Private HIX Show the Way to Transformed Benefits
A test of consumer behavior shows many employees willing to give up healthcare benefits for lower premiums, and ready to spend defined-contribution money on other benefits.
With so much attention focused on the travails of the federal and state health insurance exchanges, it has been easy to overlook a third HIX model: Private health insurance exchanges. They have more or less been operating under the radar and away from the glare of the nightly news.
Yet the way in which these private exchanges are organized and run—by the likes of Aon Hewitt, Mercer, Towers Watson, and Walgreens, as well as insurers such as Aetna, Cigna, and Highmark Health Services—gives me hope that this new-fangled insurance marketplace can actually succeed.
Employers are turning to these private exchanges as a way to (hopefully) reduce their healthcare costs by shifting from a defined benefit to a defined contribution model. Enrollment is estimated at just one million this year but is predicted to increase to 10 million by 2018.
Of course it is much too early to measure any success in terms of lower healthcare costs, but a new survey from Accenture focuses on consumer buying behavior in private HIX (PDF) and provides some food for thought for health plans.
- 'Mega Boards' Could be Rural Healthcare Disruptor
- 1 in 5 Eligible Hospitals Penalized for HACs
- HL20: Rebecca Katz—Cooking Up Sustainable Nourishment
- Meaningful Use Payment Adjustments Begin
- HL20: Peter Semczuk, DDS, MPH—Taking on the Big Challenges
- PA hospital to pay $662,000 to settle Medicare fraud case
- Supreme Court to hear Obamacare subsidy challenge in March
- Dr. Oz gets fact-checked and the results aren't pretty
- How the high cost of medical care is affecting Americans
- HL20: Lee Aase—Who's Behind @MayoClinic