Health Payer Intelligence July 5, 2017
For over a decade private exchanges have changed how payers offer their benefit products to employers and workforces and they continue to thrive.
Private exchanges have grown in significance as a means for payers to get their products before employers, and their growth has resulted in increasing the number of health plan options for employees and beneficiaries. Additionally, the expanded use of private exchanges has resulted in easier benefit administration, increased enrollee engagement, and greater price transparency with employees being able to customize and compare plans side by side.
A recent Willis Towers Watson report on the employer benefits marketplace satisfaction showed that private exchanges have a positive impact on company culture and employee satisfaction.
A private exchange enables employees to make a...