Public health exchanges will offer individual consumers and small employers in the US a new way to purchase health insurance beginning in 2014. But for the vast majority of employers that will continue to offer employer-sponsored coverage, public exchanges do not provide a viable solution. Private exchanges offer a new way to provide employer-sponsored benefits that many will find advantageous. Because well-designed private exchanges enable employers to offer employees more choice while controlling overall cost, interest in them is high.
“The convergence of a number of critical factors – the unsustainable rise in benefit costs, health care reform, consumer-driven solutions, and improving technology – is transforming the provision of employee benefits,” says Eric Grossman, Senior Partner and Exchange Business Leader in Mercer’s Health & Benefits business. “Private benefit exchanges give employers the ability to continue offering competitive benefits to employees, which is important for attraction and retention, while actively managing spending and reducing their administrative responsibilities.”
Learn more about private health exchanges.
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For more information about private exchanges, visit www.mercer.us/articles/mercer-exchange-suite.