William Kramer, executive director for national health policy at the Pacific Business Group on Health in San Francisco, discusses the potential long-term role the public health insurance exchanges could play in helping larger companies manage their health care benefits:
Business Finance: The state health insurance exchanges created by the health care reform law are slated to be up and running on January 1, 2014. Initially, the exchanges will be open only to small businesses and individuals purchasing health insurance. However, starting in 2017, these exchanges could be open to larger employers. Could this be a game changer for large companies looking to manage their benefits more effectively?
William Kramer: There are two ways that the exchanges could be a game changer. First, if the exchanges are able to align with the purchasing strategies of large employers, they might provide a critical mass and send a consistent signal to healthcare providers about what needs to be done to improve the quality and affordability of our healthcare system. Regardless of whether employers actually use the exchanges, the exchanges, by working in alignment with large employer purchasers, could help drive quality and affordability.
Second, if the exchanges provide an alternative way for people to access health benefits even if employers continue to provide financial support for coverage, employers could offload some of the administrative hassle involved in managing health benefits onto the exchanges. In addition, employers could also offer a wider range of choice to their employees through the exchanges, while employees gain the benefit of greater portability of their coverage.
http://businessfinancemag.com/article/qa-leveraging-health-insurance-exchanges-part-1-0223
Hat tip: Business Finance Magazine
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