XChanges Today: A Business Brief
Volume 2: Unlocking Your Health Care Strategy
Today in the United States, employer-sponsored health benefits are the source of coverage for more than 149 million individuals. Fueled by many factors, including rising costs, legislative changes, new provider models, and evolving market forces, the health care industry is undergoing a transformation. To keep pace with the changing environment, employers must rethink their role in health coverage: how they sponsor, structure, and deliver health benefits, and how they manage costs while keeping employees healthy, productive, and satisfied.
This edition of XChanges Today describes some of the ways employers are adapting to this transformation, including the increasingly utilized fixed-subsidy approach to health benefits. One way employers are using a defined commitment approach is through the private health exchange. To help employers understand and begin to evaluate the differences in private health exchange models, this publication provides more detail around their key components: funding strategy and carrier approach. It also includes a side-by-side look at how those two elements combine to create a spectrum of solutions that employers can leverage to meet their business and employee needs.
The decision to move forward with a private health exchange strategy is not one to be made solely by HR. At the end of this publication is a Q&A we conducted with Gary Crowe, CFO of Ricoh Americas Corporation. In it, he highlights some of the factors Ricoh considered when evaluating both the strategy and different models, discusses the impact the Aon Active Health Exchange has had so far, and provides a few recommendations he has for other CFOs considering using a private health exchange approach to benefits.
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