We shop for everything else online…why not benefits? Using private benefit exchanges (a.k.a. “online benefits marketplaces”), employers can bring a consumer-centric online shopping experience to benefits. Alan Cohen, a benefits technology pioneer, details how these platforms can offer unprecedented flexibility and choice to employees, revolutionize the way employers attract and retain talent, strengthen cost control in an era of skyrocketing premiums, and promote much-needed innovation in the U.S. health care system.
Discover How To
- Make sense of today’s challenging benefits landscape and plan breakthrough changes that have succeeded for thousands of employers of all sizes
- Leverage the lessons of the online shopping revolution to drive radical innovation
- Incorporate the 7 key pillars of a true private benefits exchange into your benefits mindset
- Gain indispensable practical insights from early adopters’ experiences
- Clarify the new roles of employers, HR, insurers, brokers, employees, and other stakeholders
- Accelerate your transition away from inefficient employer-managed plans
- Assess the ongoing impact of health care reform, public exchanges, health care consumerism, and other trends
Alan Cohen created one of the first private exchange platforms and has pioneered this approach for more than a decade. Now, in a candid discussion of how the economic principles of choice, consumerism, and defined contribution are at work in an exchange environment, he breaks down the concept for HR professionals, entrepreneurs, brokers, insurers, health care reformers, policy makers, and employees. Cohen looks to social and economic implications to forge a future in which all eyes are on a new model of the consumer for the benefits age. With insights from industry veterans, Employee Benefits and the New Health Care Landscape brings a fresh perspective to the debate on health care and health insurance in America.
Table of Contents
- Cover Page
- Title Page
- Copyright Page
- Contents At a Glance
- Table of Contents
- About the Author
- How to Read This Book
Part I: The Changing Benefits Landscape
1 Building a Better Benefits System
- Principle #1: Give Them Money and Let Them Shop
- Principle #2: Provide True Price Transparency
- Principle #3: Provide Meaningful Choice
- Principle #4: Offer Guidance in the Form of Decision Support
- Principle #5: Optimize the Shopping Experience
- Principle #6: Ensure a Cultural Fit Within the Organization
- Principle #7: Refine, Iterate, and Improve
- 2 Benefits: The Accidental Entitlement
- 3 They Don’t Know What They’re Missing: Flipping the Status Quo on Its Head
4 Making Sense of Benefits Solutions: Public Exchanges and Private Exchanges
- The View from the Top: Public Versus Private Exchanges
- Who Runs These Things Anyway? Types of Private Exchange Operators
- What Should You Consider When Moving to a Private Exchange?
- Who Can Benefit from Private Exchanges? Markets Served
- A Look at Products in Private Exchanges
- What Else Can Private Exchanges Offer?
- 1 Building a Better Benefits System
Part II: Stakeholders: Making the Move from “One Size Fits All”
- 5 Employers Find Skin in the Game
6 Six Questions to Ask Before You Choose a Private Exchange
- What Makes for a True Private Exchange?
7 Brokers and Exchanges: Better Together
- Rick Strater, Arthur J. Gallagher & Co.
- Rob Harkins, Willis Towers Watson
- 8 Insurers Find a New Way to Move Product
Part III: Future Vision
- 9 Innovation in Benefits (Yes, Benefits)
10 The “Law of the Land,” Insurance Tax Reform, and the November Surprise
- “The Law of the Land…for the Foreseeable Future”
- The Viability of the Individual Market
- What Else to Note on the Legislative Front
11 Who’s Afraid of the American Consumer?
- Some Potential Ways Forward
- The Utopian Vision
Part IV: Appendixes: A Practical Guide to Private Exchanges
- A Private Exchanges 101
- B Making Sense of Benefits Terms
C Real-World Data and Applications
- What Really Happens on Private Exchanges?
- What Do Employers and Employees Really Think About Liazon Exchanges?
- Title: Employee Benefits and the New Health Care Landscape: How Private Exchanges are Bringing Choice and Consumerism to America's Workforce
- Release date: September 2017
- Publisher(s): Pearson FT Press
- ISBN: 9780134665467