Evaluating Private Exchanges Checklist

Organizations, whether private, public, or not-for-profit, have a broader array of options when it comes to offering health care coverage to their employees. One of the newer delivery options available is a private exchange.

A private exchange is a health benefits marketplace to which the employer/plan sponsor can direct its employees to purchase health coverage from a single or multiple participating organizations, including insurance carriers and provider networks. A private exchange can facilitate either a defined benefit or defined contribution approach.

Findley Davies offers an unbiased evaluation of all your health care options, including private exchanges. Unlike many other consulting firms, we made a conscious decision not to offer a private exchange ourselves but rather to focus on our role as a trusted independent adviser to our clients. This means we are able to evaluate objectively: (1) if a private exchange is the right decision for our client; and (2) if so, which one?

In other words, you benefit from Findley Davies' objectivity and independence throughout this decision-making process, a unique position that truly sets us apart from competitors.

Not All Exchanges Are Created Equal

You may be wondering if moving to a health care exchange is the right option for your organization. Important considerations include:

What are my company's benefit plan objectives and does it make sense to move to a private exchange based on these objectives?
Is moving to an exchange cost-effective for my organization and my employees?
What does moving to a private exchange entail?
What are the options for both insured and self-funded arrangements?
How will offering benefits through an exchange impact my company's health management strategy?
What additional fees and commissions are built into the rates under a private exchange?

We understand that employers are continuously being challenged by advanced health care delivery models, brand-new marketplace health management options and recently issued compliance requirements. But, these challenges create new opportunities as well. Findley Davies can help organizations revisit their short-term and long-term health care strategies and take a fresh look at their objectives, including evaluating the feasibility of private exchanges.

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Due Diligence on the Feasibility of Using a Private Exchange for Your Organization

This checklist includes some of the isues and questions Findley Davies addresses to determine appropriate next steps to make health benefits decisions for your organization.

Download Private Exchange Checklist