Private Health Insurance Exchange Vendors
Mercer waited until july 2013 to reveal that it had signed several companies to participate in its active employee exchange in 2014.
Private health insurance exchange vendors. To thrive in a booming individual market exchange vendors should offer several shopping options. In fall 2013 walgreen co the nation s largest drugstore chain announced it will send 160 000 full time workers to a private health exchange run by. It ended up covering 165 000 lives for 33 employers this year while aon hewitt stretched out to a big lead covering 600 000 lives for 18 employers its private exchange product was limited to employers with at least 3 000 workers while mercer accepted. A private exchange is an online marketplace that allows employees or retirees to shop for a personalized benefits package from a broad selection of benefit plans which often includes medical vision dental life and disability insurance plans as well as other offerings including non insurance products like prepaid legal fsa s identity theft protection and so on.
Profiles of these exchanges are in the appendix. A private health insurance exchange is a health insurance exchange run by a private company. Private health exchange vendors. Current private health insurance exchange vendors have a unique opportunity to capitalize on the market and regulatory forces that are compelling employers to change their approach to benefits.
Although the products and services sold through a private health care exchange remain subject to any regulations that would apply off exchange private health care exchanges themselves are not subject to the laws and. Private health insurance companies list their health plans with the exchange and people comparison shop on the exchange from among the available health plan listings. This 55 page impact report contains 19 figures and eight tables. A health insurance exchange otherwise known as a health insurance marketplace is a comparison shopping area for health insurance.
And executive interviews with six companies that have built proprietary technology for the u s. If these vendors can deliver on the key elements of a private exchange they can capture share in a market that will continue to grow. Clients of aite group s health insurance and life insurance service can download this report. Us employer sponsored private health insurance exchange forecast to 2020 new analysis from frost sullivan s digital health growth partnership service program finds that the total market for.
It develops the group market private exchange value chain details vendor comparisons across the value chain and profiles 12 private exchange vendors. Four of the major benefit consultancies sponsor a private exchange aon s corporate health exchange buck consultant s rightopt mercer s mercer marketplace and towerswatson s oneexchange. Individual health insurance market describes the current state and future.
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