Nearly 100% of employers are satisfied using a benefits marketplace (also known as a private exchange) to deliver an online shopping experience for choosing health and other benefits to employees, according to the 2017 Employer Experiences on Benefits Marketplaces Survey report by Willis Towers Watson. The majority of employers believe it has impacted their employees and company in a positive way by helping to control costs, simplify administration, and improve company culture:*

  • 97% of employers are satisfied with the benefits marketplace.
  • 86% think the benefits marketplace has helped them control benefits costs.
  • 89% say moving to the benefits marketplace has impacted their company culture positively.

Willis Towers Watson surveyed employers who use our benefits marketplaces to offer employees health benefits and more. This survey targeted employers with benefits effective dates between April 2016 and March 2017.

Read the full employer report: Willis Towers Watson Employer Satisfaction with Benefits Marketplaces 2017.

Read the employee report: Willis Towers Watson Health Care Consumerism in a Marketplace Environment 2017.

See the full infographic: Willis Towers Watson Infographic Everybody Wins

Click for the full WTW 2017 Employer Satisfaction Survey Infographic

 

 

 

 

 

 

*Data reflective of Willis Towers Watson Mid-Market and broker channel market

robharkins

For highlights of my perspective in articles and blogs, see my comments on LinkedIn and Twitter.

This post is part of our Exchange Innovator Series featuring leading private exchange, health care reform and Medicare experts from Willis Towers Watson. See John Barkett and Sherri Bockhorst.

I’m Rob Harkins, private exchange practice leader for mid-market employers, for Willis Towers Watson’s private exchange business sector.

As part of the Health and Benefits segment, it’s my mission to ensure satisfaction internally, as well as externally, with our leading mid-market clients, accessing a modernized technological approach to benefit delivery, whether their need is individual Medicare, pre-65 retiree benefits, or group coverage.

I’ve been heavily involved during the merger of Willis and Towers Watson, enhancing the transition and acting as a bridge between our Health & Benefits consulting group and our base of mid-market employers, with populations ranging from the hundreds to the tens of thousands.

My health insurance roots

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Baltimore with my wife and friends

I cut my teeth on exchanges at Extend Health – a start-up that was acquired by Towers Watson in 2012. Having worked on Medicare Advantage with a focus on state and public sector employers, I was a steward for our channel partner relationships between consultants that wanted to provide a private Medicare exchange to their clients, including Towers Watson and Willis. I eventually moved from Extend Health to become the exchange practice leader at Willis. Collaborating with Liazon, I developed the Willis private exchange platform. In the process, I kicked the tires on every private exchange in the market in order to create something that would deliver true value to our employer clients and their employees.My education was in health care administration, which provided a terrific springboard for my career. I’ve worked in a range of companies, from start-ups to major national health insurance carriers, and this breadth of experience helped me to develop products and solutions that synched with innovation in the health care space.

 

My attention and focus is always drawn to what we can do operationally to innovate with technology and engage employees. I’ve always been the change agent. My true passion is looking at what is on the horizon and integrating the very best components of the past, present and the future into one integrated vision. One of my strengths is getting employers to understand how and when change can be beneficial. I believe in identifying various opportunities that can bring clients value, and then helping them get there by painting that picture for them.

Where I see health insurance going

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I love the outdoors and hiking

One of the top reasons employers are now turning to private exchanges is the changing workforce.

A digitally savvy younger workforce does not want to access benefits from an antiquated system. They just don’t. No one wants to get into a car and wind down a window or push a button to lock a door. Health exchanges are to benefit delivery what the smartphone has been to the telephone.

The benefits world moves very slowly, especially when it comes to employers who have a very paternalistic approach to employees. But how can we continue to deliver on paper or in a clunky benefit administration system that has to rival the ease with which we can buy cars? The system has to be very sophisticated.

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Very proud of my big family

Private exchanges are bringing benefits into the 21st century—with access and choice. Ten years from now, everyone will be using exchanges, because the way it was done yesterday just can’t continue. Once you change technology, there’s no going back. The dial-up phone is gone.

I believe that there will be gradual embracing of all the components that are part and parcel of the technology enhancements exchanges bring.

We all learned how to shop online—no one gave us a training manual. We all figured it out, and our culture changed around the technology, and the technology was very agile and responsive. And that’s what the exchange platform is: It’s a new way of doing things.

To reach me for comment on an article or a presentation, contact Melanie Meharchand, Director of PR and Social Media for Exchange Solutions, Willis Towers Watson.