Private exchanges offer a new opportunity to provide a more robust benefits buying experience for your employees and retirees. However, before moving to an exchange, it may make sense to understand whether that move will result in real economic value to your company.
You need to ask the tough questions, like:
Pacific Resources’ Private Exchange Consulting Practice helps large employers understand the opportunities and challenges of the private exchange marketplace.
We offer objective advice to help large employers determine if an exchange is a viable and appropriate part of their comprehensive benefits strategy and become their advocate throughout a flexible, phased approach. The phases are designed to allow employers to choose the services that best meet their needs on a stand-alone or ongoing basis.
In Phase I, we partner with a leading independent healthcare actuarial services firm to evaluate the economic feasibility opportunity to move to an exchange.
Our main goal in Phase II is to assist you in selecting the most appropriate vendor(s) to meet your benefits strategy. Our approach emphasizes matching results with your established objectives.
Phase III includes project oversight and facilitating the implementation of the exchange services. We also provide onsite testing of implementation parameters.
Services in Phase IV include ongoing monitoring of the vendor’s services against performance guarantees, reporting review and assistance with annual renewal.
Because private exchanges are being developed and marketed by consulting firms, carriers, brokers and benefit administrators, the decision to move employees to a private insurance exchange requires considerable objective analysis and evaluation of multiple factors. Pacific Resources can help.