As everyone knows, many of the rules in the heavily-regulated health insurance industry are changing next year, and that means that the strategies we use to sell health insurance to our clients need to change as well. Increasingly, it looks like private exchanges may be the answer everyone is searching for.
Employers who continue to offer group health insurance coverage as an employee benefit next year will need to control costs, so many are adopting a defined contribution strategy and offering more choices to their employees. Private exchanges present those choices in a user-friendly format and allow employees to sign up for all of their benefits through one convenient website.
Other employers will decide to drop their group coverage so their employees can access the new government subsidies, but signing everyone up individually will take some time. For these companies, private exchanges may be even more beneficial. With a number of plans to choose from, employees can pick a plan that’s right for their family, but many will need help with this process. Since most insurance agents aren’t equipped to handle the influx of individual clients, a private exchange with an integrated call center can allow brokers to spend their time consulting with employers while ensuring that the employees get the attention they deserve.
Our new white paper, “Private Exchanges 101: The Essentials on Understanding, Using, and Selling Them” will help explain what a private exchange is; differentiate between the types of exchanges – public and private – that are either being offered now or currently under development; and illustrate the opportunity available to brokers who choose to offer a private exchange solution for their clients.
Click here to download this 10 page document and learn how health reform could end up being a huge opportunity to expand your business.