The majority (nearly 90 percent) of the carriers surveyed for the Health Care Reform: Private Exchanges & Voluntary Frontline Report are currently planning to offer their voluntary products through a private exchange. Most of these carriers are either in the midst of developing their strategy or are planning to partner with medical carriers, brokers/ consultants, or technology vendors to craft their solution. Those carriers that already have a strategy in place were evenly split among using a single-company or multiple-company private exchange approach, or a combination of both types.
Respondents were also asked which voluntary products they expect to offer through private exchanges. Voluntary life and critical illness were the most frequently mentioned products followed by accident and short-term disability. The carriers also believe that voluntary products offered on an exchange will be more standardized and pre-packaged in terms of the benefits offered. They also believe that pricing, underwriting, and commissions may be adjusted, depending on the exchange model.
The 2013 Health Care Reform: Private Exchanges & Voluntary Frontline Report examines voluntary carriers’ strategy for addressing health care reform and more specifically, private exchanges. With this information, voluntary carriers can compare and contrast their own strategy to what other key voluntary players are doing to prepare for the new health care exchange landscape.
This report is free and available exclusively to Eastbridge Information Partner™ Subscribers as well as to participants. For more information on becoming a participant, email us at email@example.com.
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.