will share their insights about private exchanges at this year’s EBA/EBN Private Healthcare Exchanges conference in downtown Chicago, July 23-24.