The National Business Group on Health’s latest health-benefits survey finds that large employers anticipate holding their healthcare benefit costs to about 5 percent next year, in part by continuing to shift more of the cost burden to employees, broadening their use of wellness programs and making high-deductible consumer-directed health plans their only benefit option (the number of employers that plan to do this for next year jumped by 50 percent).
Another option that’s attracting interest from large employers is private exchanges. Just 3 percent of large employers will offer their active employees health coverage through a private exchange next year, the survey finds; however, 35 percent said they’re considering doing so for 2016 or beyond. But employers are skeptical about the ability of these exchanges in two key areas: Only 17 percent said they’re confident that exchanges will do a better job of engaging employees to make better healthcare decisions and just 10 percent believe they’ll control costs better than their own plans.
Another report, this one from Accenture, finds that private exchanges are experiencing “hyper-growth” and that enrollment could exceed that of the public health exchanges (which have enrolled about 8 million Americans so far) by 2017. Approximately 3 million individuals could enroll in health plans via private exchanges this year alone, according to Accenture.
Whether or not these exchanges will be successful in engaging employees and lowering or stabilizing healthcare costs may depend on the features they offer: According to an Accenture survey of 2,000 U.S. consumers, 87 percent identified “tools to help project my expenses and select coverage levels” as an important feature, and 58 percent identified this as a “very important” or “critical” feature.
For readers wanting a bit more information on private exchanges, check out this comprehensive checklist by HREOnline’s benefits columnist, Carol Harnett.Twitter It!