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Channel Management: Are you ready for
the surge in online marketplaces and
private exchanges?
Jeff Yaniga
September 16th, 3PM
Overview
• High Level Overview of Private Exchange
Elements
• Helping Exchanges Help Dental Plans
• What Exchange Operators Want
Fred and Cheryl Yaniga: Benefits Consumers
Henry Yaniga: Tomorrow’s Benefit Consumer
My why
Seven Key Exchange Elements
Elective Benefit Exchanges
• Aon Hewitt in the News
• SunLife in the News
Element #1
• Credibility
Credibility
• The stakeholders need to believe the exchange is going to work
• Evidence of past success• Revenue
• Breadth of client base
• Number of enrollments/members using tech today
Element #2
• Easy to see return on investment model
ROI: Beneficiary
ROI: Employer
ROI: Exchange Operator
Element #3
• Meaningful product choice
The paradox
Wise about choice
Survey
How much choice would you want?
Source: Connecture 2013 Consumer Survey
Fully stocked product store
• Medical
• Dental
• Elective Benefits
• Why additional benefit products matter to sellers
Meaningful choice and flexibility of choice for brokers
Element #4• Post Enrollment Services Suite
None, some, or all
• Call center support
• Benefits administration
• Wellness
• HSA/FSA
• Transparency tools
Element #5• Serve all beneficiary types
Serve all beneficiary types
• Individual non-subsidized
• Federally Facilitated Marketplace (FFM)
Early RetireeActive Employees
• Group• 25-2,000+• Fully
insured• Self
Insured
Medical(Group or Individual)
MedicareRetiree
• Medigap• MAPD• Part D
Segment
AncillaryCritical Illness Disability Life AD&D STD LTD Dental Vision Tele-Medicine
Part-timers/Seasonal
• Group• Group
supplemental plan
• Individual non-subsidized
• FFM
HSA FSA HRAFunding
Serve all beneficiary types
• Individual non-subsidized
• Federally Facilitated Marketplace (FFM)
Early RetireeActive Employees
• Group• 25-2,000+• Fully
insured• Self
Insured
Medical(Group or Individual)
MedicareRetiree
• Medigap• MAPD• Part D
Segment
AncillaryCritical Illness Disability Life AD&D STD LTD Dental Vision Tele-Medicine
Part-timers/Seasonal
• Group• Group
supplemental plan
• Individual non-subsidized
• FFM
Early RetireeMedicareRetiree
Serve all beneficiary types
• Individual non-subsidized
• Federally Facilitated Marketplace (FFM)
Early RetireeActive Employees
• Group• 25-2,000+• Fully
insured• Self
Insured
Medical(Group or Individual)
MedicareRetiree
• Medigap• MAPD• Part D
Segment
AncillaryCritical Illness Disability Life AD&D STD LTD Dental Vision Tele-Medicine
Part-timers/Seasonal
• Group• Group
supplemental plan
• Individual non-subsidized
• FFM
HSA FSA HRAFunding
Part Timers/Seasonal
Serve all beneficiary types
• Individual non-subsidized
• Federally Facilitated Marketplace (FFM)
Early RetireeActive Employees
• Group• 25-2,000+• Fully
insured• Self
Insured
Medical(Group or Individual)
MedicareRetiree
• Medigap• MAPD• Part D
Segment
AncillaryCritical Illness Disability Life AD&D STD LTD Dental Vision Tele-Medicine
Part-timers/Seasonal
• Group• Group
supplemental plan
• Individual non-subsidized
• FFM
HSA FSA HRAFunding
ActiveEmployees
Element #6• Great software user experience
Great software user experience
Source: “Why Healthcare.gov stumps ‘highly educated’ Millennial” – Karen Kaplan, Los Angeles Times 7/8/2014
Great software user experience
Great software user experience
Great software user experience
Great software user experience
Element #7• Decision support tools for all participants
Decision support tools: Stakeholders
Decision support
Decision support
Decision support
Employee decision support
7 building blocks summary
1. Credibility
2. Easy to see return on investment model
3. Meaningful product choice
4. Simplified post-enrollment services suite
5. Serve all beneficiary types
6. Great software user experience
7. Decision support tools for all participants
Megatrends
Megatrends
160%Health insurance
premiums have
increased
over 12 years, far
surpassing inflation.
Megatrends
Megatrends
40 million private exchange enrollees forecasted by 2018
Megatrends that may change it all
Cost ≠ Quality to alignment
Why private exchanges matter
Megatrends
Exchanges will evolve as consumer
benefits literacy evolves
Ezekiel Emanuel
Megatrends respondents
• All other things equal, people do business with people and brands they know, like and trust
• Megatrend respondents are investing in:– Expert positioning (ask us)
– Relationships (likeable user experiences)
– Getting local
• Megatrend respondents are evolving– Can’t beat ‘em, join em. Delivery plus risk assessment
– Health delivery system is in it’s infancy
Immutable facts?
Megatrend respondents
• Megatrend respondents are evolving– Can’t beat ‘em, join em
– Efficient delivery + actuarial capacity + analytics + acumen
– Build, buy or partner
• Megatrend respondents are transforming– Turn themselves into integrated delivery systems
• Regardless, technology and consumers WILL participate
Immutable facts?
Helping Exchanges Help Dental
Plans
Considerations for Getting Products on Product
Store:
- Potential Avenues
- Product Structure
- Key Contacts at Exchanges
What Exchange Operators Want
• Products that can be sold consultatively
• Products that sellers want
• Products that drive high beneficiary
satisfaction
• Products that can be purchased easily
Megatrends that may change it all
The time is now. Benefits delivery is in it’s infancy.
