Based on early experience managing a private health insurance exchange for employees, Aon Hewitt reported Thursday that its employer clients probably saved between 1 and 2 percent on health insurance costs by choosing the private exchange option.
The company based its assertion on a post-enrollment survey of employees and families who get their coverage through the exchange. An independent third party conducted the survey, Aon Hewitt said.
"The average cost increase in fully insured premiums for these companies returning to the private exchange in 2014 was 5.1 percent, including the reinsurance fees levied on all group health plans under the Affordable Care Act," Aon Hewitt said in a news release. "Comparatively … average health care cost increases for large U.S. employers are likely to be approximately 6 percent to 7 percent in 2014, before employers make changes in deductibles and copays."
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
