Data continues to roll in attesting to the efficacy of the private insurance exchange, an exchange modeled after those pioneered by the Patient Protection and Affordable Care Act but operated by non-government and non-insurance firms.
One such exchange — the RightOpt private insurance exchange from Buck Consultants at Xerox — has reported impressive outcomes.
In a release this week, Buck said clients that have migrated their employees to RightOpt reported an average 3.7 percent decrease in claims costs on a year-over-year basis. This compares favorably to the 5 percent to 8 percent average increase most plans are experiencing, Buck said.
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"RightOpt's unique focus on participants' well-being is also driving high levels of individual engagement," Buck reported. "During 2014, 100 percent of employees accessed the available resources. Employees also averaged 11.5 return visits to the RightOpt portal, compared to only 5.3 return visits for a typical benefit administration platform."
The most popular pages, Buck said, were those that provided "a personalized list of recommended health actions, health screening and incentive information, as well as spending account balances."
Buck offered up Church & Dwight, a medical and dental plan cost manager, as an example of the RightOpt experience. Church & Dwight moved its employees to the exchange with no cost shifting, and found that "medical and dental costs per employee are down substantially year-over-year."
"Most employers are looking for ways to help their people be more productive in their work while at the same time keep company health care costs down," said Sherri Bockhorst, principal and leader, Buck Health Exchange Solutions. "RightOpt can help address this challenge by enabling employers to promote a healthier and more focused workforce while driving costs out of the health care delivery system."
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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.
