KTP’s Barry Eyre, vice president of business development, was recently interviewed on the Institute for Healthcare Consumerism Radio Show. In this episode, Barry shared his knowledge of the private exchange market, including what he has seen and heard from employers who are exploring the private exchange option for their employee benefit strategy. He stressed that understanding the right questions to ask is critically important to making the best choices. With dozens of benefit advisors offering a private exchange option of their own, employers need to take this information with a grain of salt, he added.
Barry went on to explain that there are more important questions employers should be asking than simply “What are my exchange options? What are the exchanges that serve my industry type? What carriers are offered on the exchanges? While these are good questions, employers might be better severed by first reflecting on what their benefits philosophy is and what they hope to accomplish by moving to an exchange.” During the program, Barry also touched upon: implementation timeline, resources found on private exchanges, and public and private exchange integration. He ended the interview with a final piece of advice to employers: “Understanding your needs (as an employer) is critical to being able to evaluate an exchange offering. Time spent upfront to understand your goals could help to eliminate a lot of potential vendors from consideration.”
For the full interview on IHC Radio, please click here.