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Health Care Reform Changed our World: Is a Private Exchange the Right Approach for Me?. Dallas- CEBS March 13 th , 2014. Agenda. Is a Private Exchange the Right Approach for Me?. Exchange Panel. Panel MC -  Jack Tartaro - Willis Human Capital Practice, Client Advocate

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Health Care Reform Changed our World:Is a Private Exchange the Right Approach for Me?

Dallas- CEBS March 13th, 2014

agenda
Agenda

Is a Private Exchange the Right Approach for Me?

exchange panel
Exchange Panel
  • Panel MC -  Jack Tartaro - Willis Human Capital Practice, Client Advocate
  • Technology Expert  - Matthew Culloty –Willis Human Capital Practice, Vice President Client Service
  • Medical Representative – Jay Saad – CIGNA HealthCare, New Business Manager
  • Wellness Representative – Alison Sugg - Viverae, Strategic Solutions Consultant
  • Risk Consultant – Jennifer Morgan – Willis Human Capital Practice, Vice President Client Services
  • Employer Representative – Alice McAbeeCEBS, MS, SPHR, Haggar Clothing Co, VP HR
exchange
Exchange
  • A technology based platform that provides greater consumer choice.
exchanges
Exchanges
  • Haven’t we seen this before?
public exchange
Public Exchange
  • A Government provided technology based platform that provides greater consumer choice.
private exchanges
Private Exchanges
  • A technology based platform that provides greater consumer choice…
  • … defines employer financial contribution and enhances employee decision support.
what are the features of a private exchange
What are the features of a Private Exchange?
  • A technology based platform that provides greater consumer choice, defines employer
  • financial contribution and enhances employee decision support.
  • A broad spectrum of PX definitions in use today. General attributes include:
    • Increased employer cost predictability
      • Move from defined benefit to defined contribution approach
    • Significant increase in medical and non-medical plan offerings
    • Reduced employer involvement in plan selection, plan administration and renewal negotiation
    • Consumer focused buying experience
    • Personalized member experience
    • Robust decision support tools to help consumers choose coverage that best meets their unique needs
    • Greater employee ownership / responsibility
    • Technology based ‘backbone’ and customer service support
    • “Point and click’ purchasing platform
defined contribution
Defined Contribution

Defined Contribution

You give employees money

1

Choice

Engagement

Consumerism

Private Exchange

2

People go shopping!

the exchange spectrum
The Exchange Spectrum

+Employer Involvement -

+Employer Involvement -

Private Exchanges

what are employers saying about private exchanges
What Are Employers Saying About Private Exchanges?
  • An increasing number of employers are considering exchange-based strategies
      • 45% of employers have implemented or plan to consider utilizing a Private Exchange for their full-time active employees before 2018
      • 25% of employers think that moving their organization to a Private Exchange will save them money - employers are looking for comprehensive capabilities and service from Private Exchanges
      • The greatest barriers to Private Exchange adoption relate to their immaturity and uncertainty about their long term stability
      • Interest in private exchanges extends across all industry segments and employer size, while the importance of exchange features varies between employers, demonstrating the need for flexibility in design and application
          • - From Private Exchange Employer Survey Findings
          • Private Exchange Evaluation Collaborative
          • Employers Heath Coalition, Midwest Business Group on Health, Northeast Business Group on Health, Pacific Group on Health, and PwC
what considerations should an employer have when considering a px strategy
What Considerations Should an Employer Have when Considering a PX Strategy?

Employer Pays 5% More Each Year

why wellness matters
Why Wellness Matters

For Every

100 Employees

Source: Department of Health and Human Services, 2011