KTP Advisors will provide independent, objective assistance in the evaluation, comparison and selection of Private Health Insurance Exchanges (PHIX) for Employers, Brokers, Consultants, Associations, and Insurance Carriers.
KTP has created this “market map” which outlines the more than 170 distinct PHIXs currently available. The research presented on this map includes a partial list of the almost 150 comparative data points KTP is continually researching and gathering on these exchanges and marketplaces.
For a more in-depth analysis of the exchanges including, financial information, service information, product information, consumer decision support tools, exchange strategy, sales and marketing techniques, data and security obligations, etc. please contact Nicole Allen at email@example.com or Kate Beebe at firstname.lastname@example.org.
Please click the boxes below and scroll down to view each category.
Additional Technology Platforms
We, at KTP Advisors, have created this category for technology companies whose primary service offering to the market is benefit administration, enrollment, flex administration, COBRA administration, healthcare payment administration, payroll services, and other technology outside of the PHIX space. Some of these companies do offer a private health insurance exchange platform to complement their other services and some do not but plan to do so in the future. There are technology companies in this category that are private labeling or powering ben-admin platforms, evidence of insurability engines, payroll integration services, and other technology based offerings for PHIX technology companies that do not have these capabilities.
These would be comparable to food courts, movie cinemas, and other service businesses found in shopping malls.
PHIX Technology Companies
These are typically technology companies that have developed, and in most cases, continue to refine the technology platforms that power private exchange marketplaces. Like shopping mall builders and developers, they lease their platforms for use and may sometimes integrate their platform with other employee benefit services. These entities have built proprietary technology platforms and have programmers and software engineers on staff to update the technology on a consistent basis. They sell licenses to use their platform or provide it on a SaaS (software-as-a-service) basis, charge fees to those that wish to private label and co-brand their technology, and also play the role as a “marketplace” for the purchase of employee benefits. Many if not all of these companies will work to add members to their platform through relationships described above, but will also work direct with employers and allow brokers to place clients on their exchange, without a private label or co-brand arrangement.
Private Health Insurance Exchange (PHIX) Marketplaces
Organizations set up to facilitate the purchase of health insurance and other employee benefits. They are similar to shopping malls with a broad variety of products and competitors. Marketplaces provide a set of standardized health care plans and ancillary benefits such as Dental, Vision, Life, Disability, Accident, Cancer, Critical Illness, Hospital Indemnity, and other products.
Essentially, a marketplace is a “distribution channel”. These marketplaces are typically sponsored by insurance brokers, insurance carriers, and benefit consultants who, in many cases, are paying for and licensing an enrollment technology platform built and powered by private exchange technology companies.
PHIX Marketplaces are offered by insurance carriers, associations/affinity groups, consultants/brokers, and even PHIX technology companies.
Health Insurance Carrier PHIX Marketplaces
These entities carry the same definition as a marketplace but are owned and offered by insurance carriers to employers and employees for the exclusive purchase of their own health insurance products. In most cases, the health insurance carrier’s products are the only benefits offered to employees, although some are considering offering other carrier’s specialty or ancillary products. Most single health carrier exchanges utilize the technology platforms built and powered by PHIX technology companies and pay for the right to utilize the platform.
These would be similar to shopping boutiques where only one brand of clothing is featured.
Consultant/Broker PHIX Marketplaces
This form of exchange is a marketplace designed to support the employee benefit needs of their own client base. This PHIX marketplace is typically utilizing a PHIX technology company platform through a licensing, SaaS, or marketing agreement. The targeted audience would make this exchange similar to a mall anchor store, offering a wide variety of products but targeting a particular demographic like middle-income or wealthy customers.
Association PHIX Marketplaces
This form of exchange is a marketplace designed to support the employee benefit needs of members of their own association. Examples of this would be an automobile association, manufacturers association, or other entities formed for a particular affinity group. This PHIX marketplace is typically utilizing a PHIX technology company platform through a licensing, SaaS, or marketing agreement. The targeted audience would make this exchange similar to a specialty store, catering to a homogeneous clientele such as chefs, parents, or homeowners.
New private healthcare exchanges and marketplaces are being developed and made available to employers, employees, and brokers on a daily basis. Please check back to this website as needed to see what’s new.
If you are in the private healthcare exchange market, have any questions regarding our services, or would like more information, please contact: Nicole Allen at email@example.com or Kate Beebe at firstname.lastname@example.org.