Presentation by Jeanneen Coleman Watson – ConnextionsSignificant opportunities before 2014.
Trusted consumer firms are prime candidates.
1. Pharmacy Retailer
2. Financial Services – additional services
3. Payroll Aggregator
Medicaid Driver – Expand Medicaid programs to Small Groups.
Employers are shifting from Defined Benefit to Defined Contribution (the 401-K model)
Private Exchange is more attractive than navigating the open market.
Consumers will be looking for Choice, Tools and Counseling.
70% of small firm workers attempting to buy coverage on open market found it difficult or impossible to do and gave up and went without coverage.
Group based insurance is migrating to exchange based individual insurance.
Traditional and new products start to mingle. e.g. Health and Life Insurance.
The Exchange becomes the trusted source.
In New York market enrollment is paper-based. System is paper -based partly driven by carriers.
Maintenance is done online through the exchange.
More people are expecting to do things online.
Exchange consumer applications need to be kept simple. Details for reporting are most likely to come through supplemental filings from the carriers.
Will we see Provider Cost Transparency? View is that this won’t change until we get payment reform.
Brokers may be influence Employers but it doesn’t necessarily flow down to influencing Employees.